The Eaton Democrat. (Eaton, Ohio) 1875-1903, 1879-12-04
rHE MOST 1NrEREsr1Na EVENTS

the Giver Of all good for the large and unusual
measure of national prosperity which we now
enjoy.
THE MOST INTERESTING EVENTS
Which have occurred in our public affairs since
my last, annual message to Congress are con-
nected with the financial operations of the
Government, directly affecting the business in
terests of the country. congratulate Congress
on the successful execution of the Resumption
Act. At the time fixed, and il the manner
contemplated by law, United States notes be-
gan to be redeemed in coin. Since the 1st of
January last they have been promptly re-
deemed on presentation, and in all business
transactions public and private, in all parts of
the country, they are received and paid as the
equivalent OF coin. The demand upon the
Treasury for gold and silver in exchange for
United States notes has been comparatively
small, and the voluntary deposit of coin and bull
lion in exchange for notes has been very large.
The excess of the precious metals deposited
or exchanged for United States notes over the
amount of United States notes redeemed is
about SAC, ,000, 900. The resumption of specie
payment has been followed by great revival
of business.
INPRovENEST OF PUBLIC CREDIT.
The bonds of the Government bearing only
per cent. interest have been sold at about
par, sufficient in amount to pay off all of the
National debt which was redeemable under
present laws! The amount of interest saved
annually by the process of refunding the debt
since March |, 1877, is S14, ,297, III. The bonds
sold were largely in small sums, and the num-
Der of our citizens now holding the public se-
curities is much greater than ever before.
The amount ofthe National debt which ma
lures within less than two years is 1892, ,121 200.
of which $500, 10000 bears interest at the
rate of 5 per cent, and the balance is
in bonds bearing 6 per cent. interest. 1t is
believed that this part of the public debt
can be refunded by the issue of four
per cent. bonds, and by the reduction
of interest which will thus be effected
about Sl1 100000 can be annually saved to the
Treasury. To secure this important reduction
of interest to be paid by the United States,
further legislation is required, which, it is
hoped, will be provided by Congress during its
present session.
would, however, strongly urge upon Con-
gress the Importance of authorizing the Secre-
tary of the Treasury to suspend the
COINAGE OF SILVER DOLLARS
Upon the present legal rate. The market
value of the silver dollar being uniformly and
largely less than the market value of the gold
dollar, it is obviously impracticable to main
tain them at par with each other if both are
coined without limit. If the cheaper coin is
forced into circulation, it will, if coined with
out limit, soon become the sole standard of
value, and thus defeat the desired object
which is currency of both gold and silver,
which shall be of equivalent value, dollar
for dollar, with the universally recognized
money OF the world. The retirement from cir.
culation of United States notes with the capa-
city of legal tender in private contracts, is a
step to be taken in our progress toward a safe
| and stable currency, which should be accepted
as the policy and duty of the Government, and
the interest and security of the people. 1t is
| my firm conviction that the issue of legal ten
der paper money, based wholly upon the au-
thority and credit ef the Government, except
in cases of extreme emergency, is without
warrant in the Constitution, and a violation of
sound financial principles Tha policy of the
United States, steadily adhered to from the
adoption of the Constitution, has been to avoid
| the creation of
NATIONAL DEBT,
And when from necessity, in time of war, debts
have been created, they have been paid of
| on the return of peace as rapidly as possi-
| BILE. With this view, and for this purpose, il
| is recommended that the existing laws for the
accumulation of Sinking Fund sufficient to
extinguish the public debt within a limited
period be maintained.
The continued deliberate violation by q
| large number of the prominent and influential
citizens of the Territory of Utah of the Jaws
of the United States for the prosecution and
punishment of polygamy merits the attention
of every Department of the Government. This
territory has a population sufficient to entitle
| it to admission as State. This important
change will not, however, be approved by the
country while the citizens of Utah in very con-
siderable number uphold a practice which is
condemned as a crime by the laws of all civil
lied communities throughout the world. The
law for the suppression of this offense was en-
acted with great unanimity by Congress more
than seventeen years ago, but has remained
until recently.a dead letter in the Territory o.
Utah.
The opinion widely prevailed among the cit
/ zens of Utah that the law was in contraven.
ton of the Constitutional guarantee of relig.
| ious freedom. This objection is now removed
| The Supreme Court of the United States ha.
decided the law to be within the legislativ,
power of Congress, and binding as rule o
action for all who reside within the Territories
1t should be firmly and effectively executed
| If not sufficiently stingent in its provisions i
| should be amended. If necessary to secur,
obedience to the law, the enjoyment and exer
cise of the rights and privileges of citizenship
| in the Territories of the United States may b.
withheld or withdrawn from those who violat,
or oppose the enforcement of the law on tn,
subject. The election of the past year, though
occupied only with State offices, have no
l fo;I ii ,a;f ,,,
i which attend them all over the country, ney
and decisive evidence of the deep interes
which the great body of citizens take in tn
progress of the country toward d more genera
and complete establishment, at whateve
cost, of universal security and freedom in tn
exercise of the elective franchise. Whil
many topics of political concern demand grea
attention from our people, both in the spher
of National and State authority, find no .rea
son to qualify the opinion I expressed in m
last annual message-tnat no temporary Q
administrative interests of Government, hoF
ever urgent or weighty, will ever displace th
zeal of our people in defense of the primar
rights of citizenship, and that the power {
public opinion will override all political preju
dices. I respectfully urge upen Congress [
supply any defects in the laws which expert
ence has shown and which it is within il
power to remedy.
CIVIL SERVICE.
The grave evils and perils of partisa
spoils system of appointment to office, and
Office tenure, are now generally recognized
In the resolutions of the great parties, in Il
reports OF Departments, in the debates al
proceedings of Congress, in the messages
Executives, the gravity of the evils has bee
pointed out, and the need of their reform hi
been admitted. To command the necessal
support, every measure OF reform must
based on common right and justice and must
compatible with the healthy existence of gre
parties, which are inevitable and essential
a free State.
When the people have approved policy
a National election, confidence on the part
the officers they have selected, and of the a
visers who in accordance with our polite
institutions should be consulted in the poll
which it is their duty to carry into effect,
Indispensable. 1t is eminently proper tn
: they should explain it before the people,
, well as illustrate its spirit in the performan
of their official duties.
, 1t hardly need be pointed out that very dife
ent considerations apply to the greater nul
, ber of those who fill the subordinate places
the Civil Service. Their responsibility is
> their superiors in official position. 1t is tn,