The Weston Democrat. [volume] (Weston, W. Va.) 1875-current, 1879-12-06
Synopsis Of the
PRESIDENTS MESSAGE.

The members OF the Forty-siNth
! Congress have assembled in their
first regular session under circun-
stances calling for mutual congrNt-
ulalinn and grateful acknowledge
mcnt 10 The Oliver OF all good for
! the large and unusual measure Of
Natioua! prosperity which We now
enjoy.
The most interesting events
which have occurred in our public
affairs since my last annual mes
sage 10 Congress are connect
ed with the financial opcr-
atious Of the Government directly
affecting the business interests OF
tho country. ! congratulate Con-
grcsS on the successful execution
1F The resumption act, At the
time fixed and in the manner con-
tenpiatcd by law, United States
notes hogan 10 he redeemed in
coin. Since the first OF JANUARY
last they have hccn promptly re-
deemed on presentation, and in al!
business transactions, public and
private, in all parts Of the country,
they are received and paid out as
the equivalent Of coin. Tic de-
mand upon the Treasury for gold
and silver in exchange for United
States notes has been compnrI-
lively small. and the voluntary lie
post Of coin AID bullion mex
change for notes las haen very
large. The excess Of the precious
metals depu-iieI or exchanged for
tinted. States notes over the
amount Of United States notes re-
deemed is about $l0,G0O,O0O.
::1S:'lho resumption Of specie pay
incnts has hcon followed by very
great revival Of business. With Il
currency equivalent in value TO the
money Of the commercial verdi, We
are enabled to enter upon an equal
competition with other nations
trade and production. The in
crcasing demand for foreign manu-
FIXTURES and agricultural products
has caused Il largo balance oftradc
lin our favor, which has been paid
lin g0!d, from the first Of July last,
TO November IS. to the amount of
about $59,O0N,OOO Since the re-
sumption Of specie payments there
has also been a marked and graft
living Improvement of tho public
credit. The bonds of The Govern
mcnt bearing only four per cent.
interest hive been sold nj or above
par. sufficient in amomt to pay of
! all of the national debt which was
redr4lnahIe under present laws.
The amount Of interest saved m-
nuaiiy hy The process ofrriun,liny
the debt. since March /, 1871. is
$lt.2GrlI. The bonds sold were
largely in small sums, 4nI the
number Of our citizens now holding
the public securities Is mitch great
rr than ever before. The amount
If ;"o National debt which, natures
within lees than l"" years /.
$T:l22, I22!.,i@, Of which $1W',HT'|W
bear Interest NJ I Ii" THtc Of !lye pei
cent. and the balance is i'll bonds
bearing SIX pcr cent interest It :
believed that tins part OF the plpll'
orr' can nc ft'"i'IeG i. ~ ,iI' H., aSs sue
81 !'"r per cen! l,'''''I' ''I"' ~ ~
EIl"I'l'h OF ,'''I , "!!'G'' VIZ NJ
mus i' eI!eT'ed' ""o"I e'e'o'l mn
IONS "a I"IlI ,I; '''l, Nc n "h.,'a ,
saye! 10 ll,e treasury i' 10 S'r..r,
lNI ''"Por,"I! rc,'"c ,.! 81 'E c,,
20 nc par" ny III" 1iii'e's 7.''pI
IuF!II"F EEiSIA''2" - Irluir3Su,
which' II IS h%rGH' %i'I Ne pr"I'"eo
~ congress "":'''S "S present Ses
SION Ut,
! he colnagc OF gold ny the mlnts
+ OF the United States, during thl
i lo"t fiscal year was %!o'S6,"l2
The coinag" o. SILVER DOLLARS slncC
the paSSa@" OF til" act Tor 'hal pNr'
pos. up to Naycmhcr !; ~. %G'
Tla'NloS"l "i when @!2.',w'"i'I
/ have been 'SSN"'I from i!n Treas,
ury and are n"" Il, eirc"Ian"ii'and
$%2,"p,5o6":" stu! III possession Of
III" government
The pcpdcncy Of the proposition
for unity Of action hytwrcn Tie
Unitcd States ami the principal
commercial nations Of Europe. ia
,I.,,. q, ,,,r,,,,n,,t p,.I,,,n FC,r a.,