The Mankato free press. [volume] (Mankato, Blue Earth County, Minn.) 1879-1924, 1879-12-05
THE MESSAGE.
Annual Communication of
President Hayes.
Read to Congress on Monday, Dec. /.


inS for mutual congratulations aud grateful
acknowledgment to tie Oliver OF all good Tor
the large and unusual measure of national
which we now enjoy. The most in
seresunS events which have occurred in our
public sdairs since my last annual message 10
CohSrtsS are connecEel with the financial
operations OF the Government d.recily Meeting
The business interests Of the country.
Resumption.
congratulate Cong ess ON the successful
e1ecunoR OF the assumption act A
We time liked, and ia the manner
contemplated by law, United States notes
oesAn 10 be redeemed IN COIN. Sine
the lst OF January last they have
been prompt Y redeemed on presentation, and
IN ell business transa ,tiuns, pubic and private,
In al parts Of the country, they are received
and paid out IS the equivalent Of coin, The
demand upon the treasury for gold and silver
IN exc ,Snge for United States notes has been
comparatively small, and the voluntary deposit
OF cola and bullion 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
redeeD'ed il about s41,OOO,UOO
The resumption Of specie payments has been
followed by very great revival OF business
With currency equivalent in value 70 the
hled 10 enter upon an equal competition with
or er nations in trade snd production The
increasing foreign demand for our msnufact-
ures aud agricultural products has caused .
large balance OF Trade Ia our favor, which has
been Paid IN gold, from the LIST OF July last 10
NOV. ID, TO tie amount Of about $3.50 0.U0Q
Public Credit.
Since the resumption OF specie payments
there has been a marked and gratifying i'm
provement OF the public credit The bonds OF
the Government bear ng only per cent inter
est have sold st or a0oye par, sufficient ia
amount 10 pay OF al OF the nauonAl debt
which rsdSenIAble under the preset
Laws The amount OF interest saved aunua lly
BY the process OF retunding the debt since
March l, 1911, is sl4, 2y7,l71 The bonds sid
we're largely in small Gums, and the number OF
our CT z, Us nov holding tie public securities
- much greater than ever before. The
amount OF the national debt, which natures
In lees than two years, Is S19S, ~, 40, Oi
which s5yN,UNNUUO bear int, rest at the
rate Of per cent 1t is believed thai
tins part OF the public debt can be re-
funded BY the ISSUE Of 4-per-cent bonds,
and 10y the reduction Of interest which Will
thus be effected about sll, $1,000 can be Sn-
nually saved TO the treasury. To secure this
important reduction Of interest to be paid by
the U-IIed States, further leSisla ion is re-
quIred, which II Is hoped ~il be provided by
NSASh''S pICScut eeeclOQ. llt
cor age or gUld by the mlhts OF the United
States during the last fiscal year was 81, $50
Silver Coinage.
The coinage OF silver dollars since the pass
age OF the act for that purpose up TO Nov. l.
1873, was S45, ~, 81, Of which Sl2, 700, 81
have beeu issued Fl, In the treasury, and are
now IN circulation, and So 81, $50 are slill il
the pos sseslou Of the Government The pen
of -
tween The CIIted States and the principal COM
mercla, usuOEs Of Europe O. effect . perma-
nent system for the equality of gold and
SILVER II the recognized money OF the
world, leads me 70 recommend that Congress
refrain from new legislation on the general
subj CT The great revival Of trade, in
teinal and foIeigu, Will supply during
the coming year Its oEl Instructions, which
may well be awaited be :ore attempting further
experimental measures with the Coinage ]
TOulI, however, strongly urge upon Congress
the lmpor: ance Il auth riZng the Secretary Of
the r'aslry TO suspend the coinage OF silver
dollars upon the present legal ratio. The market
value OF the silver dollar being uniformly and
largely less than the market value Of the gold
dollar, Il Is obviously InpracucAblS to main
tain hem Al par with each other IL both are
coined Withcu! limit. II the cheaper coin il
forced into circulation il will, il coined without
limit be ONE the sole standard OF value, and
thus defeat the desired object which is cur
rency Of both god and silver. which shall be Of
equivalent value, dollar for dollar, with the
ualverssily-recognized money Of the world
Legal Tenders.
The retirement from circulation OF United
States notes, with the capac :; OF legal tender
In private coz rGct., il step . be taken in our
progress 10 far aud stable currency, which
should be accepted as tie policy and duty Of
the Government and the interest aud security of
the people. Ii is my firm conviction that the
issue OF tue leGsl-tender Taper money, based
wholly upon the authO- iIy and credit OF the
Government, except in extreme emery
ency, IL without warrant in the con-
sutuuon, and 6 violation Of sound fnan-
cial pTihcples The issue Of United States
notes during the late civil war, with the
capacity Of legal tender Letwe zen private indi-
VlduAl-, was not authorized x, ept as a means
81 rtscuIng the counTy from imminent peril.
he circulation OF these notes Es paper money
Tor any prUtracted PERIOD of time after the &C
Of this purpose vas not cOntem-
plated by the frslners of the laws under which
they were issued They anticipated the re-
tempuon AMI withdrawal OF these notes at the
EARLIEST practicable period consistent with the
o. tho object for which they were
provided.
Sinking Fund.
The policy OF the United States steadily ad-
hered to from the ado ytion of the constitution
has been u avoid the creation of q national
debt, a0d when, from necessity, in the time OF
war, d. rs have been created, they have been
bee pail Of Oh the return Of pesoe as rapidly
Is possible. WI L this yiew. and for this pur-
pose. II Is recommended that tue existing law
for the accumulf ton Of 8 sinking fund cuff
cient to e1tinguish the public debt within q
limited period be maintained. II any change
Of the objects or rates of taxation is deemed
by Congress, it is suggested that eI-
Perience has shown tina. duty can be placed
on tea and coffee which will not enhance the
price Of those articles to the consumer, and
which will add several millions Of dollars an
nuAlly to the treasury.
The Suppression OF POlygamy.
The continued deliberate violation by Q
large number OF the prominent and influential
citizens OF the Territory Of Utah of the laws Of
the Uni ed states for the prosecution and pun
ishmsnt OF poygamy demands the attention OF
every department Of the Government This
Territory has population sufficient 10 en-
title II 10 admission a. q State Tue general
interests Of the nation, as well az the welfare
of the citizens If the Territory, require
its advance from the Territorial form
of Government to the responsibilities
portrait c''anse will not, however, be approved
by the country while the citizens Of Utah. in
very considerable number. upheld . practice
which il condemned as 3 crime by the laws OF
all civilized communities throughout the world.
The law for the suppression Of his offcHse was
enacted with great UnsuiInity by Congr, 81 more
than seventeen Tears sg', but has remained
until recently dead letter in the Territory Of
Utah because Of the peculiar difficulties attend
ing its enforcement. The opinion widely pre-
vailed among the ci'iZens OF Utah that the Law
was in ~olIraveu'ion Of the constitutional guar
ante Of religious freedom.
This objection is now removed. Tho SU-
preme Court of the United States has decided
the law to be within the legislative power
Of Congress, and binding, as q rule Of
action, for al who resided within thu
Territories. There is DO longer any reason for
delay o. hesitation in its enforcement II
should bs firmly and effectively executed II
not sufficiently stringent in its provisions, il
should be amended, and, in aid OF the
purpose Ia view, l recommend that more COM
prehensive and moro searching meth de for
preventing &c well a. publishing this crime b.
provided. II necessary to secure obedience to
the law, the enjoyment and exercise Of the
rights and privilege Of citizenship, in the
Territories OF the United States may be with
held or Withdrawn from those who violate or
oppose the enforcement Of the law on this
sabtect
Popular Rights.
The elections of the past year though
occupied only with State Offices, have
not failed 70 elicit in the political Giscussion-
which attended them all over the country new
and decisive evidence OF the deep interest
which the great body Of citizens take
in the progress Of the country toward
q more general and complete establi.h
ment, at whatever cost, Of universal
security and freedom in the exercise OF the
elective franchise. While many topics Of
political concern demand great attention from
our people, both in the Sphere Of National and
State authority, 6nd no reason 70 qualify the
opinion expressed in my last annual Message,
that no temporary or administrative interest,"
OF Government, however urgent or weigh'y,
will ever dertroy the zeal Of our people in de
fense Of the primary rish's Of citizenship, an
that the power Of public opinion will over
hide all political prejudices and alI sectional
and State attachments in demanding that all