The Portland daily press., 1879-01-09

Il
or failure of the measure but it is hoped that Their
| may be no necessity for retreat from so plain
outy, Tor. ACCORDING TO Jne vf tho Uuite
States, which is the supreme law of the land an
which every legislator both Of the state and the ma
lion, swearS to support, nothing but gold and silve
| can lawfully be made a legal tender for debt. Th
legal tender act was manifestly and indisputably
violation Of the Constitution and in its operation, il
conjunction with the act establishing national bank
upon the basis OF double interest," has brought dsas
ter and misery upon the entire nation. Aided b,
their yoke-felow, protective tariff, there could no
have been extracted from Pandora's box Of evil
three measures more prolific of mischief. They hay
increased the expenses of government; doubled ou
public debit advanced the rates of interests DESTROYED
commerce; driven gold and silver from the country
Frustrated our manufacturing industries created al
aristocracy of wealth; engendered profgacy anc
crime. and brought restitution and misery into The
abodes of the aboring and industrial classes through
out the land. A compliance with the teachings anc
requirements of the Constitution of country i:
the only course OF safety. That instru ment was
framed by our forefathers who had suffered pesecu-
cution tor opinions sake endured hardshps fought
long and bloody war, realized the misery produced
by deprecated currency, and was adopted, aftsI
mature delberation the guiding star Of safety t.
conduct the Ship of State in its perilous passage
through boisterous seas and as a beacon light t.
warn against any Scylla or Charybdis which it
might encounter in its future course ANY departure
Hon lts precepts, whether in peace or war; is aught
with the utmost danger, and in all our discussions
ana deliberations its provisions should be kept con-
SANITY in view.
Inc question OF circulating medium other than
golu and silver, is anothe. branch of discussion
upon The Suhiact of mr.,
turn OF these metals to the hands of the people under
the resumption act, will add materially to the vol
ume OF our circulating eiium, and sooner or later,
under an discriminating and uniform coinage act
they may, OF themselves, fill the void In the mean
time, whether the United States Treasury noEes. in
mutipes OF five, ten or twenty dollars or national
or state baak notes of like amounts shall suppiv
any deficiency is question which agitates the pub
lie mind The only authority found in the constitu-
ton IN relation to the former is the authority given
Congress in that instrument "to borrow money upon
the credit of the United States"
The objection urget against using the notes of the
national banks is that these institutions are based nm
on principal manifestly unjust, and which practi-
cay gives to the capitalist double or treble interest
on It's investment and thereby increases the burdens
OF the people, who receive in return no valid compen
saton' single examin alton of any of the reports
Oh the Comptroller Of the Currency during the last
Ten years will exhibit this matter In its true light
lake, for instance, the standing of the institutions
on the goth OF October last, in the latest report
winch mas fallen under my observation and the ex-
nlbitin round numbers Is as follows.
oanA capital 466, 000, 900
Invested in bonds s4a2, oOO, 900
Loans and discounts. ................ 83O000, 900
AggregatiDg aside from investment 10
iea' esIate.''s ,272 000, 600
an amount upon which they are drawing interest
equal to nearly three times the amount of capital
invested. And as compensation for paying the
interest on this enormous amount at bank rates the
pubic receives the benefit Of circulating medium
OF national bank notes Of $3O, 900 OOO In view of
such facts if the authority issue treasury notes TO
nxed amount and sufficient for the necessity of
business, under the Constitution is clear and un-
mistakabls, there will be no doubt as to which
method the people will prefer. As before remarked,
IL Is not your especial business to legislate upon
national Matters but you have the right to indicate
TO our Senators and Representatives in Congress by
resolution Or otherwise, what you believe to be the
wishes OF your constituents and for their best
interests.
CONCLUSION.
The circumstances under which I have been
oh1cer OF the State prevent me from entering into
"DETAILS as to the condition and requirements of the
various industrial and Ieformatory institutions
placed uuder out supervision For particulars in
reference to these matters I must refer you 10 the
reports of the several officers in charge of them.
which will be submitted for your inspection at as
early period as practicable. The Importance OF
making suitable appropriations for the successful
management and well being of these institutions
Will be apparent to you all. While urging upon YOU
the Importance of strict economy and a careful
scrunlty into the necessity of any and all of your
appropriations, it must hot bs forgotten that ber-
AMY even In some directions is true economy, and
that the best interests of the State may be best SUBJ
served by judicious expenditures.
line position, gentlemen, to which have been so
Unexpectedly called by your votes, is one of grave
responsibility. shall endeavor to discharge its
duties to the best of my ability seeking only the in.
efeSt OF all our people, irrespective OF political fac
lions or local interests. You will have my coopera.
ton, Dy the approval Of all judicious enactments
having Ior their object the promotion of education
the suppression and prompt punishment Of crime,
tne curtaiment OF unnecessary expenditures, and Of
every measure that reasonably promises to lessen the
burdens OF taxation, or that is designed to amelo-
rate the suferings and add to the prosperity and
comfort Of our people.
I'm your part, am sure you will be actuated by
the came purpose, and will devote your best euer-
giles to secure these results. trust that YOUR DELHI
erations will be harmonious and the acerbty of mar
ty spirit will be forgotten in your desire to promote
the interests of your constituents and to make this
Legislature of which you are the members conspic-
uous for Its economy, industry sobriety and for its
wise and judicious enactments.
ALONZO GARCELON. |
The financial views uttered by the Governor PROV
ed very distateu to the Greenbackers and they hiss
ed them roundly. The hard money men, however.
appauded and there was considerable confusion, |
Aioer tne convention was dissolved another was i'm
mediately held and the Councillors qualified
The committees were announced TO-DAY. The House |
members were kept profound secret until their
names were uttered by the Speaker to that bodv.
Even reporters not allowed to see the list in aS.
rance as has been usually the case in order to ac.
'omm odate journals in distant parts of the state
Speaker Frank is evidently as frightened as the rest
If his party.
Joint Standing Committees.
Judiciary-Messfs Vinton of Cumberland. Tbom-
e or Cumberland, Morrison of franklin; Messrs
e a.sGn Of Thonaston Brown Of Bangor, Rice Of
n9nd, Mou,ton of Sea boro, Wallace of Belfast
Legal Atairs-Messrs. Prince of Androscooo;n.
,ouon u O1iofd Madigan of ArOOstOOk: Messrs |
,urran OF Calais, Ingraham of Portland, Hutchin.
on OF Lewiston: Andrews Of Cornish LAWS of
herman. Poor OF Sebago, Perry of Camden. Y,
ftndncso! Affairs Messrs. Rogers of Sagadaboc
ioody OF York, Halves OF Cumberland MesspS'
soynton OF Bangor, Fox of Portland. Homes Of
'ucksport Young of Brunswick Sargent of SndD
mex. Hatch Of Alton, Lawrence of Fai field. ''us
iawes OF Cumberland, Mayhem OF Kenneber::
iessIs: Brown of Bangor. Weeks of Augusta. Mani,
% OF Sanford. Perkins Of F.rt Fairfield. tsraodon
York, Parcher OF Saco, Sampson of Freedom
neutrality-suspicious. Ferguson of York Smith NJ
lincoln, Thompson of Knox; Messrs. Pickard Of
.ssngor, Guptill of Gorham, Poor of Sebago. Irish
l, bnckfed, Jersey of Sumner, Burbank of New
lBeyard, Wood of Winthrop.
. observation-disclosures. Thomas of Cumberland. Cobb
,. Anno of Vinton of CumbeI land; Messrs
' sh oi itland, Pickard of Bangor, Dingey of
~ hdR IN Of Blue Hill, Wilson Of Thomas
", mlDDy Oh Waterboro, Homer of Bucksport
ConnterceL Nj ssrs. Moody of York Coombs of |
!ancock, thompson of Knox: Messrs Tajhot Of
asst Machias, Tyler of WaIdoboro. Read of Roo,b-
ay, hlmDall OF Bath, Hall of NEWCASTLE V;iInmnh !
OF htckiand, Russ of Deer Isle, "''i0usA-
mercantile Afdirs-Messrs. Bradford of wasb;no
ID, Duran OF Cumberland, Patten of Penobscnf.
less's. Libby Of WATERFORD, Burr of Brewer Far,
ogton OF Fryeburg, Till of Hiram. Hanker,on Of
helsea. Robinson of Oldtown, Reed Of Bootbbay.
Banks and Banking-Me. Prince of Andre s
,oggn, Cobb of Androscoggn Ellis of WaIdo.
essrs lngraham of Portland, True of Paris Younp,