Louisiana capitolian. (Baton Rouge, La.) 1879-1881, 1881-03-08
BATON ROUGE, LOUISIANA TUESDAY, 4.


declares that IA little child shall lead
them" for our little children will soon
control the destinies of the republic.
As couptrymen we do not now differ
in our judgment concerning the contro-
versies of past generations, and fifty
years hence our children will not be di-
vided in their opinions concerning our
controversies. They will surely bless
their fathers and their fathers God that
the Union was preserved, that slavery
was overthrown, and that both races
were made equal before the law. We
may hasten or we may retard, but we
cannot prevent final reconciliation. Is
it not possible for US now to make
truce with time by anticipating and &C.
cepting its inevitable verdictf Enter
prises Of highest Importance to our NOR
al and material well-being invite us and
offer ample scope for the employment of
our best powers. Let all our people,
leaving behind them the battlefelds of
dead issues, move forward, and in the
strength Of liberty and restored union,
win the grander victories of peace.
TIN CURRENCY AND PUBLIC DBBT QUBs-
TIoN.
The prosperity which now prevails is
without parallel in our history. Fruit
full seasons have done much to secure it,
but they have not done all. The pres
ervation of public credit and the re-
sumption of specie payments, so sue
cessfully attained by the administration
of my predecessors, has enabled our peO-
pie to secure the blessings which the
seasons brought. By the experience of
commercial nations, in all ages, it has
been found that gold and silver afford
the only safe foundation for the momen-
tary system. Confusion has recently
been created by variations in the rela-
tive value of the two metals, but con-
fidently believe that arrangements can
be made between the leading CONNER
cial nations which will secure the gen
eral use of both metals. Congress should
provide that the compulsory coinage OF
silver, now required by law, may not
disturb our momentary system by driv-
ing either metal out of circulation. If
possible, such adjustment should be
made that the purchasing power
of every coined dollar will be exactly
equal as debt-paying power in all the
markets of the world. The chief duty
Of the national government, in connec-
ton with the currency Op the country,
is to coin money and declare its value.
Grave doubts have been entertained
whether Congress is authorized by the
| constitution to make any form of paper
money legal tender.
The present issue of United States
notes has been sustained by the necessi-
ties ofwar, but such paper should depend
convenience in use and it's prompt
redemption in coin at the will Of the
holder and not upon its compulsory cir
culatiOn. These notes are not money,
but promises to pay money. If the
holders demand it the promise should be
kept. The refunding of national bonds
at lower rate of interest should be
accomplished without compelling the
withdrawal of national bank notes and
thus disturb the business of the country.
Venture to refer to the position have
occupied on financial questions during
ing long service in Congress, and to
say that time and experience have
strengthened the opinions ] have so
often expressed on these subjects. The
finances Of the government shall suffer
no detrment which it may be possible
for my administration to prevent.
AGRICULTURE. MANUFACTURES AND COM
MERGE.
The interests of agriculture deserve
more attention from the government
than they have yet received. The farms
of the United States afford homes and
employment for more than one-half our
people, and furnish much the largest
part of all our exports. AS the govern
| ment lights our coasts for the protection
| of mariners and the benefit of commerce
SO it should give to the tillers of the soil
the best lights of practical science and
experience.
Our manufactures are rapidly making
us industrially independent, and are
opening to capital and labor new and
profitable fields of employment. Their
steady and healthy growth should still
be maintained; our facilities for trans
portation should be increased by contia-
ued improvement of our harbors and
and great interior water ways, andby an
increase of our tonnage on the oceans.
INTEROCEAN1C TRANSIT.
The development of the worlds CON-
merce las led to an urgent demand for
shortening the great sea voyage around
Cape Horn by constructing ship canals
or railways across the isthmns which
mites the two continents. Various plans
to this end have been suggested and will
need consideration, but none of them
have been sufficiently matured to war
rant united aid. The subject, howe yer,
is one which will Immediately engage
the attention of the government with a
view to thorough protection OF Ameri-
can interests. We will urge DO narrow
policy nor seek peculiar or extensive
privileges in any commercial route, but,
| in language Of my predecessor, l believe
it to be the right and duty of the United
i +,t, !, ,a,,