Year: 1865

But, while feel anxious about the present
imitation, and its effects upon the business and
morals of the country, !! am hopeful that, by
wise Legislation, we shall escape financial col.
is before the United States.


am hopeful that the currency may be


brought up to the specie standard without
these financial troubles which have in all coun.
tEes followed prOtracted and expensive wars


BY the experience of the past four years, We
are led to the conclusion that our people have
latent power that always manifests itselI
when required, and is equal to any emergency.
have faith, sir, that as we have, to the aston.
ishment of the world, raised immense armies;
larger apprehend than any single nation evei
brought into the field, and met the enormous
expenses of the war without borrowing from
other nations we shall also be able without q


financial crisis to fund our surplus currency
and interest bearing notes, bring back the busi.
OF the country on the most stable and satisfac-
tory basis. If we do this we shall accomplish
what the soundest thinkers in Europe have
considered an impossibility, and what no other
people but the tree and enterprising people OF
the United States, occupying the grandest
country in the world, could accomplish.


But should we be disappointed in these hope
full expectations; should no other check be
put upon the issues of paper money; should
prices still further advance and speculation be
still further stimulated and the result thereof
be extensive bankruptcy, depression and hard
times, the grand destiny Of this country and
this government will not be affacted.


The United States occupy the best portion
Of the temperate zone of continent, stretch
ing out its arms to Europe on the one side and
Asia on the other, and producing all articles
necessary for the subsistence and comfort of
the race. If cotton be king, he is, thank God,
enthroned again; if bread be king, where
should his capital be but in the great valley of
the Mississippi?


This nation has within itself everything that
is needed to make it the greatest among the
family of nations. Coal and iron in juxtaposi-
ton and inexhaustiible supply. Mountains and
valleys rich enough in gold and silver to fur
nish the world for all time, with what may be
needed for circulation and for other uses.
Copper and lead and other minerals are in no
less abundance. A soil of wonderful fertility,
climate salubrious and diversified, and, above
all, republican institutions, and an energetic
and again united people.


We have, it is true, sir, difficult questions
growing out of the war yet to be settled, but I
have an abiding confidence that they will be
settled as they come up for settlement, in such
manner as will strengthen the Union and add
the South is one of those questions, but if
there is no outside interference, it will not, I
apprehend, be very difficult one; on the con.
trary. it is quite likely to be self-adjusting
one The planter needs the labor of his for
mer slaves, and the high price which Southern
products will command for years to come, will
enable him to pay literally for it. The colored
people will soon learn that freedom from slave.
ry does not mean freedom from work. The
interests of the two races will not long be an
tagonistic. The whites will need the labor of
the blacks and the blacks will need employ
ment. There is as much danger to be appre-
hended from the unwillingness of the latter to
labor for support as from an indisposition on
the part of the former to pay fair wages. Like
all other economical questions it will be SET
tied by the necessities and interests of the par
ties.


Fortunately for the solution of this question
and the well being of laboring men generally,
capital is not supreme in the United States. Fl
does not, as in most other countries, hold labor
under its control, and dole out to it Just such
remuneration only as win make it most pro.
ductive. Labor is power in this free country
with its cheap lands, which are within the
reach Of all Industrious men-and dictates
terms 70 caDital