Year: 1868

Inaugural Address.


Gentlemen ct the Senate and House If Rep


sestdtires


With gratitude to the people of Iowa fol
an election TO the responsible office Of chic
magistrate Of the State, ! appear before you
70 take the solemn obligations prescribed BY
the Constitution, and to give assurance oi
fidelity to the interests Of the Common
wealth.


The period in which We meet is distin-
guisheA with peculiar favor. The labors OF
the husbandman have been crowned with
plenty pestilence and want have not visited
us a spirit Of good will and fraternal regard
has prevailed throughout all our borders.
Let US gratefully acknowledge the benefcent
Author Of these blessings And recognize our
increased obligations Of obedience and love.


The prospects Of our State we're never
more hopeful. The finances are in . sound
and hsalthful condition. Notwithstanding
the heavy burdens Of the war, We find OUT
selves untrammeled with debt and free from
exhAusting taxation. Our seasons ore kind.
y, and hsrvests abundant. The useful and
mechanic arts have not been neglected in
the development Of our resources. Never
in our history has the spirit Of internal in
Provsments exhibited such strength Of pur-
pose ss to-day, and energy and enterprise
ase everywhere striving to promote the com
mcrcial facilities Of the State. Especially is
this manifest in the rapid development Of
our railway communications. In 1859 the
number of miles Of railway in operation wac
three hundred aud ninety; in 1865 it was
seven hundred and ninety three; while at
the present time il cannot be less than twelve
hundred, and as this estimate embraces but
. fractional part Of chartered lines. VIC see
how hopeful, how full Of promise is our fa-
ture in this particular. The growth Of our
cities and towns; the spread Of our com
merce; the multiplication Of schools and
colleges in our midst are evidences Of .
substantial and progressive prosperity.


The representations Of the condition ofthe
State in its details BY my predecessor have
given you . favorable introduction to its
varied interests, and bespeak for his rec>
concentrations your careful consideration.
To again consider the topics which have
been so recently and 20 well presented would
seem unnecessary upon the present occasion.
Hereafter may deem it my duty TO invite
your attention TO some particular subjects of
legislation, and therefore shall be pardon
ed if now turn to The more extended field
Of national affairs.


In the war for preserving the unity of the
Republic, the people Of lows bore a leading
and brilliant part. Well may We congrs,u-
late ourselves, therefore, that the lsbors in
which We have shared, the sorrows in which
we have participated, the hopes and ankle
lies which ne have felt in common with loyal
hearts all over the land, have established it
upon 6rmer foundations than ever before.
The pernicious dogma Of I" State Rights
perished with the sword which was drawn in
its defence. 1t is one Of the first fruits of
victory that We are not q Republic Of cor
pofa3ions, but Republic of the people, and
that in questions affecting the interests Of all
the States, the ultimate srbiters are the pso.
pie Of the United States. While the rights
Of none ere to suffer encroschment, aud the
prerogstives Of each are to be jealously guard.
ded BY the power Of the whole, the popular
will must be the great expound+r Of the Con-
ssitusion. The cry has been raised that in
establishing and fortifying the powers Of the
nation, the people are in danger Of losing
their liberties. History has been cited 10
show that We are Initiating the unhappy poll
icy of other free governments, in which, 6rst
the spirit, and then the form; Of their insti>
tuition perished. But it is forgotten that
men have never before attained freedom
worthy Of the name, and that if they failed
they failed because they were unworthy.


Our own experience has more meaning
lessons for US than any examples Of former
success or ruin. Disclaiming the heresy
that the nation is every thing aud the State
nothing, let Us at the same time rejoice that
We have established 50 firmly the paramount
sovereignty Of the Unisn over sll its parts,
that in the hour Of great national exigency,
we shall never again be compelled to listen
70 the declaration that "thers is no power
in the general government to coerce 9 sov>
sreign State" Centrifugal must yield obe>
dience to centripetal law, or our system per-
ishes. And yet neither can be spared from
the perfection Of our theory. With the idea
that the authority Of the whole is supreme,
must b coupled the principle that the States
have . sphere Of action, limited 70 > sure,
but nevertheless distinct sphere, which the
general government hes neither the power
nor wish 10 invade.


To vindicate the integrity Of the Union
requireda : large expenditure. Happily for
Us and for the success Of our cause, the cred
il Of the nation WAS equal to the great emer>
gency which called il into existence. In
times of Unprecedented difficulty and when
our financial ability seemed the pivotal point
Of triumph or defeat, it proved an unfailng
rock Of supply. To maintain that credit
constitutes our most sacred duty and whats
ever responsibilities it may impose upon US,
the highest standard Of national good faith
will command the verdict Of the American
people. The cisidel of financial honor can
NOT be guarded 100 sacredly. should rep
robate ~ the most calsmitous Of mistortunes
any Liquidation on the part Of Congress, tend
ing TO invalidate the plighted OF even the
fairly implied, faith Of the nation.


Il has become the conviction Of some that
Q part Of the national bonds could be r..
deemed in currency, without fraud upon tie
holder. The advocates Of this policy base
the righteousness Of such redemption upon
the fact that the bonds themselves contain
no stipulation Of payment in specie. A
more subtle, insidious and, at the same time,
deadly attack upon the public credit could
not have been made. Apart from the fact
that gold is the recog- ised currency Of the
world and The standard Of value, and tha,
We can not exempt ourselves from the oper.
alton Of this law, there was, in this instance,
an implied understanding with both parsies
to the covenant that loans 10 the Govern.
nent should be paid in specie. The Secrs>
tasy Of the Treasury placed this interpreta,
tion upon the contract at the time the loan
Was being negotiated. All the exssmpora,
neous acts and sayings Of the men whc
framed the law are explicit in the assurance
thatno other intention lufked in the purpo>
L. n. s~.cmact