Year: 1877

ment last week, containing the Presi-


dents Message and the Report of the
/ Secretary of the Treasury.


The Message is an ably written,


clear and business-like document,


giving the Presidents views of his


Southern Policy, the Resumption Of
/ Specie Payments, the Remonetiza-


ton of Silver, Civil Service Reform,


and other topics, in plain, frank and


unequivocal language, though with


out dogmatism, and with marked re-


spect to those who differ with him


in opinion.


He refers to bis Southern policy


as being vinditated 1ay-its results


thus far, in the better state of things


existing in the South, and the grow


ing indications of returning LOYALTY


to the Union among the Southern
! people. He declares it to be the du-
1 ty of the National Government to ex


ert all its constitutional power to
protect the rights of the coIored race.


and pledges himself to use all the au-


thority vested in him for that
purpose, at the same time appealing


to the authorities and the people of.
the South to deal with them Justly


and kindly.


In regard to Resumption, he de-
clares his views unchanged. He still
believes that both justice and sound
policy require a return to specie pay
ments at the earliest possible day,
and that there can be no solid pros
perity until the money of the people
has a fixed and unchangeable value,
based upon its equality with coin.


He approves theremoneGzation Of
silver, but with two restrictions,
first, that silver coin should be made
as nearly equal in value to gold as
possible, ndsecond, that there should
be a proper limitation Of the amount
for which silver should be legal ten
der. He believes the restrictions nee
essary in order to keep the two met
ais in circulation together, and main
tain the volume of the two precious
metals as 0 ur intrinsic money. Up
on this basis he thinks the remonet-
ization of silver would be a wise
measure, and tend to hasten the re-
sumption Of specie payments.


The President also takes decided /
ground against the payment Of the
public debt in silver coin of less val
ue than gold, as being unjust to the
public creditor, wlo are fairly en-
titled to payment in gold, or in sill
yer Of equal value to gold, as gold .
was the standard of value when the
debt was contracted. He thinks the
small saving that would be made by
paying the bonds in silver Of depreci-
ated value, would be far more than
counterbalanced by the injury to the
public credit, that would result from
such a course, and which would at
once stop the funding of the public
debt at a lower rate of interest, by
which millions Of dollars have al
ready Leen saved to the Government.
This is the fair and honest view Of
the matter, and we DO not see how
it can be successfully answered.


As to Civil Service Reform, the Pres
ident adheres to the views expressed
in his inaugural, and recommends an
appropriation to enable the Civil Ser
wee Commissioners appointed by
Gen. Grant, to resume their work.


These are the most important top
lc of the Message, the remainder Of {
the document being chiefly occupied
with tie usual routine of foreign re
-atiOns, thearmy, navy and other de !
oartments. The President warmly :
approves the humane Indian policy
of his predecessor, and insists upon
The more strict observance Of our t
treaty obligations with The Indians
Is the only means of preserving
relations with them,


The Message closes by recon-
nending a National University at the
seat of Government. On the whole,
{ is an able and interesting State !
paper, and will compare favoarbly I
with the Messages of any former
President. t