Year: 1873

We received this important document
by telegraph yesterday afternoon and We
surrender the principal portion OF our
sDsce to It this morning. 1t Is q lengthy
document TO como over the wires, and
We, such are the facilities Of the Western
Union Office for transmitting news that
Mr.. JOHN MORGAN, the Manager here,
and one OF his assistants, working two
wires received 1t In the short space Of
four hours and quarter Eight columns
of print in so short time over amachine
thst transmits letter by letter Is marvel
Of dispatch. But our friend MORGAN Is
equal 10 an undertaking Of the sort


As to the message itself, 1t Is very
matter Of fact document, iull ol inlorma'
tIon upon sll points touching our foreign
and domestic relations, and well worth
everyboiy's rea ding.


The Presidents position on financial
matters is little like that young lady's
experience who was "sort oi courted and
sort OF not, but rather more sort OF than
sort oil not" He Is rather more Of q
specie payment man than anything else.
That, no doubt, Is his preference and his
conviction But OF course he has been
severely pressed on the other side and
besought to deal gently with the question,
for it was only the other day that the
Hon. Mr.. KELLY laid his convertible
bond scheme before the President, and
was agreeably surprised to find how near
they were together Ii their ideas. This In
teryiew with KELLY may account for what
the Presidcn! says about issuing currency
tothe National banks IN exchange Tor
bonds aud taking 1t up again, at the
pleasure Of the banks, less four per cent
interest, and giving them back their
bonds. lie does not feel sure how much
currency the country needs, because he
does not know how much Of II has really
disappeared from circulation, owing TO
causes which he enumerates, but he Is
opposed 10 further initiation. And while
he is anxious to see money enough to
keep every wheel moving yet he does not
want enough to make this country mar
ket Tor foreign products.


Thus II Ia that the President steers
nicely between scylla and Charybdis on
the vexed financial question.


Economy is virtue these times, and
hence we are glad 10 see his advice to
Congress to go slow in the way oi appro'
priations. We trust they will take his
advice, and we know II they do that they
will give a quietus to his recommendation
in favor Of the Postal Telegraph scheme.
That IS one Of the schemes before the two
Houses that 1t will do to postpone indeti'
nitely, say until that time that the Pfesi.
dent speaks Of, when the States will build
houses for their Senators and the Federal
Government for their Cabinet officers,


The war question, which was expected
a day or two ago to be the great feature
of the message, has by the force OF cir
Cumstances dwindled down to par with
the current topics Of the day. We honor
the Secretary OF State for that Protocol
which the President submits with bis
message. 1t Ia a document that bespesks
the iorbearance and magnanimity Of q
strong government to sister republic in
distress. We had chance to push Spain
to the wall, but Mr.. FIsH, thank PrOvl.
dence, is not by nature or education q
fllibuster. Hc gave Spain honorable
terms, and we trust that she will be able
to do as much for herself as he has done
for her in this difficulty. .


Upon the whole, the Message will be
read with satisfaction by all well disposed
people. It is q good average document