Newspaper Page Text
VOLUME XLIV.J
M I L L E D KE FILLE, GEORGIA, DECEMBER 10, 1873.
M II M B \ V 20.
FALL .AND WINTER
Millinery, N Dress Goods, Fancy Goods,
AND
All tlie IVovcItius of the Season.
MRS. P. A. LANDRUM
linn just returned froui X
DUESS GOODS, Trimmings, Fancy Goods, tea
.t lower prices tlmu ever before.
\ork wlieresbe purchased a large mid beautiful assortment of MILLINERY,
K.O., « hieh are uovr arriving, and which she is abie to sell
BONNETS, HATS, FEATHERS. RIBBONS, &c.,
Stdected with great care fiom the latest ami prettiest Stvlcs. Mid for beauty and lichees -
rer brought to tins maiket. She wm very fortunate in the pareioise of so„ie very hand-oim
uuEKATHEKS, which she can sell at astonishing LOW PRICES.
urpa^s anything
• real and imita
X> XL 2D Sffit GOOU3
Shei ivites the ladies to call i
|i„o, M. rinocs, Empress Cloths
the celebrated Ueuingote.
ud examine her Dress Goods, consisting of Silks Rrilish
, Opera Cloths of ail shades and colors. Also. Camels’I
Lu
LARGE STOCK OF
Lad ies, M isscs and Children’s Shoes and
. Sateeii.s, Pojj
i d ?J , suitable for
iosiery.
Hair Work of aii Kinds,
A General Assortment of Toilet Articles,
Toys by the Million and Jewelry of all Kinds.
PINS, NEEDLES and SEWING COTTON of all kinds.
THOMPSON’S GLOVE-FITTING CORSETS,
AND TIIE WORLD-RENOWNED SEAMLESS GLOVES,
Bath Ribbons at low prices, Queen Bess 3.ufflin?, Old ladies Caps, &c.
Site tuui the Ageucy of the Celebrated ‘Domestic” p>ip*r puttei tin, »uu can supply iu«liea with puiterua of
all kind, from 5 cents up. ller opening wii! lake place in a lew days of which notice n il. be <»iveu
9RSSS r.s A 211 ns a,
Stii 1 dene in the beet Style?.
Nilledgeville, Gn , Oct. 8, 1873, ' II 3m
THE
Stirioit tf Jttorber,
IS PSBL1SHXD WEEXLT
IK MILLEDGEVILLE. GA.,
ar >
Boughton, Barnes & Moore,
At $2 ia Aivaace, or $3 at cad of the year
S. IV. BOUOHTON, Editor.
THE “FEDERAL UNION” and the “SOUTH
ERN RECORDER" were consolidated August 1st,
1872, the Union being in its Forty-Third Yolume and
the Recorder in it's Fifty-Third Yolame.
ADVERTISING.
Transient.—One Dollar per square of ten lines for first inser
tion. and seventy-fire c»*nts for each enbseqmut continuance.
Liberal discount on these rates will be allowed on advertise
ments running three mouths, or longer.
Tributes of Respect, Resolutions by Societies, Obituaries ex*
seeding six line*, Nominations for olFce snd Communications
for individual benefit, charged as Iransieut advertising.
The Cheap Grocery and Provision
STOll!
-:0:-
IF ¥01 WANT TO SAVE MONEY BIY YOUl GROCERIES AND
PROVISIONS AT TIIE CHEAP STORE,
WE ARE DETERMINED TO SELL LOW.
Don't Stop nntil you find the Bight Store, on Wayne Street JTorth
BXascnis Hall.
of
PLANTETAME NOTICE!
Family Groceries, Provisions, and Supplies of all Kinds,
AT THE LOWEST CASH PRICES. On hand and to arrive the following articles :
2,0000 llij* C K Sides*, 5,0 0 I be Shoulder*. 500 lbs choice Pi*' hams, 1,000 ibs Leaf Lard, al Low Figures.
FJuur *11 grades, Corn, Bran and Find Feed for Stock. Seed Oats, Sugars ali kind , Coffee cheap, Goshen
Butter, and Cream Cheese, Pic Nies, Craeknella, Snapells, Kentucky Butter, Lemon Crackers, and other
vanGties. Mackerel in barrels and kits. Morgan Sons and other Soaps. Potash, Candles, Kerosene Oil,
8*j*, Copperas, Powder aud Shot. Cotton Cards. Chewing and Smoking Tobacco, Pickles and Oysters, Sift-
•n, Bucket*, Brooms, Choice Segars. Come aud see ns and save your money. Quick sales and small profit?
la ear motto. \
ftKBBN and BET HI9SS Wanted, for which highest price will 1 " paid.
lUviug secured the service? uf Mr. C- B. MUNDAY, wlio will bo always on :ian i to meet hie eld cu»-
U>u«r« and attend to the wauls of new ones, we hope to be able to give satisfaction to all, and merit a liberal
patronage.
SAMVEL EVANS & CO.
Mill«dgeville, Nov 8, 1873. Hi >U Jan 8 74
FUJRNITUlt E ! FURNITURE ! I
W. tib J. OAHAK1DR,
I1AND a large assortment of FINK AND COMMON FURNITUliE, con-
H ATK ON
ilrftiig of
Be&utlftf! Bed-Room
Setts, Bureaus, Mirrors, Tables, (hairs
Urdalc-udN and .TlaJIraaac* of all »iii» aud quaiitaca.
Dono to Order on ?l;ort notice.
%
fy Repairing of Furniture and Upliolaterin]
Window-Shades and Fixtures,
Corner and Wall Brackets, &c.
such as Doll Car-
WILLOW BASKETS, CHILDREN’S CARRIAGES. Large lot of Children’s Toy
riages, Express Wagons, &c.
BUGGY HARNESS for sale. Also, all kinds of Material for Carriage Makers and Repairers. Ready-made
Wagon and Buggy Wheels always on hand.
Doors, Sash and Slinds, and Fixtures for Blinds.
(3T We guarantee Low Prices and Good Work.
Give us a call.
Bnriaf
€?a ses
All styles of Metallic and Wood Burial Cases and Caskets always on hand.
or Orderu for case* will receive prompt attention at all hours—day or night.
W. & J* CARAKEK.
ailledgevtlie, Ga., Sept. 2, 1873. C Gm
B. P. WALKER,
(Uto ul 3. T. it B. P. Walkej
J. II. DOBBS,
(Late Wise, Dubbs X Co.)
WALKEH & HOBBS,
■' SUCCESSORS TO
Wise, Dobbs So €
is?
IMPORTERS AND WHOLESALE DEALERS IN
China, Crockery and Glass Ware, Silver Plated Ware,
FOCEST AND TABLE CUTIiSRir,
COAL OIL LAMPS, WICKS. BURNERS, CHIMNEYS. CHANDELIERS,
’ FIXTURES, PORTERS PLANTATION AND COM BIN ATI
HTWe would call the attention of Merchants to our i;
that we cuugive entire BatUiaction iu regard
Walker So Dobbs, macon, a.
' OeUber 14, 1873,
AS AND KEROSENE
ATION HOLS.
use aud varied stock of the above Goods, feeling
;o quality and price. Our retail Department is also complete
GO
Boy Your
THOMAS
TO MACO
AND
Furniture aud Carpets
O F
Next to Lanier \ louse.
The President's Message.
Washington, D. C., December 1.
To the Senate and House of Ilep resent a
(ires :
AN EVENTFUL YEAR.
The year that has passed since the sub
mission of my last message to Congress
lias (especially during the latter part of
it) been an eventful one to tlie country.—
In the midst of great national prosperity
a financial crisis has occurred that has
brought low fortunes of gigantic propor
tions—political partisanship has almost
ceased to exist, especially in the agricul
tural regions^ and finally, the capture up
on the high fiefis. of a vessel bearing our
iiag has for a time threatened the most se
rious consequences, and has agitated the
public iiiind from one end of the country
to the other. But tliis happily now is in
course of satisfactory adjustment, honor
able to both nations concerned.
FOREIGN RELATIONS.
The relations of the United States,
however, with most of the other powers,
continue to be friendly and cordial With
France, Germany, Russia, Italy and the
minor European powers—with Brazil and
most of the South American Republics—
and with Japan, nothing has occurred
during the year to demand special notice.
The correspondence between the Depart
ment of State and various diplomatic rep
resentatives in or from these countries is
transmitted herewith.
wooo,
THE LOWEST PRICES EVER KNOWN !
metal cases and caskets, wood coffins of all kinds,
At prices that defy competition. Niglit call* answered at the Lanier House.
fBEOMAS WOOD,
Oct 14,1873.
DKacon, Ga.
12 Cm.
CARPETS, OIL CLOTHS, CURTAINS.
Fall Trade 18V3.
JAMES G. BAILIE & BROTHER,
Street,
205 y>toad Sheet, AUGUSTA, GA.,
Ar, now offering the Largest Slock of CARPETS, OIL CLOTHS. SHADES anACI^TAINS ever of
kj any Hoiue South, and at the loweet prices. Goofs all new. Pretty and Cheap. Be sure to call and
»t tiro n«w and beautiful array of Pattern? at
offered
look
Choice Family Groceries aud Plantation Supplies.
*** al low prices at
Out. SI, 1873.
JAMBS O. BAXXiXX. & BROTHER.
First Class Goods!
JAMBS G. BAXLXB A
BROTHER.
13 3m.
WM. B. AOHNSTON, «XR.,
Successor to Tlios. U. Conner,
Keeps on hand the latest and most fashionable styles of
BATS, MEATS, HATS, HATS,
Gents Furnishing Goods! Gents Furnishing Goods!
CRAVATS, SCARFS, BOWS, FIRS, TRUNKS, VALISES, SATCHELS,
Baskets, Umbrellas, Canes, &c., &c., &c.
Wbec you come to Macon please give me a call. Orders promptly and satisfactorily filled.
*•»« u, 1873,
Cotton Avenue, next to Mix A Xirtland, MACON,
OA.
17 3m.
THE VIENNA EXPOSITION.
In executing the will of Congress,
expressed in its joint resolution of the
14th of February last, and in accordance
with the provisions of the resolutions, i
number of “practical artisans,” of “ scien
tific men,” and .of honorary commission
ers were authorized to attend the exposi
tion at Vienna as commissioners of the
United States. It is believed that we have
obtained the object which Congress had
in view when it passed the joint resolu
tion “ in order to enable the people of the
United States to participate in tlie advan
tages of the international exhibition of the
products of agriculture and manufactures
at the fair which was to be held at Vienna.”
I take pleasure in adding that the Ameri
can exhibitors have received a gratifying
number of diplomas and medals.
During the exposition, a conference was
held at Vienna for tlie purpose of consul
tation on the systems providing in differ
ent countries for the protection of inven
tions. I authorized a representation from
the patent office to be present at Vienna
at the time when this conference was to
take place, in order to aid as far as he
might, in securing any possiblejadditional
protection to American inventors in Eu
rope. The report of this agent will be
laid before Congress.
CHINA.
It is my pleasant duty to announce to
Congress that tne Emperor of China, on
attaining his majority, received the diplo
matic representatives of the Western pow
ers in person. An account of these cere
monies and of the interesting discussions
which preceded them, will be found in the
documents transmitted herewith.
The accompanying papers show that
some advance, although slight, has been
made during the past year towards the
suppression of the infamous Chinese Coo
lie trade. I recommend Congress to in
quire whetner additional legislation be not
needed on these subjects.
TIIE BRITISH INDEMNITY MONEY.
Tbe money awarded to the United
States by the tribunal of arbitration at
Geneva was paid by her Majesty’s Gov
ernment a few days in advance of the
time when it would have become payable
according to the terms of the treaty. In
compliance with the provisions of the act
of March, 3, 1873, it was at once paid in
to the treasury and used to redeem, so far
as it might, the public debt of the United
States ; and the amount so redeemed was
invested in a five per cent registered bond
of the United for §15,500,000, which is
now held by the Secretary of State sub
ject to the future disposition of Congress.
I renew my recommendation made at
the opening of the last session of Con
gress, that. a commission be created for
the purpose of auditing and determining
the amounts of the several direct losses
growing out of the destruction of vessels
and their cargoes—by tbe Alabama, the
Florida, or the ^Shenandoah, after leaving
Melbourne, for which the sufferers have
received no equivalent or compensation,
and of ascertaining the names of the per
sons entitled to receive compensation for
the same, making the computations upon
the basis indicated by the tribunal of ar
bitration at Geneva, and that payment of
such losses be authorized to an extent not
to exceed the awards of the tribunal at
Geneva.
BRITISH AND AMERICAN BOUNDARY,
Bv an act approved 4th day of Fehru
ary last, Congress made provision for
completing jointly with an officer or com
mission, to be named by her Britanic
Majesty, the determination of so much
of the boundary line between the territo
ry of the United States and the posses
sions of Great Britain as was left uncom
pleted by the commissioners appointed
under the act of Congress of August 11,
1856. Under the provisions of this act,
the northwest boundary of the United
States has been determined and marked,
in accordance with the award of the Em
perorof Germany- A protocol and a copy
of the map upon which the line was thus
marked are contained in the papers sub
mitted herewith.
I also transmit a copy of the report of
the commissioner for marking the bound
ary between the United States and the
British possessions west of the Lake of
the Woods, of the operations of the com
mission during the past season. Surveys
have been made to a point 497 miles west
of tbe Lida of the Woods, leaving about
360 miles to be surveyed, the field work
of which can be completed during the
next season.
THE MIXED COMMISSION.
The Mixed Commission organized un
der the provisions of the treaty of Wash
ington for settling and determining the
nlftima of citizens of either power against
the other arising out of acts committed
against their persons or property during
the period between April 13th, 1861, and
April 9th, 1865, made its final award on
i the 25th day of September last. It was
awarded that the Government of the Uni
ted States should pay to the Government
of her Britanic Majesty, within twelve
months from the date of the award, the
sum of $1,929, 879 in gold. The commis
sion disallowed or dismissed all other
claims of British subjects against the
United States. The amount of the claims
presented by the British Government,
but disallowed or dismissed is understood
to be about §93,000,000. It also disal
lowed the claims of citizens of the United
States against Great Britain which were
referred to it. I recommend the early
passage of an act appropriating the
amount necessary to pay this award against
the United States.
I have caused to be communicated to
the Government of the King of Italy the
thanks of this Government for the emi
nent services rendered by Count Corti as
the third commissioner on this commis
sion. With dignity, learning and impar
tiality he discharged duties requiring great
labor and constant patience, to the satis
faction, I believe, of both governments.
A SPECIAL COURT OF CLAIMS.
I recommend legislation to create a spe
cial court to consist of three judges who
shall be empowered to hear and determine
all claims of aliens upon the United States
arising out of acts committed against their
persons or property during the insurrec
tion. The recent reference under the Trea
ty of Washington was confined to claims
of British subjects, arising during the
period named in the treaty, but it is un
derstood that there are other British
claims of a similar nature arising after
the 9th of April, 1865, and it is known
that other claims of a like nature are ad
vanced by citizens or subjects of other
powers. It is desirable to have these
claims also examined and disposed of.
THE ACIIEEN WAR.
Official information being received from
the Dutch Government of a state of war
between the King of the Netherlands and
the Sultan of Acheen, the officers of the
United States who were near the scat of
the war were instructed to observe an im
partial neutrality- It is believed that
they have done so.
THE MEXICAN COMMISSION.
The joint commission, under the con
vention with Mexico of 1868, having again
been legally prolonged, has resumed its
business, which it is hoped may be brought
to an early conclusion.
The distinguished representative of her
Britanic Majesty at Washington has
kindly consented, with the approval of
his Government, to assume the arduous
and responsible duties of umpire in this
commission, and to lend the weight of his
character and name to such decisions
may not receive the acquiescence of both
the arbitrators appointed by the respec
tive Governments.
visions of the Constitution, the opinion,
in writing, of the principal officer in each
of the executive departments upon certain
questions relating to this subject The
result satisfies me that further legislation
has become necessary. I therefore com
mend the subject to the careful considera
tion of Congress, and I transmit here
with copies of the several opinions of the
principal officers of the executive depart
ments, together with other correspond
ence on the point, for information on the
subject.
The United States who led the way in
the overthrow of the Federal doctrine of
perpetual allegiance, are among the last
to indicate how their own citizens may
elect another nationality.
The papers submitted herewith indi
cate what is necessary to place us on a
par with other leading nations in liberali
ty of legislation on this international
question. We have already, in our trea
ties, assented to the principles which
would need to be embodied in laws in
tended to accomplish such results. We
have agreed that citizens of the United
States may cease to be citizens and may
voluntarily render allegiance to other pow
ers. We have agreed that residence in a
■foreign land, without intent to return,
shall of itself work expatriation. We
have agreed in some instances, upon the
length of time necessary for such contin
ual residence to work a presumption of
such intent
I invite Congress now to mark out and
define when and how expatriation can be
accomplished—to regulate by law the eon
dition of American women marrying for
eigners—to fix the status of children born
in a foreign country of American parents
residing more or less permanently abroad,
and to make rules for determining sueh
other kindred points as may seem best to
Congress.
THE RAIDS ON TEXAS.
The commissioners appointed pursuant
to the authority of Congress to examine
into the nature and extent of the forays
by trespasses from that country upon the
herds of Texas have made a report which
will be submitted for your considera
tion.
CLAIMS AGAINST VENEZUELA.
Ths Venezuelan Government has been
informed of the sense of Congress in re
gard to the awards of the Joint Commis
sion under the Convention of the 26th of
April, 1866, as expressed in the act of the
25th of February last. It is apprehended
that that Government does not realize
the character of its obligations under the
Convention. As there is reason to be
lieve, however, that its hesitancy in rec
ognizing them springs in part, at least,
from real difficulty in discharging them
in connection with its obligations to other
governments, the expediency of further
forbearance on our part is believed to be
worthy of your consideration.
TURKEY AND EGYPT.
The Ottoman government and that of
Egypt have lately shown a disposition to
relieve foreign consuls of the judicial
powers, which heretofore they have exer
cised in the Turkish dominions, by or
ganizing other tribunals. As Congress,
however, has by law provided for the dis
charge of the judicial functions by the con
suls of the United States in that quarter,
under the treaty of 1830, I have not felt
at liberty formally to accept the proposed
change without the assent of Congress,
whose decision upon the subject, at as an
early a period as may be convenient, is
earnestly requested.
A DOMINICAN PROTECTORATE.
I transmit herewith, for the considers
tion and determination of Congress, an
application of the republic of St. Domin
go to this Government to exercise a pro
tectorate over tnat republic.
RECENT TREATIES.
Since the adjournment of Congress the
following treaties with foreign powers
have been proclaimed: A neutralization
convention with Denmark—a convention
with Mexiao for relieving the Claims
Commission—a convention of friendship,
commerce and extradition with the Orange
Free State, and a naturalization conven
tion with Ecuador.
APPOINTMENT OF POSTMASTERS.
I renew the recommendation made in
my message of December 18, 1870, that
Congress authorize the Postmaster Gen
eral to issue all commissions to officials
appointed through his department.
LAWS OF EXPATRIATION.
I invite the earnest attention of Con
gress to the existing laws of the United
States respecting expatriation, and the
election of nationality by individuals.—
Many citizens of the United States reside
permanently abroad with their families,
under the provisions of the act approved
February 10, 1855. The children of such
persons are to be redeemed and taken to be
citizens of the United States, but the
rights of citizenship are not to descend
to persons whose fathers never resided in
the United States.
It thus happens that persons who have
nevCT resided within the United States
have been enabled to put forward a pre
tension to the protection of the United
States againBt the claim to military ser
vice of tie Government trader whose pro
tection they were bom and reared. In
some cases, even naturalized citizens of
the United States have returned to the
land of their birth with intent to remain
there, and their children, the issue of a
marriage contracted then, after their re
turn, and who have never been in the
United States, have laid claim to our
protection, when the lapse of many years
had imposed upon them the duties of
military service to the only government
which had ever known them personally.
Until the year 1868 it was left embar
rassed by conflicting opinions of courts
and of jurists to determine how far the
doctrine of perpetual allegiance, derived
from our former colonial relations with
Great Britain, was applicable to American
citizens, Congress then wisely swept these
doubts away by enacting that “Any de
claration, instruction, opinion, order or
decision of any officer of this Government
which denies, restricts, impairs or ques
tions the right of expatriation is incon
sistent with, the fundamental principles
of this Government ”
But Congress did not indicate in that
statute, nor has it since done so, what
acts are to be deemed to work expatria
tion. - -
For my own gradance in determining
~ required, under the pro^
THE SPANISH REPUBLIC.
In compliance with the request of Con
gross, I have submitted to the American
Minister at Madrid, with instructions to
present it to the Spanish government, the
joint resolution approved on the 3d of
March last, tendering to the people
Spain, in the name and on behalf of the
American people, the congratulations of
Congress upon the efforts to consolidate
in Spain the principles of universal liber
ty in a Republican form of government.
The existence of this new republic was
inaugurated by striking the fetters from
the slaves in Porto Rico. This beneficent
measure was followed by the release of
several thousand persons illegally held as
slaves in Cuba. Next, the Captain Gen
eral of that colony was deprived of the
power to set aside the orders of his stipe
riors at Madrid, which had pertained to
the office since 1825. The sequestered
estates of American citizens, which had been
the cause of long and fruitless corres
pondence, were ordered to be restored to
their owners. All these liberal steps were
taken in the face of a violent opposition,
directed by the reactionary slaveholders
of Havana, who are vainly striving to
stay the march of ideas which have doom
ed slavery in Christendom, Cuba excepted.
SLAVERY IN CUBA.
Bttch question, I;
Unhappily, however, this beneful influ
ence has thus far succeeded in defeating
the efforts of all liberal minded men in
Spain to abolish slavery in Cuba, and in
preventing the promised reform in that
island. The straggle for political suprem
acy continues there. The pro-slavery and
aristocratic party in Cuba is gradually
arraigning itself in more open hostility
and defiance of the home government,
while it still maintains a political connec
tion with the republic in the peninsula,
and although usurping and defying the
authority of the home government when
ever such usurpation or defiance tends in
the direction of oppression, or of the
maintenance of abuses, it is still a power
in Madrid and is recognized by the gov
ernment.
Thus an element more dangerous to
continued colonial relations between Cu
ba and Spain than that which inspired the
insurrection at Yara—an element opposed
to granting any relief from misrule and
abuse—with no aspirations for freedom—
commanding no sympathies in generous
breasts—aiming to rivet still stronger the
shackles of slavery and oppression, has
seized many of the emblems of power in
Cuba, and under professions of loyalty to
the mother country, is exhausting the re
sources of the island and is doing acts
which are at variance with those princi
ples of justice—of liberality, and of right,
which give nobility of character to a Re
public. In the interests of humanity—of
civilization, and of progress, it is to be
hoped that this evil influence may soon
be averted.
THE VIRGINIU8.
The steamer Yirginius was, on the 26th
day of September, 1870, duly registered
at the port of New York as a part of the
commercial marine of the United States.
On the 4th of October, 1870, having re
ceived the certificate of her register in the
usual legal form, she sailed from the port
of New York and has not since been with
in the territorial jurisdiction of the Uni
ted States. On the 31st of October last,
while sailing under the flag of the United
States, on the high seas, she was forcibly
seized by the Spanish gunboat Tornado,
and was carried into the port of Santiago
de Cuba, where many of her passengers
and crew were inhnmanly, and, so far, at
least, as relates to those who were citizens
of the United States, were without due
process of law put to death.
THE PE1NC1FLE CONTBAVENED.
It is a well established principle, as
serted by the United States from tlie be
ginning of their National Independence
—recognized by Great Britain and other
maritime powers, and stated by the Sen
ate in a resolution passed unanimously
on the 16th day of June, 1858, that Amer
ican vessels on the high seas, in time of
peace, bearing the American flag, remain
under the jurisdiction of the country to
which they belong, and therefore any vis
itation, molestation or detention of such
vessel, by force, or by the exhibition of
force, on the part of a foreign power, is
in derogation of the sovereignty of the
United States.
In accordance with this principle, the
restoration of the Virginias and the re
mainder of the survivors of her passen
gers and crew, and a due reparation to
the flag, and the punishment of the au
thorities who had been guilty of the ille
gal acts of violence, were demanded.
SATISFACTION ACCORDED BY SPAIN.
The Spanish government has recogni
zed the justice of the demand, and has
arranged for the immediate delivery of
the vessel and the surrender of the sur
vivors of the passengers and crew, and
for a salute to the flag, and for proceed
ings looking to the punishment of those
who may be proved to have been guilty of
illegal acts of violence towards citizens
of the United States, and also towards
indemnifying those who may be shown to
be entitled to indemnity.
A copy of a protocol of a conference
between the Secretary of State and the
Spanish Minister, in which the terms of
this arrangement were agreed to, is trans
mitted herewith.
The correspondence on this subject
with the legation of the United States in
Madrid was conducted in cypher and by
cable, and needs the verification of the
actual text of the correspondence. It has
seemed to me to bo due tbe importance
of tlie case not to submit this correspon- G f prices—the impossibility of compe-
denc e until the accurate text could be re- ting in our own markets for the products
ceivetl by mail. It is expected shortly, of home skill and labor, and repeated re-
and will be submitted when received. I newals of present experiences.
THE TROUBLE DUE TO SLAVERY. I ELASTICiTYIN THE CIRCUIT TING MEDIUM
In taking leave of this subject for the I Elasticity in our circulating medium,
present, I wish to renew the expression of I therefore, and just enough of it to trana-
my conviction that the existence of sla-lact the legitimate business of the country
very in Cuba is a powerful cause of the and keep all industries employed is what
lamentable condition of the island. I do is most to be desired. The exact medinm
not doubt that Congress shares with me is specie—the recognized medium of ex*
the hope that it will soon be miade to dis-1 change the world over. That obtained,
appear, and that peace .and prosperity I we shall have a currency of an exact de-
may follow its abolition. I gree of elasticity. If there be too much
The embargoing of American estates of it for the legitimate pnrposes of trade
in Cuba—cruelty to American citizens de- and commerce, it will flow out of the
tectcd in no act of hostility to the Span- country; if too little, the reverse will re-
isli government—the murdering of pria- suit To • hold what we have and to ap-
oners captured with arms in their hands, predate our Currency to that standard is
and finally, the capture on the high seas the problem deserving of the most seri-
of a vessel sailing under the United ous consideration of Congress.
States flag and bearing a United States! th* emnurter satisfactory.
registry, has culminated in an outburst ! The experience of the present panic **««
of indignation that has seemed for a time proven that the currency of the countxy
to threaten war. based, as it is, upon the credit of the
Pending negotiations between the Uni- country, is the best that lias ever been da
ted States .and the government of Spain vised. Usually, in tyues of such trials,
ou the subject of this capture, I have au-1 the Crarency has become worthless or ao
thorized the Secretary of the navy to put much depreciated in value as to inflato
our navy on a war footing to the extent the values of all the necessaries of life as
at least of the entire annual appropria- ] compured with the currency. Every one
ticn f6r that branch of the public service, I holding it tas been anxious to dispose of
trusting to our Congresp and the public I it omany terms. Now, we witness the re-
ojHrnon of the American people to justify verse—holders of currency hoard it as
my action. I they-did gold in former experiences of a
constitutional amendments. like nature. It is patent to the most cas-
As Burning from the action of the last (oaf observer, that much more currency or
Congress in appointing a Committee on phoney is required to transact the legiti
Privileges and Elections to prepare and mate trade of the country during the fall
report to this Congress a Constitutional winter months when the vast crops
amendment to provide a better method * r ® being removed than dming the bal-
of electing the President and Yice-Presi- j ance of the year. With our present sya-
dent of the United Sattes, and also from J the aiuount in the country remains
the necessity of such an amendment that the same throughout the entire year, ro-
there will be submitted to the State Le- suiting in an accumulation of all surplus
gislatures for ratification suchnn' improve- capital of the country in a few centres,
ment in our Constitution, I suggest two When most employed in the moving of
others for your consideration: First. To I crops, tempted thereby the offer of in-
authorize the Executive to approve of so terest on call loans, interest being paid,
much of any measure passing the two) Ihis surplus capital must earn this inter-
houses of Congress as his judgment may ®*t paid, with a profit. Being subject to
dictate—without approving the whole—4 “call," it cannot be loaned—only in part
the disapproved portion or portions to be [ »t best—to the merchant or mannfactnror
subjec ted to the same rales as now, to-wit: M ora fixed time. Hence no matter how
To be referred back to the honse in much currency there might be in the
which the measure or measures originated I country, it would be absorbed—prices
and if passed by a two-thirds vote of the keeping pace with the volume, and pan-
two houses, then to become a law without M 08 ? stringency and disasters would ever
the approval of the President. be recurring with the autumn.
I would add to this a provision that Elasticity in onr monetary system,
there should l>e no legislation by Congress therefore, is the object to be attained first,
dming the last twenty horns of its sit- s**d next to that, as far as possible, a pre
ting, except upon vetoes, in order to give vention of the use of other people’s mo
tile Executive an opportunity to examine ne y stock and other speculations,
and approve or disapprove bills under- how to prevent speculation.
standingly. To prevent the latter it seems to me
Second—To provide by amendment one great step would be taken by
that when an extra session of Congress is prohibiting the national banks from pay-
convened by executive proclamation legis- ing interest on deposits, by requiring
lation during the continuance of such ex- them to hold their resources in their own
tra session shall be confined to such sub- vaults, and by forcing them into resump-
jects as the executive may bring before it rion, though it would be only in legal ten-
from time to time in writing. der notes.
The advantages to be gained by these GOVERNMENT CLEARING HOUSES,
two amendments are obvious. One ses- For this purpose I would suggest the
sion in each year is provided for by the establishment of clearing houses for your
Constitution, in which there are no re- consideration. To secure the former
strictions as to the subjects of legislation many plans have been suggested, most if
by Congress. If more are required it is not all of which look to me more like in-
always in the power of Congress, during flation, on the one hand, or compelling
their term of office, to provide for ses- the government, on the other, to pay in-
sions at any time. terest without corresponding benefits up-
The first of these amendments would j on the surplus funds of the country du-
protect the public against the many aba- ring the seasons when otherwise tmem-
ses and waste of public moneys which ployed.
creep into appropriation bills and other increased issues to the national banes.
important measures passing during the I submit to your consideration whether
expiring hours of Congrss, to which oth-1 this difficulty might be overcome by au-
ervvise due consideration cannot be given. [ thorizing the Secretary of the Treasuiy
treasury DEPARTMENT. I isirae, at any time, to national banks of
The receipts of the Government from I * 8Bn ®> “J amount of their own notes be-
all sources for the last fiscal year were * fixed percentage of their issue, say
§333,738,204, and the expenditures on all P er v C€ 5 i ^’ u P° n “ e banka depositing
accounts §290,345,245, thus showing an Treasurer of .the United States
excess of receipts over expenditures of 80 amount of Government bonds eqnal
§43,392,959. But it is not probable that to *“« amount of notes demanded—the
this favorable exhibit will be shown for banks to forfeit to the Government say 4
the present fiscal year. P 6 * ««*■ of interest accruing on the
FPONnwY vFPFtsAUY bonds so pledged, during the time they
T j j , I s . , * ., remain with the Treasurer, as security
Indeed it is very doubtful whether, ex- for ^ ^cremed circulation-the bonds
cept with great economy on the part of l pledged ^ redeemable by the banks
Congress m making appropriations, and L t pieasure, either in whole or in
the same economy in administering the ^ b returning their own bills for can-
vanous departments of government, the to an «fruonnt equal to the face
revenues will not fall short of meeting ac- L f withdrawn,
tual expenses, including interest on the j would further BnggeBt for yonr con -
pubhc debt. sideration the propriety of authorizing
HOW TO PRACTICE IT. t.h« nulinniil twnlrgfn diminish (.heir sfjmd-
I commend to Congress such economy, 1 fog issue at pleasure, by returning for
and point out two sources where it seems concellation their own bills and with-
to me it might commence, to-wit: The drawing so many United States bonds as
appropriations for public buildings in the are pledged for the bills returned,
many cities where work has not yet been FREE BANKING,
commenced—in the appropriation for fo view of the great actual contraction,
river and harbor improvement, in those I fha.fr has taken place in the currency, and
localities where the improvements are of I (he comparative contraction continuously
but little benefit to the general commerce, I going on, due to the increase of popula*
and for fortifications. I tion, increase of manufactures and all the
There is a still more fruitful source of industries, I do not believe there is too
expenditure, which I will point out later muc h of it now for the dullest period of
in this message. I refer to the easy meth- (he year. Indeed, if clearing houses
should be established, thus forcing re
demption, it is a question for your con
od of manufacturing claims for losses in
curred in suppressing the late rebellion.
I would not be understood here as op
posing the erection of good, substantial,
and even ornamental buildings by the
Government wherever such buildings are
needed. In fact, I approve of the Gov
ernment owning its own buildings in all
sections of the country, and hope the day
is not far distant when it will not only
possess them, but will erect in the capital
suitable residences for all persons who
now receive commutation for quarters, or
rent at Government expense, and for the
Cabinet, thus setting an example to the
States, which may induce them to erect
buildings for their Senators. But I would
have tliis work conducted at a time when
the revenues of the country will abund-
intly justify it.
THE PANIC.
The revenues liave materially fallen off
for the first five months of the present
fiscal year from what they were expected
to produce, owing to the general panic
now’ prevailing, which commenced about
the middle of September. The full ex
tent of this disaster (if it should not prove
a blessing in disguise) is yet to be dem
onstrated. In either event it is your duty
to heed tlie lesson and to provide by wise
and well considered legislation, as for as
it lies in yonr power, against its recur
rence, and to take advantage oi all ben
efits that may have accrued.
SPECIE PAYMENTS.
My own judgment is that, however
much individuals may have suffered, one
long step has been taken towards specie
payments. That we can never have par
manent prosperity until a specie basis is
reached, and that a specie basis is reach
ed, and that a specie basis cannot be
reached and maintained until our exports,
exclusive of gold, pay for our imports—
interest due abroad and other specie ob
ligations, or so nearly so as to leave an
appreciable accumulation of the precious
metals in the country from the products
of onr mines.
The development of the mines of pre
cious metals during the past year and the
prospective development of
years to come, are gratifying in their re
sults. Could but one-half of the gold
extracted from the mines be retained at
home, our advance towards specie pay
ments would be rapid.
To increase our exports, sufficient cur
rency is required to keep all the ’
tries of the country employed,
this, national as well as indi’"
ruqtcy must ensue. Undue
the other hand, while it might gfo
poraiy relief, wold only lead to inflation
sideration whether banking should not be
made free—retaining all tlie safeguards
now required to secure bill-holders on any
modification of the present laws regulat
ing national banka
As a further step towards preparing for
resumption of specie payments, I invite
your attention to a consideration of the
propriety of exacting from them the re
tention, as a part of their reserve, either
the whole or a -part of the gold interest
accruing upon the bonds pledged assecn-
rify for their issue. I have not reflected
enough dk the beerfogrthis might have
in producing a scarcity of coin with which
to pay duties on imports to give it my
poative recommendation, but your atten
tion isftmted’to tbe subject;
PROGRESS or CONTRACTION.
During fhe last four years the curren
cy haa been contracted, directly by the
withdrawal of three per cent, certificates,
compound interest notes and seven-thirty
bonds outstanding on the 4th of March,
1869, all of which took the place of legal
tenders in the bank reserves to the ex
tent of $63,000,000. During the same
period there has been a much larger com
parative contraction of the currency. Tbe
population of the county has largely in
creased. More than 35,000 miles of rail-
road have been built—requiring the ac- _
tive use of capital to operate them. Mill
ions of acres of land have been opened to
cultivation, requiring capital to move the
prodneta. Manufactures have multiplied
beyond all.precedent in the same period of
time, requiring capital for the purchase of
material; and probably the largest of all
comparative contraction arises from the
organization of free labor in the
South. Now every laborer there re
ceives his wages, and for want of savings
banksjit is carried in the pockets or hoard
ed until required for use. ,.
These suggestions are thrown out for
your consideration without recommenda
tion that they shall be adopted literally,
bu&oping& a beat method may be ar
rived at to secure such an elasticity of
the currency aa will keep employed all
ths industries of the country, sndpreven
such an inflation as will put off indefinitely
tiie resumption of specie payments—an «
object sodervwxtiy to.be wished for by all, >
andby none more earnestly than the claaa -iHn
of people most directly interested—those j, *>
to earn their bread by the sweat of m
“ • of Congnpc7fl
0$
AMERICAS SHIP-BUILDING.
Itt prorious messages, IJ