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Communications on subjects of focal or general
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All letters pertaining to business of the office
should be addressed ro
JOHN LUTZ, BEDFORD, PA.
XSWSCAPER LAWS.—We would call the special
attention of Post Masters and subscribers to the
IXYI IEEB to the following synopsis of the Newi
papcr laws :
1. A Postmaster is required to give notice try
Miter, (returning a paper does not answer the law)
when a subscriber does not take his paper out of
the office, and state the reasons lor its not being
taken: and a neglect to do so makes the Postmas
ter repeonnbl* to the publishers for the payment.
2, Any person who takes a paper from the Post
office, whether directed to his name or another, or
whether he has subscribed or not is responsible
for the pay.
S. If a person orders his paper discontinued, he
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oilect the whole amount, trhether it be taken from
the office or not: There ran be n<> legal diseontin
uence until the paymeut is made.
4. If the subscriber orders his paper to be
stopped at a certain time, and the publisher con
tinues to send, the subscriber is bound to pay for
it, if he takee it out of the Port Office. The law
proceeds upon the ground that a man must pay
for what.he uses.
5. The courts have decided that refusing to take
newspapers and periodicals from the Post office,
of removing and having them uncalled for, is
prima facia evidence of intentional fraud.
a (i'anls.
ATTORNEYS AT LAW.
JOHN T- KEAGY,
ATTORNET-AT-LAW.
"SS, Office opposite Reed St Schell's Bank.
Counsel given in English and German. [apl26]
AND LINGENEELTER,
ATTORNEYS AT LAW, BEDFORD, PA.
Ilave formed a partnership in the practice of
the Law, in new brick building near the Lutheran
Church. [April 1, 1864-tf
A. POINTS,
ATTORNEY AT LAW, BBDFORD, PA.
Respectfully tenders his professional services
t o the public. Office with J. W. Liogcnfelter,
Esq., on Public Square near Lutheran Church.
,©O-Collectione promptly made. [Dec.9,'64-tf.
Jj AYES IRVINE,
ATTORNEY" AT LAW,
Will faithfully and promptly attend to all busi
ness intrusted to his care. Office withG. H. Spang,
Esq.,on Jnliana street, three doors south of the
Mengcl House. May 24:1y
ESPY M. ALSIP,
ATTORNEY AT LAW, BEDFORD, PA.,
Will faithfnlly and promptly attend to all busi
ness entrusted to his care in Bedford and adjoin
a counties. Military claims, Pensions, back
pay,. Bounty, Stc. Bpeedily collected. Office with
Mann A Spang, on Juliana street, 2 doors south
of the Mengel House. apl 1, 1864.—tf.
B. F. METERS J. W. DICKERSOM
A TEYERS A DICKERSON,
xVX ATTORNEYS AT LAW,
BEDFORD, PESH'A.,
Office nearly oppoaito the Mengel House, will
practice in the several Courts of Bedford county.
Pensions, bounties and back pay obtained and the
purchase of Beat KstatßaiiKuUcU [may i i,no-iy
J~ RT DURBORROW,
ATTORNEY AT LAW,
BEBFORD, PA.,
Will attend promptly to all business intrusted to
bis care. Collections made on the shortest no
tice.
He also, a regularly licensed Claim Agent
and wit give special attention to the prosecution
. 'liws against the Government for Pensions,
Back I ay, Bounty, Bounty Lands, Ac.
Office on Juliana street, one door South of the
inquirer office, and nearly opposite tbe'Mengel
House" A P ril 2S - 1865:t
g B. STUCK EY,
ATTORNEY' AND COUNSELLOR AT LAW,
and REAL ESTATE AGENT,
Office on Main Street, between Fourth and Fifth,
Opposite the Court House.
KANSAS CITY. MISSOURI.
Will practice in the adjoining Counties of Mis
souri and Kansas. July 12:tf
a. L. RUSSELL a. LOHQENECKER
RUSSELL A LONGENECKER,
.VTTORSKVS A COUNSELLORS AT LAW,
Bedford, Fa..
Will attend promptly and faithfully to all busi
ness entrusted to their cans. Special attention
given to collections and the prosecution of claims
for Back Pay, Bounty, Pensions, Ac.
SsWOffice on Juliana street, south of the Court
House. Aprils:lyr.
!• M'D. SHARPS E. P. SERB
SIIARPE A KERR.
A TTORNE YS-A T-LA W.
Will practice in the Courts of Bedford and ad
joining counties. All business entrusted to their
care will receive careful and prompt attention.
Pensions, Bounty, Back Pay, Ac., speedily col
lected from the Government.
Office on Juliana street, opposite the banking
house of Reed A Schcll. Bedford, Pa- mar2:tf
PHYSICIANS.
ryM. W. JAMISON, M. D.,
BLOODT RUN, PA.,
Respectfully tenders his professional services to
the people of that place and vicinity. [decStlyr
B. F. HARRY,
Respectfully tenders his professional ser
vices to the citisens of Bedford and vicinity.
Office and residence on Pitt Street, in the building
formerly occupied by Dr. J. n. Uufius. [Ap'l 1,64.
DR. s. G. STATLER, near Schellsburg, and
Dr. J. J. CLARKE, formerly of Cumberland
county, having associated themselves in the prac
tice of Medicine, respectfully offer their profes
sional services to the citiiens of Schellsburg And
vicinity. Dr. Clarke's office and residence same
as furmerly occupied by J. White, Esq.. dec d-
S. G. STATLER,
Schellsburg, Aprill2:ly. J. CLARKK.
M ISCELLANEOUS.
OE. SHANNON, BANKER,
, BEDFORD, PA.
BANK OF DISCOUNT AND DEPOSIT.
Collections made for the East, West. North aDd
Sou-h, and the general business of Exchange
transacted. Notes and Accounts Collected and
Remittances promptlymade. REAL ESTATE
bought and sold. feb22
hANIEL BORDER,
PITT STBEET, TWO DOORE WEST or THE BED
FORD HOTEL, BESRORN, PA.
WATCHMAKER AND DEALER IN JEWEL
RY. SPECTACLES. AC.
He keeps on hand a stock of fine Gold and Sil
ver Watches, Spectacles of Brilliant Double Refin
ed Glasses, also Scotch Pebble Glasses. Gold
Watch Chains. Breast Pins, Finger Rings, bost
quality of Gold Pens. He will supply to order
any thing in his line not on hand. [apr.2B/65.
g P. HARBAUGH & SON,
Travelling Dealers in
NOTIONS.
In the county once every two months.
SELL GOODS AT CITYPRICES.
Agents for the Chambersburg Woolen Manufac
turing Company. Apl l:ly
DW. C ROUSE,
• DEALER IE
CIGARS, TOBACCO, PIPES, AC.,
On Pitt street one door east of Geo. R. Oster
A Co.'s Store, Bedford, Pa., is now prepared
*ell by wholesale all kinds of CIGARS. All
orders promptly filled. Persons desiring anything
in his line will do well to give bim a call.
Bedford Oct 10. '65.,
JOHN LUTZ, Editor and. Proprietor.
Inquirer Column.
jrpO ADVERTISERS:
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Ikbforb inquirer.
PRESIDENT'S MESSAGE
Delivered at the commencement ol the
Second lingular Session of the i
Fortieth Congress.
Fellow- Citizens of the Senate and House of'
Representatives :
Upon the re-asat inbling of Congress, it
again becomes my duty to call your atten
tion to the state of the Union, and to its
continued disorganized condition under the ;
various laws which have been passed upon
; the subject of reconstruction.
It may be safely assumed, as an axiom iu ;
j the government of States, that the greatest
i wrongs inflicted uj on a people are caused j
| by unjust and arbitrary legislation, or by !
i the unrelenting decrees of despotic rulers, ;
and that the timely revocation of injurious I
and oppressive measures is the greatest '
good that can be conferred upon the nation, j
The legislator or ruler who lias the wisdom
and magnanimity to retrace his steps, when
convinced of error, will sooner or later be
rewarded with the respect arid gratitude of
an intelligent and patriotic people.
Our own history—although embracing a
period less than a century —affords abund
ant proof that most, if not all, of our do
mestic troubles, are directly traceable to vi
olations of the organic law and excessive
legislation. The most, striking illustrations
of this fact are famished by the enactments
of the past three years upon the question i
of reconstruction. After a fair trial they 1
have substantially failed and proved perni
cious in their results, and there seems to be
no good reason why they should longer re
main upon the statute book. S'ates to
which the Constitution guarantees a repub
lican form of government have been reduced
to military depend, ncies, in each of which
the people have been made subject to the
arbitrary wiil of the commanding general.
Although the Constitution requires that
each S ate shall be represented in Congress, I
Virginia, Mississippi and Texas are yet ex
cluded from the two Houses, and contrary
to the express provisions of that instru
ment, were denied participation in ihe re
cent election for a President and Vice Presi
dent for the United States. The attempt
to place the white population under the
domination of persons of color in the South
has impaired, if not destroyed, the kindly
relations that had previously existed be
tween them; and mutual distrust hascngen
dered a feeling of animosity which. Icadiog
in some instances to c Hision and Li i lhed,
has prevented that co operation between the
two races so essential to the success of iu
du-'rial enterprises in the Southern S ates.
Nor have the inhabitants of those States
a!< iie -uffered from the di.-turl d condition
of affairs growing out of these Congressional
enactments. The entire Union has been ag
itated by grave apprehensions of troubles
which might again involve the peace of the
Dation; its interests have been injuriously j
aff.-cted by the derangement of business and
labor, and the consequent want of prosper- j
ity throughout that portion of the country. ;
The Federal Constitution —the magna !
charter of American rights, under whose
wise and salutary provisions we have suc
cessfully conducted all our domestic and for
eign affairs, sustained ourselves inpeaeeand
in war, and become a great nation among
the powers of the earth —must assuredly be
now adequate to the settlement of questions
growing out of the civil war waged alone for
its vindication. This great fact is made i
most manifest by the condition of the coun- j
try when Congrt-- assembled in the month
ofTVaaMmbri, lrti.s. Civil strife bad ceased;
the spirit of rebellion hati spent its entire
force; in the Southern States the people had
warmed into national life, and throughout
the whole country a healthy re action in
pubfc sentiment had taken place. By the
application of the simple yet effective pro
visions of the Constitution, the Executive!
department, with the voluntary aid of the
States, bad brought the workof restoration
as near completion as was within the scape
of its authority, and the nation was encour
aged by the prospect of an early and satis
factory adjustment of all its difficulties. I
Congress, however, intervened and, refusing I
to perfect the work so nearly consummated,
declined to admit members from the uriri p
resented States, adopted a series of measures .
which arrested the progress of restoration.
• frustrated all that had lieen so sueces-fuliy
accomplished, and, alter three years of agi
tation and strife, has left the country farther
from the attainment of union and fraternal !
feeling than at the inception of the emigres- i
sional plan of reconstruction. It needs no
argument to show that legislation which has
produced such baneful consequences should
be abrogated, or else made to conform to
the genuine principles of republican govern
ment. _ j
Under the influence of party passion and
sectional prejudice, other acts have been j
passed not warranted by the Constitution.
Congress has already been made familiar
with niy views respecting the "tenure of of- i
lice bill." Experience has proved that its
repeal is demanded by the best interests of
the country, and that while it remains in
force ihe President cannot enjoin that rigid
| accountability of public officers so essential
1 to an honest and efficient execution of the
; laws. Its revocation would enable the Kx
' eeutive Department to exercise the power of
! appointment and removal in accordance
; with the original design of the Federal Coo
! stitution.
The act of March 2, 1*67, matin.' appro
priations for the support of the army lor the
year ending June 30, 1868, and for other
purposes, contains provisions which inter
fere with the President's constitutional
functions as commander in chief of the ar
my, and deny to States of the Union the
right to protect themselves by means of
their own uiilitia. These provisions should
be at once annulled; for while the first might
in times of great emergency, seriously em
barrass the Executive in eftoits to employ
and direct the common strength of the na
tion for its protection and preservation, the
other is contrary to the express declaration
of the Constitution, that "a well regulated
militia being necessary to the security of a
free State, the right of the people to keep
and bear arms shall not be infringed."
It is believed that the repeal of all such
laws would be accepted by the American
People as at least a partial return to the
fundamental principles of the Government,
and an indication that hereafter the Consti
tution is to be made the Nation's safe and
unerring guide. They can he productive of
no permanent benefit to the country, and
should not be permitted to staod as so many
monuments of the deficient wisdom which
has characterized our recent legislation.
The condition of our finances demands the
early and earnest consideration of Congress.
Compared with the growth of our popula
tion, the public expenditures have reached
an amount unprecedented in our history.
The population of the United States in
1790 was nearly lour millions of people. In
creasing each decade about thirty three per
cent., it reached in 1860 thirty-one millions
—an increase of seven hundred per cent, on
the population in 1790. In 1869 it is esti
mated that it will reach thirty eight milions,
or an increase of eight hundred and sixty
eight per cent, in seventy nine years.
The annual expenditures of the Federal
Government in 1791 were four million two
hundred thousand dollars; in 1820, eighteen
million two hundred thousand dollars; in
1860. forty-one millions; in 1860, sixty-three
millions; in 1865, nearly thirteen hundred
millions, and in 1860 it is estimated by the
Secretary of the Treasury, in his last annual
report, tha they will be three hundred and
seventy-two millions
By comparing the public disbursements
of 1809, as estimated, with those of 1791, it
will be seen that the increase of expenditure
since the beginning of the Goveruuicut has
been eight thousand six hundred and eigh
teen per centum, while the increase of the
population for the same period was only
eight hundred and sixty-eighty per centum.
Again; the expenses of the Government in
BEDFORD, PA., FRIDAY, DEC. 18.. IBGB.
18(30, tbe year of peace immediately preced
ing the war, were only sixty three millions;
while in 1369, the year of peace three years
after the war, it is estimated they will be
three hundred and seventy-two millions —an
inerease of four hundred and eighty-nine per
centum, while the increase of population
was only twenty-one per centum for tbe
same period.
These statistics further show that in 1791
the annual national expenses, compared
with tbe population, were little more than
one dollar per capita, and in 1860 but two
dollars per capita; while in 18(39 they will
reach the extravagant sum of nine dollars
and seventy-eight cents per capita.
It will be observed that all of these state
ments refer to and exhibit the disburse
ments of peace periods. It may. therefore,
be of interest to compare the expenditures
of the three war periods—the war wiih
Great Britian, the Mexican war, and the
war of the rebellion.
In 1813 the annual expenses incident to
the war of 1812 reached their highest
amount—about thirty-one millions; while
our population slightly exceeded eight mil
lions, showing an expenditure of only three
dollars and eighty cents per capita. In 1847
the expenditures growing out of the war
with Mexico reached fifty five millions, and
the population was about twenty-one tub
lions, giving only two dollars and sixty cents
per capita tor the war expen esof that year,
in 18(35 the expenditures called for by tbe
rebellion reached the vast amount of twelve
hundred and niuetv millions, which, com
pared with a population of thirty-four mil
lions, gives thirty-eight dollars anl twenty
cents per capita.
From the fourth day of March, 1789, to
the thirtieth day of June, 1861, the entire
expenditures of the Government were sev
enteen hundred millions of dollars. During
that period we were engaged in wars with
Great Britian and Mexico, and were involv
ed in hostilities with powerful indian tribes;
Louisiana was purchased from France at a
cost of fifteen millions of dollars; Florida
was ceded to us by Spain for five millions;
California was acquired from Mexico for fif
teen millions, and the Territory of New
Mexico was obtained from Texas for the
sum of ten millions. Early in 1861 the war
of the rebellion commeuced; and from the
first of July of that year to the thirtieth of
June, 18(55, the public expenditure reached
the enormous aggregate of thirty three hun
dred millions. Three years of peace have
intervened, aud during that time tbe dis
bursements of the Government have suc
cessively boon five hundred and twenty mil
lion®, three hundred and forty-six millions
and three hundred and ninety-three mil
lions. Adding to these amounts three liun
drt'd and seventy two millions, estimated as
necessary for the fiscal year ending the 30th
of June, 1869, we obtain a total expenditure
ol sixteen hundred millions ot dollars during
the four years immediately succeeding the
war, or nearly as much as was expended du
ring the seventy-two years that preceded the
rebellion, and embraced tbe extraordinary
expenditures already named.
These startling facts clearly illustrate the
neces.-ity of retrenchment in all brancbes of
the public servi'-e. Abuses which were tol
erated during tbe war lor tbe preservation
of the nation will not be endured by the peo
ple, now that profound peace prevails. The
receipts from internal revenues and customs
have, during the past three years, gradually
diminished, and the continuance of useless
and extravagant expenditures will involve
us in national bankruptcy, or else make in
evitable an increase of taxes, already too
onerous, and in many respects obnoxious on
account of their inquisitorial character. < >ne
hundred millions annually are expended for
the military force, a large portion of which
Is employed in the execution of law -
uiiiiiees-ury and unconstitutional; one hun
dred and fifty millions are required each
year to pay the interest on the public debt;
an army of tax gatherers impoveri-hes the
nation; and public agents .placed by Con
gress beyond the control of the Executive,
divert from their legitimate purposes large
sums ol'money whieh they collect from the
people in the name of the Government.
Judicious legislation and prudent economy
can alone remedy defects aud avert evils
which, it suffered to exist, cannot fail to di
tuinish confidence in the public councils, and
weaken the attachment and respect of the
tieople towards their political institutions.
Without the proper care the email balance
which it is estimated will remain in the
Treasury, at the close of the present fiscal
year, will not be realized, and additional
millions be added to a debt which is now
enumerated by billions.
It is shown, by the able and comprehen
sive report of the Secretary of the Treasury,
that the receipts for the lw-al year ending
June 30, 1868, were $4(35,638,083, and that
the expenditures for the same period were
8 .77,340,281. leaving iu the Treasury a sur
plus of $28,297,798. It is estimated that
the receipts during the present fiscal year
ending June 30, 1869, will be $341,392,-
868, and the cxjienditures $336,152,470,
showing a small balance of $5,240398 in fa
vor of the government. For the fiscal year
ending June 30. 1870, it is estimated that
the receipts will amount to $327,000,000,
and the expenditures to $303,(H30.ti00-leav
an estimated surplus of $24,000,000. _
It tieconies proper, in this connection, to
make a brief reference to our public indebt
edness. which has accumulated with such
alarming rapidity and assumed such colles
sal proportions.
In 1789, when the Government Coni
ne need operations under the Federal Con
stitution, it was burdened with an in
debtedness of seventy five millions of dollars,
created during the war of the Revolution.
This amount had been reduced to forty-five
mil ions dollars when in 1812 war was de
clared against Great B itain. The three
years' struggle that followed largely in
creased the national obligations, and in 1816
they had attained the sum ot one hundred
arid twenty even millions. Wise and eco- I
tiotnioal legiriiiion, however, enabled the
Government to pay the entire amount with- i
in a period of twenty years, and the ex- i
tingni.-huiODt of the i ttional debt filled the i
land witli rejoicing, an 1 was one of the great
events of President Jackson's admiui-tra
tion. After its redemption a large fund
remained in the Treasury, _ which was de
! posited for safe keeping with the several
I States, on condition that it should be re
turned when required by the pubjic wants.
In 1849 —the year after the termination of
' an expensive war with Mexico—we found
' ourselves involved in a debt of sixty-four
millions; aud this was the amount owed by
the Government in 18(30, just prior to the
I outbreak of the rebellion. In the spring of
; 1861 our civil war commenced. Each year
I of its continuance made an enormous ad
i dition to the debt; and when, in the spring
I of 1805, the nation successfully emerged
. from the conflict, the obligations of the
1 Government had reached the immense sum
j uf $2,873,992,909.
The Secretary of the Treasury shows that
!on the Ist day" of November, 1807, this
I amount had been reduced to $2,491,504,-
450; But ut the same time his report ex
hibits an increase during the past year of
835,625,102 ; for the debt ou the Ist day of
j November last is stated to have been
| $2.527,129.552. It is estimated by the
! Secretary that the returns uf the past month
i will add to our liabilities the further sum of
j eleven-millions —making a total inerease
! 'luring thirteen months of forty-six and a
1 half millions.
In my message to Congress of December
!4, 1865, it was suggested that a policy
j should be devised whieh, without being op
I pressive to the people, w.mld at once begin
to effect a reduction of the debt, and, if
■ persisted in, discharge it fully within a
! definite number of years. The Secretary of
I the Treasury forcibly recommends legisla
! tion of this character, and justly urges that
the longer it is deferred the more difficult
| must become its accomplishment. \\ e
shonld follow the wise precedents established
in 1789 and 1816, and without further delay
make provision for the payment of our ob
ligations at ascatly a period as may be prac
ticable. The fruits ol their labors should be
' eDjoyed by our citizens, rather than used to
build up and sustain moneyed monopolies in
our own and other lands. Our foreign debt j
is already computed by the Secretary of the
'i reasury at eight hundred and fifty millions;
citiaens of foreign countries receive interest
upon a large portion of our securities, and
American tax-payers are made to contribute i
large sums for their support. The idea that
such a debt is to become permanent should I
bq at all times discarded, as involving tax- 1
atton too heavy to be borne, and payment j
once in every sixteen years, at the present
rafteof interest, of an amount equal to the
original sum. This vast debt, if permitted i
tobeeoine permanent and increasing, must
eventually be gathered into the hands of a
few. and enable them to exert a dangerous :
and controlling power in the affairs of the
Government. The borrowers would become
servants to the lenders —the lenders the j
masters of the people. We now pride our- I
selves upon having given freedom to four'
millions of the colored race ; it will then be
oarshame that forty millious of people, by
their own toleration of usurpation and prof
ligacy, have suffered themselves to become
eablaved, and merely exchanged slave-own
ers for new taskmasters in the shape of
bondholders and tax gatherers. Beside.,,
ptrmaneut debts pertain to monarchical
governments, and, tending to monopolies,
perpetuities, and cla-s legislation, are totally
irreconcilable with free institutions. In
troduced into our republican system, they
would gradually but surely sap its founda
tions, eventually subvert our governmental
fabric, and erect upon its ruins a moneyed
aristocracy. _ It is our sacred duty to trans
mit unimpaired to our posterity the bless
ings ofliberty which were bequeathed to us
by the founders of the Republic, and by our
example teaeh those who are to follow us
carefully to avoid the dangers which threat
en a free aud independent people.
Various plans have been proposed for the
payment of the public debt. However they
may have varied as to the time and mode in
Which it should bo redeemed, there seems
to be a general concurrence as to the pro
priety and justice of a reduction in the
present rate of interest. The Secretary of
the Treasury in his report recommends five
jter cent. Congress, in a bill passed prior
to adjournment on the 27th of July last,
agreed upon four and four and a half per
cent. : while by many three per cent, has j
been held to be an amply sufficient return
for the investment. The general impression
as to the exorbitancy of the existing rate of
interest has led to an inquiry in the public
-mind respecting the con-ider'tion which the
government has actually received for its
bonds, and the conclusion is becoming
prevelent that the amount which it ob
tained was in real money three or four
hundred per cent, less than the obligations
v.hieh it i-sued in return. It cannot be
J uied that we are paying an extravagant
tier centage for tbe use of the money
I rowed which was paper currency, greatly
depreciated below the value of coin. This
fact is made apparent when we consider that
bondholders receive from the Treasury, upon
each dollar they own in government seen
rities, six per cent, in gold, which is nearly
or quite equal to nine per cent, in currency;
that the bonds arc then converted into
capital for tbe national banks, upon which
those institutions issue their circulation,
bearing six per cent, interest; and that they
are exempt from taxation by the Govern
ment and the States, and thereby enhanced
two per cent, in the hands of the holders.
We thus have an aggregate of seventeen per
cent., which may be received upon each
dollar by the owners of Government secu
rities. A system that produces such re
-ults is justly regarded as favoring a lew at
the expense of the many, and has led to the
further inquiry whether our bondholders,
ill *!*** of ik juuGlO TOlxzvla tlicjr laaa'-'O
enjoyed, would themselves be averse to a
settlement of our indebtedness upon a plan
which would yield them a fair remuneration,
and at the same time be just to the tax
payers of the nation. Our national credit
should be sacredly observed; but in making
provision for our creditors we should not
forget what is due to the ina--.'s of the
people. It may be assumed that the holders
of our securities have already received upon
their bonds a larger amount than their
original investment, measured by a gold
standard. Upon this statement of facts it
would seem but just and equitable that the
ix per cent, interest now paid by the Gov
eminent should be applied to the reduction
of the principal in semi-annual instalments,
which in sixteen years and eight months
would liquidate the entire national debt.
Six per cent, in gold would at present rates
be equal to nine per cent, in currency, and
equivalent to the payment of the debt one
and a half times in a fraction less than
seventeen years. This, in connection with
all the other advantages derived from their
investment, would afford to the public cred
itors a fair and liberal compensation for the
use of their capital, and wtih this they
should be satisfied. The lessons of the past
admonish the lender that it is not well to be
overanxious in exacting from the borrower
rigid omi 1 anco with the letter of the bond.
If provision be made fir the payment of
the indebtedness of tbe Government in the
manner suggested, our nation will rapidly
recover its wonted prosperity. Its interests
require that some measure should be taken
to release the large amount of capital invested
in the securities of the Government It is
not now merely unproductive, but in taxa
tion annually consumes one hundred and
fifty millions of dollars, which would other
wise be used by our enterprising people in
adding to the wealth of the nation. Our
commerce, which at one time successfully
rivalled that of the great maritime Powers,
lias rapidly diminished, and our industrial
interests are in a depressed and languishing
condition. The development of our inex
haustible resources is checked, and the fertile
fields of tbe South are becoming waste for
want of means to till them. With there-,
lease of capital, new life would be infused
into the paralyzed energies of our people,
and activity and vigor imparted to every
ranch of iudu-t I .e. Our people mod cn
■ouragement in their efforts to rccov. r from
be effect- of the rebellion and of injudicious
legislation; and it should be the aim of the
Government to stimulate them by the pros
pect of an early relea.se from the burdens
which impede their prosperity. 11 we cannot
take the burdens from their shoulders, we
should at least manifest a willingness to help
to bear them.
In referring to the condition of the circu
lating medium, I si a 1 merely reiterate, sub
stantial y, that portion of my last annual
message which relates to that subject.
The proportion which the currency of any
country should bear to the whole value of
the annual produce circulated by its means
is a question upon which political economists
have not agreed. Norcan it be controlled
by legislation, but must lie left to the ir
revocable laws which everywhere regulate
commerce and trade. The circulating me
dium will ever irresistably flow to tho se 1
points where it is in greatest demand. Ihe
law of demand and supply is as unerring as
that which regulates the tides of the ocean;
and indeed currency, like the tides, has its
ebbs and flows throughout the commercial
world.
At the beginning of the rebellion the bank
note circulation of the country amounted to
not much more than two hundred millions of
dollars. Now the circulation of national bank
notes and those known as "legal tenders'
is nearly seven hundred millions. 33 hue
it is urged by some that this amount should
be increased, others contend that a decided
reduction is absolutely to the best
interests of the country. In view of these
diverse opinions, it may be well to ascertain
the real value of our paper issues, when
compared with a metalic or convertible cur
rency; For this purpose, let us inquire
bow much gold and silver could be purchas
ed by the seven hundred millions ot paper
money now in circulation ? Probably not
more than half tl\e amount of the later
showing that when our paper currency is
compared with gold and silver, its commer
cial value is compressed into three hundred
and fifty millions. This striking fact makes
it. the obvious duty of the Government, as
early as may be consistent with the princi-
ples of sound political economy, to take
such measures as will enable the holder of
its notes aud those of the National banks
to convert them, without loss, into specie
or its equivalent. A reduction of our paper
circulating medium need not necessarily fol
low. This however, would depend upou
the law of demand and supply, though it
should be borne in mind that by making
legal tender and bank notes convertible into
coin or its equivalent, their present specie
value in the hands of their holders would be
enhanced one hundred percent.
Legislation for the accomplishment of a
result so desirable is demanded by the high
est public con The Constitution
contemplates that tbe circulating medium of
the country shall be uniform iu quality and
value. At the time of the formation of that
instrument, the country had just emerged
from the War of the Revolution, and was
suffering from tbe effects of a redundant
and worthless paper currency. The sages
of that period were anxious to protect their
posterity from the evils which they them
selves had experienced. Hence, in provi
ding a circulating medium, they conferred
upon Congress the power to coin money and
regulate the value thereof, at the same time
prohibiting the States from making any
thing but gold and silver a tender in jmy
uicnt of debts,
The anomalous condition of our currency
is in striking contrast with that which was
i ginally designed. Our circulation now
embraces, first notes of the National Banks,
which are made receivable for all dues to
the Government, excluding imposts, and by
all its creditors, excepting in payment of in
terest upon its bonds and the securities
themselves; second legal tender notes, issued
by the United States, and which the law re
quires shall be received as well in payment
ot all debts between citizens as of all Gov
ernment dues, excepting imposts; and, third
gold and silver coin. By the operation of
our present system of finance, however, the
metallic currency, when collected, is reserv
ed onlv for one class of Government credi
tors. who, holding its bonds, scmi-annually
rceeive their interest in coin from the Na
tional Treasury. There is no reason which
wiil bi accepted as satisfactory by the people
why those who defend us on the land and
protect us on the sea; the pensioner upon
the gratitude of the nation, bearing tbe
scars and wounds received while in its ser
vice; the public servants in the various De
partments of the Government; the farmer
who supplies the soldiers of the army and
the sailors of the navy; the artisan who toils
in the nation's workshops, or the mechanics
and laborers who build its edifices and con
struct its forts and vessels of war—should,
in payment of their just aud hard earned
dues, rec. ive depreciated paper, while an
other class of their countrymen, no more
deserving, are pail in coin of gold and ilver.
Equal and exact justice requires that all the
creditors of the Government sh mid be paid
in a currency possessing a uniform value.
This can only be accomplished by the res
toration of the currency to the standard es
tablished by the Constitution; and by this
means we would remove a di-crimination
which may, if it has not already done so,
create a prejudice that may become deep
rooted and wide spread, and imperil tbe na
tional credit.
The feasibility of making our currency
correspond with the constitutional standard
may be seen by reference to a few facts de
rived from our commercial statistics.
The aggregate product of precious metals
in the United States from 1849 to 1867
amounted to $1,173,000,000, while, for the
same period, the next exportsofspecia were
$741,000,000. This shows an excess of
product over net exports of $433,000,000.
There are in the Treasury $lO3 705,985 in
•oin; in circulation >r> the "-Dates nn the
Pacitic Coast about $40,000,000, and a few
millions in the National and other Bank? —
in all iess than $160,000,000. Taking into
consideration the specie in the country prior
to 1-49, and that produced since 1867, and
we have more than $300,000,006 not ac
counted for by exportation or I# the returns
of the Treasury, and therefore most probably
remaining in the country.
These are important facts aud show how
completely the inferior currency will super
cede the "better, -forcing it from circulation
among the masses and causing it to be ex
ported as a mere article of trade, to add to
the money capital of foreign lands. They
show the necessity of retiring our paper
money, that the return of gold and silver to
the avenues of trade may be invited, and a
demand created which will cause the reten
tion at home of at least so much of the pro
ductions of our rich and inexhaustible gold
bearing fields a? may be sufficient for pur
poses of circulation. It is unreasonable to
expect a return to a sound currency so long
as the Government and banks, by continuing
to Issue irredeemable notes, fill the channels
of circulation with depreciated paper. Not
withstanding a coinage by our mints, since
1849, of eight hundred and seventy-four
millions of dollars, the people are now stran
gers to the currency which was designed for
their use andbbenefitf t and specimens of the
precious metals bearing the national devices
are seldom seen, except when produced to
gratify the interest excited by their novelty.
If depreciated paper is to be continued as
the permanent eurreney of the country, and
all our coin is to become a mere article of
traffic and speculation, to the enhancement
in price of all that is indispensable to the
comfort of the people, it would be wise
economy to abolish our mints, thus_ saving
the nation the care and expense incident to
such establishments, and let all our precious
metals be exported in bullion. The time
has come, however, when the government
and natiouai banks should be required to
take the most efficient steps and make all
necessary arrangements for a resumption of
specie payments. Let specie payments once
be earnestly inaugurated by the government
and bank-, and the value of the paper circu
lation would directly approximate a specie
standard.
Specie payments having b< < n resumed by
the Government and banks, all notes or bills
of paper issued by either of a less d<-nouii
nati n ih ol twenty dollars should by law bo
excluded from circulation, so that the peo
ple n. ay have the benefit and convenience of
a gold and silver currency which in all their
business transactions wiil be uniform in
value at home and abroad.
"Every man ot property or industry,
every man who desires to preserve what he
honestly possesses, or to maintain what he
can honestly earn, has a direct interest in
maintaining a safe circulating medium —
such a medium as shall be real and substan
tial, not liable to vibrate with opinions, not
subject to be blown up or blown down by
the breath of speculation, but to be stable
and secure. A disordered currency is cue
of the greatest political evils. It under
mines the virtues necessary for the support
of the social system, and encourages propen
sities destructive of its happiness: it wars
against iudusiry, frugality and economy,
and it fosters the evil spirits ot extrava
gauce and speculation. It has been asser
ted by one of cur profound aud most gilted
statesmen, that "of all the contrivances for
cheating the laboring classes ot mankind,
none has been more effectual than that
which deludes them with paper money. I his
is the most effectual of inventions to fertil
ise the rich man's fields by the sweat of the
poor man's brow. Ordinary tyranny, oppres
sion. excessive taxation —these bear lightly
on the happiness of the mass of the commu
nity compared with a fraudulent currency,
and the robberies committed by depreciated
paper. . ...
The Secretary of the Interior, in his re
port givc-a valuable information in reference
to the interests confided to the supervision
of his department, and reviews tbe opera
tions of the Land (Iffiee, Pension office, 1 at
ent Office and the Indian Bureau.
During the first fiscal year eudiDg June ->0
1868 six millions six hundred and fifty five
thousand seven hundred acres of public land
were disposed of. The entire cash receipts
of the General Land Office for tho same pe
riod were $1,632,7 5, being greater by $284,-
883 than the amount realized from the same
sources during the previous year. Ihe en
tries under the homestead law cover two
voir. 41: AO. 49
million three hundred and twenty-eight
thousand nine hundred and twenty-three
acres nearly onc /durth of which was taken
under the act of June 21, 1866, which ap
plies only to the State* of Alabama, Missis
sippi, Louisiana and Florida.
On the 30th of June, 1868, ODC hundred
and sixty-nine thousand six hundred and
forty three names were borne on the pen
sion rolls, and during the year ending on
that day the total amount paid for pensions,
including the expenses of disbursement.
$>24,010,5)82, being *5,391,025 greater than
expended for like purposes during the pre
ceding year.
During the year ending the 30th of Sep
tembc r last, the expenses of the Latent Office
exceeded the receipt*.by one hundred and
-x-rcniy-one dollars; and, including to-issues
arid designs, fourteen thousand one hundred
and fifty- three patents were issued.
Treaties with various Indian tribes have
been concluded, and wiii be submitted to
the Senate for its constitutional action. 1
cordially sanction the stipulations which
provide for reserving lands for the variom.
tribes, where they may be encouraged to
abandon their nomadic habits and engage
in agricultural and industrial pursuits.
This policy, inaugurated many years .Um,
bas met with signal success, wlie'rever it has
been pur.-ued in good faith and with be
coming liberality by the United States. The
necessity far extending it as far as practica
ble in our relations with the aboriginal popu
lation is greater now than at any proceeding
period. Whil-t we furnish subsistence and
instruction to the Indians, and guarantee
the undisturbed enjoyment of their treaty
rights, we should habitually insist upon the
faithful observance of their agreement to
remain within their respective reservations.
This is the only mode by which collisions
with other tribes and with the whites can
be avoided, and the safety of our frontier
settlements secured.
The companies constructing the railway
from Omaha to Sacramento have been most
energetically engaged in prosecuting the
work, and it is believed that the line will be
completed before the expiration of the next
fiscal year. The six per cent bonds issued
to these companies amounted on the slh
inst, to $44,337,000. and additional work
has been performed to the extent of *3.200,-
000.000.
The Secretary of the Interior in August
last invited my intention to the report of a
Government director of the Union Pacific
railroad company, who bad been specially
instructed to examine the location, construc
tion and equipment of their road. I sub
mitted for the opinion of the Attorney
General certain questions in regard to the
authority of the Executive which arose upon
this report, and those which had from time
to time i.een presented by the eommission
r s appointed to inspect each successive sec
tion of the work. Alter carefully consider
ing the law of the case, he affirmed the right
of the Executive to order, if necessary, a
thorough revision of the entire road. Com
missioners were thereupon appointed to
examine this and other lines, and have
recently submitted a statement of their in
vestigations, of which the report of the
Secretary of the Interior furnishes specisc
information.
The report of the Secretary of War con
tains information of interest and importance
respecting the several Bureaus of the War
Department and the operations of the army.
The strength of our military force, on the
30th of September last was forty-eight thous
and men, and it is computed that, by the
first ol January next this number will be
decreased to forty-three thousand. It is
the opinion of the Secretary of War that
within the next year a considerable diminu
tion of the infantry force may be made with
out detriment to the interests of the count
ry; and in view of the great expense attend
ing the miiitajv peace establishment, and
theabsolute necessity of retrenchment when
ever it can be applied, it is hoped that
Congress will sanction the ruduction which
his report recommends. While in 1860
sixteen thousand three hundred men cost
the nation $18.472,(XX), the sum of $65,-
682,000 is estimated as necessary for the
support of the army during the fiscal year
ending June 30. 1870. The estimates of
the War Department for the last two fiscal
year were, for
I>GS $25,205,669. The actual expenditures
during the same periods were, respectively,
$95,224,415 and $123,246,G45. The esti
mate submitted in December last for the
fiscal years ending June 30, 1869, was $77,-
125,707; the expenditures for the first quar
ter. ending the 30th of September last, were
$27,229,117, and the Secretary of the Trea
sury gives $66,000,000 as the amount which
will probabiy le required during the remain
ing three quarters, if there should be no
reduction of the army —making its aggngate
cost for the year considerably in excess of
ninety three millions. The difference be
tween the estimates and expenditures for
the three fiscal years which have lieen named
is thus shown to be $175,545,343 for this
single branch ot the public service.
The report of the Secretary of the Navy
exhibits the operations of that Department
and of the Navy during the year. A consid
erable reduction of the force has been effect
ed. There are forty two vessels, carrying
four hundred and eleven guns, in the six
squadrons which are established in different
parts of the world. Three of these vessels
are returning to the United States, and four
are used as store ships, leaving the actual
cruising force thirty five vessels, carrying
three hundred and fifty six guns. The total
number of vessels in the navy is two hundred
and six. mounting seventeen hundred and
forty three guns. Eighty one vessels of
every description are in use, armed with six
hundred and ninty six guns. The number
of enlisted men in the service, including ap
prentices. has been reduced to eight thous
and five hundred. An increase of navy
yard facilities is recommended as a measure
which will, in the event of war, be pro
motive of economy and security. A more
through and systematic survey of the North
Pacific Ocean is advised in view ot recent
acquisitions, our expanding commerce, and
the increasing intercourse between the Pa
ifie States and Asia. The naval pension
fund, which consists of of the avails of prizes
captured during the war, amounts to §14,-
0(H),000. Exception is taken to the act of
23d July last, which reduces the interest on
the fund loaned to the Government by the
. Secretary, as trustees, to three per cent.,
instead of six percent., which was original
ly stipulated when the investment was mane.
An amendment of the pension laws is sug
gested to remedy omissions and defects in
existing enactments. The expenditures of
the Department during the last fiscal year
were $20,120,394, and the estimates for the
coming vear amount to $20,993,414.
The Postmaster Genetal'sreport furnishes
a full and clear exhibit of the operations
and condition of the postal service. Ihe
ordinary postal revenue for the fi.-cal year
June 30, 1868, was $10,292,6u0, and the
total expenditures, embracing all the serwee
' for which special appropriations have hcen
made by Congress, amounted to $22,1 30,-
582, showing an excess of expenditures ol
$6 437.991. Deducting from the expendi
tures the sum of $1,196,525, the amount of
appropriations for ocean steamship and
other special service, the excess of expendi
tures was $5,541,446. By using an unex
pended balance in the treasury of $3,800,-
000, the actual suui for which a special ap
propriation is required to meet the deficien
cy is $741,466. The causes which produced
this large excess of expenditure over reven
ue were the restoration of service in the late
insurgent State* and the putting into opera
tion of new service established by acts of
Congress, which amounted, within the last
two years and a halt, to about 48, ')0 inucs
—equal to more than one-third of the whole
amount of the service at the close of the war.
New postal conventions with Great Britain,
North Germany, Belgium, the Netherlands,
Switzerland and Italy, respectively, have
been carried iuto effect. Under their pro
vision importaint improvements have resul
ted in reduced rates of international postage,
and enlarged mail facilities with Kuropean
countries. The cost of Ijnited Mates trains.
Atlantic ocean mail service since January
RATES OT ADVERTISING.
All advertisement* for leM than $ months 10
cent* per Una for each insertion, ftpeeiol Belies*
wna-half addflional. AH reloiuHoos of Jseoeia
liom, conrmßrieethma of a lir. ited or tadtvMal
intereit and notices of marriage* and death*, ex
ceeding five liner, 10 eta. per Jine. AH legal noti
-1 r t of every Lind, and all OrjJiaa*' Court and
other Judicial rales, ere required by law to be pnb
liibed in both papers, Editorial Notice* 15 cent*
per line. Ail Advertising due after first insertion.
A liberal discount made to yearly advertiser*.
3 merits. 6 month*. 1 year
One nquare $ 4.50 $ 6.00 SIO.OO
Twe squares 6.00 0.00 16.00
Three squares 8.00 12.00 20.00
One-fourth column - 14.00 2-.t.CQ 35.00
Half column 18.00 2*i.00 45.00
One column 39.00 45.00 80.60
I !, 1868. has been largely lessened under
the operation of these new conventions, a
reduction of over one-half having been
effected under the new arrangements for
ocean mail steamship service which went
into effect on that date. The attention of
Congress is invited to the practical sugges
tions and recommendations made in his re
port l>y the Postmaster General.
No important question lias occurred dur
ing the last year iu our accustomed cordial
and friendly intercourse with Costa Rica,
Guatemala, Honduras, Sin Salvador,
Franco, Austria, Belgium. Switzerland,
IV-rtugal, the Netherlands, Denmark,
Sweden arid Norway, Greece, Turke.v,
Persia, Tndia, Liberia. Morocco, Tripoli,
Tunis, Muscat Siam, Borneo, and Mada
gascar.
Cordial relations have al-o boon maintained
with the Argentine and Oriental Republics.
'Hie expressed wish of Congress that our
national good offices might be tendered to
those Republics, and also to Brazil aud Para
guay, for bringing to an end the calamitous
war which has so long lieen raging in the
Valley of the La Plata, has beeu assiduously
•outiJied with, aud kindly *"*. nowit-dpred by
all the belligerent". That important nego
tiation, however, has thus far been without
result.
Charles A. Washburne, late United States
Minister to Paraguay, having resigned, and
being desirous of returning to the United
States, the Rear Admiral commanding the
South American squadron, was early direct
ed to send a ship of war to Asuncion, the
capital of Paraguay, to receive Mr. Wash
burne and his family, and remove them from
a situation which was represented to be en
dangered by faction and foreign war. The
Brazilian commander of the allied invading
forces refused admission to the Wasp to pass
through the blockading forces, and that
vessel returned to its accustomed anchorage.
Remonstrance having been made against this
refusal, it was promptly overruled, and the
Wasp therefore resumed her errand, received
Mr. Washburne and family, and conveyed
them to a safe and convenient seaport. In
the meantime an excited controversy has
ari=eu between the President of Paraguay
and the late United States Minister, which it
is understood grew out of his proceedings in
giving asylum in the Unite! States legation
to alleged enemies of that Republic. The
question of the right to give asylum is one
always difficult, and often productive of great
embarrassment. In States well organized
and established, foreign Powers refuse to
concede or exercise the right, except as to
persons actually belonging to the diplomatic
service. Ou the other hand, all such Powers
in-ist upon exercising the right of asylum in
States where the law of nations is not fully
acknowledged, respected and obeyed.
The President of Paraguay is understood to
have opposed to Mr. Washburne'a proceed
ings the injurious and very probable _ charge
of occasional complicity in insurrection and
treason. The correspondence, however, has
not yet reached the United States.
Mr. Washburne, in connection with this
controversy, represents that two United
States citizens attached to the legation were
arbitrarily seized at his side, when leaving
the capital of Paragna, committed to prison,
and there subjected to torture for the pur
pose of procuring confessions of their own
criminality, and testimony to support the
President's allegations against the United
Slates Minister. Mr. M : Mahon, the newly
appointed Minister to Paraguay, having reach
ed the La Plata, has been instructed to pro
ceed without delay to there to in
vestigate the whole subject. The Ad
miral commanding the United States South
Atlantic Squadron has been directed to at
tend the new Minister with a proper navat
forr-a in Gustniu <-■cl.,o*t demands as the oc
casion may require, and to vindicate the
rights of the United States citizens referred
to, and of any others who may be exposed to
danger in the theatre of war. With these
exceptions, friendly relations have been
maintained between the United States and
Brazil and Paraguay.
Our relations during the past year with Bo
livia, Ecuador, Peru and Chile, have become
especially friendly aud cordial. Spaiu and
the Republics of Peru, Bolivia and Ecuador
have expressed their willingness to accept the
mediation of the United States for termina
ting the war upon the South Pacific coast.
Chili has not finally declared upon the ques
tion. In the meantime the conflict has prac
tically exhausted itself, since no belligerent
or hostile movement has been made by either
party during the last two years, and there are
no indications of a present purpose to resume
hostilities on either side. Great Britain and
France have cordially seconded our proposi
tion of mediation, and I do not forego the
hope that it may soon be accepted by all the
belligerents, and lead to a secure establish
ment of peace and friendly relations between
the Spanish American Republics of the Paci
fic and Spain —a result which wonld be at
tended with common benefits to the belliger
ents and much advantage to all commercial
nations.
I communicate, for the consideration of
Congress, a correspondence which shows that
the Bolivian Republic has esfablisned the ex
tremely liberal principle of receiving into its
citizenship any citizen of the United State*,
or of any other of the American Republic*,
upon the simple condition of volunteer reg
istry.
The correspondence herewith submitted
will be found painfully replete with accounts
of the ruin and wretcbeduess produced by re
cent earthquakes of unparalled severity, in
the Republics of Peru, Ecuador and Bolivia.
The diplomatic agents and naval officers of
the United States who were present in those
countries at the time of those disasters, fur
nished all the relief in their power to the suf
ferers, and were promptly rewarded with
grateful and touching acknowledgements by
the Congress of Peru. An appeal to the
charily of our fellow-citizens nas been an
swered by much liberality. In this connec
tion I submit an appeal which has been made
by the Swiss Republic, whose government
and institutions are kindred to our own, in
behalf of its inhabitants, who are suffering
extreme destitution produced by recent de
vastating inundations.
Our relations with Mexico during the year
have been marked by an increasing growth of
mutual confidence. The Mexican Govern
ment has not yet acted upon the three
treaties celebrated here last summer for es
tabiishiug the rights of naturalized citizens
upon a liberal and just basis, for regulating
consular powers, and for the adjustment of
mutual claims.
All commercial nations, as well as friends
of Republican institutions, have occasion to
regret the frequent local disturbances which
occur in some of the constituent States of
Columbia. Nothing has occurred, however,
to affect the harmony and cordial friendship
which have for several years existed between
that youthful and vigorous Republic and our
own.
Negotiations are pending with a view to
the survey and construction of a ohip canal
across the Isthmus of Darien, under the
auspices of the United States. I hope te be
able to gnbmit the result of that negotiation
to the Senate during its present session.
The very liberal treaty which was entered
into last year by the United States and Niea
rauga has been ratified by the latter Repub
lic.
Costa Uiea, with the earnestness of a sin
cerely friendly neighbor, solicits a reciprocity
of trade, which 1 commend to the considera
tion of Congress.
The convention created by treaty between
the United States and Venezuela in July,
1860, for the mutoal adjustment of claims,
has been held, and its decisions have been
received at the Department of State. The
heretofore recognized government of the
United States of Venezuela has been sub
verted. A provisional government having
been instituted under circumstances which
promise durability, it has been formally rec
ognized.
L have been reluctantly obliged to ask explana
tion and satisfaction for national injuries com
mitted by the President of Hayti. The politi
cal and social condition of liayti and . t.
Domingo is very unsatisfactory and painful.
The abolition of slavery, which has been _car-
ried into effect throughout the island of St.
Domingo and the entire \\ est Indies, except
the Spanish Islands of Cuba and Porto Bico,
has been followed by a profound popular con-
COSCIADED OX FOURTH PACK.