RATES OF ADVERTISING.
Tin line r If.'toHJ XmpOrdt, reftjffMdr
, 11 kit.
4W It w 1
It Wjl X)
li 110117 Oil'
II amir, on
Obi a ma,
if. UOiVi 00
J J Column...,..
ho mi:i ni
i miw oo
..' .; .To Advertisers.; : '
Parti. adveH l.lHnr nf".t ffj",
Itlron limn, will b. con fi ned VXTlW:
au.te buKlnwwi anything putalda of I til.
will beiUmrard for wparat.ly. .
. Advertisers, ftw ?Rf,Bd.i.,mV
eocdln threa montUn. will hnveth prtvi
Iihm or r.newlna their edvrliiMwiU
jnarterlyt allt ohauaes wlU be
'awi'ltouo'le-coltimn advertisement, will
he charged one-third mora than regular
riti for .ingle columns. ,
- f umn-Hl Nollcea, Obltuarle. or any
other mutter subserving; private lntemt,
will be charged fur. -. . -
Notice la local and .portal eolura.
are mailer, oi i)im contract,
i I 1 11 , J
GEO. F. HILL & CO.,
Tobacco and General Oom-
NO. 4J, BROAD STIIIET,
Soi.trrr roNHtnWMRSTf of clarks
vlllo or K.ntnrky Laaf Tooacoo forwlv
In the New Vock Market, plwlalng oar teat
riTbrln In wiling to plne all who may eon
W. would rfrtlioi! who may be Inrtln
rd to lil p Toliaceoor othor nrorttHWtoaa.lo
t.ur friend., Mr. U. H. WlWwM and Mr. Au-
L.T.H JOHNHOM, m ' ,
The nirnal advanrea mad ou aonalgn-
lnont. when rrqulrad. 4 ' t - I,. ,
P. U. Box d7U, New ork.
?Cov. 7), M8-!hn.
VM. llnoAimfa. JoaM. M. Kk-b, Ao'T.
111,1. BROW & CO.
Vholeaale and Itotall Doalan In ,
Htuple and Fancy Dry Goods
HITS, CAPS, BOOTS. SHOES,
HOSIERY, NOTIONS, ETC.,
No. , South .IdM of KrnnklliiHtrwt.algnor
lllg Trunk. Call uud we them.
ifrmr. R. H. PiCKKamn.R.K. Hboad
ra, Joit.i .1. Maimie, U, W. Asuun.
Hep 18. IHBH-tf
W. A. UUAU1.EI,
Attornoya at Law
T A. Ut'AHl'KI WIM. ATTKNP
W , regulnrlv ihfConrtaol t'hrl.tlau eo.
OctobHr HI, IxdiHtni
P. H. PORTER, Agent,
HOl'SE FURNISHING GOODS, &
CLIRKSVIUE, . -TEXNF.SSEK,
1 I AHJCMTIlKr i'lVKn A LARIIIV-OTO"
llwAI.I. r il'tR ami UOHDCIM of
Ihu Inli-Nt i !.
April 17, IMUa-tf.
DR. H. M. AC2EE,
( iflli at bin tirw residincc on Frnnktiii
.ireel, two Jouri Ka'l of llie" Kiilwonal
fhunh. tJnn- 1 I""-".
J. G. ROBINS,
Attorney at Law,
Hnr-Hiil attontlon pnJd to I he collection of
April 10, imi tf.
A. K. Hmitii, Into of Hinllh & Turnlvy.
1i. H.llfTiiu.Niia,lnUMif Hutching (Irlnti'r
K. W, WK.iTilcna, Into of Ttmiloy eV
SMITH S HUTCHIXGS,
" Cl'Xhr.RlVND WARF.HIUSK,"
W. H. & D. M. DORRIS,
Ftovcs, Tinware, Casllngs,
Grates, and House Fur
F.rerr denriptinn of 'J"i u V It ro
pi.d. p in good ityl.
KOtiFINU ad UnERIXfl prompll)
r"ll. P. UOnniS will uprinlenj tlir
work and mlefrooin.
Sept. a, mm-tf
JimN K, HMITII. J. F. SMITH
JOHN K. SMITH & SON,
COTTON St TOBACCO FACTORS
Genernl Commission Merrliants
XI). U BR0IU STREET,
MJW YOHK CITY.
W. C. SMlTII will at Mnr Ajent In
winking advance, nn roniijiiiurntf.
Feb. JI, IHil.-ly.
lltHE FAM. HFKHlON OK TIU" 1NKTI
I tlllllMI IK-glll. Oil 111 ilM W i'l
Fi lmary teuartuteul....
I'n puralory "
... i i"'
t .u of lii.irumriit - l mi
I leiieti nml licriiiMii, iachH - tu
iiwk and I .Ml III I"
llonldllig ' '
M nllllikt. per Uo.ell.. OI'
Mi.irlculituou - 1 IA
Jiim. it. A':nT. 1'r.Vl.
t'lurkavllle, Jul) .'I, 'ilf.
HIDES! HIDES!! HIDES!!
airK WILL fY 1IIK HIi 111 VST M Alt -
Y k.t pi ee for all llidc.l liver.-.! at our
I'liiti'Ty uB I rout lr l li V Hie, T u-
. ll MM i.l .. A I o
the; st, tours
IIFE , IWII1ME
a llim COM PA NT, SO rXTENWVEIV
, natronlred throughout iim West and
Um.il. I,...H.UI llinlf.ld.il . 1 ....1
aUUili.liediu claim to their steam and
Ita poml-annnat report and statement to
the 1st or July, lstis, .how. an Inrmmn
highly satisfactory to Ita officer, and txillrr
holdi-mand ilium the lion. Kllrur Wiiiiht,
ma jiikiiput nuiiuiriiy on iiin inHiininno in
cl.4i Knd llnblltm Maroli Dint, MUM, ha my.
il im. company I ' in a uorieeiiy
mind, and tndeoa nlgliiy pronparou. con
dltlon." . ' r
Nolo Ita progrea alnea January lt. 1MM i
Aawu Junuary lit, 2l.r7
Of 'all the financial linnltullon of onr
tlmea. I.lfe Inmirfincat'oinpunica have the
moat Intimate and rnr-reachlug, If not the
in out exummvo, reunion wlin iiumnn
horjeaand hannlneM. and the mnal nd
Ixiih of arlenoa and prewbnce (or thi'lr
niwokafor lmelf in behalf of thai ompany,
: , , f K lULIfKI.! Agenb
(HBoe os FranaJlu MVrevt,i
Oct (. 'OtMUn. - , . , . .
First national Bank;
Owntdbj IndiVldiialiDf this dtj nd Vicinity
. vo; ii
i.l i. i
i.; f . mrnosrr, !
' Ot. w UlLlKA,
iso. a. iw.iriUD,
w. mciAg,' ji
4. o. .nokiiRuaw,
Issues no Notes of its own.
AVOIDS THAT RISK.
BKf RIVER DEPOSITS, tlKH.H II EI-
CM 4 NO K, liOLB AMI filLTKR X5
l.MTKD STATES BONDS, KKUS i
SInT B BAFTS OS NEW
- . 10UK, I.OUHVII.I.K,
" AMD OTHER CITIES. u 1' '
C01LECT10XN HADE AYB PB0MPTLT
V . B. i1. BKH'IOXT, Pre.'!,
i W. P. HI MR, i'ukler. ?,!..
November 10, IH08 )y.
UUITLOt K, McKlSNEV & CO..
TRICE'S 1AXDI5Q, TKJi.X.
Nprelal attentlaii Rlveav I Ibo In-
NMNUn ad Hatla TOAXO.
(VinA rft ffnffrtl on 7b6etceo iSYorc.
J. B. TAPSGOTT
Pinna nml unecificalioni of Rililpei fur-
nislicd, also of ISuiMiiiKf anil (IniHinenlal
(IniuinU. Work of every ilrwription con
nected wild liiiililinR incufurrd ami calviilv
ted. Alu, M.niifnt'lnrers A (rent lor steam
Knginci and Machinery of every description,
Imu Vcraii'luli., Unilinp, Marbelizrd Iron
Mimilc.. Cinteii, Window Cnp, elo, Terr.
Cotl. OriinmeiiLl Work, Chimney Topj, nd
nil kimln of IlniMlnp M.terinl, finislicd and
iihtinisliwl, euihraced In cnrpenler. work;
U.lrnnirrd Iton, Cupper, Zinc, Tin, Blnte
and roinpraiiiou Rnoliiifr.
All buiiiiets intru.ted to in. will be at
tended to promptly.
fttf Oflic, on Hatt tide of Puhlir Sqintre,
ClnrkMille, T. nn. Jan. 3, 18(l8-tf
a. n. an at. . r. ikiwmno.
COR. FRONT Ji MAIN STREETS.
Clarksville, - - Tennessee.
Kollrll ronalvnmenta far Rampling;
ana Nriiing T.Darea,
Oetoher 1U. ItttM-U'
J. J. II AMLKTT
D. KINOANNON & CO.,
ARK NOW 1UXK1V1NU T11K1R KIOCK
Tlu, Wood And Willow Ware,
u.UI.il Lata luu.tt aalaw.tawl wltti mr vt tA llitt
w.iiti uf ll iMilUr. wliti'h lliry wlli Htftl
ClltlMIl Kit III Cllt!AHl. I UI1 tlll tt.
" i v. - a -v- v j v; . a v
Hep l, lftM4lm
It. 0. VKATMAX,
C0TT0X AND TOBACCO FACTORS,
ri CAUONIOI-KT r?T, 71
Jrtn. 10, Oe-lf.
ICE CREAM SALOON.
rlllOX A Kl.Y HAVE IX fTORF
i Inrgo mid varhl nKMirtmcnt ul
Coiu'ectlonrrles, Notions, etr.
Tin y hiivv attached a MJMKM lto their
CKtikhllthiiH'iil. hihI linvlng na ttr the 1mi
lUikci. In Hi. tt. Ihcy at. prepare! In
rnriili.il etisii,nier ll h everv deM'ilntloii of
rAKimid iiHKAii, t the bent quality, l'nr
tlimiil wediltiiiiM nupplliHl at luirt iiiiIIim.
Thev llilVi' filled up 11 liilne.ntl il, )llt
.t I, where the IMtfl rnmm will
Im' ,IIm iivh1 toiill w ho u nut it, fioiu urly
liioin till llio'elork ul iiliiht.
Our fnnle'tloiii'iU, I like. Ilraad and loe
(! nm are the uet all mii.I try tlu iu.
Mny , IsiiMf.
Mj Flag ia Nailod to the Mast t
AIICT1 IN li 15 1 1 ,
Ojjtrr with C If. Jmr, ou the Square
HKTl'ltNH hln thniika to llie nun Hi unity
tor llielr klioliiesM In the piwt. end l h
H ifully announce Hint he loii'inia in 101
tlnuo .Vuelloiieeriiig in Hie i ll; . AH pur
lieu uUlilug to ilioK' of l'iy tliunla,
liol uol'l and kitchen Ktirull ui, iH.oud
halol gool ot evei v ilwripllou.nl Hiwtlou,
uic IiiIoiiuihI ihnl lit ih tiviiid lo riMvlve
mid kioiv Ho in. nli'l .1 iilhiU" time, irth-r
(or Mile at the M.irket-liNaM'.
lie will alao uinke n unliir Auction Hale.
.1 Hi .tiiri.H-me. eveiy lilliAY and
MtiritHVY. iloiMw, Mul.. Winn
1 Himil.. IwrlmM, vnd ! uihcr aiilul.
i til. li may lie wanted .old .1 anetlaw.
W lit ioW niH'tlon wben d.olxr.1,
o'i ill llo t'll uli'l ,!.-
1-7 ;. : I m i ! - ' I' : .
A. i art aft. m. o. h. kobtoh,
STUART, NORTON A CO
(ftoeeeaaon to fiewltt. Norton t"o.J '
I ranaiaa MreM,'
ropalgnmenta of Tobareo, Flour. Drain,
rniTUHiin. lira uwar prauiw. OTiiiuiiru
'ReptlMWa.Iy '; - .( '
W. II. TrawLVT, Boa WoOLnjunoa,
flartuvllle, Tonn. ' 4 Trigg County X.J.
H-ri-.i1. ' '!('' ? ':.... i 1 l.li;
filIBAl rMlI8SI0X MBRCA1KT8,
n JOtphont Ftrt-Pwf jrcm-ftov.
, - . H a.l ltrv'? 1 IpAii., a
Hon. O. A. JIiEwnT. ITonAm II. Lfbton.
HENRY & LTJRT0N,
ATTORNEYS AT LAW,
We have thl. day formed a co-partner-
ahlp lor the Practice of Law In all lu
uranenca. uniouen oirawucrrjr Aiivy..
NOV. 0, TRl-eiii
roiiM m e shop,
Planter's Prize Screws, Shingle
Machines, Sugar Hills,
. Brass and Iron ,
IJROMPT ATTENTION OIVKN TO OR
1 der. for ranalr. on aiieaa. Knarlnaa.
Haw M Ilia, ami all kind, of Mavtiliiery.
nMMfl nf.r.Mui.f.ff' niuiuy auu
prouijHly done. . ... . ,
Mny S, MJS-lv. j
COMB TO STAY!
Saddles Bridles, Harness, etc.,
(AT J. M. KEDLKTT'a OLD HTAMP)
Franklin St., Uarksvlllf, Tcnnmsff.
have lorntcd jiermanently In nark-llle,
nml lnii iul to put up work that will
compare with uny. Ulva uie a call and ex
amine .lock and price.
' ai. I.. JOBI.1N.
April 10, lft-ly.
The Best Fitting: Drawers
in the World 1
Patent Pantaloon Drawers !
None gi'onln.wlthotil thU trade maxk.
1ENTLKMKN M'HO C'OXHl'I.T THFIR
1 own eomfnrt and convenience, will
find thee celebrated Drawer, conform to
the figure In their grocelul onllliii'., and
ccure In the wenror the greatest MMllilr
rmv. The ntv inanufuctnreal fmm the
tliiwt innlerinl., and In grcul variety, .ultu-
bl for all .'uinniiil ciimnu'..
rnaaALCtK ci abkhvm.i.e, JiT
POLLOCK Ac O O .
-war, vummm initio,
fm White m reel. New Yuik.
Nov. 13, lA-in. Patentee'. Man ila.
CITY DRUG STORE.
OX FRAN RUN HTRKFT.
A I.I. TIMFH.
and vnrliil awortnieut uf
All Medicines kept are War'
rooted Pure and Fresh I
t do nnt deem It nrcewnry tu particular
lie ai'tiofc, but the puhliu will Hud all they
nmy want, at auy time.
rA frwrirtua JrjMrfmaf
1. .till under Hi. .upcrvUhm uf Mr. I- R.
(HM)l'Klt, aim I. well known a. a en refill
and accurate, enmponnder of nicdlcliiea.
rrc-rltlun. tilled pruiuplly day or uUihL
Coal Tar and Coke!
ror Sale at tbt CAS WORKS,
CtiirkMrill,, IV i m.
CLARKSVILLE, TENN:, FRIDAY, DECEMBER 18, 1863.
FeUow-cittenu ff th 8enat, and tf
tne Jioute or jceprettntaurtut '
Upon thercawiembllrjifof tfltiirrva.
It again beconia my duty to call
your attention to the Htato of thtUn-
ion and Ita -disorganized condition
tinder the varlotM lawa which have
been pamed nnon the subject of re-
construtlon. It may be safely aaaumed
M an axiom In the Oovernment of
the Btatee that the greateat wrong In-
flic ted upon a neoDle Is canned bv un-
jimi arm arouniry legiHiauon, orny
unrelenting tiecreea orueapoiic rtiie!',
and that the rnd of Injurious and op -
preaslve measnrea la the greateat good ym after tho war It l.etdlmated they
that can be conferred on a nation. will be three hundred and seven ty
The legislator or tho ruler who has two millions an Increase of fotirhun
the wisdom and magnanimity to re idred and eightv-nine per centum,
trace his ateu M hen convinced of pr-' for the name period. Thtwe statistic
ror, -will, aooncr or later, be rewarded
wun tne respect ana grauiuite or an . uanuuai expense comparea wun me : uic paar year oi afi.H'iijiuj. The ilobt
Intelligent and patriotic people. I population were little more than one ion the Brut day of November lat Is
Our own history, although embrae! dollar per capita, and In 1880 but two stated to have lieen $2,527,12fl,6.'i2. It
Ing a period of less than a century, 1 dollars per capita, while in 1809 they Is estimated by the Secretary that the
affords abundant proof that most, if , will reach the extravagant sura of returns for the past month will add to
not all, our domestic troubles are dl- j nine dollars and seventy-eight cents our IlnbUities the further sum of $11,
rectly traceable to violations of the : lT capita, 000.000. tnaklmr a total Increase dur-
organlc laws and excessive legislation,
i ne most siriKing iiiuHiraiiousoi mis
fact are furnlslied by the enactments
or the last three years on the ques- expenaitures orwree war periods,
tlonof reconstruction. ' After a fair tho war with Groat Britain, the Mex
trial, they have substantially failed, lean war and the war of the rebellion,
and proved nernlcious In the results. In 1814 the annual expenditure inci-
and there seems to be no good reason.
why they should lontrer remain upon
the statute book. States to which
the Constitution guarantees renubll
can form of Government have .been
reduced to military dependencies, In
each of which the people have been
made subject to the arbitrary will of
me commanding ueneraj. '
Althouirh the Constitution reoulres
that each State shall be represented
in Congress, Virginia, Mlselasippl
and Texas are yet excluded from the
Houses; and contrary to the expressed
revisions of that instrument, were
enied participation in the recent
election for President and Vice Pres
ident of the United States. The at
tempt to place tho whole population
under the dominion of persons of col
or In the South, has impaired, if not
destroyed, the kindly relations that
uao previously exiHten between them,
and mutual distrust has rendered the
feeling of animosity which, leading,
in some Instances to collUou and
bloodshed, bus prevented that co-operation
between the two races so tia-
sentlal to the success of industrial en
terprise in the Southern States. "
ISor have the inhabitants of thexe
States alone sulfered from the dis
turbed condition of affairs, growing
out of Congressional enactments.
The entire Union has been agitated
by grave apprehensions of troubles,
which might involve the pence of the
nation., lis interests have been Inju
riously afl'oeted by the derangements
of buHiiiess and labor, and the conse
quent want of prosperity throughout
the country. The Federal Constitu
tion, the magna charter of American
rights, under whose wiseund salutarv
provisions we have Biicccssfully con
aTreterf art Titrr" dnmesllo ftriffTftriftiirri
affairs ourselves, in peace aud in war,
and become a great nation among the
powers of the earth, most assuredly
can now be adequate to the settle
ment, or the question growing out of
the civil war waged for Jts vindica
tion. ThU great fact is mode most
manifest by tho condition of the
When Congress assembled in the
month of December, 18(15, civil strife
had ceased: the spirit of rebellion had
sficnt its entire force in the Southern
t-'tates; thu people had warmed Into
inniiuiim me aim turougnout, uie
whole country a healthy reaction in
Bubllo sentiment had tnken place.
V the application of tli terrible vet
effective provisions of tho Constitu
tion, the liXecutivc Department with
the voluntary aid of the States had
brought the work of restoration as
near completion as was within the
scope of authority, and the nation
was encouraged by the prospect of an
early and faUnfactory ailjustment of
all its difficulties. Congress, how
ever, interfered, and refusing to per
fect tue worK so uenriy tlone, declined
to admit members from certain States,
adopted a course of measures which
arrested tho progress of restoration,
frustrated what hud been done, and
after three yearsif agitation unci strife
has lea me country rurtlier fmm the
attainment of union and fraternal
feeling than at the inception of Uie
Congressional plun of reconstruction.
It needs no argument to show that
legislation which has produced such
consequences should be abrogated, or
else made to conform to tho irenulne
principles of Republican Govern
ment, under tno influence of partv
pnsbion anil sectional prejudice, other
acts nave oecn paused not warrauleu
by the Constitution.
Congress has already lieen mode
familiar with my views respecting
I no tenure or otnee inn. I'.xiierlence
has proved that its repeal Is demand
ed by the best interest, of the country
anu tnai wnue it reinuius in force the
President can not enjoin the rigid ac
countability of public officers so es
sential to an honest and efficient ex
ecution of thclaws. it reenl would
enable the Executive Department to
exerclsothe power of apKlnttuents
ana removal in accordance with the
original design of the Federal Const I
tution. Tin1 act or Jlnrcii is7, tnak
Ing an appropriation for the Mipportofi
the army for tho year ending June
.toiKoT, ami lor oilier purposes con
taining a provision which Interferes
with the President's Constitutional
function osCommaiidcr-lu Chief of
tho army and navy.
It Is believed that the repeal of all
auch luws would be accepted by the
American people as at least a partial
return to the fundamental principles
of the Government, nnd an Indication
lhat hereafter the Constitution Is to
be made a safe and unerring guide,
while they can be productive of no
permanent beneflttotho country, and
should not be permitted to stand as so
many monuments of the deficient
wisdom which has characterized our
The condition of our finnnce. de
mands the earnest consideration of
Con if rcss. Compart d with the growth
of our Mipulation, the public expendi
tures have reached an nnpreiiilciited
amount. The Hipulatiou of the Uni
ted State In 17frl wu. nearly four
millions of Miple, Increasing each
decade "Unit 30 per cent., it reached
IHtm, thirty-one millions, an Increase
of 700 per cent, on tho population in
1790. lit 1800 it is estimated that It
will reach thirty-eight millions, r
an increase of H08 per cent. In 70
The annual expenditure of the
Fedetal Oovernment In I7iil weref I,--,.ir.i
i, I -ii win s.i mm p, vi,
$1.,000; In ISOO; 63,onri,000; In 18rW,
ty ...v. .. . ,j; D rvutr; ui mo jrew
v lliry, In hla last atintiul report, that
inatetl bv the Hccrctary of tlio Trea -
urj,in m, iai ttimiui report, that
there will be $372,000.(100.
It will be aecn that tho Incrcnse of oxpenal war with Mexico, we found
cxpt iuilturt; aiuce the bcplniiiiis of rKirnelvta involved In a debt of WV
the Uoverument, hits been eight 000,(iu(K and thin wao tliu amount
thouaandaix hundred and eighteen i owed by the OovMninent In 1800, Juat
ler centum, while thelncrcnuu of tboj'rlor to the outbreak of the rebellion,
ppulatlon for the game period was In the anrinir of 1801 oui civil war
only clfrbt hundred and nlxty-elxht
p"r CMUum. Again, the expenaes of
he Oovernment In lSffl). the year of.
ii; luimwimiciT prweoing me
. wr, ere onir aixiy-one minions,
1 while In 18fl0 the year of peace, three
further show that In 1791, the annual
j It will be oWrvcd that all of theso
iiMicnis are or peace periods, it
: my Uiereforcbeof Interest to compare
; dent to the war of 1812, reached their
highest amount, about thlrtv-one
minions, whiieour population "light
ly exceed eight millions, showing an
expenditure of only three dollars and
eighty centa per capita.
In 1849 the expenditures growing
out of the war with Mexico, reached
fifty-four millions, anil the popula
tion about, twenty-one millions, giv
ing only two dollars and sixty cents
pur capita for the war expenses of that
year, in jaoa ineexpcnuitures called
for by the rebellion reached the vast
amount of twelve hundred and nine
ty millions, which, compared with
the population of thirt v-four millions.
gives thirty-eight dollars and twenty
cento per capita. From the fourth
day of March, 178S lo the 80th of
J uiip. 1861, the entire expenditures of
uie uoverument were seventeen hun
dred millions of dollars.
During that period we were en
gaged In wars with great Britain and
Mexico, and were involved in hostili
ties with powerful Indian tribes.
Lnulsana was purchased from France
at a cost of $15,000,000. Florida was
ceded to the United States by Spain
nirTii.iiiiif.iJW(iiiii uie lerriuiryoi new
Mexico was obtained for the sum of
$10,000,000. Early In 1SC1 the war of
the rebellion commenced, aud from
the 1st of July, of that year, to the
SOt h of June, 1803, the pulilio expend
itures reached the enormous aggre
gate of $330,000,000.
'inree years .oi peace nave inter
vened, and during that time the dis
bursements of the Government has
successively been Ave hundred and
twenty millions, three hundred and
forty-six millions anil three hundred
ami seventy-three millions, adding to
thv-w amounts three hundred and
seventy-two millions esuinaieu as
necessary ror tno nscai year ending
the 30th of Jnne, 18(19, we obtain a to
tal expenditure of sixteen hundred
millions of dollars during the four
years succeeding the war, or nearly as
much as was expended during the
seventy-two years that proceeded the
the rebel lion, and embracing the ex
traordinary expenditures already
named. These facts clearly Illustrate
the necessity of retrenchment lu all
branches of the public service.
Abuses which were tolerated dur
ing the war for the preservation of the
nation will not be endured by the
people now that profound peaco pre
The receipt from Internal revenues
and customs during the past three
years gradually diminished, and the
continuance of useless and extrava
gant expenditures, will involve us lu
national bankruptcy, oreise mane
inevitable an increase of taxes already
too enormous, or In many respect
obnoxious on account of Uieir charac
ter. One hundred millions annually
are expended for the military force, a
largo portion of which Is employed
In the execution of laws both un
necessary and unconstitutional.
One hundred and fifty millions are
mnnireil oiieh venr to nn v the Interest
on the public debt. An army of tax
gatherers impoverishes the nation and
public, agents, placed iy congress oc
yond tho control of the Executive,
divert from their legitimate purmo
largo sums of money which they col
lect from the people in the lisiue of
tho government. Judicious legisla
tion and prudent economy cau alone
remedy the defects and avert the evils
which, if suffered to exist, can not
fail to diminish confidence la the
public councils and weaken tho con
fidence and respect of the peoplo to
ward their political Institutions.
Without proper care the small bal
ance which it Is estimated will re
main In tho Treasury at the close of
the present ftenl year, win noi na re
alized, and additional millions ill lie
added to a debt which is now euu
inerntcd by billions.
It Is shown by tho comprehensive
report of the Secretary of the Treas
ury that, the receipts for the fiscal year,
ending June 80, 1808, were $406,038,
088, and thut the expendlt tires for tho
same period were $377,840,t, leaving
In the Treasury a surplus of i8,27,
798. It Is estimated that the receipt
during the present fiscal year,-ending
June 30. lsOo. will lie f341.S!2.8oX and
the expenditures tt.'UI,152,470, showing
a small balance of $5:2,403 08, in favor
or the government.
For the fiscal vearrndlntr June SO,
1870, It Is estimated that the receipts
will amount to fTJ7,ouo,(Mm, and the
expenditure to .103,000,000, leaving
our estimated surplus a24,iKKl,uuo.
It becomes pros'r. In this connec
tion, to make a brief reference to our
public Indebtedness, which has accu
and assumed such colossal proportions
In 17t, when tho Government com
menced operations under the federal
Constitution, It was burdened with an
Ihdctitcducs or ?75,Wi,wsi, cn-ateo
during the war of the Involution.
This amount hud Is-en reduced to$4V
000,000 w hen ill 1N12 a war was de
clared ntralnst Great Britain.
The three years stnigifle that fol
lowed largely Increased tho National
obligation, and in 1H.VI they bad at
tained the sum of rl:27,ooo,oon. Wise
and eciiimmlcHl liMrlslatloii. however.
enabled the Government to ly the
entire amount within a period of
twenty years, and thee xtinKiilMhment
of tho National debt filled tho land
with rejoicing, and was one of the
ariwteat vnt. nf Prealilent Jackson's
lill'e -llipVunalliedl'l ill'. 1 V l-'lrv,
'which wa rlppoaltcd toraafi?keoplnr'bfKHMtonlncTwnLlncHr
in.i ii auimiu in rvkurum w ueu rr
, quired by th ntiblio wuuU. In 1849,
'that It ahould be rt'turueil beu rr
, Quiroii uy m puDiio tvauu. In 1849,
the year after tho termination of an
oomraeiMwJ. Each year of ita eon-
tlnuatieo made an eivirmouM atlditlou
to the debt, and when. In the- snrlinr
oi 1000, me nation auccensiuuy emerg.
ed from the conflict, the obligations
of the Uoverument had reached the
lmm.linjl mm. rt U7U QOV OJUj T!...
Secretary of the Treamiry aimw. that
on me nrataay or jNovember;. IWI7,
this amount had been reduced to- $2,
491,504,45.1, but at the same time his
report exhibited an Increase during
Ing three months of forty-six and a
In my message to Congress, of De
cember 4, 1805, it was suggested that
a policy tie devised, which, without
being oppressive to the people, would
at once begin to effect a reduction of
the debt, and if pursued, would dis
charge It fully within a definite period
of years. The Secretary of the Treas
ury forcibly recommends legislation
of this character, and. justly urges
that the longer it is deferred Uiomoro
difficult must become Its accomplish
ment. Wo should follow tho wise
precedent established in 1789 to 1816,
and without further delay, make pro
vision for the tmyment of our obliga
tions at as early a period as may be
practicable. The fruits of their labors
should he enjoyed by our citizens,
rather than nscd to build up and sus
tain moneyed monopolies in, our own
and other lands.
Our forelirn debt Is already comput
ed by the Secretary of the Treasury at
$830,000,000. Citizens of foreign coun
tries receive Interest upon a large por
tion or our securities, ana American
tax payers are mado to contribute
large sums for their support. Theldoa
mat sucn a debt is to become jierma
nent should be discarded as involving
taxation too heavy to be' borne, and
a payment once In every sixteen
years, at the present rate of Interest,
of an amount equal to tho original
sum. This vast debt. If permitted to
become permanent in increasing,
must eventually he gathered Into the
hands of a few, and enable them to
exert a dangerous and controlling
power In the affairs of tho Govern
The borrower would becomo ser
vants to the lenders, and the lenders
tne masters or the people. Ave now
pride ourselves upon having given
freedom to four millions of the color
ed race. Yet. It will be our shame
that forty millions of people, hy their
own tolerance of usurpation and prof
ligacy, havo sn tiered themselves to
change the slave owners for new task
masters lu the shape of bond-holders
and tax-gatherers. Besides, perm a
nent debt pertains to monarohinl gov
ernments. Monopolies, perpetuities
and class legislation are totally irrec
oncilable with free Institutions. In-
ttoduccd Into our republican system,
they would graduully, but surely, sap
its foundation, eventually subvert our
frovemmental fabric and erect upon
Is ruins a money aristocracy.
It Is our sacred duty to transmit un
impaired toour posterity the blesslnirs
of the liberty which wu bequeathed
to us by the founders of tho republic,
and by our example to teach those
who are to follow us carefully to avoid
the dangers which threaten a free and
Various plans have been proposed
for the payment of the public debt.
However, thev have varied as to the
time and mode In which it should be
redeemed, there seems to lw a general
consciousness as to the propriety and
Justness of a reduction In the present
rate of Interest. Tue Hecroiary or tne
Treasury, In his report, recommends
flvo per cent. Congress, In a bill
passed prior to its adjournment on the
27th of August, agreed upon four and
a hair per cent., wnue ny many three
per cent, has been held to bo an am
ply sufficient return for the invest
ment. The srencral Impression as to the
exorbitance of the existing rate of In
terest has led to an inquiry in the
public mind respecting the considera
tion which tho Government has ac
tually received for Its bonds and the
conclusion is becoming prevalent thut
tne amount which it ontamed was in
real money three or four hundred per
cent, lest than the obligation which
is paid In return. It can not lo de
nied that wears paying an extrava
gant per centage for the money lior
rowcii. which was paper currency
greatly depreciated below the value of
This fact la made apparent when
wo consider that bond-holders receive
from the Treasury upon each dollar
they owi upon government securities
six percent. Ill gold, which la quite or
nearly equal to nine Per cent, in cur
rency : that tho bonds are then con
vertcdluto capital for National Banks,
ii pop which these institutions issue
their circulation Iwaring six percent.
Interest; that they are exempt from
taxatlou by the Oovernment and
States, aud thereby enhanced two per
cent, in the hands of the holders.
We thus havo an aggregate of sev.
enteen percent, which mny be re
ceived Usin each dollur by theowner
or government securities. An asylum
that produce such results ia Justly re
tarded as fitvoriiur a few at tho ex-
pen of the many, and has led to the
rurtlier inquiry whether our tumu
li older., In view of tho large profits
which they have enjoyed, would
themselves bo averse to a settlement
of our indebtedness on a plan which
would yield them a fair remuneration
and at the same time be just to the
tux-navers or the nation. iur lis
tiolutl credit should bo sacredly "b-
aerved. but ill inukliiif provisions for
our creditors w should not forget
what is due thu masses of tho peoplo.
It may he aaaiiuiod that tho holders
of ourseouritlos have already received
unm their bonds a larger amount
than their original investment.
MoaaiireU by a uM standard uimn
this statemant of fuels, it would bo
Just and quIUble thut tho six per
... 1... . ....... ....1.1 I... .1... ...
cut- lnljrit now luiid bv tho ( i.iv
eruineut should bo applied to th re
duction of the priiiciiml. in semi-an
nual instalment., wiiliiu, III alxleeu
year, and fluht mouths, would liqul-
Idato tliaetiMra national do St.
'eer t't w-l. I l' J '
WHOLE K0. 481.
, aniottiit In m rrnctiotrlc. than mun
! vem. TIiIk. In conneotlr. im. .ii
, 1 - . .. v..i.i.v iiv.:,- Willi 1 1
the other advantage derived from
uieir investment, would afford the
puoiic creditor, a mir aniruboriu com
pensation for the use of their rnnitnl
and with this they should boaatlsflod.
The lessons of the past admonish
the lender that It is not well to be
over anxious In exactlm? from tlm
1 . a. . .
oorrower ngur compliance with the
bond, if provision lie mado for the
payment of the Indebtetliiess of the
Movcrnmeut in the manner suggest
ed, our country will' rapidly recover
its wonted prosperity. ' Km rwtorests
require that some meniiuresshiMihl ii
taken to release the lartre amount r
capital invested in securities of Gov.
eminent. It is not now merefv oiv
productive, but In taxation, annunllc
consumes $160,000,(KK)- which woul'd
otherwise boused bv ourentpnirlsiiiir
people Irr adding to the wealth of the
w... v.'.uivi v-c. niiivurmun, umv,
successfully rivaled that of the a-reat
lunruuuia powers, nas rapidly tiiinlu-
'i. nuu uui iiiiiusirmi inreresia are
in a depressed and languishing condi
tion. The development of our inex
haustible resources is checked and the
fertile neids of the South are beoom
Ing waste for want of means to till
them. With th release of capital
now life would be Infused Into the
naralvzprl fIIArirloa nf roil. iuiii.ln mnA
activity and vigor imparted to every
branch of Industry. Ouriienple should
receive encouragement in their efforts
to recover from the effect of the re
bellion, and of injudicious legislation,
and it should be the aim of the Gov
ernment to stimulate them by the
prospect of an early release from the
bunions which impede their prosper
ity. If we cau not take the burden
from their shoulders, wo should at
least manifest a willingness to hel
to bear them. '
In referring to the condition of the
circulstlnit medium I shall merely re
iterate substantially 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 on which political econo
mists have not agreed ; nor can It be
controlled by legislation, but must be
left to the Irrevocable lawa which ev
erywhere regulate commerce aud
trade. The circulating medium will
ever Irresistibly flow to those point
where it is In greatest demand. The
law of demand and supply is as uner
ring as that which regulates thetides
of tho ocean, and, Indeed, currency,
like the tides, has its ebbs and flows
throughout the commercial world.
At the beffinninar of tbn rolmlllnn
the bank note circulation of the coun
try amounted to not much more than
$00,000,000. Now, tho circulation of
tne rational Hunk note and those
known as legal tenders Is nearly $700,
000,000. While it Is urged by some
that this amount should be Increased,
others contend that a decided reduc
tion is absolutely essential to the best
Intoen th.iwnntnr In v'aw of
these diverse opinions, It may be well
to ascertain tho real value of our
paper issues, when compared with a
mctulic or convertible currency. For
this purpose let us inquire how much
gold and silver could lie purchased by
the if 700.000,000 of paper money uow
Trobably not more than half the
amount of the latter, showing that
when our paper curreneyAs com pared
with gold and silver, its commercial
value is compressed Into three hun
dred and fifty millions. This striking
fact makes it the duty or tho Govern
ment, as early as way be consistent
with the principles of sound imlltlcal
economy, to tuko such measure as
will euublo tho holder of its notes,
and those of tho National Bunks, to
eouvert them without loss In to specie
or Its equivalent. A reduction of our
paier circulating medium may not
necessarily follow. This, however,
would depend upon tho law of de
mand and supply, though it should
be borne in mind that by making le
gal tender and bank notes convertible
Into coin or Its equivalent, their pres
ent siecle vulue in the hands of iliolr
holders would lie enhnnoed one hun
dred per cent. Ijcgislatlon for the ac
complishment of a result so dostrublo
la demanded by the highest public
considerations. The Constitution
contemplates that tho circulating
medium of tho country shall lw uni
form in quality and value. At the
time of tho formation of that Instru
ment tho country hud just cmorirud
from the war of tho Revolution, and
was suffering from the effect of a re
dundant and worthless paper curren
cy. The people of that period were
anxious Ui protect their posterity from
the evil in which they themselves
had experienced. Hence, In providing
a circulating medium they conferred
upon Congress the power to coin
money and regulate the value thereof,
at the same tiino prohibiting the
States from makiiiu anything but
gold and silver a tender In payment
The anomalous condition of our
currency 1. in striking contrast with
thut which was originally designed.
Our circulation now embrace:
First. The notes of tho National
Bunks, which aro made receivable
for all dues to tho Government, ex
cepting imports, aud by all Its condi
tion. exucptinK in payment of inter
est upon its bonds aud the securities
Second, Ths legal tender notes Is
sued hy the United States, and which
tho law requires shall be received as
well in payment of all debt between
cltir.eiia, a of all ports due. exception:
luiKrts and gold and .liver coin, jiy
the operation of our present system
ot finances, however, (he metal It cur
rency, wben collected, . reserved
only for one class of Government
creditors, who, holding it bonds,
seroi-auuually receive their Interest
In cash from the National Treasury.
There is no reason which will lie ac
cepted as satisfactory by the people,
why tlioso who ilclend. ns on the
land aud protects us on the sea, thu
tcnsoner upon the gratltuc of the
nation, U'liriug the scars and wounds
received while In its service, the pub
lic servants In tho various depart
ments of the Government, the for
mer who supplies the soldier of th
army and th sailors of the navy, the
artisan who toils In tho natlou's
workshop, or the mechanics u labor-
era who DUIhl Its edinee and coll
in omul lis umninta riiii umi-
Its irU and vemcls of war. I
sliimlil. Iii iiBvnienlnf thMr In.t aui
bard oumed due, naclve depreciated
paper, while another da of their
countrymen. ) more dcMrvtug, are
rvald tu coin.
' I tod l-ZlH. V
that tilth creditor of the Oovrr.'
mr ttt should be paid' In' a currency
possessing an uniform raluo. This
can only be aecom)lishel by the res
torathri of Uie currency to the stand
ard established by tho Copstvitloii,
and by this means wo would rrmovi
a discrimination which mny, !lit ha
not already done an, ereatn a preju
dice that may beeuuio lec-rootcd
and widespread, and imperil thu Na
The fewdblllly of making out rur
reney oorretmt! with the ConatHu
tlonul standard may Ik" art rrby a re
ference to a few facts dil l front
our commercial statitic.. The se
gregate product of preelous rhrtst iti
tho Tnlhtl States from 1S49 to 1807
amounted to SI. 174,000,000, while frr
thu- same perhid tho ntt export of
specto Were 741,000,000. This shoWa
an excess of product orei net cximrts
of $4M,fJO0,odo; There Is In tllu Tn as--ury'
In coin,, hi circnlatlon In thri'
States on the raclllccoast(.nnd In tho'
National and rthurbnnkai. le Uiam
Titklnir Info" cYinM'dcrtofRm tlic
do In the country prion 1f lfniid'
since 1807, we have more Uiau $300,
(WjOOO not- accounted for' by esiHirta-.
tion or i iy me returns proimniy ro
malnlnir In tho cotinrrv.. These arer
important facts and ehow how oonv
nletelv the Inferior enrrariev will an-
petwiM the better, f ireinir It frons
circnlatlon' among the masses and
causing it to bo exported: as merely
an article of trade, to add to the moil
ey capital of foreign lands. Thev
show the necessity retiring our paper,
money, that the return of rold amf
silver to a-vennes of trade mny Vm In-1'
vitea ana a demand created widen l
will causo tho retention at hmne of
at least so much of the croductlons
of our. rich and Inexhaustible gold
bearing field as may be sufficient for
the purpose of circulation; :.
It is impossible to effect a; return -to
a sound currency so Jong as tho.'
Government and batiks, by cnntlnu
Inirto rssno Irredeemable notes, fill -
the channels of cirmilatiorr with do-
preoiated paper. Natwlthstnndlnu a
coinage by our mints siqco 1840, of
$874,000,000, the people aro now stran- '
gers to tho currency which was do-"
signed for their use and boneflt, and
specimens of tho precious ntctaW
bearing the National device aro sel
dom seen except when produced tf
gratify the? interest excited by their
novelty, jr depreciated paper Is to
Ikj continued as the permanent cur
rency of the country, and all our crln
is to become a mere artlcio of traffic
and speculation, to tho enhancement .'
of the price of all that is Indispensa
ble to the comfort of the people, it
will lio a wise economy to abolish our
mints, thus saving the Nnt Ion tho
care and expense Incident to such cs
tablishincnts, and to let our prcclmis,
roetais ue rxoruo in minion,
'flic time lias come when the Gov-'
ernmcnt ami National Banks should
lie required to take ths most. nicU-ut
steps and make ail nocessary arrange-'
menu ror tue resumption or specif
payments. Let specie payments raj
once earnestly inaugurated bv tho
unvcrnmeni ami luinks, anil tho
value of tho paper circulation would
directly approximate to the proin-r
standard. Specie payments having
been resumed by tho Government
and Bonks, nil notes or bills of paper
issued by fit tier, or a iiws denomina
tion than $20, should, by law. I ex
cluded from circulation. So that the
peoplo may have the benefit and con-'
venience of a gold and silver cur- .t .
rcucy, which lu all their buslnei)'
transactions, will bo uniform Inli
ne at home aud abroad. Evesy man 1
who desires to pitsstTveTwhui lie Kiui",
cstly possosnxs or tooh'j&lu what ho
can honestly earn, has a direct Inter
est In malntalng n safe circular! tur.o'
medium such a medinm as.rhuli hn
real and substantial, ijoVt'iVhle to vl--brato
with opinhilMl'hot subjiet to ho
blown in,i.it" blown down by the
breeze of speculation : but to bo made
secure. A disordered currency is one
of the greatest political evils. It un
der minus tho virtues necessary for
the support of the social system ami
encourages propensities destructive of
its Happiness, it wars against indus
try, frugality and economy, and ros
ters the evil spirit of extravagance
and speculation. '
It ha been asserted by one of our
profound andirlftcdstatesmou that of'
all contrivances for. cheating man
kind, none has been so ull'ectuul as
that which deludes them with paper
money. This U tho most effectual
of inventions to fertilizo tho rich
man's fluid by tho sweat of tho Kor.
man's brow. Ordinary tyranny, op
pression, oxocasIvo taxation tneso'
bearlltfhtly on the happiness of tho
community, compared with a fraud
ulent currency and tho robbery com
mitted by depreciated paper. Our
own history ha recorded for onr in-'
struct ion enough, and more than
enough of Its demoralising tctnlciicy.
This injustice and intolerable oppres
sion on tho virtuous and well disinct .
of a degraded paper currency, author
ised uy taw or in any way oounM.
nanced by the Government Is one of
the most successful devious iu times .
of pooco or war, of expansion or rev-'
olutlons, to accomplish the transfer
of all tho precious metals from tho
Krtmt Uioss of tho people Into tho
hands of tho few, where they aro
hoarded In secret plan's or deiswdti'd
under holts und bars, while the peoplo '
are left to onduro all tho ineonvenl- ,
eiiccs, sacrifices and demoralization
resulting from the lino of a depre
ciated and worthless paper.
Washi.nuto.v, Due. 0, 1808. .
Tenuemee Orpbaa A ay I am at C'larhs.
We call the attention of our rmwlers
to the following mxtruct from a letter
from tho Secretary- of thl InUtu.;
Clirlslmns will soon liehcrc. Will
you not try to aond a little box con
taining for thu children some Hills
token of reiiiomliraiieeT We Intend
having a (.'brUma tree, w it li all tho
presents and names of donor on it,
for each child.
"We aro gratified to find thatao
lllsrul a charity in behalf uf th or
Phans of our dead soldiers la being
IsMtowod thmtiKh the hauiU of suen
kind and oniisiiloratcluilirs, and arn-'
estly urge our friends and thu frklid.
ofthesuduad lieriH'. to send sonic littio ,
tokens of "Is Ing reineinUrcU at
home," for their lonely orpliittui, who
have no one to baik to for the ehlld-i
isli ehuor which gladdens our own
liiiidicii'a liearU at Christ maa, but
Ihu pooplu for whom their fathers
died on tho field of buttle."
'lids apical is liiteixp d not only
for llis omm-r. and agents of th Av
ws,lalloii In tin. county, but forevrry
onii who feel an Interest In and a
wtllingnesatoerintriUite sumo thing
ti help forward I his praiseworthy eo-.
tcrprliie, and ws trust will meet wltl
ivinwr, .wi v . . ..-v . .... v.
a cheerful rrfiou.se. tuat'iKe 3aa.
Mr. DorUvj tho New York put.
Usher, ha a fruit rui at Aik.U, r .
IV., "TOIW "rou rrv w m ' .',1'. -
xml | txt