A Compilation of the Messages and Papers of the Presidents eBook

This eBook from the Gutenberg Project consists of approximately 687 pages of information about A Compilation of the Messages and Papers of the Presidents.

A Compilation of the Messages and Papers of the Presidents eBook

This eBook from the Gutenberg Project consists of approximately 687 pages of information about A Compilation of the Messages and Papers of the Presidents.

If error has been committed by the Army in these matters, it has always been on the side of the preservation of good order, the maintenance of law, and the protection of life.  Their bearing reflects credit upon the soldiers, and if wrong has resulted the blame is with the turbulent element surrounding them.

I now earnestly ask that such action be taken by Congress as to leave my duties perfectly clear in dealing with the affairs of Louisiana, giving assurance at the same time that whatever may be done by that body in the premises will be executed according to the spirit and letter of the law, without fear or favor.

I herewith transmit copies of documents containing more specific information as to the subject-matter of the resolution.

U.S.  GRANT.

[Footnote 90:  See pp. 276-277.]

[Footnote 91:  See pp. 275-277.]

EXECUTIVE MANSION, January 14, 1875.

To the Senate of the United States

Senate bill No. 1044, “to provide for the resumption of specie payments,” is before me, and this day receives my signature of approval.

I venture upon this unusual method of conveying the notice of approval to the “House in which the measure originated” because of its great importance to the country at large and in order to suggest further legislation which seems to me essential to make this law effective.

It is a subject of congratulation that a measure has become law which fixes a date when specie resumption shall commence and implies an obligation on the part of Congress, if in its power, to give such legislation as may prove necessary to redeem this promise.

To this end I respectfully call your attention to a few suggestions: 

First.  The necessity of an increased revenue to carry out the obligation of adding to the sinking fund annually 1 per cent of the public debt, amounting now to about $34,000,000 per annum, and to carry out the promises of this measure to redeem, under certain contingencies, eighty millions of the present legal-tenders, and, without contingency, the fractional currency now in circulation.

How to increase the surplus revenue is for Congress to devise, but I will venture to suggest that the duty on tea and coffee might be restored without permanently enhancing the cost to the consumers, and that the 10 per cent horizontal reduction of the tariff on articles specified in the law of June 6, 1872, be repealed.  The supply of tea and coffee already on hand in the United States would in all probability be advanced in price by adopting this measure.  But it is known that the adoption of free entry to those articles of necessity did not cheapen them, but merely added to the profits of the countries producing them, or of the middlemen in those countries, who have the exclusive trade in them.

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