Part 57

It seems very plain that continued issues of United States notes without any check to the issues of suspended banks and without adequate provision for the raising of money by loans and for funding the issues so as to keep them within due limits must soon produce disastrous consequences; and this matter appears to me so important that I feel bound to avail myself of this occasion to ask the special attention of Congress to it.

That Congress has power to regulate the currency of the country can hardly admit of doubt, and that a judicious measure to prevent the deterioration of this currency, by a seasonable taxation of bank circulation or otherwise, is needed seems equally clear. Independently of this general consideration, it would be unjust to the people at large to exempt banks enjoying the special privilege of circulation from their just proportion of the public burdens.

In order to raise money by way of loans most easily and cheaply, it is clearly necessary to give every possible support to the public credit. To that end a uniform currency, in which taxes, subscriptions to loans, and all other ordinary public dues, as well as all private dues, may be paid, is almost, if not quite, indispensable. Such a currency can be furnished by banking associations, organized under a general act of Congress, as suggested in my message at the beginning of the present session. The securing of this circulation by the pledge of United States bonds, as therein suggested, would still further facilitate loans by increasing the present and causing a future demand for such bonds.

In view of the actual financial embarrassments of the Government and of the greater embarrassments sure to come if the necessary means of relief be not afforded, I feel that I should not perform my duty by a simple announcement of my approval of the joint resolution, which proposes relief only by increasing circulation, without expressing my earnest desire that measures such in substance as those I have just referred to may receive the early sanction of Congress.

By such measures, in my opinion, will payment be most certainly secured, not only to the Army and Navy, but to all honest creditors of the Government, and satisfactory provision made for future demands on the Treasury.

ABRAHAM LINCOLN.

WASHINGTON, January 20, 1863.

To the Senate of the United States:

I transmit herewith a report from the Secretary of State, in answer to the resolution of the Senate relative to the correspondence between this Government and the Mexican minister in relation to the exportation of articles contraband of war for the use of the French army in Mexico.

ABRAHAM LINCOLN.

EXECUTIVE MANSION,

Washington, January 21, 1863.

Gentlemen of the Senate and House of Representatives:

I submit herewith, for your consideration, the joint resolutions of the corporate authorities of the city of Washington adopted September 27, 1862, and a memorial of the same under date of October 28, 1862, both relating to and urging the construction of certain railroads concentrating upon the city of Washington.

In presenting this memorial and the joint resolutions to you I am not prepared to say more than that the subject is one of great practical importance and that I hope it will receive the attention of Congress.

ABRAHAM LINCOLN.

WASHINGTON, January 23, 1863.

To the Senate and House of Representatives:

I transmit, for the consideration of Congress, a report from the Secretary of State, transmitting the regulations, decrees, and orders for the government of the United States consular courts in Turkey.

ABRAHAM LINCOLN.

WASHINGTON, January 26, 1863.

To the Senate of the United States:

In compliance with the resolution of the Senate of the 13th instant, requesting a copy of certain correspondence respecting the capture of British vessels sailing from one British port to another having on board contraband of war intended for the use of the insurgents, I have the honor to transmit a report from the Secretary of State and the documents by which it was accompanied.

ABRAHAM LINCOLN.

WASHINGTON CITY, January 28, 1863.

To the Senate and House of Representatives:

In conformity to the law of July 16, 1862, I most cordially recommend that Commander David D. Porter, United States Navy, acting rear-admiral, commanding the Mississippi Squadron, receive a vote of thanks of Congress for the bravery and skill displayed in the attack on the post of Arkansas, which surrendered to the combined military and naval forces on the 10th instant.

ABRAHAM LINCOLN.