The balance of trade is not
to be turned in our favor by creating new demands upon us abroad. Our
currency can not be improved by the creation of new banks or more issues
from those which now exist. Although these devices sometimes appear to
give temporary relief, they almost invariably aggravate the evil in the
end. It is only by retrenchment and reform--by curtailing public and
private expenditures, by paying our debts, and by reforming our banking
system--that we are to expect effectual relief, security for the future,
and an enduring prosperity. In shaping the institutions and policy of
the General Government so as to promote as far as it can with its
limited powers these important ends, you may rely on my most cordial
cooperation.
That there should have been in the progress of recent events doubts in
many quarters and in some a heated opposition to every change can not
surprise us. Doubts are properly attendant on all reform, and it is
peculiarly in the nature of such abuses as we are now encountering to
seek to perpetuate their power by means of the influence they have been
permitted to acquire.
Pages:
669
670
671
672
673
674
675
676
677
678
679
680
681
682
683
684
685
686
687
688
689
690
691
692
693