your serious consideration whether
some extraordinary measures to promote that end cannot be adopted. The
means which suggests itself as most likely to be effective is a scientific
exploration of the mineral regions in those Territories with a view to the
publication of its results at home and in foreign countries--results which
cannot fail to be auspicious.

The condition of the finances win claim your most diligent consideration.
The vast expenditures incident to the military and naval operations
required for the suppression of the rebellion have hitherto been met with
a promptitude and certainty unusual in similar circumstances, and the
public credit has been fully maintained. The continuance of the war,
however, and the increased disbursements made necessary by the augmented
forces now in the field demand your best reflections as to the best modes
of providing the necessary revenue without injury to business and with the
least possible burdens upon labor.

The suspension of specie payments by the banks soon after the commencement
of your last session made large issues of United States notes unavoidable.
In no other way could the payment of troops and the satisfaction of other
just demands be so economically or so well provided for. The judicious
legislation of Congress, securing the receivability of these notes for
loans and internal duties and making them a legal tender for other debts,
has made them an universal currency, and has satisfied, partially at
least, and for the time, the long-felt want of an uniform circulating
medium, saving thereby to the people immense sums in discounts and
exchanges.

A return to specie payments, however, at the earliest period compatible
with due regard to all interests concerned should ever be kept in view.
Fluctuations in the value of currency are always injurious, and to reduce
these fluctuations to the lowest possible point will always be a
leading purpose in wise legislation. Convertibility, prompt and certain
convertibility, into coin is generally acknowledged to be the best and
surest safeguard against them; and it is extremely doubtful whether a
circulation of United States notes payable in coin and sufficiently large
for the wants of the people can be permanently, usefully, and safely
maintained.

Is there, then, any other mode in which the necessary provision for the
public wants can be made and the great advantages of a safe and uniform
currency secured?

I know of