other money in exchange for their products.
The necessities created by the Civil War compelled the United States
to borrow large sums, and to aid in this a national currency was
provided, concerning which a statement of the measures adopted will
be made hereafter. It is sufficient here to state that the national
currency adopted proved one of the most beneficial results of the
war.

The financial stringency of 1857 led to a careful scrutiny of
appropriations for the support of the government.

On the 27th of May, 1858, I expressed my views in respect to the
expenditures of the United States. This speech was the first effort
I made in Congress to deal with the finances of the national
government. In the previous Congresses I had devoted my time to
the struggle in Kansas. At the meeting of the 35th Congress, I
naturally turned to the condition of the finances, then the paramount
subject of interest in the country, and, especially in Ohio, devoting
most of my time to a careful study thereof. The speech referred
to on national finances was the result of much labor, and I believe
it will bear favorable scrutiny even at this late day. It certainly
attracted the attention of my colleagues, and no doubt led to my
transfer, at the next Congress, to the committee of ways and means.

In this speech I state fully the increase of expenditures and the
diminution of the revenues, and the then condition of the treasury.
I quote as follows:

"And yet, sir, for this alarming condition of the public finances,
the administration has no measures of relief except loan bills and
paper money in the form of treasury notes. No provision is made
for their payment; no measure of retrenchment and reform; but these
accumulated difficulties are thrust upon the future, with the
improvidence of a young spendthrift. While the secretary is waiting
to foresee contingencies, we are prevented by a party majority from
instituting reform. If we indicate even the commencement of
retrenchment, or point out abuses, on this side of the House, we
are at once assailed by members of the committee of ways and means."

I cited the abuses and usurpations of the executive departments in
diverting specific appropriations to purposes not authorized by
law. I said: "The theory of our government is, that a specific
sum shall be appropriated by a _law_ originating in this House,
for a specific purpose, and within a given fiscal year. It is the
duty of the