dollar collected, and the greatest practicable
retrenchment in expenditure in every department of Government.

When we compare the paying capacity of the country now, with the ten
States in poverty from the effects of war, but soon to emerge, I trust,
into greater prosperity than ever before, with its paying capacity
twenty-five years ago, and calculate what it probably will be
twenty-five years hence, who can doubt the feasibility of paying every
dollar then with more ease than we now pay for useless luxuries? Why,
it looks as though Providence had bestowed upon us a strong box in the
precious metals locked up in the sterile mountains of the far West, and
which we are now forging the key to unlock, to meet the very contingency
that is now upon us.

Ultimately it may be necessary to insure the facilities to reach these
riches, and it may be necessary also that the General Government should
give its aid to secure this access; but that should only be when a
dollar of obligation to pay secures precisely the same sort of dollar
to use now, and hot before. Whilst the question of specie payments is
in abeyance the prudent business man is careful about contracting debts
payable in the distant future. The nation should follow the same rule.
A prostrate commerce is to be rebuilt and all industries encouraged.

The young men of the country--those who from their age must be its
rulers twenty-five years hence--have a peculiar interest in maintaining
the national honor. A moment's reflection as to what will be our
commanding influence among the nations of the earth in their day, if
they are only true to themselves, should inspire them with national
pride. All divisions--geographical, political, and religious--can join
in this common sentiment. How the public debt is to be paid or specie
payments resumed is not so important as that a plan should be adopted
and acquiesced in. A united determination to do is worth more than
divided counsels upon the method of doing. Legislation upon this subject
may not be necessary now, nor even advisable, but it will be when the
civil law is more fully restored in all parts of the country and trade
resumes its wonted channels.

It will be my endeavor to execute all laws in good faith, to collect
all revenues assessed, and to have them properly accounted for and
economically disbursed. I will to the best of my ability appoint to
office those only who will carry out this design.

In regard to for