The arrangements of the finances with a view to the receipts and
expenditures of a permanent peace establishment will necessarily enter
into the deliberations of Congress during the present session. It is
true that the improved condition of the public revenue will not only
afford the means of maintaining the faith of the Government with its
creditors inviolate, and of prosecuting successfully the measures of
the most liberal policy, but will also justify an immediate alleviation
of the burdens imposed by the necessities of the war. It is, however,
essential to every modification of the finances that the benefits of
an uniform national currency should be restored to the community. The
absence of the precious metals will, it is believed, be a temporary
evil, but until they can again be rendered the general medium of
exchange it devolves on the wisdom of Congress to provide a substitute
which shall equally engage the confidence and accommodate the wants of
the citizens throughout the Union. If the operation of the State banks
can not produce this result, the probable operation of a national bank
will merit consideration; and if neither of these expedients be deemed
effectual it may become necessary to ascertain the terms upon which the
notes of the Government (no longer required as an instrument of credit)
shall be issued upon motives of general policy as a common medium of
circulation.
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