The Papers And Writings Of Abraham Lincoln
Chapter 138 : A. LINCOLN.VETO OF A CURRENCY BILL MESSAGE TO THE SENATE, JUNE 23, 1862.TO THE SENATE

A. LINCOLN.

VETO OF A CURRENCY BILL

MESSAGE TO THE SENATE, JUNE 23, 1862.

TO THE SENATE OF THE UNITED STATES:

The bill which has pa.s.sed the House of Representatives and the Senate, ent.i.tled "An act to repeal that part of an act of Congress which prohibits the circulation of bank-notes of a less denomination than five dollars in the District of Columbia," has received my attentive consideration, and I now return it to the Senate, in which it originated, with the following objections:

1. The bill proposes to repeal the existing legislation prohibiting the circulation of bank-notes of a less denomination than five dollars within the District of Columbia, without permitting the issuing of such bills by banks not now legally authorized to issue them. In my judgment, it will be found impracticable, in the present condition of the currency, to make such a discrimination. The banks have generally suspended specie payments, and a legal sanction given to the circulation of the irredeemable notes of one cla.s.s of them will almost certainly be so extended, in practical operation, as to include those of all cla.s.ses, whether authorized or unauthorized. If this view be correct, the currency of the District, should this act become a law, will certainly and greatly deteriorate, to the serious injury of honest trade and honest labor.

2. This bill seems to contemplate no end which cannot be otherwise more certainly and beneficially attained. During the existing war it is peculiarly the duty of the National Government to secure to the people a sound circulating medium. This duty has been, under existing circ.u.mstances, satisfactorily performed, in part at least, by authorizing the issue of United States notes, receivable for all government dues except customs, and made a legal tender for all debts, public and private, except interest on public debt. The object of the bill submitted to me--namely, that of providing a small note currency during the present suspension--can be fully accomplished by authorizing the issue, as part of any new emission of United States notes made necessary by the circ.u.mstances of the country, of notes of a similar character, but of less denomination than five dollars. Such an issue would answer all the beneficial purposes of the bill, would save a considerable amount to the treasury in interest, would greatly facilitate payments to soldiers and other creditors of small sums, and would furnish; to the people a currency as safe as their own government.

Entertaining these objections to the bill, I feel myself constrained to withhold from it my approval and return it for the further consideration and action of Congress.

A. LINCOLN

SPEECH AT JERSEY CITY, JUNE 24, 1862.

When birds and animals are looked at through a fog, they are seen to disadvantage, and so it might be with you if I were to attempt to tell you why I went to see General Scott. I can only say that my visit to West Point did not have the importance which has been attached to it; but it concerned matters that you understand quite as well as if I were to tell you all about them. Now, I can only remark that it had nothing whatever to do with making or unmaking any general in the country. The Secretary of War, you know, holds a pretty tight rein on the press, so that they shall not tell more than they ought to; and I 'm afraid that if I blab too much, he might draw a tight rein on me.

TO GENERAL G. B. McCLELLAN.

WAs.h.i.+NGTON, June 26, 1862.

MAJOR-GENERAL McCLELLAN:

Your three despatches of yesterday in relation to the affair, ending with the statement that you completely succeeded in making your point, are very gratifying.

The later one of 6.15 P.M., suggesting the probability of your being overwhelmed by two hundred thousand, and talking of where the responsibility will belong, pains me very much. I give you all I can, and act on the presumption that you will do the best you can with what you have, while you continue, ungenerously I think, to a.s.sume that I could give you more if I would. I have omitted, and shall omit, no opportunity to send you reinforcements whenever I possibly can.

A. LINCOLN.

P. S. General Pope thinks if you fall back it would be much better towards York River than towards the James. As Pope now has charge of the capital, please confer with him through the telegraph.

ORDER CONSt.i.tUTING THE ARMY OF VIRGINIA.

EXECUTIVE MANSION, WAs.h.i.+NGTON, D. C., June 26, 1862.

Ordered: 1st. The forces under Major-Generals Fremont, Banks, and McDowell, including the troops now under Brigadier-General Sturgis at Was.h.i.+ngton, shall be consolidated and form one army, to be called the Army of Virginia.

2d. The command of the Army of Virginia is specially a.s.signed to Major-General John Pope, as commanding general. The troops of the Mountain Department, heretofore under command of General Fremont, shall const.i.tute the First Army Corps, under the command of General Fremont; the troops of the Shenandoah Department, now under General Banks, shall const.i.tute the Second Army Corps, and be commanded by him; the troops under the command of General McDowell, except those within the fortifications and city of Was.h.i.+ngton, shall form the Third Army Corps, and be under his command.

3d. The Army of Virginia shall operate in such manner as, while protecting western Virginia and the national capital from danger or insult, it shall in the speediest manner attack and overcome the rebel forces under Jackson and Ewell, threaten the enemy in the direction of Charlottesville, and render the most effective aid to relieve General McClellan and capture Richmond.

4th. When the Army of the Potomac and the Army of Virginia shall be in position to communicate and directly co-operate at or before Richmond, the chief command, while so operating together, shall be governed, as in like cases, by the Rules and Articles of War.

A. LINCOLN.

TELEGRAM FROM SECRETARY STANTON TO GENERAL H. W. HALLECK.

WAR DEPARTMENT, June 28, 1862.

MAJOR-GENERAL HALLECK:

The enemy have concentrated in such force at Richmond as to render it absolutely necessary, in the opinion of the President, for you immediately to detach 25,000 of your force and forward it by the nearest and quickest route by way of Baltimore and Was.h.i.+ngton to Richmond. It is believed that the quickest route would be by way of Columbus, Ky., and up the Ohio River. But in detaching your force the President directs that it be done in such a way as to enable you to hold your ground and not interfere with the movement against Chattanooga and East Tennessee. This condition being observed, the forces to be detached and the routes they are to be sent are left to your own judgment.

The direction to send these forces immediately is rendered imperative by a serious reverse suffered by General McClellan before Richmond yesterday, the full extent of which is not yet known.

You will acknowledge the receipt of this despatch, stating the day and hour it is received, and inform me what your action will be, so that we may take measures to aid in river and railroad transportation.

EDWIN M. STANTON, Secretary of War.

TELEGRAMS TO GENERAL A. E. BURNSIDE.

WAs.h.i.+NGTON, June 28, 1862.

GENERAL BURNSIDE:

I think you had better go, with any reinforcements you can spare, to General McClellan.

A. LINCOLN.