Ulysses S. Grant

The vast resources of the nation, both developed and undeveloped, ought to make our credit the best on earth.

To secure the latter I see but one way, and that is to authorize the Treasury to redeem its own paper, at a fixed price, whenever presented, and to withhold from circulation all currency so redeemed until sold again for gold.

I earnestly recommend to you, then, such legislation as will insure a gradual return to specie payments and put an immediate stop to fluctuations in the value of currency.

It makes the man of business an involuntary gambler, for in all sales where future payment is to be made both parties speculate as to what will be the value of the currency to be paid and received.

Fluctuation, however, in the paper value of the measure of all values (gold) is detrimental to the interests of trade.

It would compel the debtor class to pay, beyond their contracts, the premium on gold at the date of their purchase and would bring bankruptcy and ruin to thousands.

This implies a return to a specie basis, and no substitute for it can be devised.

It is a duty, and one of the highest duties, of Government to secure to the citizen a medium of exchange of fixed, unvarying value.

Among the evils growing out of the rebellion, and not yet referred to, is that of an irredeemable currency.

I recommend that her Senators and Representatives be promptly admitted to their seats, and that the State be fully restored to its place in the family of States.

The freedmen, under the protection which they have received, are making rapid progress in learning, and no complaints are heard of lack of industry on their part where they receive fair remuneration for their labor.

I earnestly desire that neither you nor I may be condemned by a free and enlightened constituency nor by our own consciences.

In a short time we must, each of us, return to the ranks of the people, who have conferred upon us our honors, and account to them for our stewardship.

These blessings and countless others are intrusted to your care and mine for safe-keeping for the brief period of our tenure of office.

Manufactures hitherto unknown in our country are springing up in all sections, producing a degree of national independence unequaled by that of any other power.

In coming before you for the first time as Chief Magistrate of this great nation, it is with gratitude to the Giver of All Good for the many benefits we enjoy.

I am well aware that the President was very anxious to have a foothold in Texas, to stop the clamor of some of the foreign governments which seemed to be seeking a pretext to interfere in the war, at least so far as to recognize…

The possession of the trans-Mississippi by the Union forces seemed to possess more importance in his mind than almost any campaign east of the Mississippi.

I knew him as a frank, positive and generous man, true to his friends even to a fault, but always a leader.

I have no doubt that Pemberton commenced his correspondence on the third with a two-fold purpose: first, to avoid an assault, which he knew would be successful, and second, to prevent the capture taking place on the great national holiday…

They knew from the temper of their men it would be successful when made; and that would be a greater humiliation than to surrender.

I make this proposition to save the further effusion of blood, which must otherwise be shed to a frightful extent, feeling myself fully able to maintain my position for a yet indefinite period.

I have the honor to propose an armistice for--hours, with the view to arranging terms for the capitulation of Vicksburg.

I see no prospect of the former, and there are many great, if not insuperable obstacles in the way of the latter.

Unless the siege of Vicksburg is raised, or supplies are thrown in, it will become necessary very shortly to evacuate the place.