The gradual reduction of the currency is the only measure that can save the business of the country from disastrous calamities, and this can be almost imperceptibly accomplished by gradually funding the national circulation in securities that may be made redeemable at the pleasure of the Government.
He argues that gradually reducing currency is essential to prevent economic calamities.
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Feeling constrained to withhold my consent, I herewith return the resolution to the Senate, in which House it originated, with a brief statement of the reasons which have induced my action.
I transmit herewith a report from the Secretary of State of the 2d instant, together with accompanying papers.
The orders issued by me upon this subject are in accordance with long-established usage and hitherto unquestioned authority.
I transmit herewith the report of the Secretary of State on the subject, with its accompanying papers.
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