and a communication of them at present would not, in my judgment, be
compatible with the public interest.

A. LINCOLN.

TO SECRETARY OF WAR.

WASHINGTON, January 15, 1863.

SECRETARY OF WAR:

Please see Mr. Stafford, who wants to assist in raising colored troops in
Missouri.

A. LINCOLN.

PRINTING MONEY

MESSAGE TO CONGRESS.

January 17, 1863.

TO THE SENATE AND HOUSE OF REPRESENTATIVES:

I have signed the joint resolution to provide for the immediate payment
of the army and navy of the United States, passed by the House of
Representatives on the 14th and by the Senate on the 15th instant.

The joint resolution is a simple authority, amounting, however, under
existing circumstances, to a direction, to the Secretary of the Treasury
to make an additional issue of $100,000,000 in United States notes, if so
much money is needed, for the payment of the army and navy.

My approval is given in order that every possible facility may be afforded
for the prompt discharge of all arrears of pay due to our soldiers and our
sailors.

While giving this approval, however, I think it my duty to express my
sincere regret that it has been found necessary to authorize so large an
additional issue of United States notes, when this circulation and that
of the suspended banks together have become already so redundant as to
increase prices beyond real values, thereby augmenting the cost of living
to the injury of labor, and the cost of supplies to the injury of the
whole country.

It seems very plain that continued issues of United States notes without
any check to the issues of suspended banks, and without adequate provision
for the raising of money by loans and for funding the issues so as to keep
them within due limits, must soon produce disastrous consequences; and
this matter appears to me so important that I feel bound to avail myself
of this occasion to ask the special attention of Congress to it.

That Congress has power to regulate the currency of the country can hardly
admit of doubt, and that a judicious measure to prevent the deterioration
of this currency, by a seasonable taxation of bank circulation or
otherwise, is needed seems equally clear. Independently of this general
consideration, it would be unjust to the people at large to exempt banks
enjoying the special privilege of circulation from their just proportion
of the public burdens.

In order to raise money by way of loans most easily