he advantages of a currency of a fixed known value would also be
reached. In my opinion, by the enactment of such a law business and
industries would revive and the beginning of prosperity on a firm basis
would be reached.

Other means of increasing revenue than those suggested should probably
be devised, and also other legislation.

In fact, to carry out the first section of the act another mint becomes
a necessity. With the present facilities for coinage, it would take a
period probably beyond that fixed by law for final specie resumption to
coin the silver necessary to transact the business of the country.

There are now smelting furnaces, for extracting the silver and gold from
the ores brought from the mountain territories, in Chicago, St. Louis,
and Omaha--three in the former city--and as much of the change required
will be wanted in the Mississippi Valley States, and as the metals to be
coined come from west of those States, and, as I understand, the charges
for transportation of bullion from either of the cities named to the
mint in Philadelphia or to New York City amount to $4 for each $1,000
worth, with an equal expense for transportation back, it would seem a
fair argument in favor of adopting one or more of those cities as the
place or places for the establishment of new coining facilities.

I have ventured upon this subject with great diffidence, because it is
so unusual to approve a measure--as I most heartily do this, even if
no further legislation is attainable at this time--and to announce the
fact by message. But I do so because I feel that it is a subject of
such vital importance to the whole country that it should receive the
attention of and be discussed by Congress and the people through the
press, and in every way, to the end that the best and most satisfactory
course may be reached of executing what I deem most beneficial
legislation on a most vital question to the interests and prosperity
of the nation.

U.S. GRANT.

EXECUTIVE MANSION, _January 20, 1875_.

_To the House of Representatives_:

I have the honor to transmit herewith a report from a board composed of
one person named by the head of each Executive Department and of the
Department of Agriculture and Smithsonian Institution, for the purpose
of securing a complete and harmonious arrangement of the articles and
materials designed to be exhibited from the Executive Departments of the
Government at the international exhibition