The Rhode-Island Republican. [volume] (Newport, R.I.) 1809-1841, 1826-12-14

eieHt5 tOr ppf3iuhI WIN sl'a"i onh inhcA-
ible perseverance the total discharge OF
The dgst.
Bnsides tie seven millions ofthe loans Of
gSl3, which will have been discharged IN
course ofthe present year, there are nine
millions, which, by the terms OF the con-
tracts, would have been, and are now re-
dcemahle. Thirteen millions more of the
loan Of i5l4, will become redeemable from
and after the expiration Of the present
month and nine other millions from and
after the close Of the ensuing year. They
constitute mass OF. thlrty-one millions OF
dollars, all bearing an interest OF SIX per
cent. more than twenty millions VI which
will be Immediately redeemable, and the
rest within little more than year. Leay-
ing of this amount, fifteeen millions to con-
tinuc at the interest of Sin per cent. but 10
be, as far as shall be found practicable, paid
of in the years 1897 ond 1929, there Is
scarcely doubt, that the remaining sA-
teen millions might within few months,
be discharged by loan not exceeding iiye
per cent. rcdeemable in the years le29
and 1880. BY this operation, sum o.
nearly half million Of dollars may be saw
ed to the nation; and The discharge Of the
whole thirty one millions within the four
years may be greatly facilitated, if not
wholly accomplished.
BY an act of Congress of3d March, 1925,
"a loan, for the purpose now referred to,
or a subscription 10 stock, was authorized,
at an interest not exceeding four and half
per cent. Bus, at that time, so large por-
ton OF the floating capital OF the country
was absorbed IN commercial speculatlons,
and so little was left for investment in the
stocks, that the measure vas but partially
successful. At the last session Of Con-
press, the condition Of the funds was still
unproptious TO the measure; but the
change so soon afterwards occurred, that,
mad the authority existed TO redeem the
nine millions now redcemablc by on cX-
change of stocks, or n loan at five per cent.
It il morally certain that 1t might have been
effected, and with it u yearly saving Of
ninety thousand dollars
With regard to the collection of Rcvc-
nue. Of Impost, certain occurrences have,
within the last year been disclosed, in one
or two Of our principal ports, which engag.
ed the attention Of Congress mt their last
session, aui may hereafter require further
consideration. Until within a very few
wears, the execution Of the laws for raising
the revenue, like that Of all our other laws,
has been ensured more by the moral sense
of thc community, than by the rigors of a
jealous precaution, or by penal sanc ions.
Coniding in the exemplary punctualty and
insullied integrity Of our importing mer-
chants, gradual RELAXATION from the pro
visions Of the Collcction.Laws, a close ad-
heroncc to which would have caused incon-
Nenence and cxpence 10 them, had long
become habtual and indulgenCes had
been extended universally, because they
bad never been abused. II may be wor-
thy Of your serious consideration, whether
some further Legislative provision may not
be necessary TO como In AID of this state
of unguardcd security.
From the reports herewith communica-
ted ofthe Secretaries of War aud the Ma
w, with the subsidiary documents annex
al 10 them, viii he discovered :he present
condition and administration Of oer Militia
" establishment OH the land and on the
sea The organization Of the Army hov
ing undergone no change since its rcduc
tion to the present Peace establishments IL
1921, IL remains only TO observe, that it /.
vet found adequate To all the purposes io'
which permanent armed force IN time o
peace can be needed or useful. Ii may bC
proper to add, that, from difference of o
piuon between the late President OF tho
United States and the Senate, with regard
10 the construction of the act of Congress
Of "a March, 1921, To reduce and tiN the
Military Peace Establishment Of the mi
ted States, il remains hitherto so far with
out execution, that no Colonel has beer
appointed 10 command one Of the Rcgi
mcnis Of Artillery. A supplementary ol
explanatory act of the Legislative appear;
TO be the only expcdient practicable for re-
moving the difficulty Of this appointment.
Ia period Of profound peace, the con
duct Of the mere military establishment
forms but very inconsiderable portion q
the duties deyOlving upon the administro
ton of the Department of War. 1t will be
seen by the returns from the subordinate
departments ofthe Army ,thatevery brancl
of the service is marked with order, regu
larity, and discipline. That from the Com
manding- General through all the grada
tons Of superintendence, the officers fee
themselves to have been citizens befor,
they were soldiers, and that the glory Of
Republican army must consist in the spiri
of freedom by which it is animated, aud o
patriotism by which il is impcllcd. Ii ma,
be confdentally stated, that the mora
character Of the Army is in a state ofcon
tinual improvement, and that all the ar
ranpements for the disposal OF its part
have constant reference TO that end.
But to the War Department arc attribu
ted other duties, having indeed relation &
future possible condition of war, but be
ing purely defensive, aud in their tendono,
IL. 4