New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1861-12-10

81 large hs the CtCTcturl udu estlInuted Dy
about SOS, 500, 900. But the appropriations now
asked for, making all due allowance, from the
experience of the last six months, are
1913, 9O4, 427 GO.
The Secretary recommends economy, retrench-
ment and reform. Unnecessary Offices should
BIO abolished, and salaries reduced wherever it
is practicable. The property of Rebels, he
thinks, should be made to pay, as far as posi-
bic, for the war they have provoked, and be
coDfscated to that end. Slaves, he suggests,
may be put to q better use than mere confsca-
ton, by being emancipated and put to useful
labor on wages.
The only change he proposes in the tariff, is
to augment the duty on brown sugar q cents
per pound; TO three cents on clayed sugar; to
twenty cents per pound on green tea, and FIVE
cents on coffee. The income tax he advises be
increased, so that with that and duties on
stills, distilled liquors, tobacco, bank notes,
carriages legacies, &C., a sum of So, 1000, eco
may be realized. A still more important sug-
gestion in the issue OF Treasury Notes, as cur
rency, is made by the Secretary The circu-
latiOn of the Banks of the United States, he
estimates at something over $500, 1000, 900, Of
which $l50000,0O0 ia in the loyal States.
This he considers loan without interest, from
the people to the Banks, and it is deserving
of consideration, whether this advantage may
not be transferred to the Government. There
are two ways of doing this; FIRST, a
gradual withdrawal of bank notes from
circulation, aud Issuing in their stead,
United States notes, payable in coin, in
amounts sufficient for currency. The other
plan is the preparation and delivery to institu-
tons and associations of United States notes,
convertible into coin on the pledge of United
States bonds and under other needful regulations.
The first plan he thinks liable to the hazard of
pancs, and all their evil consequences, and
therefore Objectionable. The second he approves
of, as giving a uniform and sound currency,
safe against depreciation, protected against
losses in discounts and exchanges and affordiDg
an alienation to the burdens of the war in the
increased facilities for obtaining the loans re-
CURED Such notes would be the safest cur.
rency the country has ever had, available in
all parts Of the Union, as the notes would 30
receivable for everything but duties The plan
is therefore recommended with the greatest
confidence. OF the power of Congress to put
such plan in operation he has no doubt.
The total receipts for the year are estimated
at $329, sol ,994 80 of which amount S2l3,9Oi,-
427 68 must be provided for by loans. The
estimate to July, 1868, should the war last so
long, is SG54, $50, go 81. Add to this the
interest on what we already owe, and our
debt at that date will be about $500, 200, 600.
OF our ability to raise that sum there can be
no question. and, according TO the time it has
hitherto taken tho nation TO pay OF its debts,
his will be hquidated in about 80 years.
Such are the main points Of the Report,
with al additional recommendation in favor of
opening trade as fast as We penetrate into the
South. The document BELTS the high char.
lcter which Mr. Chase has earned as q fnan.
,ial officer since the portfolio Of the Treasury
las been III his hands.