The Tiffin weekly tribune. (Tiffin, Ohio) 1859-1868, 1861-12-13

Nafi'h Volp'rth iVtI NNf'tiH'hAs ! ~
immodinte x Roicicf wtre provided fof
NY isyuiHg $f4,oiaeo3i I no pefgcnt. two-
| yrurs' topshfy bot,s aid Si3,sT77b0 IN
Same notes, payable in sixty Gays. Iiis
NJ n care was 10 provide for dishufsc-
mcnts for tie war, Lnd he adopted the
plan 10 eggsge ile banking institutions Of
! the three commercial cities Of the sea.
bosld TO advance the amodnt needed, IN
loans lor three ycers IN 3-l0 bonds, 10
| be rcimbuts,d ir0m proceeds Oi similar
bonds supscrbcd for by the people hope
ing thus 10 combine the capital Of the
banks and the people with the crtdlt ui
th. Government so as to give cllicruoy 10
ndmimster active and &C mpctout supp r,
10 public credit, aud the rtnult has iui.
filled the hore.
liz then reh'prsos tho agreement en-.
tered into between the banks sud him.
self, hy which the former agreed to take
loans. The history ol the first twU lOuhs
hos bcen made public. The second loan
was negotialcd with the banks on the
10th Of Novtfnber, by which he sgrcod 10
issue 10 them liity millions m q per cent.
bonds at par Tor the bonds bearing 3.lh
interest THIS agreement was coupled
S"h u" huuhgci"'ut " 'c'n'.u' 'v''.. ~
ul" ru'u''," no 'NP'ntp, .AscP' nv. w. pr.
p,riug ulu ISSUING 'nc uuhus' ".l W "
aho c""P'eu WIN Wv op,'p'l 70 VIC D",h ~
''iat on or e,,cr 'ne ~ OF Sa.uniy u 'su'ln
uu'.h'' ol my h'lnonS Hnou'u uo n.'"a \,
rednlrcd In addition 10 thcss lonns
,l'o,Ni1ru, w w. 'v,' ,,r ~ ,n.. and
oo,' .,,o ,n jon,,nd ,,J sa asb' Iob.
80 ~ -. 49, ,r."ss,,s,, rrLi. .,ro,,t
.,u,",u'u ~ WV .'a'lLg o.an, ,,a ncn.
my m.y r 49," nr,,c,,,,o -, ,caIi,ed r,om ldpns
|, ,,r,,ns forms ia. slg7.7io ass. The
!" '",ous .,n,m ,9 49, nn, h,Itsliod nj.
...'s,i'. ..',' ~
H.. ,.,lic,in, u,o r.to, N,
o i,r., -. ,ho ,m.,.s,,rc yn hc s,hr,i,.
uu,'.s ,..' ",u'l ~" w -, - ~ a,, ,,.,,
Wv w. o'uFvJ, F,,osia,,,. q, d,a,in;.t,d J,i,,e.
w. y. u'' m. i,', 80 snn.r md cvr,n,,i,.
,",,,. !" J. in w,,cSo"ses Sna ON sb;pbn,rd
TLe difference wns Mediterranean ,r
the revenue. while po,cntisl cause Of
reduced receip,s may be found I'm tho
lchnnged circumstance Of the country
proving unfavorphle TO foreign commerce.
. L
,ucc his csiimotcn for 1902 from the rev.
cnuc from Sh7 600 900 70 32,Igs CO2.--
Tie estimates from receipts form lands
mud miscellaneous sources he reduces
from SO, 600 900 to 50 ,3Oi OG2.
The only other source of revenue is o
direct tax authorized Nv Congress. which
liflncrcascd | 10 the limit proposed by the
Sccrciarv nud nasumed bv Stntps, the
further sum oftyycuty millions may be cx.
pccicd. The aggregate of rcveIpe may
bo thus estimated at S6l,bb2 ,G60, (, which
il S2b ,4l7,33i less than the estimates
of Iuly. ~
Tie Scdreiory states the cstimatcs for
July were based on the raising of $50 600
volunteers and an increase Of the regular
army by II regiments, but after that re-.
port had been closed Congress authorized
the atccrtancc by tic President OF hUO,-
300 mrn. hcsdus additional conpanits
aud officers. This largo increase hss and
must ncecestrily augment the cNpcndi.
turcs far beyond the limit indicated ry the
original estimates. which will be- p,ill fur.
thcr cvtcnded hy the increase Of the Navy
and additional appropriations nrn asked
FOR, OF these additional appropriations
St7,9Sl,b ,bG6 were authorized hy nets o
lust session, aud Si43, 1870 ie27 ore asked
for waking an aggregate, Including S22,.
7s7 ,Sss for indefinite appropriations, oI
SsI3 ,pU4, i2T To provide these large
sums retrenchment and reform nrc indis
pcnsablo. Contracts should be subjected
10 strict supervision and contractors o.
rigorous responsibility.
AN unnecessary offices should bc ubol-
ishcd aud salaries and pay materially re.
luccd. While thus recommending re-
tFenchmeut, no feels himself constrained
20 renew suggestions heretofore submit.
ted by him, tha, the property Of rebels
should be made 10 pay In purt nt lcast