Daily Ohio statesman. [volume] (Columbus, Ohio) 1855-1870, 1861-12-13

penditufeB srtJ1ooAiraS
| On the other hand the estimated receipts are
| From customs, lands nt., +'f' '''.
& ordinary sources. Sl5, 500 900 90 lsil.G,l2i
= From direct tax.,... 90 900 Oo, soai 5a!
Iron ;nc,nSn1 inIsrna' ,nco%s ucoSs, ysIs5 6lGs
tax.,-.-.." 5OOOO,uov w tp4 ~
an sss.es.. ~ o5soo 600
] And leaving balance to be providedfor
of ..........,....'.''.s'... JTvo3l24o
The whole amount required for loans may, therefore
For the fiscal year 1862 under exsting
laws. SIo,44y,Of5
For the fiscal year 1862, under laws tobe -. 80.
enacted, .........,..........,-, 2OO,OOO,UOO
1I1 70 iUs bo enacted. .css y.. @ s s7O5sLe
Making an aggregate Of G54, ,0eO, ,9s0
The total may be stated in round numbers at six hun
dred and hfty-five million dollars. noe
tabular statement will accompany this report, show
ing somewhat in detail the actual and estimated
receipts and expenditures Of the financial years lsoi
1862, and 1868 iot u .ca 8.
Il only remains, in order TO complete the view of TN
financial situAtion 10 submit statement OF The public
debt as II was on the lst day OF July 1850 and 1851 ant
will be- according the estimates presented, at thu
same date IN each of the years 1862 and 1868. ii
The statement, in brief, Is follows Z, ,.t
On the ist day OF July, 1866, the public :,
debt was. $o4i ifoS,Vo "
On the l-t day Of 5uly. 1861, the public -. !.
deo. was 80, .,.' 9UoOI,oso u
on the ist day Of July, 1852 the public -, -,
On asSs .Ss T,, i,s Ssy ~ of INV 1853 The phsc
debt will be...- osf'3fa oVE
l'ldThe particulars OF which the debt consists
and the portions which have been or vii
be paid or contracted in each year, will appear
fully in table, which will be submitted witt
this report to Congress. Another table will bs
submitted, showing the amount OF the public
debt In each year, from 1871 to 1851 inclusive
The Secretary, believing that the irankest il
the wisest policy for nations as well az individ
uals, has thought IL his duty to submit to Con
gress this plain statement OF the financial con
dition OF the country, That 1t imposes consid
erable burdens is not to be denied or disguised
Il is consoling to know that the energies and
resources of the people are not insufficient for
them. The public debt on the Ist of July, 1868
r. the war be protFacted until that time, on the
scale of expenses contemplated by the estimates,
will be, in round numbers, nlne hundred millions
of dollars. The amount of the public debt in the
year 1916 was $l27 1874 ,933 IA, and in twenty
years il wac paid off by the people. The coun,
try, even Il the loyal States only are regarded
can sustain and pay of in thirty years the debt
TO which rebellion now exposes rs with hardly
greater proportional contributions from incress
ed and increasing resources than that debt made
necessary. ~ ,s..i, ..-.is
Ii will be for the wisdom Of congress TO De
termine how far tho annual and aggregate Dur
dens of the people shall be diminished by re
tFenchment, by economy, by prudent yet ylgor'
Gus adjustment OF means TO ENDS, ana py JUST
contributions from rebel property: Nothing
moro certainly enhances credit and improves re-
sources than the reduction Oh wants ana Wise
energy IN administrator. feas D.
The Secretary forbears making any recon-
mendstion concerning the autnoriues Wiln Wnicr
Il may be expedient 70 invest MN IN respect to
future loans. he pegs leave 70 reier tnis mat
ter altogether 70 the petter Juugment Oh Oon'
gress, suggesting only tnst, wneteYer o'ecre
tion u may De tnougnt ptuuens 70 give MN l
other respects, the rate OF Interest De Limited by
law ~
Turning from the more immediate consider
alton OF the pubic finances, the secretary So
licite the attention OF Congress TO some other
topics connected with the administration OF the
Treasury Department. s..s.s..,za..,,,s. "a, -,
By the act OF Congress OF July -, Iool, com
mercial intercourse, with states declared 20 pc
in insurrection by the fresioent' was psonipit7
ed, and the Secretary OF tne treasury was au-
thorised TO establish such rules ana regulations
as he might deem expedleny IN accordance
with which, under license IRON tDe ffesloent,
arestricted o trade might DO conducted: Upon full
consideration OF the wnole suplect, ~ mas not
been deemed ADVISABLE as yet 70 estaphsn any
general rules ana reguiatlous lot eucn trade, IN
q few instances, special licenses nave peen
granted 70 convey particular Articles OF proper
~ into insurrectionary otetes' ana 70 carry on
limited trade with parts OF EAstesn sirglnla m
naoited Dy loyal peopie; put, Will tne1e incoh-
siderable exceptione IL mas oeen nltnerto tnought
best 70 enforce the pronioiton 70 tne Iuil extent
OF the act. AS the ACT itselI, however, GOES
not seem to contemplate the iorieitufe OF pro-
perty, unless used FUR tne purposes Oh tne rebel
lion, or found In transit 70 or from insurrecuon.
ary States, its execution nas not been extended
beyond that intent. .-.-.-.,..fs.sg.a N,
To avoid, as far as possible, the practical IN
cpnveniences Of this suspension OF commerce,
the Secretary, with the appreciation OF the Pres
ident, has established regulations, IN accordance
VITA which cotton, rice and other property will
be collected and cared for BY agents Of the de.
partner. in nsq5rectonsry a @ districts 70 occupied
By By sea e New York. An sales win be made
for account OF the government, and the pro,
ceeds paid into the national treasury, subject to
any just claims OF loyal citizens. Ihls arrange
mens 10, OF course, temporary IN It's nature
As general rule, IN the Judgment OF the sec
Rotary, commerce should follow the nag; and
NIaruD "a