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

7
t,rs iuto The circulation OF the country, may be re-
eaIdei 50 a loan from the people, payable on dc
manf, without interest.
A brief reoapitulation will exhibit the general re-
snlt:
/ Thle were psid to creditors, or exchanged for
I c0is e p0T, at die. snt dates IN July and Au-
4 gust per cent two years potes, 70 tie $1,000, ~.
upon % Gays vel cent notes the sum of l2s77fSC 90
'Ss me- mon ,2sc ~ Sl b tS IN o for
100000 %
upon Ike artis w, 100000 60
There borrowed at PAR for 7 per cent on
/ the loih Of November, npon twenty years
3 9cadss s.ertsi -, 4S55E,o 10
! audon deposit with The Treasurer. GA the o0h
Of November, OF Unied STAKES notes, payable
24sSQa25 co
/ Making an sgrrega'e. realized from loans In
various forms. tl91 2l25ee Il
J While success thus complete hes so far attended
tire relating loans, the Secretary regrets
20 say that the receipts Of revenue from dutieeiaye
rot as yet fulfilled the expectations INDUCED az the
date Of his July report.
The act modifying The rates Of duties which re-
ceiyed the hnal sanction OF Congress differed in
several respects, FROM the MEASURE which lie had toe
honor Of submitting TO their consideration In most
of these particulars especially IN tho diminished
duties on tea coffee, and sugar. and IN the exenp-
ton, from the operations Of tho act, OF goods IN
warehouse ana on shlpDOfJ, lhc dlurfcnCe, however
warranted 10y considerations of general policy, was
certainly advantageous 10 the Tevenue while
another, and perhaps more potential cause OF re-
duccd receipts may be found in the changed cir
cumstances Of the country, which have proved, even
beyond anticipation, unfavorable TO foreign com
merce.
At the date OF his report, the Secretary counted
or a revenue from customs, for the financial yesr
1862, OF Sj7 000 COO but the circumstances 10 which
he Las Just adverted now cOnstrln him TO reduce this
estimate to So, 1913 6t2 %.
The receipts from customs for The first quarter,
ending on Sept 30. were 7,l9S,6C2 5j; while the
receipts for the three remaining quarters cannot be
safely estimated at more than go 100000, making
the aggregate for the year the cum just mentioned,
Of go, l9S, 602 s..
Tie estimates of receipts from lands and mscelll.
neous sources must also be reduced from 600, 600
to - 354 062 So OF which s3jiC62 SO were received
during the quarter ending Sept. 80, 1901 End
so coo 600 are the estimated receipts Of the three
remaining quarters.
Tie only other source Of revenue which promises
an addition 20 the of the year Is the dire
tax authorized by Congress- from which, if increased
70 the limit proposed by the Secretary, and assumed
by the States the further of 600 0UO 0O0 may be
expected.
The aggregate Of revenue from all sources may.
therefore, be estimated at 50, $50 Cos A., which ia
lees by SIS, Az 334 90 than the estimate of July.
This reduction, however, though large, would not
have compelled the Secretary to ask any additional
powers for the negotiation of loans, beyond those
asked for in his July report had appropriations aud
expenditures been confined within the estimates then
submitted.
These estimates, il viii be remembered, oonten-
plated expendituIes in all departments, and for all
objects, 20 the amount of $3lS,5l9,5sl ~. or this
SUM- slS5, 1917 10 were for additional apIropriG
tions required by the Department Of War and
Sl7 652, los 09 for appropriations already made for
that department. The basis OF the Estimates for
these additional appropriations was the understand
ing that il would be necessary 10 bring into the ID,
I'LL. 4
and fifty Thousand volunteers in place Of the seventy
five thousand drafted militia originally cal ed out,
and TO Increase the regular army by the addition OF
eleven new regiments making total force, in-
Guiding the regular army already organized, OF about
three hundred thousand men. Alter estimates for
this force had been furnished to the Secretary, in
accordance with law, and bis own report, founded
upon them, had been closed, the President thought
it expedent in order TO make the contest short and
decisive TO ark Congress TO place at the control OF
the Government at least AGO. 900 men and 500 00O-
0O0 In the number thus called for the regulars
were included. Congress, animated by the same
desire for short and decisive contest, went beyond
this recommendation of the President, and author
lied the acceptance Of volunteers in such Dumbers
not exceeding 100000, as he might deem necessary
Congress also authorized the whole increase Of the
regular army estimated for by the Department, and
provided further for additional companies and for
new officers i'll several branches Of the military GER
vice.
The action Of Congress, therefore, contemplated
the employment. if necessary, OF a force, including
the existing regular army, Of about $50 GOO men. To
insure it's efficiency the President authorized TO
appoint any number of maor-generals and brigadier
generals he might think necessary and 70 increase
the staff of majorgenerals in the field by discretion
airy appointments Of adsde-camp, with various
rank, from captain TO colonel.
This large increase OF tue army in men and OIL |
cers, and the liberal additions made by Congress TO
pay and rations, has augmented, and must necesSa-
lily augment expenditure far beyond the limit Ddi-
Gated by the original estimates; and the limit must
be still further extended by the additional runs
qUired for the increase OIL the navy ana ior other
objects
TO meet these increased demands, arising almost
wholly from the increase Of the army and navy and
the increase Of pay and rgtions beyond the original
estimates, large additional appropriations have been
and will he necessary.
OF these additional appropriations az 9S5, $50 6l
were authorized by acts of the last session, and
slI3 1870 927 76 are now asked for, making an ag-
gregate Increase including $22,7o1,9 1888 II for in-
definite appropriations and redemption of temporary
debt, beyond the estimates Of July, Of $2l3,9O4,-
III CO.
TO provide the large sums needed for the disburse
ments Of the current year. and the large which
the exigences Of the succeeding year may require,
will necessarily engage the most serious attention OF
Senators and Representatives.
The first great object OF reflection and endeavor.
in the Judgment Of the Secretary, should be the
duction of expenditure within the narrowest prac-
ticable limits. Retrencbment and reform are among
the indispensable duties of tho hour Contracts for
supplies to the army and navy as well as for public
work OF all descriptions, should be subjected TO
strict supervision, and the contractors TO rigorous
responsibility. All unnecessary offices should DO
abolished and salaries and pay should be materially
reduced. In these ways tho burdens OF the people,
imposed by the war, may be sensbly ligbtened; and
the savings thus effected Will be worth more IN pen
efcial effect and influence than the easiest acquisi-
ton of canal suInR even without cost or liability