Indiana State sentinel. (Indianapolis, Ind.) 1861-1865, 1861-12-18
INDIANAPOLIS, IND, WEDNESDAY,,

and contractors made vigorously responsible All
unnecessary officers should be abolished and
salaries and pay materially reduced. While thus
recommending retreDehments he feels himself
constrained 70 renew suggestions heretofore sub
mitted by him. that the property of rebels should
be made to pay in part at least the cost of re
bellion.
Property OF great value in loyal States Is he'd
by proprietors habitually engaged in guilty at
tempts 20 break up the Union and which is justly
forfeited TO the people, and which should be sub
iected TO sequestration or conhscat1on and the
proceeds applied to the satisfaction of claims
arising from the war The property Of rebels in
rebel States should be treated in the same man
ner. Rights TO service and labor under slave
laws must Of necessity form an exception TO any
rule Of Confscation. Persons held by rebels un-
der such laws as slaves may, however, be justly
liberated from their constrant and made more
valuable in the various employments through
voluntary and compensated service than If con-
fscated as subjects of property
The Secretary SAYS the most sacred duty of the
American people now require the conservation of
all their energies and resources to the establish
ment of the Union, and sound policy would
seem to suggest no extension OF foreign trade
that the duty on tea sugars and coffee be increass
ed TO 215 cents per pound, 3 cents ON clayed. 20
cents on green tea, cents on coffee, and that no
other alterations of tariff be made, unless further
experience shall demonstrate the necessity. He
deems il necessary to increase the direct tax so
as to produce from loyal States a revenue OF at
least $40 100000.
The Secretary is aware that the snm is large.
but seeing no probability exceeding $40 900 900
during the current year he feels,that he must not
shrink from plain statement of the actual ne
cessites of the situation. Two-ffths of one per
cent. on real and personal property of the loyal
States will produce s44 0O0,000 The Secretary
recommends plan for a national circulation of
notes, the features of which are q circulation Of
notes bearing common impression, authorized by
common, authority and the redemption of these
notes by associations and institutions to which
they may be delivered for issue and the security
OF that redemption by pledge of United States
stocks and an adequate provision AOf specie, and
an important result produced in this plan will be
in the increased security of the Union springing
from common interests in its preservation created
by distribution of stocks to associations through
out the country as the bases of their circulation.
He entertains the opinion if credit circulation
be desirable, it is most desirable in this form.
He states it is earnestly hoped, not without
sufficient ground, that the present war will be
brought to an auspicious close before midsum-
mer. In that event the provision for revenue by
taxation recommended, will amply suffice for all
financial exigencies without additional loans, and
enable the Government at once TO begin a reduc
ton of the existing debt. If the war continues
until July /, 1862, the public debt will be
S5l7 300 800; if to July I, 1863, il will be in
round numbers S900,u00000.
The prohibition of trade with the rebel States
has been fully enforced. Regulations have been
established by which rice, cotton and other prop
erty in the nsurrectionary districts occupied by
our troops will he collected and sent by sea TO
New York. All sales will be for account of
Government and 10 rrDcpprs Maid intn the Ma
tional Treasury. As a general rule commerce
should follow the flag, and when the authority of
the Union is fully restored in rebel States ports
should be opened without restriction and all com
merce freely permitted.
The Secretary says it has been his endeavor TO
infuse into his Department the greatest possible
activity and vigor, and hopes that continued en-
deavors. with larger experience, will make it what
it ought to be.