Oxford Democrat. [volume] (Paris, Me.) 1833-1933, 1862-12-05

Peru snd Chill.
The com mi,s,on under the convention with
an. R.nublis Of New Crenads, closed lie
session without having audited and passed
> ,noo all the claims which were submitted
10 IL. A proposition !. pending to revive
|, the CONVENTION. that IL may be able to do
more complete justice.
The com mission b.tween the United States
and the Republic OF Costa Rica has compile
ted ,ts isbors and Submitted its report.
: Irhc President allude. % the Importance
OF connecting America with Europe be a'e''
: erraph acro.. this continent; AMI suggest.
scientific exploration OF our western terrific
rw
The condition OF the finance. will claim
yovr most d,lieent attention. The vast sx'
pcodi,ure. incident "a our military and ra.
val operations required tor iha suppression
% the rebellion have hitherto been net With
i. prompii,uis aud certainty unusual IN SIM
liar circumstances. and the public credit ha.
been fully maintained. The continuance Of
tho war. however. and the increased dis.
hur,ements necessary for the augmented
force. now in the 6sli. demand your best
reflections as 20 tho bee, mode Of providing
the necessary revenue without injury 10
business, with the least possible burdens
upon labor. The suspension o' specie pay
!. nent 81 the bans, coon alter the e,mmrncc-
mcnt Of your las, session, made large issues
OF United States notes unavoidable. In no
other way could the psyncn, Of the troops,
1 and IN, satisfaction Of other Just demand.
b. ~ economically or - we'll provided Tor.
The iudicious legislation III Congress. s@eur'
ING the rceei,ahiliiy Of thss~ notes Tor loans
and internal duties and making them le.
. cal tender Cor other debts. has made them
universal currency and has sati.hed, partial
Iy nj least and Tor tho time. the long ielt
wan, OF an uniform circulating medium.
. saving thereby To the people immense sums
In discount. and exchanges \ return To
specie payments, however. Mt the earliest
per od compatible with due regard to all
interests. should ever lie kept IN view
Fluc,uaiion. IN tho value oi currency arc
alssy- injurious. and 10 reduce these Hue.
tuston. 10 the loves, ro.slhle pom, will
Away. bc a leading pur!o.e m wi'e lcris
l'iion. Prompt aud certain conSsruhiliiy
into coin - generally Acknowledged Ia 10
bet and .urr-t against thin. and u eh.
trenely iouhtful whether circulation OF
United State. NOTES. payable IN con-. and
: .ufhcisnily large iur the wanis al the Isopls
can n. permanently and 'aieiy MAINTAINED.
I. there snv other mode in which the nsces-
.aty rro,i,ion for the public wants can b.
made. and the great advantages OF . 'air
ani uniform currency secured! ! kno~ ~
none which promises 50 certain results. and
at the zane time 80 unohrction,hlc. a. the
organization of banking associations, under
n general act Of Congress, will 10. Guarded
in iis provisions 10 such associations, tho
government might fufnlsh c,fculaiin: notes
on the security vi United States bonds, de.
p,.i,ed IN the treasury. These notes, pre-
pared under the supervision OF tho proper
oficyr-. beng uniform ~ appearances and
security, and convertible Away. into coin.
would At once protect labor against tho
evils ola vicious currency. and facilitate
commerce. hy easy and saie exchange. and
moderate reservation from the interest on
the bind. would compen.ato the United
States for the preparation and distribution
of the note. aud u general supervision 81
the system, aud would tighten the burden OF
iha, part OF the public dehi employed ne
,ecur,iio. The public cr,di, moreover.
would 10 greatly improved, and the neeo-
tistion of new loan. greatly facilitated. by
the steady market demand Tor government
bonds. which The adoption OF the proposed
system would create.
IL /. an additional Recommendation 81 the
measure Of Considerable weight IN my judy
ment, tha, IL would reconcile as FAR n. pos
,ible all r,i.,ns interests, 10y the oppOriu'
niy offered to existing Institutions to re-
organize under the act substituting only the
secured uniform national circulation Tor the
local and various ciTcul,tions secured aud
unsecured now Issued by them.
ELcrrTs AND rIrtNprrErs
Tho receipt. into the United STATE. Treas.
ury from ali sources. including loan. and
h,lanc- of preceding year. Tor tho h'e,l
year ending the 30ih Of June, ls6a. were
S5s3, s55 20 OF which sum SAP oSG 800 GO
were derived from Gu toms. Sl.1gj,3J 81
from the dirrc, tax, from the public lands.
sl52 ,aO3 -. from mlsccilaneou. sources,
sgJl.Tr5 81. from loan. in oil forms, SJ?9.-
, Gy2. 400 80. the remainder. 81 25I uGj 80
va. the balance FROM last year. The dis
bur-ement. daring tho same period. were
for Congre..lorsl. Executive AMI judiciary
cour... Sl.339.7lO IS; Tor mi.ecllansoo.
expense, including the mints. Loans. pj.,.
age Deficiencies. collection OF revenue and
other light charges, Sli.l29.T1l 80. for
eIp.n.s. under the Interior Department,
. 81 l02 gs5 50. under the war department..
|, SJyi .3GS .iO7 sc. under the Navy Depart.
meni. Si2.6i2 500 90: tor inicr's, on the
public debt. SI3. 100. SEA IS, and Tor the
paymsnl 81 the public debt. including re-
ilnbur.etnsnt Of temporary loans and re.
} demp,ion.. 500 900 922 %. making an ng.
cr.ra,. Of Sj5O.sil., 100 IS. and leaving
balance in the ires.ur, on tie fret day OF
July, 1869. Of Sl3 .Oi3 $40 II IL should
/, be observed that the sum 81 $50 900 922 ~.
expended for reimhur.smrnis and reicmp-
tiun Of the public debt being included al-o
in the loans made. may be properly deducted
; 10th from the receipt. and expenditures,
leaving the ac'nai receipts OF the year.
, SlSi .ss, 3oi o.. and the expenditures,
. Si,i9li.,ss 10. Other information on
the subject Of the finances will be found In
th. r-l1rt OF the Secretary Of the Treasury.
+. 10 whose stat.msnt. and views invite your
most caLdid and cOnsidrratr attention.
S.yr AND WAR DEPARTMENTS.
The report. OF the Secretaries OF the Navy
and War are herewith Transmitted. These
I rrport, though lengthy. are scarcely more
thar abstracts Of the very numerous and
extensive transactions and operations con.
/ Quoted through thee departments; nor
could give u summary Of q em here upon
Z any principle which would admit OF II. DO
ing much shorter than the reports them.
I selves I therefore content myself with
laying the report. before you and asking
], your attention TO then.
rosr OFFICE pErARINEST.