The Union and journal. [volume] (Biddeford, Me.) 1858-1882, 1862-12-19

minerals. lie product Of gold and silver
during the current year will not much. n
at all, probably fall short Of one hundred
million dollars; and II must long continue
gradually, yet rapidly, to increase. II this
product be subjected to reasonable seig.
norage. ss suggested by some. or II, as sug.
ges,ed by Others, the mineral lands be subdi.
yided and sold In convenient parcels, with
proper reservations 10 favor Of miners now
in occupation Of particular localities, a very
considerable revenue may be derived from
this region without hsrt-hips to the actual
settlers and occupiers. And there are 9th.
er mines than those Of gold or silver, or
copper or iron, in the wide territory which
includes the public lands OF the u. States.
Every acre OF The fertile soil is mine
which only waits for the contact Of labor TO
yield It's treasures; and ever acre Is open to
the fruitful contact by the homestead act.
When the opportunities thus offered TO in
dus,ry shall be understood by the working
millions Of Europe, 1t cannot be doubted
that great numbers will seek American
homes, In order TO avail themselves Of the
great advantage rendered to their accept.
ance by American law. Every working man
who COMES betters the condition of the na.
tion as well es his own. He adds in many
ways, seen and unseen, TO its wealth, its iB-
telligence. and its power. II Is difficult 10
estimate the contribution which immigration,
properly encouraged by legislation and sd
mnistration, will make to revenue; but d..
rectly and indirectly, II cannot be reckoned
as less than that which may be expected
from the metallic products Of the gold-besr-
ing region. With such resources at the dis
posal Of the republic, no one one need DO
alarmed lest tho United States may become
unable to pay the interest on its debt, or TO
reduce the principal TO whichever point the
public interest may indicate. The republic
Is passing through the pangs Of new birth
to nobler and higher life. Twice already
she has paid Of national debt contracted
for the defence OF her rights; the obligu-
tions Of that which she now incurs for the
preservation Of her existence will be not
less sacredly fulfilled.
SUMMARY And RECOMMENDATION.
The general views Of the Secretary may
therefore be thus briefly summed:
He recommends that whatever amounts
may be needed. beyond the sums supplied
by revenue and through other indicated
modes, be obtained by loans, without in
creasing tho issue of United Stnfes notes
beyond The amount fixed by law, unless a
clear public exigepcy shall demand Il. lia
recommends, also, the organization Of bank
ing associations for the improvement Of the
public credit and for the supply to tho peo.
pie Of safe and uniform currency. And he
recommends no change In the laws provij.
ing for the negotiation of bonds, except tho
necessary increase Of amount. and the re-
peal Of the absolute restriction to market
value, and Of the causes authorizing conver.
tibiliiy at will. ..... .....
II Congress shall concur In these views,
the Secretary, though conscious ofthe great
difficulties which vast, sudden. and pro,ract-
ed expenditures impose upon him, ventures
to hope that he may still be able 10 main.
tain the public credit and provide for tho
public wants. .| .... .. ...
An assay Office or branch mint is recon-
mended in Nevada territory. .t.....,......
A change in weights, measures and coins
is recommended, and The report suggests
that the present demonstration Of gold may
well be nvailed Of for the purpose Of taking
Out th'oV ktNuh
ends. IL the half eagle OF tho Union be
made Of equ,l weight and fneness with the
gold sovereign Of Great Britain, no sensible
injury could possibly arise from the change;
while, on the resumption Of specie pay
men,s, its great advantages would be felt In
the equalization Of exchanges and the con.
venience OF commerce.
The operations OF the Coast Survey, tho
course OF trade with the insurgcnt States,
and the management Of contrabands on
plantations, are referred TO. ....
An assistant collector is recommended in
New York. The purchase Of the Exchange
is advised.
The demand for postage currency will
soon be met. The Secretary has contrsct-
ed for paper. and has authorized the prcpars-
iion OF small notes rs ,ihsti,u,cs for revenue
stamps, substantially like the small notes
now substituted for postage stamps, aud IN.
dulees the hope that results will commend
his action to the approval OF Congress, aud
that the necessary modification Of the pro-
visions relating To stamps and enguyings,
will receive It's sanction.
The Secretary refers TO the abors Of his
subordidates. and says that larger clerical
force Is demanded. lie suggests that su-
thoriiy be given him to appoint commission
ers to ex,mine aud audi, the claims Of the
several States now referred to that office for
seiilenent.
The bureau Of internal revenue has been
organized under the act Of last session, and
is now actively engaged IN the labors 40.
signed To IL. Collectors and assessors have
been appointed IN ell the districts of the 10y.
al States, and the revenue from the duties
imposed by the Law, is steadily and rapidly
increasing.