Fremont journal. [volume] (Fremont, Sandusky County [Ohio]) 1853-1866, 1862-12-05

these territories ought to be developedas rapid
ly as possible.
Every step in that direction would have
tendency to improvothe revcnueso Of the govern
meut, and dimlhiah the burdens d the people
Il IL worthy of your serious considefation
whether Hoino extraordinary measures to pro.
more that end cannot be adopted. Tho measufa
which suggests itself as mos likely TO be eifec-
| tive is scientific exploration Of the mineral 70
| gious 10 these territories with view to the pub
lication Of its results at home and in foreign
countries; results which cannot fail to be nus
picions.
THE FfSAScEs.
/ The condition Of the finances will claim your
most dilligent consideration. The vast expen-
ditures, incident to the military and naval oper-
iations required for the suppression Of tlIe re-
lbellion, have hitherto heen met with prompts
tude and certainty unusual in similar cireun-
I, istances, and the public credit has been fully
maintained. The continuanee Of the war how
/, ever, and the increased disbursements made nee
essary, demand your best reflections as to the
best modes of providing the necessary revenue,
: without injury to business, and with the least
!, possible burdens upon labor The suspension
. Of specie payment by tho banks made large is
sues Of U. States notes unavoidable In 10 9TH
Ter way could the payment of the troops and the
satisfaction Of other jus, demands be so econoin-
ieally well provided for. The judicious
Legislation Of Congress securing the receiva-
bility Of these notes sir loans aud internal du-
tics, and making them a legal tender for other
+ debts, has made them universal currency. and
has satised-partially, at least and for the time
: the long felt want Of uniform circulating
1 medium, saving thereby TO the people immense
sums in discount and exchange.
A return to specie payments, however, at the
earliest period compatible with due regard 10
ali info hfsk kof,ft vi
tuations in the value of currency always in
liurious, and to reduce these fluctuations to the
, lowest possible point, will always be leading
/, purpose in wise Legislation. Prompt and cer-
tain c0nvertibility into coin is generally ae-
knowledged to be the best protection against
them, and it is extremely doubtful whether a
q circulation of United States notes, payable in
coin and sufficiently large for the wants Of the
/ people, can DO permanently usefully and safely
maintained Is there any other mode in which
tho necessary provision for the public wants can
be made, aud the great advantages Of a safe and
uniform currency secured? j know of none
(which promises SO certain results, and at the
same time 80 unobiectionable, as the organiza-
Iion of banking associations under general acl
: of Congress, well guarded in its provisions.
n To such associations the Government might
5 furnish circulating notes on the security of Uni-
e ted States bonds, deposited in the treasury
: These notes, prepared under the supervision of
/, proper ohceIs' Deihg uniorm IN appearance ana
urlty ano eonYeI1lole alWays III com, wouio
cious currency and facilitate commerce by cheap
D and safe exchange. A moderate reservation
+ from the interest the bonds would compensate
the United States for the preparation and dis
trioution OF the notes ana general supervisor
Oh the system, ana Wouiu ilghten tne ourden ol
a tnat portion OIL Tue puol'c oeot employed as Sc
: curry.
j me p1Oi'c cIeul', ! l1ureoyeI! woule oe greatly
HhPI1seu, ana tne hegotla''Oh OF new loahs
grea5Iy lac'll'ated oy 1he s,eaay market demand
i, ipr 0overnr'ent PONDS whIch tne adoption 9l
tne me P'oPoseo y y'eIi Wou'u c,eave' IL is an au-
ui,.o,'ai ., we ,peasure OF con
"eisnt III my n,en,, .iiae y wouIu
1ecohcie as lar as possible, an exstng interests
~ .'e oppor'u.y o1erea 70 eA'S.g i,s,'u
tons 70 uhoer the acI,
on'y 'Ie UNIFORM haonai clfeuldtloii ior the 10
I cai a,u 'I,'oas ctcuiaslons secured ana uhse-
! eu'e'' NJ" iaSue" W 'iie'"
; CONDITION OF THE TREASURY.
The receipts into the Treasury from all sour
ices, including loans and balances from the pre-
; ceeding year, for the fiscal year ending on the
, Both Of June, 1861 were $685., 3,SS5247 Sc, OF
which sum $l905s,397 62 were derived from
nnl l,%ds 20 oaS ~ TN
sources sq3I xsq "a. fro,, Ioans H. III ero,
$500 6g2 AGO so. The remainder so57 osS 70
: was tho balance from last vaar
The d;sbursements dur;ne tho s,n,o ro,;,,1
we're. For Congressional Eysc,,t;ve and JnJ;l
lc;al nnrnoses * 73g 0O0 90. for Goroi,n ME-
lconrse kI o3e 7Io AZ eor n,;sceilonaoas
incfnd;ng Ito ,n;,ts lnans ,,',st ,,.,;oa 5es
lcieneies' collection Of reyenne and otbe, ILL.,
: CHARGES Sl1 100 III 5o O'''S' i'N'
: For expenses under the Interior Department
"a 4o7 az. under tbe NaSv npnart,on5t @oS5 20
674, $50 69 for interest on the public debt. sI3-
100, ,424 As; and for the payment of the public
iscludg mt mrs men to loan
gregate ra Of s59o III 90o S5 snJ ~ ari sn a
ance in the Treasury on Il the I Ist day Of july
1862, Of f$I3,O43446sl. 1t should be observed
lih1t the sum OF Ss0.996,s2S 69, expended for re-
be;nn ;noindsJ NJ m aa on ., I,e Puons de1t
properly deducted both from the receipts and nd
Expenditure leaving the actual receipts for the
year iSa3 ~, eeScs2S q w. and the expenditures
oiber IN iorna,;on ma on tho suh.c. os fn,nao.
viii be given in the report of he secretary d
the Treasury, to whose statements and views !
ihV'e your candid aud con''derate attention.
THE NAVY AND TUE ARMY
The reports of the Secretary of the Navy and
Wa War are herewith transmitted. These reports
Of ths yery 1 ,uoie nS sts Drier ex
actions and operations conducted through these
Departments. Nor could give summary o
them here upon any principle which would adj
Z IN " ,'S Oe'HS i,i"0" siiDi1eS uhah the report