New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1862-12-02

itnres incident to the military ana naval OF
oretior, roquired for the suppression Of the
Psbellion have hitherto been met with prompti-
nde and certainty unusual III similar circumstances,
and the public credit has been fully maintained.
The continuance of the war, however and the in-
creased disbursements made necessary by the aug
Ineuted forces now in the field demand your best
reflections as 10 the best modes Of providing the ne
cssssry revenues without injury to Business and with
the Least possible burdens upon labor The suspension
of specie payments by the banks soon after the
commencement of your last session made large issuos
OF United States notes unavoidable. in 10 other
way could The payment of the troope and the salts
faction of other lust demands, be 20 economically or
a. well provided for. The jadicious legislation of
Congress securing the receivabllty Of these notes
for loans ana internal duties, aud MAILING them
"leyal tender" for other debts, has made them
universal currency, ana has saiished partially at
least ana for the me, the long-ielt want OF an UNI
i0Tm circulating medium saving thereby TO the
people immense sums in discounts and exchanges.
4 return % specie PAYMENTS however, at me
earliest period compatible with due regard to all
interests should ever be kept in view.
! Fluctuations in the value Of currency are always
| Injurious, aud TO reduce ;hese fluctuations TO the
lowest POS Oie poin. VIII always be leading puf-
/ pose IN Wise legislation.
! ConveItibiity. prompt and certain, oOuycr;ibiy
into CON- is generally Acknowledged to be he test
aud s.Tcst afcguarG against them, and Is extremely
doubtful whether II circulation OF United States
]
wants of tae teope, can 70 permans ntly, use,uly,
and safely m1luteined Ia there, then, any other
mode ia which the necessary provision Tor lie pub
lie watts can he made, aid the great advantages oi
| 2 safe and uniform currency securedf
know OF mono which promises 80 certain results,
and 10 the same sine uno lecilOnaOle, IS the or
ueriLatiou Of banking Associations Uuder general
act ii Cougress, well guarded in Its provisions 10
such associations, the Government; might iuinlsh CIR
culgtiug notes on Ito security OF United States
4 ,rfr Ia f1rso p
pared under TIE supervision OF proper officers, Icing
Uniform in appearance and rc>uriiy, ana convertible
aWays INFO CON- would NJ once protect labor against
rue evils OF vicious currency, AID iacili-
late commerce By cheap and safe exchanges.
A mode, ate reservation from tho interest
on tie bonds would compensate the
United states Tor the preparltio and distrlbu-
ton OF tie notes, and q general supervision OF the
system, and would tighten the burden OF that past
o! the public debt employed as securities. The pub
Ii, credlt, moreover would be greatly improved, and
ale Negotiations OF loans greatly facilitated hy
the s,eady maikes demand for Government bonds
which the adoption OF the proposed system would
create.
IL 10 an additional recommendation Of the measure,
/ Of considerable weight IN my judgment, tbat II
would reconcile far possible a.. existing inter-
eats by the opportunity offered TO existing institu
iols 10 reOrganize under the act, substituting only
he secured uniform national circulation for he local
aud various circulation, secured and unsecured now
Issued BY them.
The receiuts into the Treasury from al sources,
including loans and balance from the preceding
year, Tor tue fiscal year ending on he JJtA
OF June, 1862, were Sj>}, $50 ~ %, Of which sum
$40 05G 1871 o. were derived from customs $I19J,-
81 q from the direct tax; from puOhc lands, sJy,-
4O3 Il; from miscellaneous sources SyI, ~ 81;
rom loans in all 1Orns, So, Nv ~. The IT,
maincer 5 2j1 ,UOJ 80 was the balance from las,
year. The disbursements daring Tie fame PERIOD
were: For Congressional, Executive and Judiciai
= IA 4. furt arsllFf
- 35J.1I0 50; for misco!ItueO eXl,nses, IL
Guiding the MINIS. Loans Post-Ofice dchuencies,
collection Of revenue and other like charge r.
III %; 1or excuses under the Interior Department
S3,lO293J 81; under the War Department, $jJI-
So 4U7 SO; under the Navy Department si2,tll-
y696 for interest Oh the public debt, SlJ, N,32i
IS and for tie payment Of tie public debt including
reimbursement Of temporary loans aud radempuons,
$40 0JU, - U9, making al aggregate OF SJ'Joil.-
zoo %, ard leaving q balance in lie Treasury on tue
LIST day Of July, 1862, OF $l3Oi3 5l6 Il. IL should
re observed that the sun OF S.o,Vl6,"22 %, e.
pended for iembGrsemenis and redemption u
lie public debt, being included ALEC IN the
loans made, may be properly deducted both
from the receipts and expeda-es, leaving The actual
receipts for the year $lS7 -, "a ~ and the ex
} peudtHres Sf4,Ta4,7oo 10. OthsT Information on
the subject u tie fuaHces will be found IN the Re-
port OF the Secretary Of tie Treasury, 70 whose
statements ana views invite your rOst candid Apd
considerable attention.
TIE Repor.s Of tie Secretaries Of tie Navy
and War are herewith transmitted. These Re-
ports, though lengthy, are scarcely more than
Dlief abstracts of.the very' Numerous and eX-
tensiye ;uIsaCtiOns and operations cOlupctea
through these Departments, nor could give SUM
mary OF them here upon any principle which would
admit o. It's being much shorter Than the Reports
themselves. / therefore content mytet VIII laying
the Reports before you am asking your attention TO
them.
1t pivos me pleasure to report decided improve
nlent in the financial condition OF tbs Post-
Office Department as compared with several
breeding years. The recsIp;s Tor TIE fiscal
year 1851 amounted 10 SS,3y&6 49, which en-
lrlced the revenue from al the StG'es Of the Union
for three-quAriers OF that year. Notwithstanding
tie cessation II revenue from Tie so-clet Seeded
States during the last fiscal year, tie increase II the
correspondence OF tie loyal States hos been sufficient
10 produce revenue during the same yeeE 81 o..
$3.50 So being only $J9,O0O iefs tian was derived
from all the State q the Union during the previous
wear. Tie expenditure show 6tll n Cre favorable
result. Inc amount eXI AIDED IN 1861 WAS 5 3 0Jt,-
7Jy II. For the lat year TIE amount has been re-
duoed to $lll25,&i -, showing decrease
Of ab0u. g. i6l 80 IN the expenditure
a. compared with the preceding year, and about
75060J rs compared with the fiscal year 1860.
lie deficiency in the Department ior the previous
year was 81 SOL 9CG 49, For the last fscal gear il
was reduced 20 $2,ll2,Si 81. These favorable
results are, in part, owing to the CESSATION
OF mail service IN tie insuueclon.
ary States, and IN part TO ea-ual
review Of all expenditures in that Department, -
the interest of economy. The efficiency Of The Postal
service il is believed has also been much improved.
Tie POstmaster-G General also opened q couesDOnd-
ence, through the Department Of tate, witn foreign
Governments, proposing convention Of Postal Rep
resentatiyes for tie purpose Of simplifying ihe rates
Of foreign postage and TO expedite the foreign mails.
Ills proposition, equally important TO our adopted
citizens and 20 the commercial interesis OF Ills couD-
try has been fayorab entertained aud agreed ~ by
~ the Governments fIom whom replies have been
received. / ask the attention Of Congress 20 the
suggestions Of the postmssegG General ID biz Report
respecting the further legislation required, IL bis