Vermont watchman and State journal. [volume] (Montpelier, Vt.) 1836-1883, 1862-12-05

tender for other debts, has made them universal ourfen
cy and has satisfied partially al least and for the time
the long felt want Of an uniform circulating medium
saving thereby to the people immense in discounts
and exchanges
return to specie payments however, at the earliest
period compatible with due regard all interests should
yer be Kept In view Fluctuations Va the value u cur
ney are ai"ays injurious and to reduce these auc.ua
uohs 70 Tue lowest possible point will always be leading
purpose In wise legislation. Prompt aud certain
uDiy into coin is generally Acknowedse Jed 70 be the
best aud surest system and il Is extremely doubtful
whether circulation Of United States notes PAYABLE In
coin aud suh ,enty large for the Of the people,
can be permanently useful and safely maintained L.
hefe lhen, any other mode ia which the necessary pro-
vision ior the public wants can be made and the great
advantages Of safe uniform currency secured know
OF none which promises 80 certain fesut aud at The
same TINE 40 unohlrcti0nabe. the Organization VI
Oankins associations under general act u Congess,
wen guarded In its provisions To such associations the
government might furnish circulating notes on the Sc
cuny OF Oned states honda deposited 10 the treasury.
lhese notes, prepared under the supervision 0f proper
ohcers, being Uniform In appearance and security and
convertible always into coin, would protect labor
against the evils Of vicious currency aud facilitate com
hefce by cheap aud safe exchange moderate
toh hOn the interest on the bones would compensate the
United state lur the preparation and distribution Of the
notes aud general supervision " the system aud wiuld
hEhten The burden Of nNt part VI the public debt en-
ploycd as securities,
The public credit moreover would be greatly improved
and the egouaton Of the loans greatly facilitated
by The steady market demand fIr government bonds
Whch lhe adoption of he proposed system would create
t a 80 Aiduunal recommendation OF lhe measure, OF
considerable weight n my judgment, that 10 would re-
conc le far possible al existing Interests by the OPP
pouunity offered existing Institutions 90 rclrganze
upnal circulation for the local and various crculatons
secuted aud unsecured, now issuedby them
HE fcceptsiuto the treasury from an sources nclud
ins 'Ans and balance iom Che preceding year f2r the
hseal lear ending uc 80 OF June 1882 we're ej5i,
ssj ll7 Of which SiJ Jj6 395 % derived from
eus,on,i 81 7J5 33l rs irom The direct from public
lands 50 .2U3 73i from nisclanenua sesrces $751;
Ioi Ga from loaus iu al forms, $3.50 69l 400 SO The
remainder S2251 Co 81, was the balance from last
be disbursements during the same period we're f,r
Congressional Executive aud Judiciary purpo,e,,' g.,
sJ OBJ 30 for foreign Intercourse. 1889 no 81 for
ior miscellaneous expenses including the Mats loans,
Post Office dchcencies collection II revenue, and other
night cha ges sl4290l 30 Tor expenses under the In
terror Department, 50 l0!,soJ 81 under the War De-
pamcnt S3ji 36S 44 &c. under the Navy Depart pent,
stlh1i 56y 80 for interest the pub c debt l09.
31i 45 aud Tor the payment Of the public debt ncud-
ing reimbursement u temporary loans and redemptous.
s96 Oj6 w 0J-makng aggregate OF $40 oil100 2j
eud 'a'ng hhanec boo the treasury Oh the lst day VI
July, 1902, of el3 0iJ, SAG 81.
ishJuil be observed that the of SJ3 OBS g22 %
ended for reinbur. and fedciu pton OF the
public DEBT being included also n the loans made may
be properly deducted ga from the recrp,s aud eNpcud
lures leaving the actual feceps lnr thr year SiS71SS
5l4 % and expenditures Silil 7aS 10.
Other luiotmatou on the SUI ject of the finances will
be pund the report Of the Secretary OF the Treasury,
90 whose statement and veysl invite your most candid
aud cohsiderate attention.
The reports u he Secretaries Of the Navy aud War
herewith transmitted These reports IA ugh lengthy,
sgaIeclf than brief aO-tragts u the
Gus aud extensive Transactions and operations conducted
through these Departments nor could give summary
oi them here upon any principle which would admit Of
ITS being much shorter than the reports themselves
therefore, content myself with laying the reports be-
fore you. and asking your attention to them
POSTAL AFFAihs.
10 9vcs me pleasure % report decided improvement
ia The financial condition u tho Post Office Department
compared with several preceding years he receipts
Of he hscal year 100 amounted 70 - 3i)f96 80 which
emnrAccd the revenue from all the States Of the Union
f1r three qulrrtrs If That wear.
N9tN hstandng the cessation Of revcnue from the
called socedcd states during the lest fiscal year the IN
cretse VI the correspondence Of the loyal States mas
hrru sufficient CD produce rev Hnue during The
yeat ui sa,Sys so being only so O0 loss than was
derived from al the States ot the Union during the pre-
sluus year
Tue expenditures show still more favorable result
Ine amount expended iu 1861 was si86l61j n for
tht last year the amount has been reduced O. Sl,lZ5
ti 10 shosing decrease of about " 4il,u0J the
expenditure compared with the preceding year and OF
about g $50 700 compared with the fiscal year Of 1850
Inc aehccuci 100 the department for the previous year
Was ~ 53 9J6 49, for the last fiscal year reduced
60 e2ll2.slt ST. These favorable results IA part
OWING 90 the cessation " mail service in the iusurrec
u1uay States, and ia part 90 casual rcyirw Of all the
expenditure ia tnat department ia the interest Of econ0
my The efficiency of the postal service, % is believed
has also been much improved. The Post Master Cen
era also opened sponden through the depart
meut Of State With freign Governments, proposing
convention OF postal representatives for te purpose Of
n lns the rates OF foreign postage, aud TO expedite
the iuretsu nails.
hi. opposition, equally important 70 adopted cit
Aeu' anu 20 sue comi1ertai interests OF tns culutry
ha' 0etu irsotabf entertained aud agreed 90 by all the
governments from whom replies have been received.
a'S the attention N Congress 20 the suggestion Of
The Postmaster General To his report respecting the fur
hef legislation tquired in his opinion for the benefit
ot thg postal service.
public LANDS
The Secetary NJ the Interior reports follows In
cara 90 ihc public lands tn public land' have ceased
Oh 1e source = revenue. From the l,t OF July 1861
go enc 3jh September 1862 NE cnu'e cash receipts
from ihe sale Of lands were Sl31 415 26 sum much
less fue of during
same period The Homestead law, which will take ef
ter 49, the t OF January next offers such inducements
cXieut slih ent % meet the expenses uf tue General
Land Oiee aud tne cost OF surveying and bringing the
land into market
90, discrepancy between the sum hcre stated as ars
uS from the sales oft the public lands, and The dee
lived from he source reported FROM ne Treasury De-
ptfneut arse- 80 understand from the fact that the
gitnt az the beginning points lhs Treasury iep0rt
gudr- Considerable sum uoN which had previously been
fr7ited hU the Interior, sufficiently large go greatly
l reach The sum derived fro The three moaih.
ep1r'rd loa bytns iniedor and not b. tue Treasury
INDfAN APFAGRs
lht Indian Tubes upon frouucrs have, daring the
Has ear manifested spirit Of insubordaauon. aud a.
several points ave engaged no open h0siiltcs against
IL white setllements ia their vicinity.
The 'Tibes occupying the Indian country South Of
Kansas renounoed their allegiance 20 the United states
and entered into treaties with the nsurgenls Those who
-cma ed loyal tu the United Suie, Wcre driven from
me euuniry The chi NJ The Chetoktes hos visited
inns ciy i che pafpose n restoring The former relations
li the tribe with TIE United states tie ALLEGES that
h. were constrained by superior f'ree u enter into
treaties viii ih insurgents aud mat ihe JIe Safes
rccd 90 furnish the protection which their tteay
,ull ttls required ln the month of August last the
SIOUX indians 100 Minnesota kod She seul uleuts
hrir Nculy Nlth extreme fefocity, ktiug idscrimi-
lateif iueu, fumeu aud children. luis Al.4ak wuo
y ua'Np eced and therefore mean. of defence had
b Ella pioNil d. IL Is estimated that less than $40
PERSONS we've kiled by the Indians and large Of
lwprty destroyed How this outbreak Was in-
iuc-d NOT dchuatJy known, aud suspicious which may
be- unjust need not 90 be stated. Information
eiyeu by the ludian nom different about
attack be made upon the white setttiuc Is by all
he tribes between the Mississippi river and he Rocky
doantuius. The State q Minnesota has suffered great
nJufy from thus Indian large portion uf her ter
ury has been depopuated and severe loss has been
ustunfj By the distraction OF property The people Of
hat stale manifest mach anxiety for the Al VI the
ilpc5 beyond the limits Of tle state, guarantee
gainst future hostlliirs The Com missioner Of ludian
Affairs wall furnish iull details.
submit for your SIP cal consideration whether our
indian system shall not be remudeied. Many wise and
ed men impressed with the belief that this be-
irohauy dome 1 submit statement OF the proceed
ugs " tAe Commissioners, which shnWs the progress
hat has beeu made 10 the enterprise Of constructing ihe
'a'hc railroad, aud this suggests the earliest completion
ii hc road aud also the favorable acton Of Congress
ipuu the projects pending before them oi cuarghg
De capacities OF the great canals IA New YORK and l
lus being Of vital and rapidly increasing Importance
the whole nation aud especially to The interor
non hereinafter be notced greater length,
propose having prepared and LAID before you al early
lay interesting and valuable statistical Information
ipon this subject
INTERNAL IMPROVEMENTS.
The military ami eomnyIcal Importance Of enlarging