Columbia Democrat and Bloomsburg general advertiser. [volume] (Bloomsburg, Pa.) 1850-1866, 1862-12-13

cy, and has satisfied partially at least, and
tor the time, the long. felt want of an uni.
form circulating medium, saving thereby to
the people immense sums in discounts and
exchanges.
A return to specie payments, however, ut
the earliest period compatible with due re.
gard to ali the interests concerned, should
ever be kept in view. Fluctuations in the
value OF currency are always injurious, and
TO reduce these fluctuations to the lowest
possible point will always be a leading pur.
pose in wise legislation. Convertibiity,
prompt and certain convcrtibility into coin,
is generally acknowledged to be the best and
surest safeguard against them and it is ex.
tremely doubtful whether a circulation Of
United States notes, payable in coin, and
sufficiently large for the wants of the people,
can be permanently, usefully aud safely
maintained. Is there, them any other mode
10 which the necessary provision for the pub
Tic wants can be made, and the great ad.
vantages Of a safe and uniform currency SO.
! cured?
BANKING ASSOCIATIONS PROPOSED
know Of none which promises such GER.
tain results, and is at ths same time so uu-
Objectionable, as the organization Of Bank
! lug Associations under general Act of Con-
gress, we'll guarded N its provisions. To
snch Associations the Government might
furnish circulating notes OF the security OF
United States bonds deposited in the Treas
ury. These notes, prepared under the su-
! pervision of proper officers, being uniform
! III appearance and security and convertible
always into coin would, at once protect Ia
| Dor against the evils of vicieus currency,
and facilitate commerce by cheap and safe
! exchanges a moderate reservation from the
interest On the bonds would compensate the
United States for the preparation and dis
tiibution of the notes and a general super
vision of the system, and would tighten lhe
bnrden of that part of the public debt en-
! poyed as securities. The public credit,
moreover, would be greatly improved and
the negotiation of new loans greatly facilita-
ted by the steady market demand for Govern
ment bonds which the adoption Of the pro-
I posed system would create
1t is an additional recommendation OF the
measure, of considerable weight, in my
judgement, that il would reconcile, as far as
possible, all existing interests by the oppor.
tunity offered to existing institutions to re-
organize under the act, substituting only
the secured, uniform national circulation,
for the local and various irculatiop, secured
and insecured now issued by them.
TREASURY RECEIPTS AND EXPENDITURES.
The receipts into the Treasury from all
sources, including loans and the balance
from the preceding year, for the fiscal year
ending on the 30th Of June, 1862, were
! SjS3,SSj 247 ,OG; of which sum $i9,056,.
397 go were deriyed from Customs, 81 ,79j-
33l,13 from tho direct tax +; from Pub
lie lands, Sl52,203,77; from miscellaneous
sources, S93l 7S7 ,64: from loans 10 all forms
Sj29, 460,50. The remainder, $2,2S7,-
06j,SO, was the balance from last year.
The disbursements during the same peri
cd were For Congression.
al Executive and Judicial
purposes $500, ,oO9, 90,
| For foreign intercourse 1889, ,7l0,35
I For miscellaneous expenses
(including the mnts, loans
Post Office deficiencies,
collection of revenue and
other like charge-) II, 80
Expenses under the Interior
Department 3,1O2, oS5,52
! Under the War Department 394 36S, 4O7 SO
Under the Navy Department 42,G74, 4,569,G9
For interest on the Hublic
debt 13,l9O, ,32l, ,45
For payment of the public
debt, including the REIN.
bursement of the Temporal
ry loan and redemptions 9G,O96, ,022, 90
Making an aggregate of S5T0,S4l, 100 %
| Ana leaving "A balance in the Treasury on
the LIST day of July, 1862, of Sl3, OF, ,j46, 81.
1t should be observed that the sum oiS06,-
| 09G, ,922, 90 expended for the reimbursement
and redemption Of the public debt, being
included also in the loans made, may be
properly deducted both from the receipts
and expenditures leaving the actual receipts
for the year, S4S7 ,7SS.324,97, and the ex-
penditures, S+14,744,7SS, l6,
Other information on the subject Of the
finances will be found in the Report of the
! Secretary af the Treasury, to whose state.
ments and views | invite your most candid
and considerate attention.
The reports of the Secretaries Of War aud
Of the Navy are herewith transmitted. These
reports though lengthy, are scarcely more
than brief abstracts Of the very numerous
and extensive transactions and operations
conducted through those Departments
Nor could | give summary of them here
upon any principle which would admit of it
being much shorter than the reports them
selves. therefore content myself with lay
ing the reports before you, and asking your
attention to them.
POST OFFICE DEPARTMENT.
1t gives me pleasure to report decided
improvement in the financial condition Of
the Post Office Department.
As compared with several preceding
years. the receipts for the fiscal year 1861
amounted to So, ,349, 296, 40, which embraced
the revenue from all the States of the Union
for three quarters of that year.
Notwithstanding the cessation Of revenue
from the so>caled Seceeded States dnring
the last fiscal year, the increase of the oor>
respondence of the Loyal States has been
sufficient to produce revenue during the
same year of S., ,299, $50, 90, being only S5O,-
600 less than was derived from all the
States of the Union during the previous
year, The expenditures show still more
favorable result The amount expended in
1861 was $4,000, 1891
For the last year the amount has been res
duced to Sll l25, ,3G4, l3, showing decrease
of about 80, iSl, 900 in the expenditures as
compared with the preceding year, and
about S3,7j0000 as compared with the fs-
cal year 1860.
The deficiency IN the Department for the