Democrat and sentinel. [volume] (Ebensburg, Pa.) 1853-1866, 1862-12-10

of United States notes, pay able in coin. ard
sufficiently large for the wants Ui the people,
can be pernIanantiy, usefuliy and safely
maintained.
Is there. thCn, any other mode in which
the necessary prUvisI n for the public wants
can he made, and the great advantages Of a
uniform currency secured
know of none which promises so GER
tain results. and Is at the same time -
uuol.irctiouable, as the organization OF
banking associations. uu Ter - general act
Uf Congress. well gUarded in Its provisions.
To such aSsociatI0 lis the gnv rnment might
furnish circulating notes. on the security "f
Uuitrf States hom.is deposited iii the treas
ury- These nmcs. prepared under the
supervision If proper fiiceIS, heiu% uniform
ia appearance and security, and cunvsIta
bie always INTO con-, would a. once protect
labor against the evil, uf u vicious currency.
and iaci lta,e commerce by cheap and sale
exchanges.
y moderate reservation from the inter
est Oh the bonds wUul COM Ieusate tie
United States E'r the rrrparatiU and Gis
tTihUi;"u uf the nuIcs. and g.-nerai super
vision of the system, and would tighten the
burden Of that part Of the public debt EN-
pruyed as securities. The public credit.
moreover, would be greatly improved. and
the negotiation of uew loans greatly iacih-
tatvd lay the steady market demand Zoe
government bonds which tie adoption Of
the proposed system would create.
Il l. an atii;Inal recommendation of the
measure. ,f considerable weight in my
judgement, that it Hoiid reconcile. as LEI
.,s I.". ib.e a.. existing interests, hy the OPP
l"riUuity '!i,Te,l t. existing Institutions I"
TerT.liiIZc under the act, substituting only
tie secured Ubif,lm natIuIiai Gil Cuiati"n. f,r
the local and various circulation. secuted
and unsecured. ROW issued 10y them
The receipts into the Treasury from all
sources. including luars. aud balance from
the precee,iing year, FIR the ti-cai y'ar end
img on the 3Uth "i June. lsG2. were 5S3,-
SIS, Pa C6 of which sum $40 -O56. .39s 62
were derived from customs Si,195.33l. 10
from the direct tax ; fr.m public lands,
.l52 =03 II; from miscellaneous sources,
/ S9JI.7S7 "a from leans III Al! forms i529.-
Gg2. 500 so The remainder. S2,2jI .OJj-
! 50. WAS the balance fran last year.
! Tie disbursements during tile sane period
: were for cuugrc>>i"nai. executive and judi
cial purposes $3.50 80; fr fIeigI-
( intercourse. 81 .3S9.I 10 30 ia uis ce'laneuuS
; expenses. Including the InIuts, lUIns, post
ulfice deficiencies. collection of revenues.
and other like charges, sli.I29,77l 80 ;
/ for expenses under the IIteTiur Bcpai tmen'
/ S., loo $50 So: uu,.cr the War Depart
ment. S94 ,SG8 ,407 IS; lacr She Navy.
/ Department, e42.67I.5 .569 90 fr the in'er
,.st on the public debt, SIS. 1875. .324 40 and
fpr payEeH. Il puui!c debt. inc ntiDg re-
I imbur>men:s ui Temporary luaus anA re
le.nnti ns. 500 G9G .922 O9 making an ag-
-rc..a;e ur So. 0 .o4l 200 y. and leaving 4
balance IN the treasury ou the first day Ui
July. 1862. Of Sl3 .043 SOC 81.
1t sI,nIsd be observed that the sum O.
S96, ,OGG 922 90. expended for reimburse
meuts au,i redemption "f public debt, being
included also in the loans made, may b'
properly deiucte,i both from receipts ait
expenditures. leaving the actual receipts tll
the vear k487. .7S8 324 81, and the expendi
lures Si7474i,7T8 l6.
Other irfrmation on the subject Of finan
ces will be found i'll the report Of the Secre
taFy Of tie Treasury, to those statement
and views invite your most candid ans
. coTsiderate attention.
The reports "f the Secretaries of War
and If the Navy. are hcrewith transmitted
these reports. though lengthy, are Scarcei.
, more ;han brief abstracts et the very nu
meruIs and extensive transactions aud Ol'er
atiuns conducted through th"se depart
men,s. Nor could give a summary Il
them here, upon any priucip!c, winch wUui'
: admit of its being much shorter than th
reports themselves. | therefore cont EN-
myself with laying the reports bei9re you
, and asking your att ntiun to them.
1t lives me pleasure to report decide
a IMPROVEMENT in the financial cJn htlon %
the Post Office Department. aS compares
/ with several preceding vars. The RECEIPT
= f,r the fiscal year 1861 amounted to -
$40 29G 30. which embraced the rcvenu
; from all the States of the Union for thre
Quarters "f that -ear. Notwithstanding III
q cessation Of revenue from the so-caiied -
c, ded Stat, during the last Fl cal year. ii
q increase of tie cnrres sp"ncence ui the I"y'
II States las been sufficient tn rr'duce reV'
{ nue. during the same Year "t SS.2S9- $50 "
ID, being only $50. ZOO less than was derive
- from all the States e the Union during Il
q previous year. The expenditures show a I'll
-. more. favorable result. The amount expel
"a, ded in 1851 WAS Sl3. 500, ,I59 H. For Il
g last wear II e amount has leen reduced
s.l.l25 364 I3. shaving 4 decrease
~, about S24Sl O0G in tie expenditures
r. compared with the fiscal year 1850. Il
10 Deficiency in the Department for the prev
e ous wear was S. So -966 90. For tie Ia
% fiscal wear il was reduced TO 81, ll2.S
81.
NJ These favorable results are in part owl
- IN tb,. cessation of mail service in the inst
or rectinnarv States and in part to careful
ne view of all expenditures in that departing
IN in the interest of economy The eficieI
,s- of The postal service. it is believed. has a
y. been much improved. The Postmaster G'
- .raI has also opened correspondent
IN through the Department OF State, "
80 foreign governments. proposing cCu,'