Holmes County farmer. [volume] (Millersburg, Ohio) 1857-1926, 1862-12-11

reservation from the interest on the bonds
would compensate the United States for
the preparation and distribution Of the
notes, and general supervision Of the
system, and would tighten the burden Of
that part Of the public debt employed ms
security. The public credit, moreover,
would be greatly improved, aud the nego-
tiation of new loans greatly facilitated by
the steady market demand for government
bonds, which the adoption Of the propos
ed system would create.
1t is an additional recommendation Of
the measure Of considerable weight in my
judgement that it would reconcile, rs far
as possible, all existing interests by the
opportunity offered to existing institutions
to rc.organize under the act substituting
only the secured, uniform national circu-
lation for the local and various crcula.
tons, secured and unsecured, now issued
by them.
The receipts into the Treasury from all
sources. including loans and balance from
the preceding year for the fiscal year end.
ing on the 3Oth of June, 1862, were $685.
SS5,247 sc, Of which sum $40, ,397 so
were derived from customs; Sl,105,-
33l 73 from the direct tax; from public
lands $l52,2O3 II; from miscellaneous
scources, So31,7S7 GA; from loans in all
forms $500, 400 so. The remainder,
$2,257,O65 so, was the balance from last
year.
The disbursements during the same
period were: For Congressional, Execut-
i've and Judicial purposes $5,o39,009 30;
for foreign intercourse 81 ,339,7l0 50 for
miscellaneous expenses including mints,
loans, postofiice deficiencies, collection of
revenue and other charges $l4,120,-
III so; for expenses under the Interior
Department $3,lO2,0S5 so; under the
War Department, 1894, ,3GS,407 Sc; under
the Navy Department $42,G74,5S9 60;
for interest on public debt $780,.
324 45, and for the payment Of the pub
lie debt, including reimbursement of tenn
porary loan and redemptons SoG,ooG,
922 co. making an aggregate Of S57o,
s41,70o %, and leaving balance in The
Treasury on the fist day of July, 1862, o
Sl3,O43,44 81. 1t should be observed
that the sum of 500, COG, 922 90, expended
for reimbursements 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 veal
s4S7,7eS.324 81, and the expenditure,
S474,744,7SS 16. Other information or
the subject of the finances will be found it
the report Of the Secretary Of the Treasury
to whose statement and views invite you
most candid and considerate attention.
DEPARTMENT REPORTS.
, The reports of the Secretaries of th,
Navy and War are herewith Transmitted
These report, though lengthy, are scarcel,
= more than brief extracts of the very nu
merous and extensive transactions ant
operations conducted through these de
partmcnts. Nor could give summary
of 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 you attention to them
1t gives me pleasure to report decided
improvement in the financial condition O
; the Postoflice Department, as compared
!, with the several preceding years. The re
y ccipts for the fiscal year 1861, amounted
y to sS,340,206 40, which embraced the
revenue from all the States Of the Union
; for three quarters of that year. Notwi.h
standing the cessation of revenue from the
so called Confederate States during the
last fiscal year, the increase Of the CORE,
spondence of the loyal States has been
sufficient to produce a revenue during tho
, same year, Of SS,209,620 90, being only
$4,000 less than was derived from al
the States of The Union during the previ
, Gus year.
, The expenditures show n still more
, favorable result. The amount expended
in 1861 WAS $l3,G06,7O9 IL. For the
last year the amount has been reduced tC
$ll,l25,3G4 l3, showing a decrease o
, about S2,4Sl 900 90 in the expenditures
, as compared with the preceding year, and
about $3,750,000 as compared with the
year of 1860. The deficiency in the De
: parlment for the previous year was S4,55l,
, 966 9S. For the last fiscal year it was
reduced to S2,ll2,Sl4 81. These favor
| able results are in part owing to the cessa
r ton of mail service in the insurrection
ary States, and in part to careful re
, view Of all expenditures in the Department
;. in the interest Of economy.
: The efficiency Of the postal service, it j:
r believed, has also been much improved
! The Postmaster General also opened g
, correspondence through the Department
/. of State with foreign governments, pro
Q posing convention of postal representa-
+ lives, for the purpose of simplifying Tho
: rates Of foreign postage and to expedite
!. the foreign mails. This proposition
t equally important to our adopted citizens
. and to the commercial interests of this
r county, has been lavorably entertained
6 and agreed to by all the governments from
: whom replies have been received. | asl
! the attention Of Congress to the sugges
G tion of the Postmaster General, in his re
I port respecting the further legislation re
+ quired, in his opinion, for the benefit o
/ the postal service.
$ The Secretary of the Interior reports a.
# follows in regard TO public lands; The
d public lands have ceased to be source o
= revenue. From the lst of July, 1861, &c
y the 30th of September, 1862, the enlilo
cash receipts from the sale Of public lands