Memphis daily appeal. [volume] (Memphis, Tenn.) 1847-1886, 1862-12-13
BY M'CLANAHANI g. DILL,

Sweden, Austria, tss Netherlands, Italy, Rome
and the other European States, remain Undis-
tHrbed. Very favorable relations also continue
to be maintained with Turkey, Morocco, China
and japan.
During the last six years there has not only
been no change CT eur previeus relations With
the Independent States Of our own continent,
but more friendly sentiments than nave hereto
fore existed, and believed to be entertained by
these nsighbOrs, whose safety and progress. are
so intimately connected with our Own This
statement especially applies TO Mexico, Ncars-
gus. Costa Riea, Honduras, Psrs and Chill
The comuaifs ila under thu convention with
the Republic of New Granada clssed its session,
without having sEdited and passed upon al the
claims which we're submitted TO il. A PROPOSE
ton is peD6iRg to revive the convention that it
may be able to DO more complete Justice Tho
ieint commission between the United States and
the Republic Of Costa Rics has completed its
labors ana submitted it's report
have favored the project for connecting the
United States with Europe By an Atlantic tele-
graph, snd = similar project to extend the tale-
graph from San Francisco, 70 conneot by Pa
cifc telegraph with the line which is being
extended across the Russian Empire.
The territories Of the United States with uu-
importsut exceptions, have remained Bndis-
tUrbed by the civil war, and they are sxbibihng
sueh evidences Of prosperity aE IGstih.s aR sX-
pectatiOn that some Of them will soon be in a
condition 10 be organized as States, and BE- cor
stitutiopally admitted into the Federal Union
The immense mineral resources OF some sf
those Territories ought to be developed as rapid
ly as possible. Every step in that diroetioH
would have q tendency 10 improve the revenues
Of the government, aud dimiRish the burdens Of
the people. It is worthy of your serious con
siderstiOR whether some extraordinary measures
TO promote that cad cannot be adopted. The
means which suggests itself as most likely to be
effective, is scientific exploration Of ths miRs-
raj regions in those Territories, with a view ts
the publication sf Its results st hons and in
foreign ccuntries-results whish eannet fail TO
be auspieOus.
The condition of the finances will claim your
most dilgent consideration. The vast sxpendi-
lures incident to the military aAd naval opeTs-
tons required for the suppression Of the rebei-
lion, have hitherto beon met with prom r.Iiedo
and certainty uRusual in similar circumstance;
aud the public credit bas bson fuly maintaiasd.
The continuance of the war, bowevsr, ami the |
increased disbursements made necessary 5y tse !
f0Tcss. new in the Esld, demand |
yoHr best reflections as 10 the best modes Of pro-
vldiDg the necessary revenue, without iBjuTy TO /
bssiness, and with the least possible burdens
upon labor.
The suspension Of specie psyments By the 1
banks, soeR after thu commenesmeEt Of yeur |
last session, made large Issues Of United States |
notes unavoidable. Ia no other way could the !
payment Of the troops, and the Subtraction of |
other just demands be so economically or well |
provided for. The judicieus Legislation Of Con-
yress, securing the TeeeiVsbilisy Of taese notes 1
isT leans EHd internal duties and mekiug them |
IN universal currency has sati fed, par
lslly at Least, and for the time, the long felt l
rarsfo Of
hereby 70 the people immense sums il discounts
md exchanges.
A return to specie payments, hsweyer. at the
EARLIEST period compatible with due regard to all
interests concerned, shoald ever be kept in
7ieW. Fluctuations il the vslgS OF currency
Ire always iBjsrisss, and 10 reduce these fac
nations to the lowest possible point win always
le leading purpose in visa lsgisstons
JeHysrhbiliiy, pTOupt and certain cOniToveTti-
,ility into eOia, is Acknowledged TO be the best
md surest sEfeEaurs against thsmi aud it is
doubtful Whsthsr 3 circulation of Uai-
ed States notes, payabls in csiH, and sufficiently
arge for the wants Of the people, csA be per
nanensly, usefully and safely maintained.
l. shAra, taon, arl--oti.sF r1sd is, -,vhiol tbs
lecsssary previsi0n.ior the public wants can be
made, aud the great advantages Of q ssfs and
lHilorm currency sscure1i
1 know Of none which premises 50 certain re-
ults, and is, at the same time, 90 unohsstioA-
Isle, a. the Organization OF 7aRkiHE assseia-
ions, under general act Of Congress, we'll
yUarded in its provisieRs. Ts such associations
he government might furnish circulating notes,
IN the security Of the UHitsd SstsI bonds de-
1ositsd in the treasury. Thsss notes, prepqrsd
IRdsr the supervision of proper sfaesrs, ksing
lnifsrn in appearance and security, aEd cen
7eTtibls always int soiH, would st encs Prstsst
abSr against the evils of vicious ourrsHoy,
md facilitate eommsEos by cheap asd safe ex-
changes.
A moderate rossrvstioR from the interest en-
he bonds wsald compensate the United States
or the preparation aud distribution of tbs notes
ND general supervision sf the system, and
EoEld lghtsR the bErdsR Of that part Of he
,ublio debt employed as securities. TkS psbliS
,redit, mersoVsT, would be greatly inBTSYs&,
md the Rsgstatsn Of the lOsEE greatly fash.
atsd By the steady market demand for govern
asat bends which she adoption Of he proposed
ystsu would create.
It is an additional recommendation Of the
Of considerable weight, ia my iudg-
nsIit, tRat il would reconcile, as fag az peEaibls
II existing interests By the opportunity sffsrsd
. existing inEtitUtioHs to Te-orgsBiUs under tho
lct, substituting enly the secured unifsrz IA
iOnal circulation for the lOesand yariOEs eireu-
alton, secured and unsecured, aow issasd By
hem.
The receipts into the treasury fTsm all sources,
loans, sud balance from the prscsdiag
rear, for ths fseal year sading or the Both jane,
e62, were $5S3 685 2I7 06, Of which sum 94e,-
as S97 81 were derived ron eustoms; 81
'96, ,S5l 70 from the direct tax; frsm public
ands Sl52 2O3 II; from miscellaneous sources,
1891 ,7S7 "a; from leans in all forms, s529,-
80 400 so. The remainder, 81, PSI sos go, was
he balance from last year.
The disbursements during the same period
we're for congressional, executive and judicial |
,uTBoses. $5 939 0O9 % for foreign intercourse,
} $50 7l0 35 for miscellaneous expenses, ia
.luding the mints, loans, post ofics ds6eisucies,
lslsetiOn Of revenue, and other ike charges,
sI4, I'll so for expenses under the Interior
Department, S3, ,102 955 SO; under the War De-
,aTtment, 1884 365. .4O7 36 under the Navy De-
,artmsat S42 GA 500 50; for interest or public
lebt, Sl5, ,324 As; and for payment Of public
lebt, ineludiRg reimbursement Of temporary
osn and redemptions, so. .O9s a2e 90; nhki1Q
N aggregate Of $50, ,64l 200 y, and leaving a
balance in the treasury on the frst day Of July,
IS62, Of SIS, $40 81.
Ii shoUld be observed that the sum ef S96-
tl6 ,Sz7 90, expended for reinbursements and
exemption Of public debt being included also |
n the loans made, may be properly deducted |
both frem receipts and expenditures, leaving
ne actual receipts Tor the year S4S1 7SS, ,3s6 %, |
md the expenditures S473, ,744,77 IS.
Other information on the subject Of the
inaEeos will Is found in the report Of the Sscre-
ary Of the 1'resswyytO TO whoss statements and
news l invite your most candid and considerats
attention.
The reports Of the Secretaries of War aad Of
be Navy are herewith transmitted These re-
)orEs, though leugthy, are scarcely more than
,rief abstracts Of the yeTy npYsrous and ex-
ensive transactions and operations conducted
hroagh those departments: Nor could give
summary Of them here upon any principle
which would admit OF its being mueh shorter
han the reports thsnselvess | therefore con-
snt paySsf with laying the reports before you,
md sskhAg YOFT attention to them
II gives nle pleasure to report decided i'm
.~,,.,..rt - AZ auaneidI ooU,IftinE ef ths1