The Bedford gazette. [volume] (Bedford, Pa.) 1805-current, 1862-12-12


improved and the negotiation Of new loans geaf
ly facilitated by the steady market demand fol
government bonds, which the adoption of fhs
proposed system would create. 1t is an adj
tional recommendation of the measure Of con.
siderable weight in my judgment that wopld
reconcile, as far as possible, all existing inter.
ests by the opportunity offered to existing insti.
tutions to reorganize under the act, substituting
only the secured uniform national circulation
for the local and various circulation, secured
and unsecured, now issued by them
The receipts into fhe treasury from all sonr-
ces, including loans, and balance from the pre-
ceding year, for the fiscal year ending on tIe
3Oth of june, 1862, were $582, 885,247 05,lof
which sum $40, 9,056,397 62 were derived fran
customs 81, 1881 ~ from the direct tax
from public lands, Sl52, 203 II; from INSECT
laneous sources 1891, 1856 "a; from loans 10 all
forms, $529,602, AGO so. The remainder, s2,
52T,065 so, was the balance from last year
The disbursements during the same period
were: For Congressional, Executive and Judi.
cial purposes, S5,939,009 20; for foreign ID
tercourse, $I,339,7IO So; for miscellaneous
expenses, including the mints, loans, post office
deficiencies collection of revenue, and other
like charges, $l5, ,l29,77l so; for expenses IN.
der the Interior Department, So, 102,985 52;
under the War Department, $780,, 1868, ,407 8;
under the Navy Department, $42, GA ,569 60;
for interest on the debt, Sl3, 190,324 45; and
for the payment of the public debt, including
reimbursement of temporary loan and redenat
tions, $96,096,922 SO; making an aggregate
of $50, ,841, 700 25, and leaving balance il
the Treasury on the lst of July, 1862, of $f5.-
043,546 81. 1t should be observed that the
sum of 96,096,992 90, expended for tein-
bursement and redemption of the publicdebt
being included also in the loans made, nay be
properly deducted both from the receipts and
expenditures, leaving the actual receipts TOR the
year, $4S7, ,7S8,324 81, and the expenditures
$474, 744,788 16. Other information on The
subject of the finances will be found in the re-
port of the Secretary of the Treasury, towhose
statements and views / invite your most candid
and consideratc attention.
The reports of the Secretaries of the Navy
and War are herewith transmitted Thea re-
ports, though lengthy, are certainly nothing
more than brief abstracts of the very numdous
and extensive transactions and operations ipn-
Quoted through these departments. Nor caald
give any summary of them here upon hny
principle which would admit Of ;.--'- Z : pIrere-
10 re content myself with laying the reports be-
fore you and asking your attention = .lon'; -,
It Gives me nleasn-- report decidcd I'M
provement iu the financial condition Of the Post
Office Department as compared with several
preceding years. The receipts of the fiscal year
1851, amounted to $3.50, ,296 40, which EN-
praced the revenue from all the States of the
Union for threc-quarters of that year, notwith-
standing the cessation of revenues from the So
called seeding States during the last fiscal year
The increase of the correspondence OF the loyal
states has been sufficient to produce revenue
during the same year of $780, $50 80, being
only $5O,OO0 less than was derived from all the
States of the Union during the previous year.
The expenditures show a still more favorable
result The amount expended in 1861, was
Sl3, 3,606,759 IL. For the last year the amount
has been reduced to &l1, ,125,364 43, showing
a decrease Of about 81, ,48l 900 in the expendf-
lures as compared with the preceding year, a.
bout So, 100000 as compared with the fiscal
year, 1861. The deficiency in tie department
for the previous year was S4,551, 1866 9S. For
the last fiscal year it was reduced to ~, l12,-
SI4 58. These favorable results are in part
owing to the cessation of mail service in the in
states, and in part to careful re-
view of the expenditures in that department, in
the interest of economy. The efficiency of the
postal service, it is believed, has also been much
The Postmaster General also opened cor
r,..spondence, through the Department of State,
with foreign governments, proposing conven-
tiun of postal representatives, for the purpose
of simplifying the rates of foreign postage, and
TO expedite the foreign mails. This proposition,
equally i'm, ortant to our adopted citizens and
to the commercial Interests of this country, has
been fayorably entertained am, agreed 10 by alt
the governments from whom replies have beeil
received. ask the attention Of Congress to
the suggestions OF the Postmaster General, in
his report, as to the further legislation required,
in his opinion, for the benefit Of the postal SER
vic,.
The Secretary of the Interior reports as fol-
lows in regard to the public lands: The pub
lie lands have ceased to be source OF revenue.
From the LIST of July, 1861, to the 30th OF
September, 1862, the entire cash receipts from
the sale of lands were 81 ,476 26, a sum much
less than the expense of our land system du-
ring the same period. The Homestead law,
which will take effect en- the lst of January
next, offers such inducements to settlers that
sales for cash cannot be expected to an extent
sufficient to meet the expense of the general land
office, and the cost of surveying and bringing
land into market. The discrepancy between the
sum here stated as arising from the sales OF the
public lands and the sum derived from the same
source as reported from the Treasury Depart
ment, arises, as understand, from the fact that
the periods of time, though apparently, were
not really coineident at the beginning points,
the Treasury report including considerable
sum now which had previously been reported
from the Interior sufficiently large as greatly to
everreach the sum derived from the three months
now reported upon by the Interior, and not by
the Treasury. '1t :"