Fremont journal. [volume] (Fremont, Sandusky County [Ohio]) 1853-1866, 1863-01-23

From washington.
Washington, Jan. ls.--The current error that
payments TO the army have been suspended,
need correction Nearly S9,00000O has been
paid within the last ten days, aud the payments
Of yesterday exceed 81, 100000. The payments
are all made under the law passed AZ the last ses
sion. The Joint resolution authorizing an addi-
tiona issue Of United States Treasury Notes on
ly reached the President yesterday, and cannot,
be signed and rctured TO the House before Mon
day
Washington, Jan. l9.
Mr.. Jones' resolution, authorizing the issue
OF 800 000, 900 in United States notes, became
law to-day. Upon learning that fact, the Sec
retary Of the Treasury Immediately placed to
the credit Of the several pay masters an aggregate
amount sufficient to pay the whole army and
navy Of the United States. Fifty-three pay mas
ters have been supplied with sums ranging
from $57O00to $715,000. This last named
amount was sent TO Charles @. Larned, Louis.
Vile KY, 1852, 900 10 San Francisco, $250,000
to Indianapolis, $250,000 TO st. Paul. and $780,
900 TO Kansas. Tho remainder was furnished
to paymasters present There was paid for the
navy $3e6,9O0.
10 The Senate and House Of Representatives.
have signed the joint resolution to provide
for the immediate payment of The army and ma
w Of the U. s., passed by the House on the 18th
luton is a simple authority, amounting howev-
er, under the existing circumstances, 10 direc-
tion to the Secretary of the Treasury TO make an
additional issue of $l00,000000 U. s. notes, if
SO much money is needed for the payment Of the
army and navy. My approval is given in order
that every proper facility may be afforded for the
prompt discharge of all arrears of pay due our
soldiers and sailors. While giving this approx
al. however, think il my duty express my sim
cere regret that it has been found necessary 10
authorize SO large an additional issue of u s..
notes. when this circulation and that of the sus-
pended banks together have become already SC
redundant as to Increase prices beyond their real
value, thereby augumenting the cost Of living
for the injury of labor and the cost of supplies
TO the injury of the whole country. 1t seems
very plain that the continued issue of IT, S.
notes without any check to the suspended banks
and without adequate provision for the raising
of money by loans and for funding the issue SO
as to keep them within the limits. must soon
produce disastrous consequences This matter
appears TO me 40 important that / feel bound to
avail myself of the occasion to ask the special at
tention of Congress TO it. That Congress has
the power to regulate the currency of the coun-
try can hardly admit Of doubt and that Judi
cious measure to prevent the deterioration OF
this currency by a reasonable taxation of bank
circulation, or otherwise is needed, seems equal
ly clear. Independent of this general consider
oNiOhi ~ ouAu SSSi -" WV SofAN - 20
to exempt banks enjoying the special privilege
of circulation from their Just proportion OF the
public burdens. In order to raise money, by
way OF loans most easily ana dcheaply, IL IS clear
ly necessary to give every possible support to
the public credit to that enc and uniform cur
rency IN when taxes SUBSCRIPTIONS 10 loans
and all other ordinary public debts may be paid
is almost, II not quite Indispensable;
Such currency may be furnished by banking
associations authorized under general act ol
Congre%s, as suggested IN my message at the De-
p'.hing OF the present session. ne securing OF
this circulation by pledge OF United States
bonds as herein suggested, would still iurthei
facilitate loans by increasing the present and
causing future demand Tor such bonds. III
view ofthe actual financial embarrassments o.
the Government and OF the greater embarrass'
ments sure to come, u the necessary means o.
relief is not Afforded teel that should not per-
form my duty by sImple announcement my
| approval OF the JOINT resolution when proposes
relief only by increasing the circulation With
out ei W ,hosa h..a ;,,s' r"t, roTarroJ -
sucl III si "..,ia Js c,'',',os
Inay iGeei'e ~ Wy y, ,.;,.; - iii o,.,,,
py sucn ~ 10y a, o,I,s - ,to ar,,
oe mos. ce,.a.iiy s1.Le .l t Nv. oy -, of ~
1ho navy, ouI 10 M .ne none'' c, y. ~
SoVerhuloh. ahu s'''iS'aSI"tT Pso,Is'0"' "'"u'
Tor future demands on me 1IessuTy;
i1AN 00hN
WASHINGTON, January u
Rear Admiral Leo has forwarded to the Navy
Department report from Lieutenant Gushing
dated Beaufort N. O., January sth, detailing th'
particulars OF a reconnaissance near Fort Canvill'
on Little River, with only 70 men.
While proceeding up the river they were firet
upon by the rebels from bluff on the left bank
Landing and forming, without firing, they cam
in sight of fort and campfire, whereupon the,
made bayOnet charge Lieut.. Gushing judginl
that the enemy were ignorant of his force.
the iort' our men gong OVER one slde as the re 2
| oOi" SSe"Pe t'AS O'''N''