Prescott journal. [volume] (Prescott, Wis.) 1861-1871, 1863-12-19

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ut all illiberal to International TRADE and
commerce.
THE TREASURY DEPARTMENT.
The operations of the Treasury De-
partmcnt during the last year have been
successfully conducted. The enactment
by Congress of a national banking law
has proved valuable support of the
public credit, and the general legislation
in relation to loans has fully answered
the expectation of its trainers. Some
amendments may be required to perfect
existing laws, but no change in their
principles or general scope is believed to
be needed.
Since these measures hive been in OPP
Grafton, all demands on the Treasury
touching the pay of the army and navy
have been promptly met and fully salts,
fed. No considerable body Of troops, it
is believed, were ever more amply provi-
ded, and more literally and punctualy
paid, and It NAV be added that by no
people were the burdens incidental to a
great war ever more cheerfully borne.
RECEIPTS.
The receipts during the year from all
sources, including loans and balance in
the Treasury at its commencement
were 1901, 1864 Sc. The aggre-
gate Disbursement $995,796, $4,000, ieav-
ing q balance on the 7th of July 1868,
of So. 329,044 81.
OF the receipts there were derived
from customs-569, 059, 1920; from
Internal revenue $37, 740,7S7 1876; from
direct taxes $l4,s5l ,036l; from lands
$l6.76l, III; from miscellaneous sourc-
es 1904, 661, 535; and from loans $780,
6S2.36l.57, making the aggregate
s9Ol, l25, 674.S6.
DISBURSEMENTS.
OF the disbursements there were
1892, 1922 for pensions, &C.; $4,2l6,
520,59 for interest on public debt; $780,
929,S6O So for the Navy Department;
1 $63.2ll,l O5,27 for payment Of funded
and ten porary debt; $lSl,0S6,635 OF !;
making aggregate of $895.756,63O,6
and leaving Alliance of 1882 ,9O4, 42l.
But the payment of the funded and
temporary debt, having been made from
monies borrowed during the year, must
be regarded as merely nominal pay
ment, and the monies borrowed to make
them rs merely nominal receipts; and
the actual amonnt of 81 sos, 663, SOY,
should therefore be deducted both from
the receipts and disbursements. This
being done, there remains as actual e.
ceipts, STA, 7O9, 995,6s, leaving bal
ance as already stated.
The actual receipts and disbursements
for the first quarter and the estimated
receipts and disbursements for the re-
naming three quarters of the current
fiscal year of 1864, will be shown in de-
tail by lho report of the Secretary of
the Treasury, to which | invite your at
tention. 1t is sufficient to say here that
it is not believed that the actual results
will exhibit state of the finances less
favorable to the country than the esti-
mates of that officer heretofore submit
ted, while it is confidently expected that
at the close of the year both dsburse-
ments and debts will be found very con
siderably less than has heen anticlpa-
Ceu.
THE WAR DEPARTMENT.
The report of the Secretary of War is
q document of great interest. 1t con
sists of
Ist. The military operations of the
year, as detailed in the report of the
(ieneral-in Chief.
2nd. The organization Of eolored
persons into the war service.
Sd. Exchange of prisoners, fully set
forth in the letter of Gen. Hitchcock.
4lh. Operations under the act for en-
rolling AMI calling out the national forces,
detailed in the report of the Provost
Marshal General.
9Th. The organization of the Invalid
Cords; and
9th. The operations of the several
departments of the Quartermaster Cen
eral, Commissary General, Paymaster
General, Chief of Engineers, Chief of
Ordnance, and Surgeon General.
1t has appeared impossible to make a
summary of this report, except such as
would be too extensive for this message,
and hence ! content myself in referring
your attention TO tie report itself.
rHE NAVY DEPARTMENT.
Tie duties devolving our naval branch
of service during the year, and through
out the whole of this unhappy contest,
have been discharged with fidelity and
great success. The extensive blockade
has been constantly increasing in efiicien-
cy, as the navy has expanded. Yet, in
SO short time, it has so far been impos-
sible to entirely suppress illegal trade.
From the returns received at the Ma
w Department it appears that more than
one thousand vessels have been captured
since the blockade was instituted, and
that the value of prizes already sent in
for adjudication amount to over 3d.
600 600.
The naval force of the United States
NJ this time consists of $50 vessels COM
pleted and in course Of completion, and
of these rs are iron-clad armored steam
ers. The events of the war give an in
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