Marshall County Republican. (Plymouth, Ind.) 1856-1878, 1864-12-15

from internal revenue; Sl09.74I, 1874 To-
from miscellaneous sources, SAT oil, l43.
10; and from loans applied to actual ex-
penditures including former balance, 1923.
443 .929.13. There were disbursed for the
civil service. S27 sos. 500 46; for pensions
and Indians. S7.5l7. .93097: for the War
Department. SEQ. .791. S42. 81; for the Ma
Wy Department, $50. 733. 292. 20: for inter-
est on public debt. S53 .6S5. All. l.69-ma.
king an aggregate Of SS65. .234 0S7 sc. and
leaving balance in the Treasury of SIS,
/ $40. 558.7l. as before stated.
For the actual receipts and disburse-
ments for the lirst quarter. and estimated
receipts and disbursements for the three
remaining quarters of the cnrrent fiscal
year. anrl the general operations of the
Treasury in detail | refer you to the report
of the Secretary of the Treasury. | con-
cur with him in the opinion that the pro.
portion of the moneys required to meet the
expenses consequent upon the war derived
from taxation should be still further in
creased, ana earnestly invite your atten-
iion to this subject. to the end that there
may be such additional legislation as shall
be required to meet the just expectations
of the Secretary.
TIE PCBLIc DEBT.
The public debt on the first day Of July
last, as appears by the books of the Treas
ury. amounted to S1.749, 600 .4S9 49.-
Probably. should the war continue anoth-
er year. that amount may be increased by
4, Ii =,
il. for the most part by our own people.
il has become a substantial branch Of Ma
tional though private property. For OBJ
vious reasons. the more nearly this prop.
crty can be distributed among all the peo-
pie the better. To favor such a general
distribution, greater inducements to be-
come owners might. perhaps. with good
effect and without injury be presented to
persons of limited means. With this view
suggest whei her il might not be both ex
peiient and competent for Congress TO
provide that q limited amount Of some fu-
ture issues of public securities might Le
held by any bona fde purchaser exempt
from taxation, from seizure for debt, un-
der such restrictions and limitations as
might be necessary to gnard against abu>e
OF so important a privilege. This would
enable prudent persons to set aside a small
annuity against possible day of want
Privileges like these would render the pos
session OF such securities. to the amount
limited, most desirable 10 every person OF
small means who might be able to save
enough for the purpose. The great sdvan-
tage of citizens beng creditors as well as
dehtors. with relation to the public dent. &.
is obvious. Men readily perceive that
they cannot be much oppressed 10y debt
which they owe themselves.
The public debt. Oh the lst day OF July
! last. although somewhat exceeding the es-
timates OF the Secretary Of the Treasury,
made to Congress at the commencement of
las, session. falls short of the estimate of
that officer made in the preceding Decem-
Der. a. to It's probable amount at the be-
ginning Of this year. by the sum of SO.
995, ,0I9 33. This fact EXHIBITS satisiac-
tory condition and condact Of the opera
tions OF the Treasury.
THE NATIONAL BANK SYSTEM.
The Rational Banking system is proving
10 be acceptable 10 capitalists and to the
people. On the 25rh of November. five
hundred and eighty. tour National Banks
had been organized. 4 considerable mum
ber of which were conversions from State
Banks. Changes from the State system
to the National system are rapidly taking
place, and it is hopsd that very soon there
will be in the United States no bank OF
i-sne not authorized by Congress. and no
hank note eli icuation not secured by the
Government. That the Government and
the people will derive general benefit from
this change in the banking systems of the
country. can hardly be questioned The
National system will create reliable and
permanent influence in support OF the ma
tiunal credit, and protect the people
against losses in the Use OF paper money.
Whether or not any further legislation is
advisable Tor the suppression OF the State
Bank issues. it will be for Congress to de-
terAiine. /. seems quite clear that the
Treasury cannot he satisfactorily conduct
| ed unless the Government can exercise a
restraining power over the bank note cir
culstion of the country.
THE WAR DEPARTMENT.
The report OF the Secretary of War and
the accompanying documents. will detail
! the campaigns of the armies in the field
since the date of The last annual message.
AMI also the operations Of the several ad
minis,rative bureaus of the War Depart
ment during The las, year. 1t will also
I specify the measures deemed essential for
the national defense, and to keep up and
supply the requisite military force.
THE NAVY.
The report Of the Secretary Of the Navy
presents u comprehensive and satisfactory
EXHIBIT Of the affairs Of that Department,
and OF the naval service. 1t is q snhjec,
OF congratnlation and laudable pride to ouI
conntrymen. that Navy of such vast pro.
portions has been organized in so brief 9
period, and conducted with SO much eff.
cheney and success. The general exhbi,
of the Navy. inclnding vessels under con-
struction on tho first of December, 1864
shows a total of Gil vessels. carrying f..
Clio guns. and $40 496 tons, being an &C.
tual increase during the year, over and
above all losses. by shipwreck or in battle
Of SO vessels. 167 guns. aud ~. .457 tons
The total number -os men at this time in