Ashtabula weekly telegraph. [volume] (Ashtabula, Ohio) 1853-1873, 1864-12-10


OF that stream in It's prescnt fa.laess, and
to that end the government must In every
way make II manifest that II nei'her wishes
nor designs to impose iDvluntary military
service upon those who come from other
lands to cast their lot in our country.
OUR FINANCES.
The financial affairs of the Government
have been successfully administered during
the past year. The legislation Of the last
session Of Congress has bene6cially affect.
ed the revenue, although sufficient time
has not yet elapsed to experience the full
effect OF several Of the provisions OF the
Acts Of Congress imposing increased taxa
lion. The receipts during the year from
oil sources, upon the basis Of warrants sign.
ed by the Secretary Of the Treasury, in.
cluding the loans aud the balance in the
Treasury on the first day Of July, eighteen
hundred and six,y-.hrce were 81 .394 1885,
007 90, and the aggregate disbursements
upon the same basis, were 5 ,298, ,056, l0l.-
80, leaving a balance in the Treasury, as
shown by warrants. OF $95. .T39 905.13.
Deduct from these amounts the amount Of
the principal of the Public Debt redeemed
and the amount Of issues in substitutes
therefore and the actual cash operations of
the Treasury were Receipts $S94.076,-
GAG II Disbursements. $S65 1884 ,OS7 sc,
which lenves a cash balance in the Treas.
ury OF $lS,842. sos IL. OF tue receip S
there were derived from Customs $l02,.
3l6.l62 90 From Lands $5SS, 383 30
From Direct Taxes $415,64 sc From
The Internal Revenue, 500 74I, l34 10.
From miscellaneous. sources Sal. S. | 443,
10, and from loans applied to actual ey2en,
ditures, iD,ludng former balance, $685.,
443 929.l3 There were dsbu. sed .or the
civil service $21, sos, ,59S.46. For Pen
sions and Indians $1,5l1. $50 81. For
the War Department $607. 9ls, ,429.7O.-
For the Navy Department $S5 1888 .292.
10. For Interest Of the public debt $685..
6S5, ,426 80, making an aggregate of $685.,
234. .0S7 sc. and leaving q balance in the
treasury OF SIS. .S42. sos II, as before stat
ed. For the actual receipts and di,burse.
ments for the q st qrarter and the estimat.
ed receipts and disbursements for the three
remaining quarters of the current fiscal
year and the general operations of the
Treasury in detail, refer you to the re
port of the Secretary of the Treasury.
l concur with him in the opinion that
, tbe proportion of the monies required TO
meet the exI enses consequent upon the
: war derived from taxation. should be still
further increased, and l earnestly invite
your attention TO this suhjrct. to the end
that there9may be such additional Legisla-
lion as shall be required to meet the Just
expectiuns Of the Secretary.
PrfAR loans.
Tie public debt Oh he first day of July
last, as appears by the books of the Teas
ury, amounted TO one billion, seven hun.
dred aud forty thousand millions, ak huu.
dred aud ninety thousand, four hundred
and eighty nine dollars and forty nine cents.
Probably should the war continue for
another year, that amount may be ucreas.
ed, by not far from FIVE hundred millions.
Held as it is for the most part by our own
people, it has become a subslan ial branch
of nstional, though private property. Fur
obvious reasons, the more nearly this prop.
erty can be distributed among oil the peo
pile the better; to favor s0ch general distri-
button, greater inducements to become
owners, might perhaps, with good cffec,
and withou, inquiry, lie presented o persons
Of limited means With this view | sug-
gost whe;her it might not be 10th expedi-
ent and competent for Cong ess to provide,
that limited amount of some future issue
o. public securities might be held by any
bona fee purchase, exempt from taxa OF
aud from SC zure for debt, under snch re-
stricti,ns and limitations as night te
necessary to guard against be abuse Of so
important privilege. This would enable
prudent persons TO set aside q small annuity |
against a possible day of want.
Privileges Ike hcse would render the
possession Of such s: securities 10 the amount
limited, most desirable to persons of small
MEANS who m ght he able TO save enough
for the purpose. The great adantage Of
citizens being creditor as well as debtors,
with relation TO the public debt is obvious.
Men readily perceive that they cannot he
much oppressed by debt which they owe
to themselves. The public debt on the
first day Of July last. although somew hat
Exceeding the s'imate Of the Secretary. Of
the Treasury, made TO Congress at the
commencement of the last session, fell
short of the estimate of that off GER, made
in the preceding December. as TO its proba-
be amount at be beginning Of this year,
by the sum of $3.995.079 33 This taci
exhibits a satisfactory condition aud con
duct Of lhe operations of The Treasury.
NATIONAL BASKI
Th, National Banking system is prov.
ing to be acceptable TO capitalist and TO
thu people. On the l5'h Of November
FIVE hundred aud eighty four National
Banks had been organized, q considerable
number of whic. were conversions from
Safe Bauks. Changes from the S ate
system 10 the National system, are rapidly
taking place, and it is hoped. iha, yery
soon, Z here will be in The Uni'ed States,
no bank OF issue not unauthorized by Con
gress, and no bank note circulation not
secured by the Government. That the
Government and the people will derive
geJe'sl benefit from this change in the
banking systeT, can scarcely be question
ed. The National system will create
reliable and permanent influence in sup
port OF the National credit, and protect
the people against losses in the use OF pa
per money. Whether or not, any farther