Ellsworth American. [volume] (Ellsworth, Me.) 1855-current, 1864-12-16

l ganized. A considerable number of then
were conversions from State Banks
Changes from the State system 70 tn
National system are rapidly taking place
and 1t Is hoped that very soon there vii
be in the United States no Bank of issu
not authorized by Congress, and no Banl
note in circulation not secured by tn
Government.
That the Government and people viii
derive great benefit from this change il
the banking system Of the country can b,
hardly questioned. The national system
will egeate reliable and permanent in
Haence in support of the national credit
and protect the people against loss in thu
use of paper money. Whether or no
any further legislation is advisable for tn,
suppression of State Bank issues it vii
be for Congress to determine.
1t seems quite clear that the Treasury
cannot be satisfactorily conducted unles,
the Government can exercise u restraining
power ever the bank note circulation Of
the country.
The report of the Secretary of War
and the accompanying documents, viii
detail the campaigns of the armies in the
field since the date of the last annual
message, and also the operations of the
several administrative bureaus for the
War Department during the last year.
1t will also specify the measures deemed
essential for tac national defence. and to
keep up and to supply the requisite mill.
tary force.
The report Of the Secretary of the
Navy presents comprehensive and salts
factory exhibition Of the affairs of tha,
Department, and of the Naval SERVICE
1t is subject OF fcongratulation and laud
ablcpriec to our countrymen, that q
Navy Of such vast proportions has beer
organized in SO brief a period, and con.
drctcd with SO much efficiency and sue
cess. The general exhibit of the Navy
including vessels under construction OF
the l>t day Of December, 1864, shows a
total OF e. | vessels, carrying 1910 guns
and CT 5lO,396 tons, being an actual in
crease during the year over and above al
,.a..als ~ C,,rs a.,,I - To- tan, ~
Tho totaI 6n,nber of men ,t th;s t;,,e
m tho naval sary;co inal,,d;n,, aa;cors
alont III aga T,,erc have h7cn c,3t,,rot
=. ia aa,r ,,,r;,,. 49, ,.oan 5t rsal ~
=. t,o' ,,'.',,n 1s,5bcr II naral c.,,t,rn. S'r,s
4:nro ba.;ilitiss con5,ancea 13-.t a.
ubi,b aG7 are steamers
TN, cross nro.sn l. ari.;n, fo,, tbo
ss,a IF eanIl,a1ol nr;zs .nro,-oyty ,bns f.
rs,,rts1 .,neast ta s1t 3qf o,0 ~ 4
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a..I,. as:a.ii,.,t;an and vet to h., ro,ort
~
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,f7t d. Gays bcea ca'Iaa into nxistenoc from
~, t,L g Nh 1871 - tba last =,
Wo,.rafor 1874 are e.1sS ol7ofo "a
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81 - +to v,r;a,,s rccommondst;ons of n,
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lf ;no,, ,,.,.s.1 al ~ ,aoh;,on,
pnI o armor Of our sbins to which rcfer.
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.aaI ~ = e,.n',,son -. of yon"Iotioo ;mnrove
4