Weekly Trinity journal. [volume] (Weaverville, Calif.) 1857-1972, 1864-12-17
NUMBER 40.

|
cent assaults and depredations, committed by
inimical and desperate persons who are har-
bored there, it has been thought proper to give
notice that, after the expiration of six months
the period conditionally stipulated in the exist
| ing arrangements with Great Britain-the United
States must hold themselves at liberty to in
crease their naval armament on the lakes if they
shall find that proceeding necessary. The con-
diton of the border will necessarily come into
consideration in connection with the question of
continuing or modifying the rights of transit
from Canada through the United States, as well
as the regulations of exports which were tempo
rarily established by the Reciprocity Treaty of
| the 9Th of June, 1854. | desire, however, to be
understood while making this statement, that
the colonial authorities not deemed to be in
tentionally unjust or unfriendly toward the
United States but, on the contrary, there is
every reason to expect that, with the approval of
the Imperial Government they will take the
essary measures to prevent new incursons across
| the border.
| The Act passed at the last session for the
couragement of emf grafton has, as far as posi-
HE, been put into operation. 1t seems to need
amendment which will enable the officers of the
Government to prevent the practice of frauds
against emigrants while their way and on
| their arrival in port, to secure them here q
fair choice of avocations and place of settlement.
A liberal disposition toward this great national
policy is manifested by most of the European
States, and ought to be reciprocated on our part
by giving the emgrants effective national pro-
lection. l regard emigration one of the
principal replenishing streams which are ap-
pointed by Providence to repair the ravages of
| internal war and its wastes of national strength
| and health. All that is necessary is to secure
the flow of that stream in its present fullness,
and to that end the Government must in every
way make it manifest that it neither needs nor
designs to impose involuntary military service
upon those who come from other lands to cast
their lot in country.
| THE FINANCES.
The financial affairs of the Government have
been successfully administered during the last
year. The legislation of the last session of Con-
gress has benefcially affected the revenue, al
though sufficient time has not yet elapsed to ex-
perence the full effects of several of the provi-
sions of the Acts of Congress imposing increased
taxation. The receipts during the year from all
sources, upon the basis of warrants signed by
the Secretary of the Treasury, including loans
and the balance in the treasury on the first day
of July, 1868, 81 1894, 796, 007 62 the ag-
gregate disbursements upon the same basis were
81 ,2SS, 05S, l0l 80; leaving balance in the
treasury, as shown by the warrants, of $780,
1871 ,905 49, Deduct from this amount of public
debt redeemed and the amount of issue in sub
stitution therefor, aad the actual cash operations
of the treasury were Receipts 1884 ,0G6, GAG II;
disbursements, 1865 ,234 ,OS7 Sc which leaves
balance in the Treasury of SIS, S42, 558 81. Of
the receipts there derived from customs,
! SlO2 3l6 1872 90 from the lands, $685., 1888 20;
from direct tax, SAT 1854, ss6 from internal
revenue, 500, TAI ,l34 10; from miscellaneous
sources, $47, 81 ,4l2 To- and from the loans
applied to actual expenditures, including the
former balance, 1923 ,443, 929 l3. There were
dsbursed for civil services, $27 500. 500 46 for
pensions and Indians, S7,5l7, $50 81 for the
! Dana NAVY
partment, $S5 733, 292 10 for the interest of the
public debt, $50 6s5 ,42l 60 4; making aggre-
gate of $S62 233, 092 76 and leaving balance
in the treasury of Sls ,s42 $50 81, as before stat
ed. For the actual receipts and disbursements
for the first quarter and the estimated receipts
and disbursements for the three remaining quar-
tiers of the current fiscal year. and the general
operations of the treasury in detail, refer you
| to the report of the Secretary of the Treasury.
| | concur with him in the opinion that the pro-
portion of moneys required to meet the expenses
consequent upon the war derived from taxation,
should be still further increased, and earnestly
invite your attention to this subject to the end
that there may be such additional legislation
shall be required to meet the just expectations
of the Secretary. The public debt, the first
day of July last as appears by the books of the
treasury, amounted to 81, 749, $50 ,489 40. Prob
ably should the war continue for another year.
that amount may be increased by not far from
$500, 900 900. Held for the most part by
own people, it has become a substantial branch
of national, though private, property. For OBJ
vious reasons the more nearly this property can
be distributed among all the people the better.
To favor such general distribution greater in
ducements to become owners might, perhaps,
with good effect, and without injury be present
ed to persons OF limited means. With this view,
| suggest that if it might be both expedent
and convenient for Congress to provide limited
amount of some future issues public securities,
which might be held by any bona fde purchaser,
exempt from taxation and from seizure for debt,
under such restrictions and limitations as might
be necessary to guard against the abuse OF SO
important privilege. This would enable pru-
dent persons to set aside small annuity against
possible day of want Privileges like these
would render the possession of such securities,
TO the amount limited, most desirable to every
person of small means who might be able to save
enough for the purpose. The great advantage
of citizens being creditors as well as debtors
with relation to the public debt is obvious Men
readily perceive that they cannot be much OPP
pressed by a debt which they own themseives-
The pubiic debt on the first Of January last,
although somewhat exceeding the estimate of
the Secretary of the Treasury made to Congress
at the commencement of last session, falls short
of the estimate of that officer made in the pre-
ceding December as to its probable amount at
the beginning of this year, by the sum of 49,
995, O79 80. This fact exhibits satisfactory
condition and conduct of the operations Of the
treasury The National Banking system is prov
ing to be acceptable to capitalists and the people,
On the 25th of November five hundred and eigh-
ty-four national banks had been organized,
considerable number of which were conversions
from State banks. Changes from the State sys-
tenn to the national system rapidly taking
place. and it is hoped that very there will
| be in the United States no bank of issue not au-
thorized by Congress, and no bank notes in cir
culation not secured by Government bonds
That the Government and the people will derive
general benefit from this change in the banking
system of the country hardly be questioned
The national system will create reliable and
permanent influence in support of the national
credit and protect the people against losses in
the use of paper money. Whether or not any
further legislation is advisable for the suppression
of State bank issues, it will be for Congress to
determine. 1t seems quite clear that the treas
ury cannot be satisfactorily conducted unless
the Government can exercise restraining power
over the bank note circulation of the country