The Kenosha telegraph. [volume] (Kenosha, Wis.) 1860-1888, 1864-12-08
And leaving a balance in
the Treasury, as before
stated of.

For the actual receipts and disbursements
Tor the tirst quarter, and the estimated re
celpts ap.I disbursements for the three re-
nalEllng quarters of the current fiscal year
old the general operations of the Treasury
in detail, refer you to the report of the Sec
rotary OF the Treasury | concur with him
IN the opinion, that the proportion of the
monies required to meet the expenses conse-
quent upon the war derived from taxation,
should be still further increased, and ear
nestly invite your attention to this subject
to the end that there may be such addition
al legislation as shall be required to meet
the just expectations of the Secretary. The
public debt on the LIST day of July last, as
appears by the books of the Treasury, amour
ted to 81, TAO, $50, 4S9, 40. Probably should
the war continue for another year, that
amount may be increased by not far from
| five hundred millions. Held as it is, for the
most part by our own people, it has become
substantially branch of national, though
private property. For obvious reasons the
more nearly this property can be distributed
among all the people the better. To favor
such general distribution, greater induce
ments to become owners, might perhaps
with good effect aud without injury, be pre-
|
this view | suggest whether it might not be
both expedient and competent for Congress
to provide that a limited amount of some flu
ture issue of public securities might be held
by any bona tide purchaser, exempt from
taxation and seizure for debt, under such re-
strictions and limitation as might be neces-
sary to guard against abuse of so important
privilege. This would enable prudent per-
sons to set aside a small annuity against
possible day of possible want. Privilege
like these would render the possession of Sc
curities to the amount limited most desira-
BILE to every person Of small means who
might be able to save enough for this pur-
lpose. E.s .f' r.
The great advantage Of citizens being cred
itors as well as debtors, with relation to the
public debt is obvious, Men readily perceive
that they cannot be much oppressed by a
debt which they owe to themselves. 5G
The public debt on the LIST day of July
last although somewhat exceeding the es-
Innate of the Secretary of the Treasury made
to Congress at the commencement of the
last session, falls short of the estimate that
that officer made in the preceding December
as to its probable amount at the beginning
of this year by the sum of $399, 607, 988.
This fact exhibits a, satisfactory condition
and conduct of the Treasury.
/ The National Banking system is proving
to be acceptable to capitalists and the peo-
Iple. On the 18th of November 5S4 Nation
al Banks bad been organized,a considerable
number OF which We're conversions from
State Banks, Changes from the State sys-
tenn to the National system are rapidly tax
ing place. 1t is hoped that very soon there
will be IN the United States no bank of issue
not authorized by Congress- and no bank
note circulation not secured by Government.
That the Government and people will derive
a general benefit from this change in the
banking system of the country can hardly
be questioned. The National system will
create reliable aud permanent influence in
support OF the National credit, and protect
the people against losses by the use of paper
money. Whether or not any further legis-
lation is advisable for the suppression OF
State Bank issues, it will be for Congress to
determine 1t seems quite clear that the
Treasury cannot be satisfactorily conducted
unless Government can exercise restrain
ing power over the bank note circulation of
the country.
The condition of the border will necessa-
rily come into consideration in connection
with the question Of continuing or modify
lingtthe rights of transit from Canada through
;. the United States, as well as the regulation
OF imports which were temporarily esta blish-
by the Reciprocity Treaty of the 9Th of June
1854. l desire, however, to be understood
while making this statement, that tie colo
NAL authorities are not deemed to be inten
tionally unjust or unfriendIy towards the
| tata Into +lo
every reason to expect that with the APPROX
al OF the imperial government, they will
take the necessary measures to prevent new
lncurslons across the border.
The act passed at the last session for the
encouragement of emigration has, as far as
was possible, been put iuto operation. 1t
seems toleed an amendment, which will en-
able the officers Of the government to pre-
vent the practice Of frauds against the emf
grants, While on their way aud on their ar
rival III the ports, so as to secure them here
a free choice of ,avocations and places of set
Element. A liberal disposition towards
this great national policy is manifested by
most of the European States and ought to
be reciprocated on our part by giving the
immigrants effective national protection
L regard our enlgrapts as one of the princi-
pal replenIshlng streams which are appoint
ed by Providence to repair the ravages of
internal war, and it's wastes of national
strength and health All that is necessary
IS to receive the flow of that stream in its
present fulness, and to that end the govern
ment must IN every way make it manifest
that 1T neither needs or designs to impress
involuntary military service upon those who
come from other lands to cast their lot in
our country.
The report Of the Secretary of War, and
the accompanying documents will detail the
campaign OF The armies In the field since the
date of The last annual message, and also
the operations OF the several administrative
bureaus of the War Department. during the
last year. 1t will also specify the measures
deemed essential for the national defense,
and to keep and supplythe requisite militia.
ry force .....,..
The report of the Secretary of the Navy
presents comprehensive and satisfactory
exhibit of the affairs of that departments and
of the naval service 1t is subject Of con
graduation and laudable pride to our coun-
trymen that navy Of such vast proportions
has been organized in SO brief period. and
conducted with 50 much efficiency and
success. The general exhibit of the navy
including vessels under construction on the
lst OF December, 1864, shows total of GIL
vessels, carrying 1,6l0 guns and of $40 500
tons burthen, being an actual increase du-
ring the year, over and above all losses by
shipwreck or in battle, of SO vessels. 1877
guns and of 4, 427, tons burthen The to-
tai number Of men at this time in the naval
service including officers, is about 81 600.
There have been captured by the navy
during the year 324 vessels, and the whole
number Of naval captures since hostiities
commenced is l, 800 of which 127 are steam
ers. The gross proceeds arising from the
sale of condemned prize property, thus far
reported amounts to $143, 926, 25O.51. A