Washington standard. [volume] (Olympia, Wash. Territory) 1860-1921, 1864-12-17

stated fsr the a--uzi rr-esys- .na d.
hur~.rasclst, f.,r rhc fri q&ariSr, and the e.
tirua,~I r,c-Sps- and dl-i-sr-~sB~H;s Sc sse
threr rrI4slnIs- xEaTf-r- 4 the earEs@i r.
cal vcar ard tn -euersl eT&-zfiaas 4 the
Treasury N s.t.sl f.s,r ssz q tie r,-r,s-s
4 ,he >.-rrvssry e tn Tres~z-y GA
car srfk ksm N sh~ s.f.'u'aa thai the rrs-p-r-
s,eu & Ess-sey r'-tair'-i g. rsrri the exy~E
- e..a-s,gsru, SPA tts w.r. d~rIve3 fra
taxatis.n. slss.,ij - -;Iii further Iscrsz~ri.
anl | earn--fly ratI,- t..a- affen:isa ts''fhi-
-zb3,--t. = fhe cd ta2f tkrFr a.sy le sach
.ilitls.l.al 5s--s-ists..n -h-l II rs-guirci
Q. Asr-s Ia Ja-t eKf--ttzfs-u- & tssr >rcgC-
tarv Ia pai-!ie @els - tn - e Jrly
al. - sr,-1r- rs tn i-..k- q the Trea-
arr. s-s.sa1tsI 9 Sl.Es.'. >s' 49, q.
fsrv,tshiv. >h,1A the war ~-nsiaae ier
ausrhsr gsar. thu 4sss.srt H-zy b. rsrrsa-.-i
/. ~ lar fr..sa s-.#' "a 30 .s&s' iieIf.rth-
ua.,-, Part Is ar can p-Fle. II has b.
s,auc substantial brabch & national
thoa-h private, pr,feay For cb,ipa,
rra-..a>. the IA r. -ariy thi- rnoreuy can
l. dl-tEIbair-l an. ss. ihe Irsl .c the better
t. favor such a general dl>tr.halion, great.
or indac-mcni. to bccpme uwncrs mi.hi
perhaps. With good effect AMI withpat in-
jury. b. presented 10 persons Of limited
mean>. With this view. ! suggest IL IL be
convenient IT, Congress, 10 provide lin
tied amount sc SOME future I>>uc> of public
securities. which might lie held by any
bona G.i, purchaser. exempt from taxation
and from seizure for debt. under such re-
strictions and limitations is might be nee
cssary to guard against the abuse Of this
important privilege.
This would criable prudent persons to Sc,
aside small annuity against possible day
of want. Privileges Ike these would rem.
der the possession of such security, 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 oppressed by debt which
they owe themselves The public debt on
the lst day of January last, although some
what exceeding the estimate of the Sccre-
tary of the Treasury, made to Congress at
the commencement Of last session, falls
short of the estimate Of that officer, made
on the preceding December. The proba.
BILE deficiency of the beginning of this year
was about S:,995,079 3d. This fact cx-
hibits a satisfactory condition and conduct
of the operations of the Treasury.
NATIONAL BANKING SYSTEM.
The National Banking system is proving
to be acceptable to capitalists and to the
people, On the oath Of November, 5S4
National Banks had been organized, Il con-
siderable number of which are conversions
from State banks. Changes from the State
system are rapidly taking place, and it is
hoped that very soon there will be in the
United States no bank of issue not author
lied by Congress, and no bank note in cir
culation not secured by Government bonds.
That the Government and the people will
derive general benefit from this change in
the banking systems of tho country, can
hardly be questioned The National sys-
TEN will create reliable and permanent in
fuence 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 sup
preston of State bank issues, it will be for
Congress to determine. 1t seems quite
clear that the treasury cannot be satisiac-
torily conducted unless the Government
can exercise restraining power over the
bank-note circulation of the country.
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,
and also the operations of the several ad-
ministrativc bureaus of the War Depart
ment during the last year. 1t will also
specify the measures deemed essential for
the National defense, and to keep and to
supply the requisite military force.
INDIAN AFFAIRS.
1t was recommended in my last annual
message that our Indian system be remod-
clcd. Congress at its last session, acting
on the recommendation, did provide for re-
organizing the system in California, and it
is believed that under the present organi-
cation the management of the Indians
there will be attended with success. Much
is yet to be done to provide for the proper
government of the Indians in other parts
of the country to render it secure for the
advancing settler. and to provide for the
welfare Of the Indians. The Secretary re-
iteratcs his recommendations, and to them
the attention Of Congress is invited.
PENSIONS.
The liberal pensions to the invalid SOL
niers and sailors OF the Republic. and to
the widows and orphans and dependant
mothers o: those who have fallen in bat.
tie or died Of disease contracted Of wounds
received in the services Of ,hei, country,
have been diligently administered. There
have been admitted 10 the pension rolls
during the year ending the 3oth day Of
June last. the names OF 1910 invalid
soldiers. and Of 2.7lO disabled seAmen.
L a