The Union and journal. [volume] (Biddeford, Me.) 1858-1882, 1864-12-09

stipulated In the existing arrangement with
Great Britain. the United States must hold
themselves at liberty to increase their naval
armament on Lakes, II they shall and that
proceeding necessary. The condition Of the
ton in connection with the question Of con.
tinuing or modifying the right OF transit
from Canada through the United States ~
we'll a. the regulation Of impos,s which were
temporarily established by Reciprocity Treaty
Of the 5th June. 1854. desire. however. to
be understood. while making this statement
that the Colonial authorities Of Canada ere
not deemed to be Intentionally unjust or un.
friendly towards the United States, but on the
contrary there il every reason to exsect that
with the approval Of the imperial government,
they will take the necessary measures TO pre-
vent new incursions across the border.
ENNiGRArIrS.
The act passed at the last session for the
Encouragement Of Emigration has. so far As
possible. been put into operation. It serms
to need amendments which will enable the
officers Of the port to prevent the practice Of
frauds against the emigrsnts while on their
way and on their arrival In the ports, so a.
to secure them here FREQ choice Of svoca.
ton and places Of settlement. A liberal dis.
position towards this great national policyis
manifested by most European States. and
ought to be reciprocated on oar part, by Civ
ing the emigiants effective national protec.
ton. I regard our emigrsn's az one Of the
principal replenishing streams, which nre ap.
pointed by Providence to repair the ravages
of internal war and its wastes of nationsl
strength and health, all that is necessary is to
secure the How of that stream in its present
fulness, and to that en- the government must
in every way make II manifest. that IL neither
needs nor designs 70 impose involuntary
military service. upon those who come from
other lands to cast their lot in our country.
YISASciEs.
The financial affairs ut the government have
been successfully administered during the
last wear.
The Legislation of last session Of Congress.
has beneHcislly effected the Revenue. al.
though sufficient time has not yet elapsed to
experience the full effect OF several Of the
provisions Of the acts Of Congress, imposing
taxation.
The Receipts during the year, from all sour.
ces upon the basis Of warrants, signed by the
Secretary of the Treasury. including Loans,
and the balance in the Treasury on the tirst
day of July 1868 were Si.39i,796, 00i ,02 and
the aggregate disbursements upon the same
basis were Sizes, O56, l0l.89 leaving bal.
ance in the Treasury, as shown by the war.
rants of S96.739,9O5 73. Deduct from these
amounts, the amount of the principal OF the
hubble debt redeemed, and the amount Of IL.
sues in substitution therefor, aud the actual
cash operations OF ths Trea,ury-Receipts
1884,, O76. 5i617, disbursements $3.50. 1881, 0S7.
s6. which leaves a cash balance in the trea-
.urv of SlS,Si2,55S.7l. or the receipts there
were derived from customs Sl02, 3i6.l52 %
from lands S5SS, 533.29, from direct taxes
s475. GAS 96, from internal revenue Sl09.7Il-
1910, from miscellaneous sources Si7,5li,.
1870, and from loans applied to actual ex.
pendiiures. including the former balance,
1928, ai3,929 Is. There were disbursed for
the civil service Sl7 sos. 500 46, tor pensions
and Indians $751;. 93O.96. for the War De.
S6O.79l.si297, Tor the Navy De.
psrtment Ss5.733.29277. for interest on the
public debt S52.6S5,42l.69, making an az
vregatc of $685.. .0S7.S6. and leaving u
balance in treasury Of SiS,Si2.55S.7l, as be.
fore stated. for the actual receipts. aud dis.
,imated receipts and disbursements, for the
three remaining quarters OF the current FISCAL
year, and the general operations Of the Trea.
sury in detail. refer you TO the Report of
the Secretary Of the Treasury, aud concur
with him in the opinion that the proportion
of money. required to meet the expenses con-
seauent, upon the war derived from taxation,
should be s,ill further increased. and ear.
nes,ly invite your attention to this subject to
The end. that there may be such additional
os shall be required t. meet the
expectations Of the Secretary. The public
debt on the drs, day Of July last. a. appears
nv the books Of the Treasury amounted to
Sl,7io. 69O.iS9.49. Probably. should the war
continue for another year. that amount may
be increased by not far from 500 millions;
held as il il for the most part BY our own
people, O substantial hrauch Of National,
though private property. For obvious rea.
.ons the more nearly this property can be dis.
irihuted among the people the better. To
avor such general distribution. greater in
iucements u become owners. might perhaps
with good effect and without injury DO pre-
sented TO persons Of limited means. With
this view ! suggest whether il nigh, not DO
both competent and expedipnt for Congress
10 provide liwi,ed amount Of public securi.
ties might he held by any bona. ode purcha.
ser exempt from taxation. aud from seizure
for deb, under such restrictions and limita.
lions ~ might be necessary TO guard against
abuse Of 40 important q privilege. This
would enable every prudent person to set
aside small annuity against pos ible day
Of want.
Privileges like these would render the pos.
session OF such securities To the amount lmi.
ted most desirable to every persons Of ANAL
means who might be able to save enough for
this purpose. The great advantage Of citizens
being creditors as well a. debtors in the 70.
lation to the public debt is obvious. Men
readily perceive that they canno, be much
oppressed by . debt which they owe TO them
selves.
rrnLIc DEBT.
The public debt on the first Of July last,
although somewhat exceeding the estimate
If Secretary Of the Treasury made to Con.
,ress at the commencement Of the last session
VI Congress, falls short Of the estimate of
hat official made in the preceding December.
as to It's probable amount At the beginning OF
this year by the sum OF S39o.509.73l.
This fact exhibits a satisfactory con iition
md conduct Of the operations Of the rea.
Jury.
NATIONAL BANKING SYSTEM.
The national banking system Is promising
10 DO acceptable to capitalists and to the PEG.
pie. On the 9Th day Of November, 6st Ma.
ional Banks had been organized. A con.
number Of them were conversions
rom State Banks. Changes from State avs.
lem to the National system are rapidly taking
place. and II 10 hoped that very soon there
will be in the United States, no Banks Of is-
,ue not authorized by Congress. and no hank
note In circulation. not secured by the Gov
the government and people
III .,.x;v. c,..s h.nsHt from, th;. nh an oo IL,