Delaware gazette. [volume] (Delaware, Ohio) 1855-1886, 1864-12-09

cents 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 been substantial branch Of national,
though private property. For obvious reas-
ons, the more equally this property can be
| distributed among ali the people, the better;
| 10 favor such general distribution, greater IL
/ Iducements tc become owners might, perhaps,
| with good effect and without injury, be presen-
ted to persons Of limited means. With this
view, l suggest, whether it might not be both
expedent ard competent for Congress to pro-
i vide that limited amount Of some future is
sue Of public securities might be held by any
bona .fde purchaser exempt from taxation and
from seizure for debt, under such restric-
tions and limitation as might be necessary to
guard against abuse Of so important priyi-
lege This would enable prudent persons to
set aside q small annuity against possible
day OF want. Privileges like these would rem
der 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 Odyan-
tage of citizens being creditors as well as debt
ors, with relation to the public debt, is obvi-
Gus; men readily perceive that they cannot be
much oppressed by debt which they owe to
/ themselves.
The public debt on the first day Of July
! last, although somewhat exceeding the esti-
/ mate Of The Secret ary of the Treasury, made
/ to Congress at The commencement of the last
session, falls short of the estimate of that Off
| Ger made in the preceding December, as to lis
| probable amount at the beginning of this year,
by tue sum of $3,995,O79,33. The first ex-
hibits a satisfactory condition and conduct OF
the operations of the treasury. The national
banking system is proving to be acceptable to
capitalists and to the people. On the 25th of
November, 584 national banks had been or
ganized, considerable number Of which were
conversions from State banks. Changes from
the State system TO the national system are
rapidly taking place, and it 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 the
Government That the Government apd the
people will derive general benefit from this
change in the banking systems of the country
can hardly be questioned. The national sys-
TEN will create reliable and permanent infu-
ence in the support of the national credit, and
protect the people against losses in the use of
paper money. Whe ther 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
Treasury cannot be satisfactorily conducted,
unless the Government can exercise restrain
ing power over the bank note circulation of
the country.
The report of the Secretary of War, aud
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 administrative bu- |
reaus of the War Department during the last
year. 1t will also specify the measures deem |
ed essential for the national defense and to
keep up and supply the required military force
The report of the Secretary of the Navy
presents a comprehensive and satisfactory ex
hibit of the affairs of that Department and of
the naval service. It is a subject of congratu-
lation and laudable pride TO our countrymen
that navy of such vast proportion has been
in so brief period and conducted
with SO much efficiency and success. The
general exhibit of the navy including vessels
under construction, on the first of December,
1864. shows a total of GIL vessels carrying
4,6lO guns and $40, 1896 tons, being an actu-
al increase during ts4e year, over and above
all losses by shipwreck or in battle, of 80 yes
sells, 167 guns and 42427 tons. The total
number of men at this time in the naval service,
including officers, is about 81 900. There has
oeen captured by the navy during the year,
324 vessels, and the whole number of naval
Z
If which 267 are steamers. The gross proceeds t
lrising from the sale of condemned prize
property thus far reported, amounts to $l4,- {
'94, ,25O 81. A large amount of such pro-
leeds is still under adjudication aud yet to be i
eported s
The total expenditures OF the Navy Depart r
nent OF every description, including the cost t
If the immense squadrons that have been call S
d into existence from the 4th of March, 1861, f
o the lst of November, 1864, are SS238 ,647,- f
.62 50. Your favorable consideration is in g
7ited to the various Recommendations of the p
Secretary of the Navy, and especially in re- C
gard to a Navy Yard, and a suitable estab-
shment for the construction and repair of il
ron vessels and the machinery and armature ft
f our ships, to which reference was made in o
ny last annual message. Your attention is
lso invited to the views expressed in the re- ei
ort, in relation to the legislation of Congress, h
t the last session, in respect to prizes our fr
bland water. cordially concur in the re- g
of the Secretary as to the pro- N
riety of creating the new rank of Vice-Ad- ST
liral in our naval service. al
Your attention is invited to the report of B
be Postmaster-General, for detailed account pI
( the operations and financial condition OF al
he Post Office Department. The postal reVe- re
ue for the year ending June Both, 1864, al
mounted to $I2, ,438, ,252 78, and the expendi- Sc
nres to So, ,7s6 20, the excess of expen-
itures over receipts being $206, ,652 AZ. The al
Jews presented by the Postmaster-G General on sl'
ls subject of special grants by the Govern th
ent in aid of the establishment of new lines tW
ocean mail steamships, and of the policy he til
;cOmmends for the development OF increas- gr
commercial intercourse with adjacent indie gu
andent Deighboring countries, should receive wi
le careful consideration of Congress mt
1t is of noteworthy interest that the steady mt
Zpansion of population, improvement and alb
overnmental institutions over the new ard tel
loccupied portions of our country have th'
arcely been checked, much less impeded or thi
.stroyed by our great civil war which, lat of
st glance, would seem to have absorbed al wi
ost the entire energies of the nation. it
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