The Cadiz sentinel. [volume] (Cadiz, Ohio) 1864-1911, 1864-12-14


for, and the actual cash operations of
/ tue Treasury were, receipts SSS4,076,
6t6 n, and disbursements 1865, ,234,- :
| 037 Sc, which leaves cash balance in
the Treasury of Sl7,S42,568 81. Vi
the receipts, there were derived from
customs, Sl02, 8 1871 90; from lands,
S588, 333 30; from direct taxes, $475,-
GAS $50; from international revenue,
! Sl09,74l,l34 10; from Miscellaneous
sources, S47 7,5l .443 10; from loans ap-
| phi d TO accnnult ID expenditure, in
cludiug former ball mce, 1923, 4+3, ,029-
| 73. H..-... .-., .mG .
There Were disbursed FIR civil SER
vice $27, ,205, ,599.45; for Pensions and
Indians S15l7 93O.97, for the War De-
partment $50, 79l, ,S42.97; for the Navy
Department 385 733, ,292 70; for the in
terest on the public debt $50, ,695, 421 SO;
making an ag greg ite of 1866, ,234, ,O97.S,
leaving a balance in the Treasury of
S8,S42,55S.6I, as before stated. For the
actual receipts and disbursements for
the first quarter, and the estimated re-
ceipts and disbursements for the three
remainiEg quarters of the fiscal year
and the general business Of the Treas
ury in detail, | refer you to the report
of the Secretary OF the Treasury. |
concur with him in the opinion that the
proportion OF the monies required t.
meet the expenses concurrent upon the
war, derived from taxltion, should be
increased, aud [ earnestly invite your
atten ion to this subject to the end that
there may be such additional legislation
as shall be required to meet the just ex-
pectatlons Of the Secretary. The Dub-
lie debt on the first of July last, as app
pears by the books of the Treasury,
amounted to one billion, seven hundred
and forty thousand millions, six hun
dred and ninety thousand, four hundred
and eighty-nine dollars and forty mine
cents. Probably. should the war con-
tlnue another ye r, the amount may be
increased by not far from five hundred
m,lllo"s. Held as it i, for the most
part, by onr own people, it has been a
sabstantid branch of national, though
private property. For obvious reasons
the more equal y this can be distributed
among al tne people, the better, to IA
vor such general distribution, greater
inducements TO become owners might,
perhaps, with good eff ct aud without
injury, be presented 10 persons of lin
tied means. Win this view, | sug rest
whether it might not be both expedient
anil competent for Congress to provide
that Il limited noanG Of some future
issue oFpIbIlc securities might be held
by any bona .1ieb purchaser exempt
from CaXlt.0n aal from seizure for
deb, under such restrictions and limit
alton os might be necessary to guard
agalu-t abuse OF 80 important priyil-
eg Ills would enable pruden5 per-
sons to set aside small annuity against
a possible day of wInt. 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. rha great ad-
vantage of citizens being creditors as
well az dobtors, with relation to the
pub i" debt, is obvl US; men readily
see that they cannot be much oppres-
sed oy a debt VII ca they owe to them
selves. ....... -..,..
The public debt on the first day of
July last, although somewhat exceed
ing the estimate Of Secretary of the
Treasury, made to Congress at the
coinmencement of ,he last session, fills
| short of the estimate of that Off Ter
made 10 the preceding December, as to
its probable amount aJ the beginning of
this year, by the sun of $3,995 ,079.3 .33
The first exhibits a satisfactory condi-
tion and conduct OF the operations of
the Treasury. The national banking
system is proving to be acceptable to
capitalists and. to the people. On tt g
25th Of N svember, 5S4 nation | banks
had been organized, and considerable
number OF which were conversions from
State banks. Changes from the State
system to the national system are rapid
ly 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 circula-
tion not secured by the Government. -
That the Government aud the people
will derive general benefit from this
change iG the banking systems of the
country can hardly be questioned. The
national system will create reliable
and permanent influence IN support of
the national credit, and protect the peo
pie against loss in the use Of paper mo-
ney. Whether or not any further leg
islation is advisable tor the Suppression
OF State bank issues, it will be for Con-
gress to determine. 1t seems quite
clear that the Treasury cannot be salts
factorily conducted, unless the Govern.
ment can exercise restraining power
over the bank note circulation of the
country. f. .- a......
The report of the Secretary of w ar,
and the accompanying documents, will
detail the campaigns OF the armies in
the field since the date of the last an
nual message, and also the operations
of the several administrative bureaus OF
the War Department during the past
year. 1t will also specify the MEASURES
deemed essential for the national de-
Tense and to keep up and supply there
quired mi itary force. -
The report of the Secretary of the
Navy presents comprehensive and
satisfactory exhibit of the afflirs of that
Department and of the naval SERVICE
IT is a subject of congratalation and
la1dable, pride to our couhtrymen that
navy of such vast proportions has
been organized in so brief period and
conducted with so much efficiency and
success. The general exhibit ofthe ma
Wy, including the vessels under con
sirnction. on the first OF DAcainher