Evening star. [volume] (Washington, D.C.) 1854-1972, 1864-12-06

health. All that 10 Necessary is to secure the
flow OF that stream In Its present fuilness, and
10 that -nd the government must In every
way, make IL manifest that it neither ne.ds nor
designs 10 impose inv oil untary military service
upon those who come from otner lands 10 cast
their lot in our country.
The financial affairs of the government have
peen successfully Administered during the last
year. TIE legislation OF the last session of
congress has b. aencIally affected The revenu es,
aHhoueh sufhcient time mas not yet elapsed u
experience the full effect Of several OF the pro-
Visions OF the acts Of Congress imposing III
Gre ased taxation.
The receipts uriBg the year, from all sources,
Upou the bass o: warrants sIgued by the Se:-
IeGafy OF the Ire usary, including loans aud the
bsiance the treasury on the first day of j uly,
le6}, were 1891, g6,UU7 ~, au= the aggregate
disbursements, upon the same basis were
: PCS $50, lUl 80, leaving a balance In the
treasury, as shown by warrants, Of 500, 7a9,-
9 80.
Deduct from these amounts the amount of
the prln cipIe of tue puolic debt redeemed snd
the amount OF issues in substitution therefor,
ana the actual cash operations oftne treasury
were: receipts, SsSi,u76,6i6 81; disbursements
Ss6S,23ii e. e6: W hich leaves q cash balance In
the treasury OF SIS ,Sl2, 55o IL.
OF the receipts, there were derived from
ustoms SlG2 36. l52,9g; from lands S5e, :S33 20;
troIh direct taxes, Sii5,6iS 50: from Internal
revenue, Sit9,7ii,l 4.I0; from miscellaneous
sources S47 81 AS 10; and from loans applied
10 actual expenditures, including former bal
ance, S62}, 4i:', 929 Is.
There were dlsbursed for the civil service,
S2',5G5.59S46: for pensions and Indians, ST..
5i1,! So 81: Tor the War Department S6aL 1yl aI2
81; Tor the Navy Department, $50, 7:S3 re II;
for interest OF the puoIc debt, S53 SIS, i2l S.
making an aggregate of SS61, i.Os7 80, and
leaving baiance III the treasury OF Bis SI2 SOS
II, 0s befol lie stated.
For the actual receipts and disbursements for
the first quarter, anu the estimated receip pit, and
disbursements TOR The three remaining quarters
of the current fiscal ear, and the general op-
eIsions Of The treasury in detail, 1 refer you
10 the report OF the Secretary OF the Treasury.
L concur with him III the opinion That the pro-
porIon of moneys required to meet the ex-
penses consequent upon the war derived from
taxation should be siIl further increased: and
1eaInestly invite your attention TO this subjec,,
to the end that there may be such additional
legislation as shall Be req red 10 meet the lust
eNpe cI atoms OF the Secretary.
The public debt on the first day OF ally last,
appears by the books OF the treasury.
amounted 10 81, 7iu,69O, 4c9l = PROBABLY should
the " ar con tinue tor another year, that amount
may be Increased by not lar from i've b und red
millions Held As II Is for the most part, bv
our own people it has become Il substantial
branch of national, though private, property.
For obvious reasons, the more nearly this
property can be distributed among ali ths PEG
ple the better. To favor such general dig tri-
button, greater Inducements to become 2uers
MI ut, perhaps, with good effect, and without
INJURY ,oe presented To persons OF limited means
With this view, l suggest whether II mig ht not
be both competent and eXpedent for Congress
10 provide Inst O limited amount of gone ru-
ture iss Ne Of pnDlc securities NIGH be held bV
any bona foe purchaser exempt from taxation
and from SEIZURE Ior deb, under such re. trio
T. aud limitations IS might De necessary 10
guard against abuse OF So Important a prIyiI-
eye. This would ENABLE every prudent person
10 sc, aside small annuity against pos 81 ole
cay OF want.
PRIVILEGES like these would render the DOS
session OF such securities, to the amount limited.
most desirable 10 every person OF small means
Y no might be able to save enough for The pLr-
pose. The great advantage OF citizens being
creditors we'll as debtors, with relation To
the public debt, is obvious. Men readily per-
cave that th.y cannot be much oppressed by
debt which they owe TO themselves
The public debt on the first day Of July last,
although some what exceeding the estimate of
the Secretary Of the Treasury made to Con-
eress at the commencement OF the last session,
falls short OF the estimate OF that officer mad
in the preceding December, as TO its probable
amount at The beginning OF this year, by the
sum uf 49,, 81, 09s 81. This fact EXHIBITS a sat-
istac tory coHGltion and conduct OF the opera
lions of the Treasury.
The national banking system is proving to
be acceptable TO capitalists and TO the people.
On tie twenty fifth day OF November i've
hundred and eighty -four national banks had
been organized Il considerable numoer OF
which were conversions from State banks.
Changes from state systems to the national
systems are rapidly taking place, and it is /,
hoped that, very soon, there Will be in the
I nIted States no banks OF issue not authorized
by Congress and no bank note circulation not
secured by the Government That the Gov
erGn:ept and the people will derive great bene-
ii from this change IN the banking systems Of
tie country can hardly De questioned. The
national sy stem will create a reliable and
perm aL.nt influence in support OF the nation
al cT"IIt, and protect the people a. ainst losses
IN The OF paper money. Whether or not
any further gislation is advisable Tor the sup
press 'on of state bank issues, II will be- fOr
Congress 10 determine. 1t seems quite clear
that the treas ury cannot he satisfactorily con-
CuCted unless the Government can exercise 4
restraining power over the bank-note circuIa.
tioE OF the country.
The report of the Secretary of War and the
accompany ing documents VIII de till tue cam
paiens OF tie armies i'll the field since the date
Of the las: annual message, and also the opera
lions OF the several administrative bureaus of
the W ar Department during the last year. Ii
Will also specify the measures deemed essen
tial Tor the national defense, and 10 keep up
and supply the requisite military force.
The report Of me Secretary of the Navy pre-
seIts compre hensive and satisfactory EXHIBIT
Of the affairs Of that department and OF the ma
val service. 1t lie subject OF cohgratulation
ard laudable pride to our couLrymen that
navy OF su, h vast proportions has been organ.
lzed in so hrlef period, and conducted with
SO much cfficl-Ley and success.
The general exhibit OF The navy, including
vessels under construction on the 1st of De-
Cemher, !eGi, shows total OF GIL vessels, car
rtIng i,GlJ guns, aud Of jlG,3g6 tons, being an
actual il crease curIg the year, over and
above all losses by s1IpUreck or ~ battle, OF
> vessels, 10! guns, ard i2,421 tons.
he Total number q. men at this time in the
raval service, including officers, is about
5i,ttU.
There have been captured by the navy dur-
ing tie year :}2i vessels and the " hole II lumber
OF naval captures since hostilites commenced
l. 1872. OF " HIGH 267 are steamers.
The gross proceeds arising from the sale of
condemned prize properly, thus far reported,
amount 10 Sll 3.6,.jO 81. A large amount OF
such proceeds is still under adjudication and
yer TO be reported
The total expenditure OF the Navy Depart
ment OF every description, including the cost
CT the immense squaCTOn5 that have been
called iu'o existence from the ith OF March,
1851, TO he LIST OF Novem Der, 1851. aye sos, 6i7-
.6I IS.
Your favorable consideration is invited to
RE various recommendations OF the Secretary
ot tie Navy, especially in regard TO a navy
yard and suitaCie establishment for the con-
siructicn ana repair OF iron vessels, and the
machinery and armS.ure for our ships, to which
reference was made in my last ann ual mes.
sape.
Your attention is also invited to the views
expressed in the report ia relation TO the lesis-
linton OF Congress HI its last session in respect
TO prize on CUR inland waters.
fIall