Union County star and Lewisburg chronicle. [volume] (Lewisburg, Pa.) 1859-1864, 1864-12-09


ton therefor, aud the actual cash operations
of the Treasury were: Receipts, sSS4,
076, G4657: : Disbursements, sS65,.34, :
0o7 Sc; which leaves cash balauce in the
Treasury Of SIS, Si2 55S II.
OF the receipts, there were derived from
customs, SlO2 $40, l52 90 from lands,
S5SS, 333 70 from direct taxes, SlI5,-
CHS 90; from Internal revenue, ,SiU9 III, :
l34i0; from miscellaneous sources, SlI,- :
5ll,44S 10; and from loans applied to
actual expenditures, Including former bal
auce, S623 ,4l3, ,925 Is.
There were dl-bursed for the civil ser
vice, ST, sos 800 46; for pensions and
Indians, S1,5l7, $50 81; fer the War
Department, $500, 79l S42 81 for the
Navy Department, $50, ,733 ,292 II; for
interest on be public deb, $53 ,6S5 32i.69;
making an aggregate of Ss6o.. ,Uo7 ST,
and leaving "a balance in the treasury Ut
SIS ,Sl2, 55S II, as before stated.
For the actual receipts aud disburse-
meats for the first quarter, and the csti.
mated receipts aud disbursements for the
three remaining quarters Of the current
f,cal year, aud the general operations of
the Treasury in detail, | refer you to the
report Of the Secretary of the Treasury.
coucur with him in the opinion that the
proportion Of moneys required to meet
the expenses consequent upon the war
derived from taxation, should be still
further increased, and | earnestly invite
your attentiOn TO this su' jet, to the end
that there may be such additional legsa-
ton as shall be required to meet the jus.
expectations Of the Secretary.
The public debt on the LIST of July last,
as appears by the books Of the Treasury,
amounted to one JHi0n seccn hunllcd and
fJ,ty miUioas SIR hundred and ninety
Mousand fow hundred ama eiyhy-nine
doiiars and Johy-aine cents. Probably,
should the war continue for another year,
that amount will be Increased by not far
from five hundred millions. Held as it
is for the most part By our own people, it
has become substantial branch Of na-
:iOnal though private property.
For obvious reasons, the more nearly
this property can be distributed among all
the people, the better. To favor such
general distribution, greater Inducements
to become owners might perhaps with good
effect, and without Injury, be presented to
persons Of limited means. With this
view, | suggest whether it nigh, not be
both competent and ezpedent for Con-
gress to provide that limited amount Of
some future issue of public securities
might be held, by any bona fde purchs-
ser, exempt from taxation and from selz-
ure for debt, under such restrictions and
limitations as might be necessary to guard
against abuse Of SO important privilege.
This would enable every prudent person
to set aside . small aDnulty against q
possible day of want.
Privileges like these would render the
possession of such securities, to the amount
limited, most desirable to every person of
small meaus, who might be abe to save
enough for the purpose. The great ad,
vantage Of citizens being creditors as we'll
as debtors, with relation to the public
debt, is Obvious. Men readily perceive
that they can not be much oppressed BY a
debt which they owe to themselves.
The public debt on the lst day of July
last, although somewhat exceeding the
estimate OF the Secretary Of the Treasury
made to Congress at the commencement
of the las, session, falls short of the esii-
mate Of that officer made in the preceding
December, as to its probable amount at
the beginning Of this year, by the sum Of
s. 995, ,097.3l. THIS fac, exhibits a sat
ls!actory condition and conduct Of the op-
era,ions Of the Treasury.
Tie National Banking system is prov.
ing to be acceptable to capitalists aud TO
the people. On the 25th Gay Of Novem.
Der, five hundred and eigbty-four national
bauks had been organized, a considerable
number of which were conversions from
State banks. Changes from the State
system to the National system, are rapidly
taking place, aud it is hoped that very
soon there will be in the United States no
banks Of issue not authorized by Congress,
and DO bank note circulation not secured
by the Government. Tina, the Govern
ment and the people will derive great
benefit from this change in the banking
system of the country, can hardly be
questioned. The national system will
create reliable and permanent influence
in support of the national credit, ard pro.
lect the people against losses in the issue
of paper money.
Whether or not any further legislation
IS advisable for the suppression Of State
bank Issues, it will be for Congress to de-
ermine. 1t seems quite clear that the
Treasury can not be satisfactorily conduc-
ed unless the Government can exercise
restraining power over the bank-note
circulation of the country.
The report of the Secretary Of War,
md the accompanying documents, will de-
all the campaigns of the armies in the field |
ince the date OF the last annual message,
nd also the operations of the several ad- |
bureaus of the War Depart
nent during the past year. 1t will also
pecify the measures deemed essential for
he national defence aud to keep up and
uppiy the requisite military force.
The report of the Secretary Of the Navy
resents comprehensive'and satisfactory
xhibt of the affairs Of that Department,