The Hancock Jeffersonian. [volume] (Findlay, Ohio) 1857-1870, 1864-08-12

flrnNc men WIZ Wc hBhb"S ~ -
ties bv land md sea mus, he fed and
cloth, d. munitions Of war ot oil kinds
rnnst ~ furnished, or tho war must
end +, defeat and disgrace. ms is
uo; thu time for any lover of his conn
,re ro inquire MS TO the state OF the
nancy marl;tt. or ask whether he eau
IN invest his surplus capitsl as to
Weld him q larger returi'. no re
trrn. aud no profit, can he dcsireble,
ir ,ol,owed bv national dissolution, or.
ru,;onnl .dissrace. Present profit,
thus acquired, is hun the precursor OF
f,;ur. snd speedy destruction. NO
Investment can I've SO surely proiita.
lilo os that which tends 90 insure the
national cxi't nee. :.
I om encouraged in The belief that
hy the recent Legislation OF Congress
,,Sr ana ices may soon be placed upon
a sounder and more stable footing -
The prescnt dcnnged condition Of
,hc c ,rrency is imputable, in sreat
,,errec, to disturbances arising from
the Withdrawal Of necessary checks
ntten inevitable in time q: war, when
.xpenditurcs must largely exceed any
possible supply of coin. Tho appor-
tunities thus presented TO acquire
sudden wealth have led to vicious
snec,,ls,ion. consequent increase in
,rjees. aud violent auctnatien. The
ramedv 4. to bc found only in con
trolling the necessity which hegetS
the evil. Hitherto We have felt th"
need of more extensive aud yigornns
tnyo,ion. Severe comment has been
made uron what seemed TO many al
.uduc timidity and tardiress OF act
ion on the part of Congress- IN TINS
regard Id em it but just to say that
very great misapprehenslon mas eN.
istcd. and perhaps still exits upon
thia noiut Legislators, like all 9th
ers. have much TO learn in anew con
al t;ou of ,f,ire. An entirely new
system was to be devised, and that
sys,em must ncccssarilybe the growth
of time and experience. IL Is not
strange that first efforts should nave
preved imperfect and Inadequate
TO aay heavy burdens OH great ana
patriotic people in such n manner as
To- rbc equal, and as TO occasion the
lcast amount of suffering or annoy.
anec, requires time and caution ana
vast labor; and, with all these expe.
ricncr is needful to. test the value oi
the system, and correct its errors
Such has been the work which Con.
rrcss was called upon TO perform.
am happy to say that daily results
are proving the Internal Revenue
Ne. to vXceed IN ctiiclency tne most
expectations OF It's authors
In the month OF June, 1868, 1t WELD
ed about four and one half millions
of dollars, while the corresponding
OF this year returned about
nttccp millions, under the same law
Under the new law, which went into
operation on the first day OF the
present month, the Treasury not I'M
receives one million IN
duv. AS tune and experience ena-
HE the officers employed in collecting
the revepue 70 enforce the stringent
provisions of the new law, trust
ltst a million per day will be found
the rule and not the exception. Still,
much space is undoubtedly lett for
Improvement in the law, and in its
adni Mstration. ~ q ereater amount
oi necessary iufornation is aquired.
The proper sources OF revenue, and
thcu o,t effective modes of obtaining
il, are best developed in the eNccu.
tion of existing law. And ] have
measures to he Initiated which
will, il is believed, enable Congress
20 70 improve and enlarge the s.ys'
TEN as, when taken in connection
with the revenue from the customs,
and other SOURCES, to afford an ample
aud secure basis for the national cred
il. Only on such basis, and in a.
steady ond vigorous restraint upon
currency, can remedy he found Tor
txisting evils. Such restraint can
auly he exercised when the Govern
pacnt Is furnished with means to pro.
STdc for its necessities. But without
che aid of a patriotic people, any
government is powerless, for this or
any other desirable enl.
The denominations Of the notes
to be issued, ranging from
fifty to Eve thousand dollars, place
these securities within the reach of all
who are disposed to aid their coun-
try. Fer their redemption tue faith
and honor sad property ofthat conu-
try are solemn'y pledged. a success
snl issue to this contest, now believed |
10 be near at hand, viii largely en-. |
hancc their valuc TO the holder; and |
peace once restored. all burdens can
be lightly borne. He who selfshly |
his aid in the hope ofturn-
ing his available means TO greater
profit, is specializing upon
his conncrg's IN; sfortunes. and may
find that what scemg 70 he present
gain leads only 20 future loss. sp.
peal. therefore, with confidence TO
loyal aud patriotic people, and in
yoke the efforts Of all who love their
country, aud dsstre for it glorious
future, to aid their gaverum ens in sus-
tanning its credit, and placing that
credit upon stable foundation.
w. r FEsSENDEN,
Secretary Of the Treasury,