Weekly national intelligencer. [volume] (Washington [D.C.]) 1841-1869, 1864-11-17

II
Of London aud st Peersbugh It's own conclusion that the
United states unable to achieve any decisive military
Iu The sent b. those POWERS no ultima
of nlrary tpDion was conveyed IL 10 noton
Gus that In speeches both aud out OF Parliament the
members OF her BriaDn Majestys Government have not
bestated express this convic Ion IN u quaned terms
The denial of our right under these circumstances 80
obviously unjust and dscnmlnates unfairly 10 favor Of
the United states that nuta have sought TO paate tne
wrong OF which they are conscious by professne 20 con
slider opposition 10 notorious truth and 10 the Ano"h
bel ef OF both bell Rerents that the recognition Of our n
dependence would DO valueless without their urher ns
yenon 10 the struggle an Intervention OF Wacn we us
desire mislIust the advantage we secA
favor We wish no intervention know ourselves FULLY
competent to maintain our own rights ana
ginst the invaders Of our country and we leei unoo
asserting that without the aid derived from recruiting
their armies from foreign tries, the invaders would
ele this have been aps1en from our soil
When recognition Of the Coafederacy was refused
on the GROUND that any action by her Mnjesys Govern
ment would the effect OF inhaming the passions o.
the bellge and OF preventing The return OF peace IL
i, assumed that This opinion sincerely entertained;
out the experience of two years OF uuequaed Carnage
shoa thai erroneous and that the result was the
reverse of what the British Ministry humaoely desired
Contrary pohcy-a policy just to u.s. policy dVerging
unvaryng OF concession to all the demands
Of enemiess still within the power OF her Msjesys
Government, aud would, it fair 70 presume DO pro-
ducve of the opposite OF those which have
unfortunately followed its whole OF conduct from
the to the present time In Word peace
impossible without independence, and IT Is not TO be
recognition of that Independence When the history OF
this shall be fully disclosed the calm judgment OF the
impartial puhcst will for these reasons be unable to
absove the nations Of Europe from share In the
moral responsibility for the myrads Of human lives that
have been unnecessarily sacrificed during its progress
The renewed Instances 10 which foreign Powers have
given Just complaint need not here be detailed
The the correspondence OF the State DE
parment which accompany this message, will afford such
further information as can be given without derment 10
the public interest and must reserve for the future
such action az NAV then be deemed advisable
| redress
| FINANCES.
Your special attention is earnestly invited to the report
of the Secretary of the Treasury submitted in conformity
with law The facts therein disclosed are far from dis
couragng and demonstrate that with udcous legislation
shall be enabled to meet all the exgencies OF the war
from our abundant resources and avoid at the time
such accumulation of debt would render at all doubt
| full our capacity to redeem it.
The total receipts into the Treasury for the two quar-
| tiers ending on the 30th Of September, 1864, were
S4I5 l9l $50; which sum, added to the balance OF
$3O6 2S 22 that remained in the Treasury the LIST Of
April last, fOrms total OF S723494272 OF this total
not far from hathat Is to say 42 500 327have been
applied the extinction OF the public debt while the total
Expenditures have beeu 72 $685. leaving balance in
the Treasury the ls OF October 1884 OF SlOo 44O
The total amount of the public debt exhibited on the
books Of the keg- the Treasury the lst October
1864, YVES 81 lat 970205, of which $3.50 10000 were
funded 5t bearing Interest loO were treasury
boes the issue aud the remainder consisted OF the
former issue Of treasury notes which will be Converted
INTO ohe forms deot and will cease to exist as currency
on the 3ls of mouth The report however, explains
that in Of absence o certain returns from
slant officers the true of the debt less by about
twenty one taIf millions of dollars, than appears on
tie Of the Register aud that the total public debt on
the st Of last month may be fairy considered to have
been 81, ls6 3Sl,o95
TIE increase # the public debt during the ak months
the LIST April TO the lst October was SS 6507So
being than SIG 100000 per month"; and will
apparent perusa of the report that this angmen
taaon would have been avoided and positive reducti
the would have been Effected but for Certain
nt rh4
which pointed out III the report and which seem to
admit OF easy remedy
Ia the stat just made the foreign debt is omitted
1t consst only of tbs unpaid balance OF the loan known
as the cotton Loan This balance is but 2 2oC 0o0 aud
adequately provided for by two hundred and Fifty
Thousand bales owned by The Government,
Il tn cotton be rated as worth but sxpence per pound
There is Of the public debt not included in the
tbss presented, to which your attention is required The
bounty bords promised to soldiers by the third section
If the act f 18th February, 1864, deliverable the
lst OF octooer he Secretary has been unable to issue
teen BY Of omission 10 the law no time being
therein fixed for the ., yuent Of the bonds
The sge gate appr called Tor by the different
dep rtuen the Government according to the estimates
ubmt with the port, for toe s., months -nhng o.
the sob OF june 1885, amount 10 SASS OF 679 wh the
Seor tar tsumstrs that ere VIII retnarn IN xped-d
out ,ftimeT spp-opr tn IN The Let OF tLusry, 1865
balance # S467 46 5o4. Il would th~rrtore, seem
estual.s been largely 10 OF actual
-xprnditurss and that ADDITIONAL appropriations are
rrqu red meeting the needs OF the puoc servce up to
tue LIST If Jolly Of next year Indeed # the estimates now
rsn ed should prove be much IL excess OF actual
az hos been the case consdera
Die balance will still remain unexpended at the close OF
the fr half Of the ensuing year
Tue chief difficulty To be apprehended IN connection
with our finances results from the depreciation Of the
Treasury pote which justly to be attributed by the
secretary to redundancy IN amount and want
Of confidence in ultimate redemption; for both OF which
remedies are suggested that viii commend themselves to
your consideration being practicable well as efficient
The main features Of the plan presented substantial
~ these: First That the faith Of the Government be
pledged that the shall remain exempt from tar
ton Second That no issue shall be made beyond that
which is already authorized by law Third That
tain xed portion Of the annual receipts from taxation du
ring the shall be set apart specially for the gradual
tnctn If he oBthndng amouit until 1t shall have b.
due TO 5000 000i aud fourth. The pledge and ap.
preparation of proportion OF the tar IN kind and for
number Of years after the reurn OF s shall be
su et for the na redemption Of the entire circulation
Tue details of plan the calculations which it Is
Based the efficiency of its operaoD and the vast advSn-
tases which would result from its success are fully de
tail IN the report, and cannot be iay presented in
form sufficiently condensed for this message. doubt not
will receive from you that earnest aud candid consider
ion which meTited by the importance Of the subject
The rccommeu Of the report for the repeal OF
certain provisions Of the Tax law which produce inequality
In the bu den OF axati tor exempng all Government
au, from taxati n capital aud from any adverse dis
crmipa taxation income derived from them for
placing the taxation on banks the footing the
taxation Of other corporate bodies for securing the pay
ment into the Treasury OF that portion Of the bank crcu
aoD witch liable TO cpnhscaon because held by alien
eneunes for the OF the lnerestoerDg Urea
aury notes now outstanding nto coupon bonds and for
the quar- ery collection Of all present practical
questions for legislation which, If wisely DEVISED will
greatly improve the public credit and alleviate the bur-
Il