The weekly register. [volume] (Point Pleasant, Va. [W. Va.]) 1862-1909, 1864-12-15

gress imposing increased taxation. The
receipts during The year from all sources
upon the basis of warrants signed by the
Secretary Of the Treasury, including
loans, and the balance in the Treasury
on tho let day ofJuIy, 1868, was 81
1914, 70G.007 62, and the aggregate dis
buuemenls upon the same basis, were
81 1893. O5O, lol. 8G. leaving balance in
the Treasury, as shown by warrants, Of
S96. 739 005 49, Deduct from these
amounts The amount Of the principal Of
the public debt redeemed, and the
amount of issues in substitution there.
fore, and the actual cash operations of
the Treasury, were: Receipts, 1884,.
O7G 646 II; disbursements, 1896. 1884,.
O87 86. which leaves cash balance in
the Treasury Of $lS,Sl2,558 II. OF
the receipts there were derived from
customs $lO2,3lG.I52 90; from lands,
1888 1888 20; from direct taxes, $40.
G4G 90; from internal revenue, $lO0,.
7ll. 1874 TO- rom miscellaneous sources
Sl75Il,443 10 and from loans applied
10 actual expenditures, including the
iormer balance, sG23 ,442 920 10, There
were dsburscd for the civil service,
S27 500 500 AG; for pensions and In.
dams, @75lI93o 81; for the War De.
partmen', 500, 1911 .8l2 97 for The Navy
Department, $85, 733,202 10; for inter
est on the public debt, S53, Cos, 42l Co.
making an aggregate Of 1866, 234Os7
86, and leaving a balance in the Treas.
ury of$l8.s42, 558 II, as before stated.
For the actual receipts and disburso
ments for the first quarter and tho e,ti,
moted receipts and Disbursements for
the three remaining quarters of the ifs
cnl ye5r and the general operations Of
the TlslSury in detail [ refer you to
tho report Of The Secretary Of the TrcGs.
ury. | concur with him in the opinion
that the proportion of the moneys rr,
CURED TO meet the expenses consequent
upon the war derived from taXa,ion
should be still further increased, nnd |
earnestly invite your attention to this
subject, 10 the end that there may be
such additional legislation as shall be
required to meet the just expectations Of
the Secretary.
TlIs NATIONAL DEBT.
The public debt on the frs, day of Ju.
ly last, as appears by the books of the
Treasury, amounted to one billion seven
hundred and forty million six hundred
and ninety thousand four hundred and
eighty nine dollars and forty-Hine cents.
probably should the war continue for
another year that amount may DO in.
creased by not far Iom five hundred
millions. Held as it is for the most
part by our own people, it has become
substantial branch of nllional though
private property For obvious reasons
the more nearly this property can be
distributed amoog all the people the
better. 10 favor such general dstribu
tion greater inducements to become ow
neIs might, perhaps, with good effect,
and without injury, be presented to per,
sons Of limited means With this view
Sugg st whether it might no! be both ex.
pejiout and competent for Congress to
provide that limited amount of some
future issue Of the public securities might
be held by any bona fde purchaser ex-
empt from toxaiion, and from seizure
for debt, under such restrictions and
limitation as might be necessary to
guard against abuse of SO important a
privilege. This would enable prudent
persons to set aldo small annuity
against possible day of want.
Privileges like these would reader 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
Tie great advantage Of citizens being
creditors, g well as debtors with rela
ton 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 FIRST day OF July last, although some
what eXgqaiHg the estimate OF the Sec
rotary of the Treasury, made to Con-
gress at tho commencement of the last
session, falls short Of the estimate Of that
,oGiyey n}saeia tas Pt2eosGiag DeCembN;
as to its probable amount at the begin