Western sentinel. [volume] (Winston [i.e. Winston-Salem], N.C.) 1856-1886, 1864-11-17
WINSTON NORTH cARoLINA A THuRsDAY NOVEMBER Il 1884
TS5.oo PER ANNA.UM

to The 1sss July of next year. Indeed, ulf
the estimates Row pl esented shonld prove
to be as much in excess OF actual expenii- =
lures. as has heretofore been the case, a
considerable balance will still remain un-
expended at the close of the first half of
the enstling year. "a
TIE chief d dlfhculty to be apprehended
In connection with our finances, results
from the depreciation cf the treasury
notes. which seem justly to be attributed
by the Secretary TO two causes, redundan-.,
cy in amount and want Of confidence in
ultimate redenptions for both OF which,
remedies are .srosested that will commend
themselves TO your consideration as being
practicable as well as efic.ent. So
The main features Of the plan present
ed are substantially these 1st, That the
faith OF the Government be pledged that
tie notes shah ever remain exempt from
taxation. Cd. That noiasue shall be made
beyond that which is already authorized
by law. Sd. That q certain fixed portion
OF the annual receipts from taxation DUR
ing the war shall be set apart specially tor
the gradual extinction OF the outstanding
amount until it ahali nave been reduced
to $l5o.ooo. 900: and 4tl. The pledge and
appropriation Of such proportion OF the
tax in kind, anc for such number OF years
after the raturn oF*peace, as shall be sut1-
cient for l3e' fEal redemption OF the en-
tire circulation. The details Of the plan,
the calculations on which tits based, the
efficiency OF its operation, and the vast
advantages which would result from lts
success are fully detailed in the report,
ant cannot be fairly presen ted in form
sufficiently COMO densed for this message. /
doubt not it will receive from you that
| earnest and candid consideration which is
merlted by the Importance of the subject.
| The Recommendations OF certaia previs-
lions of the tax laws which produce ina~
Equality to the bnrthon OF taxation for ex-
EN- pting all Government loans from tax
|arion on capital, and from any adverse
discrimination in taxation ON income de-
Irived from them tor placing the taxation
Iof other corporate bodies; for. securing
the payment into the treasury OF nat por-
ton OF the bank circulation which ls IL
able to confscation, because held by alien
Ienemies for the conversion OF the inter
| est bearing treasury notes now outstano-
ling into coupon bonds, and for the quar-
lterly collection of taxation; all present
/ practical questions for legislation, which,
if wisely devised, will greatly improv Q the
Ipublic credit, and alleviate the bHrfhens
now imposed Dy TIE eAaFeh1o ooo ".''sS
Iessary depreciation in the svalne OF the
/ fcurrency. ~ &t's -
/ The returns of the Produce Loan sBu-
reau are submitted with the report, and
| the informatiop is conveyed, that the
! Treasury Agency in tile trans M sslssippl
Department has been fully organized, and
i is now in operation, with promise OF e1n-
cieucy and success.
1 The provisions heretofore made to some
extent for increasing the compensation OF
public officers, ,.tclvil and military, is found
10 be IN some places inadequate to their
support perhaps not more SO anywhere
! than nj in Richmond, and inquiry, with a
1 view to appropriate remedy, is en- nggested
toayour consideration. Your notlce Is al
j so, called to the condition OF certain ofh-
GERS of the Treasury, who were omitted IN
+ The lave heretofore passed for the relief OF
i otiler public officers, as mentloneds'n the
report of the Secretary OF the treasury
i e4-. DEPARTMENT OF WAR. #s $50
t The condition of the various branches
| of the military service is stated in the &C.
|. companying report Of the Secretary OF
War, Among the suggestions made Tor e
! legislative action with a view to acc to
the numbers and efficiency OF the army,
! all Of which will receive your con sldera' el
tiun, there are some prominent topics
i which merit special notice. =. 3. J
! The exeap plion from military duf J. now F0.
j accorded by law to all persons ngagsd -
certain speciic pnrgnits or professions pis