The south-western. [volume] (Shreveport, La.) 1852-1870, 1864-01-13


secure the several objects of reduction of the
circulation within fixed, reasonable limits; of
providing for the future wants of the govern
ment; Of furnishing security for the punctual
payment of interest, and final extinction of the
principal Of the public debt; and of placing the
whole business of the country on a basis as near
specie standing as is possible during the con
tnuance OF the war. | earnestly recommend it
to your consideration, and that no DELAY be per
mitted to intervene before your action on this
vital subject | trust that it will be suffered to
engroSs your attention until you shall have dis,
posed OF It III the manner best adapted 10 attain
thelmportant results which your country antci-
pates from your legislation
1t may be added that, in considering this sub
ject, the people ought steadily to keep in view
that the government in contracting deb. is but
their agent: that its debt is their debt As the
currency is held exclusively by ourselves, it is
obvious that, II each person held treasury notes
in exact proportion to the value of his whole
means, each would in fact owe himself the
amount Of the notes held by him and, were il
possible to distribute the currency among the
people IN this exact proportion, tax levied on
the currency alone, to an amount sufficient to
reduce 1t TO proper limits, would afford the best
Of all remedies.
Under such circumstances the notes remaining
IN the hands of each holder, after the payment
OF has tax, would be worth quite as much as the
whole sum previous held, for it would purchase
at least an equal amount of commodities This
result cannot be perfectly attained by any device
Of Legislation, but it can be Appropriated by
taxation tax on all values has for its effect,
not only to impose due share of the burthen
on the note holder, but to force those who have
few or none of the notes, to part with a share Of
their possessions to those who hold the notes in
excess, IN order to obtain the means of satisfy
ing the demand of the ax-gather. This is the
only mode by which it is practicable to make all
contribute as equally as possible in the burthen
which all are bound to share, and it is for this
reason that taxation adequate to the public ex
igencies, under ourpres ent circumstances, must
be the basis of any funding system or other rem
edy for restoring stability to our fianances.
10 the report OF the secretary of war you are
referred for details relative to the condition of
the army and the measures of legislation re-
CURED for maintaining its efficiency recruiting
It's numbers, and furnishing the supplies neces
sary for It's support.
Though we have lost many of the best of our
soldiers and most patriotic Of our citizens, (the
sad but unayoldablv result of the battles and
tons OF such campaign as that which will rem
der the year 1858 ever memorable in our annals,
the army is believed to be, in all respects, in
better condition than at any previous period Of
the war. Our gallant defenders, now veterans
familiar with danger, hardened DIV exposure and
|
priTations with cheerful forttude, and even well
come battle with alacrity The officers, by ex-
perlence IN held service and the action Of exam
lining boards in relieving the incompetent, are
4 now greatly more efficient than at the commence
mentof the war. The assertion is believed to be
fully justified, that regarded as a whole, for
character, vaIOr, efficiency and patriotic deyo-
ton, our army has not been equaled by any
ike number Of troops in the history of war.
In view OF the large Consumption recently or
! dered by the enemy and their subsequent call
fer volunteers, to be followed, if Intellectual by
a still further draft, we are admonished that no
effort must be spared to add largely to our efec-
tive force as promptly as possible The sources
Of supply are to to be found by restoring to the
army all who are improperly absent, putting an
end to substitution, modifying the exemption
law, restricting details, and placing in the ranks
such OF the able-bCdied men now EMPLOYED as
E wagoners, nurses, cooks, and other employees
as are doing service fo2 which the negroes may
be found competent.
The act Of 18th april, 1862, provides "that
persons not liable to duty may be received as
substitutes tor those who are, under such regU-
latlons as may be prescribed by the secretary Of
! war" The policy OF grantng this privilege has
not been sustainedby experience. Not only has
! the numerical strength Of the army been seri
. ousy impaired by the frequent desertons fol
which substitutes have become notorious, bu
mas oeen excited among tnoS
WnG are unaole or unWllngto avail themselves
oI me opportunity mus afforded OF avoiding th
t LlilncSa Ear service OF tnelr country
e luny concur "a 1ne OPINION expressed by th
: secretary, tnat that there IS no ground TOT IN
J o2jeC.Ion Inat ne" provision, to include thoS
, VINO l9fhlSneo SUBSTITUTES underline former call
+ would be a breach OF contract To accept a sub
80 W GoiieI PlI'lege' hoC 10 ehter III
: conITaGI} ana whenever the substitute IS rem
S aG5eu Ilaole 70 conscrlpuon, II would seem
/ lo oi tnat Ghe principal, whose place he ha
il Sanen, 2A i, respond Tor nm, as the go!
erille1e nag received no consideration Ior ~
e exemption; Mnl,efe' however, the new ProVlSlo
It OF IA" YOU'D 1ali TO embrace a substitute now
r Ille 'nNo' SIeIe app IL Cne prhciPaI shoai
t t5"in ~ 0oIoGiloou' ~ We 'tu equitaoie 8iouh
o fof compensation TO the conscnpt, VINO the
is Woula nave aaoed TO Jhe service soldier nc