Holmes County farmer. [volume] (Millersburg, Ohio) 1857-1926, 1864-12-15

! POSSESSION O1 sucn Sccur1ucs 10 the amount
limited, most desirable TO persons Of small
means, who might be able to save enough
for the purpose The great advantage Of
citizens being creditors as well as debtors.
with relation to the public debt is obvious.
Men readily perceive that they cannot be
much oppressed by debt which they owe
to themselves. The public debt on the first
day of July last, although somewhat exceed
ing the estimate of the Secretary Of the
Treasury, made 10 Congress at the com
lmencement of the last session, fell short of
the estimate of that officer, made in the pre-
ccding December, as to its probable amount
at the beginning of this year, by the sum
1896, ,079,33. This fact exhibits salts
factory condition and conduct Of the opera
tions Of the Treasury.
NATIONAL BANKS.
The National Banking system is proving
to be acceptable to capitalists and to the
people. On the 18th of November five hun
dred and eighty-four National Banks had
been organized, a considerable number of
which were conversions from State Banks.
Changes from the State system to the Ma
tional system, are rapidly taking place, and
it is hoped, that very soon there will he in
the United States, no bank of issue not un-
authorized by Congress, and no bank note
circulation not secured by the Government.
That the Government and the people will
derive general benefit from this change in
the banking system, can scarcely be qucs-
toned The National system will create a
reliable and permanent influence in support
of the National credit, and protect the pco-
pie against losses in the use paper money.
Whether or not, any further legislation is
advisable for the suppression of State Bank
| a ,J.4
1t seems quite clear that the treasury cannot
be satisfactorily conducted unless the Gov
crnment can exercise restraining power
over the bank note circulation of the country.
MILITARY AFFAIRS.
/ The Report of the Secretary Of War, and
the accompanying documents, will detail the
campaigns of the armies in the field since
the date Of the last Annual Message; and
also the operations of the several administra-
tive bureaus of the War Department during
the last year. 1t will also specify the meas
ures deemed essential for the National de-
Tense, and to koepup and supply the requi-
site military force.
NAVAL AFFAIRS.
The Report of the Secretary of the Navy
presents comprehensive and satisfactory
exibt Of the affairs Of that department and
Of the naval service. 1t is a subject Of con
graduation and laudable pride to our coun-
I trymen that a navy Of such vast proportions
has been organized in so brief period, and
conducted with so much efficiency and sue
cess. The general exhibit Of the navy, in
Guiding vessels under construction on the lst
of December, 1864, shows total Of GIL
vessels, carrying 1910 guns, and 5lo,39j
TONS being an actual increase during the
year, over and above all losses by shipwreck
or in battle, Of SO vessels, lG1 guns, and 70,
427 tons. The total number of men at this
time in the naval service, including officers
is about 81 900. There have been captured
by the navy during the year, 329 vessels
and the whole number of naval captures
since hostilities commenced, is 1900, o.
which 267 are steamers. The gross proceeds
arising from the sale of condemned priz,
property, thus far reported, amounts tc
$l4, 396, 250 81. a large amount of sucl
proceeds is still under adjudication and yet
to be reported. The total expenditures OF
the Navy Department, of every description,
including the cost of the immense squadrons
that have been called into exiStance from
the 4th of March, 1864, are $23S, ,641 ,262 80.
Your favorable consideration is invited tC
the various recommendations OF the S,ecre
tary of the Navy, especially in regard to ;
r"'! anu gnu nui,"oo cH'ac iiehiiiohU ~
f the construction ana repair oil IRON nessel
and the machinery and armament Tor ou
SHIPS, to which reference was maze IN m!
last annual message. Aourattcntloh Is als'
invited to the views expressed IN the repor
in relation to the legislation of Congress "a
its last session, in respect to prizes on our in
2 mnndat;on Of tba Secretary rs to tbc nro
: nr;ntv Of croot;ng the. new ranE of Vice Ad
= m;,oj in our naval service
e Vnur attention ;s ;nv;tod "a tbo Ronort n
e the postmo ster General far y detailed renor
S Of the oncrationS and financial condition Q
c The Posi- 0iI;ca Danart,nnnt Tho most.
n rnyonuo u for tbe voar nnd;nr Juno 3ntb IsfI
h amounted to SO 43S o53 IS and The o,
$ nnnd;tnros sIoG1l 80 90 Tbe avcnss ZOOS - =
: avnond;tnros oyor roco;ntS bo;ng sonG G5.
n 10 Tbe views messed bv tbn postmas ste
General IN the snh;ect Of SSnaciol @rants i
n the Government in aid of tbe esto6lis hmer
5 Of Ocean Mail steamsh;ns and the nolicv h
: rccommnnds for the Jevelo,n onment of ;ncrea.
= ed commercial intarconrsa With adiacnnt an
: neipbborino countries shonld receive th
| careful consideration Of Congress
:, GROWTH OF THE NATION
II is Of fpotewortbv interest that the stcod
, EXPANSION of population. improvement an,
, Governmental institutions over the new an,
unoccupied norton of our country. bav,
scarcely been impeded. much less checke,
or DESTROYED by our great civil war. which a
f the first glance would seem to have absorbed