The daily Gate City. [volume] (Keokuk, Iowa) 1855-1916, 1864-08-02


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s3ssssd ~ ~ RSah II abn1A ao1lQl1|
| yo0r reaoy oqM9denoe. 4uoh tnots HI
- nod ~ shaks pablie faith il our
netionai ere3it both = hope end sbgopd.
IL va ~ nave nsked no foroign Nd
Calm and n-rsliA1t, our ovh laSans
thus fst haze proved adequate . or
w6it6. 1hey ars Jet ample % meet thogs
u tie present snd fat1fs.s Il still re-
usisi for sspssfiotis people 20 Surnsh
sha rsedfnl shpply.ss Il Il aisrpi:S ~,
The bravo men who ara fighting our
battles BY land and SEA must be fed and
elothed. Munitions ~ wsfs Of I'll kinds
ntst b furnished, Of the var niust end
in defeat 6ad digtaee. This u NOT the
4 time Or any lover Of his cosutry to In
'lquire i6to the stsss Of the money market,
Or oak whether he eaa % invest his sur-
Iplus capital a. % yield him 4 larger ~
turn. No retnrn and no .prU6t can be de.
sirsble il followed BY national dissolu-
ton or national disgracs4 Present profit
thus acquired n but the precursor Of H.
ture and speedy destiuction. No invest
ment can Be 50 surely profitable q that
(which tends to assure the national exist
Ience. i am encouraged in the bslief thai
lby tha recent legislation Of Congrvss oar
I6nances msy soon be placed upon =
sounder and more stable footing. The
presns deranged condition Of the 'curren.
: ~ is imputable, in great degree, to dis
turbancss arising from the withdrawal q
! necessary checks. often inevitable il Time
. iof var, whom the expenditures muss large
LAY excssd any possible supply Of coin.
: Tue, opportunities thus presented 70 40.
|. quire sudden wealth have led 70 vicious
o speouIsuons, .. consequent increase o
], prices and violent Hsctuations.
The remedy is 70 be ionnd only IN con
= trolling the necessity which bsgsts thu
: evil. Hitherto We hare fels ths need o
= more extensive and vigofoss ,axaliop.-
Severe comment has been mads upog
: what seemed to many a. undue timidisl
and tardiness Of action on the part o
/. Congress in this regard. deemit bu
just 70 say tina. very great misapprehen
sion has existed, and perhaps still exiAt
: upon this point. Legislators, like u
tothers, have much to learn in I Bss
loondition Of affairs. An entirely ne,
u sysi EN- was 70 BE- devised. and that ysteu
must necessarily be the growth Of tim
and experience. Il is not strange tina
tho FIRST efforts should. have proved i'm
y perfect and inadequate. To lay heAv,
o burdens on great aud patriotic peopl
y IN such manner as 10 equal. and SO .
y to occasion the least amount OF suAesin
J. or annoyance, requires time, and cantor
j. and vast labor; aud with all these expert
u ence is needed to test the value OF th
system and correct its errors. Such hs
}. been the work that Congress was oalle'
upon to perform. l am happy to 60,
= thai daily results are proving the Interns
;, Revenue act to exceed 10 efficiency tn
!, most sanguiDe expectations Of its authors
q For the month Of June, 1864, il yield
u ed about four and half millions of dol
;. lars, while the. corresponding month q
II this year returned about fifteen million
3 under the same law Under the new law
e which went into operation on the first da
: Of the present month, the Treasury fire.
= quently receives one million in day. A
: time and experiences ensble the officer
= employed in collecting the revenue to en-
: force the strength Of the provisions Of tn
: new law, / trust that million per do,
! will be found the rule, and not the exccp
. ton. Still, much space is undoubtedl
: left for Improvement in the Law and il,
' administration. As . greater amount o
! necessary information is required, tn.
proper source of revenue and the mos
; effective mode of Obtaining it, are th,
: best developed in the execution Of the ex
isting laws; and have caused measure,
: to be initiated, which will, it is believed
!, enable Congress SO 10 improve aud en-.
: large the system as, when taken in con
: nection with the revenue from custom.
. and other sources, to afford an ample ana
y secure basis for the national credit. Onl,
: on such basis, and ia steady and Wig.
e orous restraint upon the currency can /
. remedy be found for existing evils. g
Such restraint can pniy be exercised
when the Government IL furnished with
means to provide for its nscessAries.--
. But without the aid Of . patriotic people
the arm of the Government 10 poweflea.
for this or any other desirable end. Thu
> denomination of the notes proposed to b
I issued, ranging from Eve to Eve thoss
and dellars, places thsss securities within
: the reach Of all who are disposed TO aid
their country. For their redemption thu
faith and houor and property u the
Z coaDsry are selennly Yssdged.s A sac
, cesoful issue to. this cCnfAst, now believed
: TO be near ct hand, via largely enhance
4their valne to the holders, and, peace
! once moro restored. al burdens can b
d IscLe1r = - -.fc-lt-