The Nashville daily union. [volume] (Nashville, Tenn.) 1862-1866, 1864-12-08

must bosd themselves at liberty TO inerees
their naval armament upon the Lakes
they shall find that processing necessary.
The condition ofthe border viii necessa
rily come 10 confederation with the auestio
of continuing OF modifying the rsghts Z
transit from Canada through the Unite,
States, as well as the regulations Of the I'M
Portss which were temporarily establishe.
by the ReciprOeity Treaty, Of the sth Q
June, 1854, desire, however, 70 be under
stood while making this statement- TIT
Colonial authorities sFe not deemed 70 be in
tentionally unjust, or unfrieRdIy tsward
the URited States, button the contrary, Their
is every reason TO expect that With thsnp
| proVal Of the Imperial Government the,
will take the measures to prevent incur
sions across the border. The act passed 3
1 the last session for the management Of Em
igration, has Is far as possible been put into
| operation. Il seems 10 need amendment
| which will enable the officers Of the Gov.
eFnment to prevent the practice Of frandl
against the emigrants while on their way
and on their arrival in the ports, 90 as to
secure them here free choice OF avocationi
and places Of settlement. a liberal diapo-
sition towards this great national policy il
manifested by most Of the Europesn States
and ought to be reciprocated on our part BY
giving the emigrants effective national pro-
lection.
Iregard our.semigrants a. on eOfths prin-
cipal replenishiug streams which is -ap-
pointed by Providence 70 repair the ravages
Of internsl war snd its waste Of the national
strength and wealth. All that is necessary
is to;secure its flows of the essential and pres
ent fullness, and to that end the Govern
ment manife,t that il neither needs nor de-
sires to impose involuntarily miIikary SER
vice upon those who come from other lands
to cast their lots in our country. The fnan-
cial affairs Of the Governments havs been
successfully administered during the last
year. The reqnisition of the last session OF
Congress has benefcially affected the reva-
nue., although sufficient time has not elapsed
to experience the fall effect Of several OF the
provisions of the act of Congress imposing
increased taxation. The receipts during
the year from all the sources upon the basis
Of warrants, signed by the Secretary of the
Treasury, on the first day Of July, 1858,
were $l3e, Az, ,607 81, and the aggregate dis
bursements upon the same basis were $l,-
29S, ,059, $40 50, leaving q balance in the
Treasury, as shown by warrants, of s99,-
673, $50 73.
Deduct from these amounts the amount
of the principal Of the public debt redeem
ed and the amount Of issues in substitution
thereof, and the amount Of actual cash op-
erations Of the Treasury were, receipts,
$8S4, ,076, ,6z6.77; disbursements $865, %, ,0o7 :
Sc, which leaves acash balance in the Treas-
ury of $ls5, Az, ,55s.ga; Of the receipts there
were derived from customs SIQ2, ,Si6, ,I52. 80;
from Lands $685., 1888 %; ffon direct Taxes
SAYS, ,64S.96; from Internal Revenue $l09,-
74l, ,I34.l0; from miscellaneous sources $4T,-
l,4I3.IO, and from Loans applied to actual
expenditures, excluding the former balance,
$e23, Az, ,92s.I3. There was disbursed for
the civil service, S297, sos 1894 for PEN
sions and Indians, $75, ,7T9, ,309.17; for the
War debt S607 ,9iS ,42e; for the Navy $685.
73S, ,202, 90; for Interest Of Public Debt $685.
854, ,2l6,09, making an aggregate Of $685.
234, ,087 SO, and leaving q balance in the
Treasury of SIS, ,e4z ,558.9l, as before stated.
For the actual receipts for disbursements
for the first quarter, and the estimated re-
ceipts of disbursements for the remaining
quarters of the fiscal year, and the general
operations Of the Treasury in detail, refer
you to the report of The Secretary Of the
Treasury. concur with him in the opin-
ion that the proportion of the moneys re-
quired TO meet the expenses consequent
upon the war, derived from direct taxation,
should be still further increased, and earn
estly invite your attention to this subject,
to the end that there be such additional
legislation as should be required 20 meet
the Just expec atoms of the Secretary.
The public debt on the Let day Of July
next, as appears by the books Of the Treas
urer, amounts 10 !, ,740 800 ,4s0,4 dollars, and
probably should the war continue for anOth-
er year the amount may be increased not
far from 500 900, 900 dollars, held IS il is for
the most part by our own property, it has
become q substantial branch OF national as
well as private property. For obvious rea-
sons, the more nearly this property can be
distributed among all the people the better;
for such general distribution and greater in
ducements to become owners, might per-
haps, with good effect and without injury,
be presented TO persons Of limited means.
With this view / suggest whether it % ght
not be deemed expedient and competent FIR
Congress to provide that limited amount
of future issue Of public seeurisies. It
might be held BY g bona fde purchaser, ex-
empt from taxation, and from other sscuri-
ties, for debt and such restrictions, and lim-
tied as might be necessary TO guard against
abuse Of Important privileges. This would
enable persons 70 set q ANAL annuity
against positive day of want. Privileges
like these would render the possession Of
such securities to the amount limited, most
desirable TO every person Of small means,
who nsightrbe able to save enough for the
purpose; the great advantage Of citizens
Deing creditors as well as debtors with rela-
ton to the public debt is obvious when they
readily perceive that they cannot be much
oppressed by debt which they owe 70 them
selves. The public debt on the first day of
July last, although someWhat exceeding
the estimates of the Secretary Of the Tress-
ury made to Congress st tthecommeneement
of last session, nails short Of the estimate
- n -. Il.
probable amount at the beginning Of this
wear BY the sum Of $3.50, se7 ,9es. This fact
exhibits a satisfactory. condition and con
duct of tho operations Of she Trsasury.
The National Banking System il proving
to be acceptabls 70 capitalists and 10 the
people. On the 25th of EoyembeF, five hun-
dred and eighty-6ve Gational Banks had
been organized, q considerable number Of
which we're conversions from state Banks.
Changes from the State system 10 the Ma
ticnAl system are speedily tsking place, and
it is hoped that very saOn there VIII be in
the United States no bank Of issue not aa-
thorized By Congress, and no bank note cir
culation not secured By the 0oyerRmeut.
That the Government and, The people viii
derive general benefit from this chSngs in |
the banking system of TIE country can
hardly be questioned.
Inc G9tlcH4t ty8t8m VII cfeBle . folta- |
BILE and permanent influences IN support Of |
the National credit and protect the people |
against the loss in the United stetss Of pa |
per money. Whether, or not any further |
legislation 10 advisable or not for the sup |
preston Of State Bank issues Il viii be de- |
iermined. 1t seems quite clear that the |
cannot be properly conducted, un-
less the Government can exercise q restrasn-
ing power over the bank note circulation /
Of the country. The report Of the Secretary /
War, and the accompanying documents,
will detail the campaigns OF the arnies in
the field since the date OF the last snnusl
message, and also the oporations Of the ssy-
erai Bureaus Of the Var Department, da-
ring the past year. II wiz alec spseify the
deemed essential Tor t6e North /
way defence, and % keep up she supply Of
military force The report ef the Secretary
Of the Navy, presents aeonpreheusiblsan and
exhibition Of affairs of that De-
and Of the Naval ssrvics. lis
subject Of congrat1lstiOn and laodabIe
praise to our countrymen that q navy Of /
such vast proportions, has been orgAnizsd
ia 30 brief 4 period, and conducted with -
much eflsiency end success, The general
exhibition Of the Navy ineiuding vessels
under construction from the Ist Of Deem
DeT, 1854, shows . total Of 67f, carryinR
!, go guns, 81, ,e66 tons. being &c actual IN
crease during the year over aad aboye all
Ioss, and By shipwrsek and battle, Of
$ vessels aud le7 gaasand 4,551 tons. The
IosaI number Of men at this time IN the
naval Services inelndinR the otiosfs, is
,bous 81 coo. There s1srs hSon aaptarsd
By the navy during he year 81 vessels,