, 1864-12-07

! bureenents upon the same basis were $l29,-
| 8O5, SIC, ,1s9, leaving balanccin the Treasury,
duct from these the amount Of the principal
I OF the public debt redeemed and the amount
| of issue in subs itution therefor, and the ac-
| tua1 cash opera tions Of the Treasury were !:
receipts. tsA, ,o76, ,Gi0.T; disbursements,
S s o S. whlsn n s1s }sasss cash e. balance {ha
celpts there we're derived from customs, $103, :
sic, 1920; from lands, 65s8, ,3s3.eo; from d.
rect taxes, 81 .564 .896 from internal Tevc-
pue, S109, ,741 1910; from miscellaneous
sources, a ,751, IA 80: and from loans ap-
piled to actual expenditures, including for
disbnrsed for the ciyir service ST sos 500. .46 ;
for pensions and Indians, s7.5T7 ,93o.97 for
tile War Department, s6o,,791 ,8s4423 81; for the
Navy Department, s85. 1888 .292.70; for interest
Of the public debt, S53, ,685, AL 69-making an
ag;gr aggregate Of $sG5, ,ss4, 50. and leaving
balance in the Treasury Of $ls, ,s4a ,55s,71, as
before stated.
For the actual receipts and disbursements
for the first quarter, and the estimated re-
ceIpts and disbursements for the three re-
mining quarters Of the current fiscal year,
and the general operations Of the Treasury In
detail, refer you to the report of the Secre-
tary Of the Treasury. I concur with him in
the opinion that the proportion Of the mo-
ncys required 10 meet the expenses conse-
Quent upon the war derived from taxation
should be still further increased, and ear
ncstly invite your attention to this subject,
to The end that there may be such additional
Legislation as shall be required to meet the
just expectations of the Secretary.
TIE PUBLIC DEBT.
The public debt on tho first day Of July
last, rs appears By the books Of the Treasury,
amounted to 81, ,69o, ,4S9.49. Probably,
should the war continue for another year,
that amount may be increased by not far from
$500, 600 GOO. Held, al 1t is, for themost part,
by our own people, 1t has become substan-
tia1 branch Of National though private pro-
pcxty. For obvious reasons, the more nearly
this property can be distributed all the peo-
pie, The better. Tc favor such a general dls-
| lribution, greater Inducements to become
owners might, perhaps, with good effect and
without injury be presented to persons Of
limited means. With this view l suggest
whether It might not he both e1pedient and
competent for Congress to provide thnt
| limited amount Of some future issues of
public securities might be held by any bona
Jde purchaser exempt from taxation, from
seizure for debt, under such restrictions and
limitations as might be necessary to guard
against abuse Of 50 important privilege:
aside small annuity against possible day OF
want. Privileges like these would render
| the possession Of sneh securities, to the
| amount limited, most d csirablc to every per-
| son o. sWaA means WHO mlrTRt De aoIe 10 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
! themselves.
last, although somewhat exceeding the cs-
] Inmates of the Secretary Of the Treasury,
| made to Congress at the commencement Of
last session, iaus short Of the estimate Of that
| officer ,nade in the preceding December, as to
| Its probable amount at the beginning OF this
year, by The sum Of s, 9a5, ,oio:ss. This fact
exhibits satisfactory condition and conduct
| Of the operations Of the Treasury.
THE NATIONAL pASK SYSTEM.
! The National Banking system is proving to
| be acceptable to capitalists aud to the people.
| On the 25th Of November, five hundred and
| eighty -four National Banks had been ors-nn-
| lied, considerable number Of which were
conversions from State Banks. Changes from
the State system to the National system arc
soon there will be In the United States no
bank Of issue not 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 systems Of the
country, can hardly be questioned. The Ma
1iunal system will create reliable aud per
manent- influence in support Of the national
credit, and protect the people against losses
| in the use of paper money, Whether orhot
any further legislation Is advisable for the
suppression Of the State Bank issues, 1t will
be for Congress TO determine. 1t seems quite
clear that The Treasury cannot be satisfactorily
conducted unless the Government can exer
else restraining power over the bank note
circulation of the country.
TIE WAR DEPARTMENT.
The report Of tile Secretary Of War aud the
accompanying documents, will detail thu
campaigns OF the armies in the field since the
date OF The last annual message, and also ths
operations Of the several administrative
bureaus Of the War Department during th:
last year. It will also specify the measure:
to laep up and to supply the requisite mill
tary force
The report of the Secretary Of the Navy
presents q comprehensive and satisfactory
exhibit Of the affairs Of that Department, and
Of the naval service It is a subject Of con
graduation and laudabie pride to our country.
has been organized In SO brief period, and
conducted with SO much efficiency and sue
cess. The general exhibit Of the Navy, in
cluding vessels under construction on The
first Of December, 1864, shows total of GIL
vessels, carrying go guns, and SIC, ,3o0 tons
being an actual increase during the year, ovel
and aboye all losses, by shipwreck 81 II bat
tle, Of Sc vessels, 1G7 guns, and 42 ,427 tons
The total number of men at this time In thu
naval service, including officers, il
a6o9t fna he There n,vA have ane.n ensn At,
naval captures since hostilities commenced Is
| 1,sOO, of which 2G7 are steamers. The gross
| proceeds arising from the sale OF condemned
prize property, thus far reported, amounts to
Sl4 ,39G, go ST. A large amount Of such p' O.
cccts Is still under adjudication and get 10 b.
Nary Department, Of every description, In
Guiding the cost Of the immense squadron:
that have been called into existence from thu
4th Of March, 1861, to the LIST Of November,
1864, are $25S, ,G47, ,e2.3 Yourfayosable con
sidcTation is invited to the various recon-
.pecially in regard to navy yard and suit
able establishment for the construction an6
| repair of ;;;1ccn vessels and the machinery ant
immature for our ships, to which references
was male in my 1ast annual me'sase' fou'
attention Is also invited to the views e1
pressed III the report in relation to the 1egis
fation Of Congress at The last session in r.
spect to prizes In our inlaud waters. I cor
daily concur in the recommendation OF ths
Secretary as to the propricty Of creating til.
new rank of'Vice Admiral In our naval service
POST OFFICE DEPARTMENT..
Your attention IL invited to the report o
the Postmaster General for detailed account
ofthe operations and financial condition Of ths
Post Office Department. The postal revenue!
for the ysars ending June 3oth, 1864, amounted
81, ,G44 ,TSG20. The excess Of expenditure
over receipts being s306, ,G52.4 The view
presented By the Postmaster General on th
subject of special grants by the Government
in aid Of the establishment Of new lines o
| ~ nd hay
commcnds for the development Of increased
commercial intercourse with adjacent ant
ncighboring countries, should receive tl
careful consideration Of Congress.
THE NEW srATH.
| It is OF noteworthy interest that the STEADY
expansion OF population, improvement il
Governmental institutions over the new ant
~unoccnpied portions Of our country hav
scarcely been checked, much less impeded o
destroyed by our great civil war, which o
first glance would seem to have absorbed nj
most the entire energies Of the nation.
The organization aud admission Of the Statt
of Nevada has been completed, In conformit.
with the laws, and thus our excellent system
is firmly established in the mountains which
once seemed barren aud uninhabited waste
between the Atlantic States and those which
have grown up On the coast Of the Pacific
Ocean.
TIE TERRITORIES.
The Territories Of the United States ar'
generally In = condition of prosperity tui
| Tapid growth. Idaho and 3lontanl, by rcaso,
| Of their great distance and the interceptiol
Of communication with them By Indian hos
t:lties, have been only partially organized
but it is understood that these difficulties ar
about 10 disappear, which will permit thei
Governments, like those Of others, to go Init
speedy and full operation.
nEpAET.fhST OF TIE INTERIOR.
A. Y..it