Dayton daily empire. [volume] (Dayton [Ohio]) 1850-1865, 1864-12-07


s42,55S n, as before stated For the actual
receipts aud disbursements for the three re-
mAining quarters OF the fiscal J, ar, aud the
general operations OF the Treasury in detail,
| refer you to the report OF the Secretary OF
the Treasury
INCREASE OF DIRECT TAXATION.
concur with him in the opinion that the
proportion of the moneys required to meet
the expenses consequent upon the war, de-
rived from taxation, shall be still further in
creased, and | earnestly invite your attention
to this subject TO the end, that there may be
such additional legislation ~ shalt be required
20 meet the just expectations ot the Secretary
THE PUBLIC DEBT.
The Public Debt on the 81 day OF July last,
as appears by the books OF the Treasury,
amounted to one billion, seven hundred aud
forty housand millions, six hundred and nine
ty thousand, four hundred and eighty
dollars aud lorty-nine cents, Isl, 740G9O, ,4s9,-
49) Probably, should the war continue Tor
another year, this amount may be increased
by not far from five hundred millions.
Held as it is, for the most part, by our own
people, it has become n substantial branch OF
national, though private properly For oh
yious reasons, the more nearly this property
J
better To favor such general distribution,
A greater inducements to become owners, might,
4 perhaps with good effect, and without injury,
I he presented to persons of limited means.
With this view suggest whether it might not
I be both expedient and competent for Congress
\ % provide that II limited amount OF some fu.
4 ture issue of public securities might be held
N by any bona fde purchaser exempt from tax
\ alton aud from seizure for debt, under such
g restrictions aud limitations as might be nee
Z essary TO guard against abuse Of so important
\ a privilege THIS would enable prudent per
a sons TO set aside a small annuity against q
\ possible day of want Privileges like these
VI would render the possession of such securi
NJ ties, to the amount limited, most desirable tC
n every person Of small means, who might b,
n able to save enough for the purchase. The
n great advantage Of citizens being creditors as
u we'll as debtors, is obvious Men readily per
\ ceive that they cannot be much oppressed by
" debt which they owe to ihemaeves
H The public debt, on the first day of July las
n although somewhat exceeding the estimate
\ OF the Secretary Of the Treasury made tt
Y Congress at the commencement OF last session
h falls short Of the estimate of that officer made
| in the preceding December, az to its probable
Y amount at the beginning OF this year, by thu
sum OF SO ,079 33. This fact exhibits
(, satisfactory condition and conduct of the ope
ratons of the Treasury
NATIONAL BANKING sYaTEN
\ The National Banking System is provin
to DO acceptable TO capitalists and to tho pee
ple On the 25lh Of November five hundre
aud eighty four National Banks had been o
panized, a considerable number OF which wer
from, Stnta Ranbs Nban1ao frof
the State system to the National system ar
rapidly taking place, and it is hoped that yer
/ soon there will be in the United States n
bank OF issue not authorized by Congress, an
\ no bank note circulation not secured by III
Government That the Government and Ih
people will derive general benefit from tn
: change in the banking systems Of the c0uutI
cLn hardly be questioned. The national sy
\ tenn will create reliable and permanent il
Huence in support of the hationG credit, an
! protect the people against losses in the use
paper money. Whether or not any lurth,
4 legislation is advisable for the suppression
= State Bank issues will be for Congress l.
4 determine.
1t seems quite clear that the Treasury ca,
4 not be satisfactorily conducted unless the Go
ernment can exercise u restraining power Ovl
the bank note circulation Of the country.
Il u INVALID SOLDIERS, WIDOWS AND ORPHANS or so
IN DIERs.
The liberal provisions IA invalid soldie
!. 4 aud sailors of the Republic, and to the VII
4 ows, orphans, aud dependent mothers Of tho
;. \ who have fallen in battle, or died of disea
=, / contracted, or OF wounds received in the SO
\ vice OF their country have been diiigent
:. 4 administered
|, There bave been added TO the pension ro
during the year ending the 30th day OF JuI
!. last, the names OF 1910 invalid soldiers, NJ
OF two hundred and seventy one disabled ae
men, making the present number of Army
,. valid pensioners, %, 1867 aud of Navy inval
pensioners 7l2; of widows, orphans and m
theirs ~, l99 have been placed on the arm
/ pension rolls, and 2ls on the navy rolls II
, present number of army pensioners Of tn
?. class is %, ,433 aud of navy pensions, 10
=. At the beginning Of the year. the number
revolutionary pensioners was ,430 On
twelve of them we're soldiers, Of whom sev,
;, have since died, The remainder are tho
III who, under the law, receive pensions becau,
!, Of relationship 10 Revolutionary soldier
! During the year ending the 3Oth Of Jnn
a. 1868, $4j0,46 % have been paid TO priso
= ers Of all classes
a. THE REBELLION
IN Inc war continues since the last annu
N message All the important lines, as then
.cupied by our forces, have been maintAme
and our armies have steadily advanced; III
liberating the regions left in the rear, so III
70 Missouri, Kentucky, Tennessee and parts
= other States have again produced reRsonal
y fair crops. The most remarkable feature
~ the military operations of the year, is G'
o. .Sherman's attempted march Of three ht
% .dred miles directly through the insurgenl
y .gion. 1t tends to show a great increase of q
g relative strength, that our General-in-Ch
~ should feel able TO confront and hold in che
y every active tsgce VI the enemy, aud yet
- detach a WelLappointed large army to INC
a- .nn sneh an nNnahiIinn Thn reanlI moi vet