The weekly Ottumwa courier. [volume] (Ottumwa, Iowa) 1857-1872, 1864-12-15

SIS, ,S42 ,568. II, as before stated. For Ia
actual receipts and, disbursements FOR, tn
first quarter, and the estimated receipts an,
disbursement for three remaining quarter, r
of the current fiscal year, and the genera
operations of the Treasury in detail, 1 rreefe
you to the report Of the Secretary Of tn,
Treasury. concur with hint bin 10 the opin . 10
ion that the, proportion of the monies re re
quired to meet the expenses cons consequen
upon the War derived from TAXATION should
be stillifur ther increased. and earnestly
invite your attention 10 10 The subject, 10 10 th.
end thar there may. be snoh,adaitional, leg
islation as shall besrdqmred aBdiest the jasI
expectations ofthe Secretary.
as The public debt on che, slitst daU Of q uly
last, as appears by theSbooks- s6f thss Trsss
arys amesned,se q .1As spsb bss,5p. Pro
badly, should thA.Nsr sJpqnsiase fer sRethsl
tysasF TINT tsnss1stsmsF b j9eEad1h 1hE-nol
farsspa s1eQg4pq;ppa I'D, Wifys, fo'
the most part hy .our-own. people. il. has be-
cdmsl q fsibstshti6lO bisAcf dfsnSkfoAa
though private property. Fort5bvfohs ress.
tsons. .sthe more nearly this property .scsn, be
distributediaR the people, the better. To
favor such a general distribution, greater in.
ducements to BecOthev oEIefs might, peri
haps, with good effect and without injury
be presented TO PERSONS OF limited means
With this view suggest whether it might
notsbe'both sexpohcst, ani scompetsnt for
Congress to, provide that limited amount
ofscme future issues Of public securities
might be held Wy any bona n Do purchaser
exempt from taxation, from seizure for debt.
under such restrictions and LIMITATIONS as
might be necessary to guard against abuse
Eof 80 .ipportantIa privilege: This Jvould
enable prudent persons to set ssidea small
annuity against possible day, o., want
Privileges like these. would rerder the pos
session of such securities to the amount
limited, most desirable,to every person of
small means who might be able to save
enough for the purpose. The great adyan-
Ftage 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 aet a.
The public debt, OF the list day of July
last, although somewhat exceeding the ses.
tinates Of the Secretary of the Treasury,
made to Congress at the commencement of
last session, falls short of the estimate OF
that officer made m the preceding December,
as to its probable amount at the beginning
Of this yea-. by the sum of IS 1895, ,079.3s.-
This fact EXHIBITS ! satisfactory condition
and conduct of the operations e the Treas
ury. '''''i : I. .at's.. M, sSs I =
The National Banking system is proving
to be acceptable to. capitalists and to tho
people. On the 25th of November. i've
hundred and eighty-four National Banks
had been organized, q considerable number
of which were conversions from State Banks
Changes from the State system to the Ma.
tlonal system are, rapidly taking place, and
it is hoped that very soon there win be in
the United States no bsnk Sfsissds stEt au.
lhorized by Congress, aud no bank note cirs
culation 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 > National sys.
tenn viii create reliable and permanent in
fuence IN support ofthe national credit, and
protect the people against losses in the use
Of paper money Whether or not any fur
ther legislation Is advisable for the suppress
sion Of the State Bank issues, II will be for
Congress to determine. 1t seems quite
clear that the Treasury cannot be satisfac-
torily conducted unless the Government
can exercise restraining power over the
bank note circulation of the country.
The report of the Secretary, Of War and
the accompanying documents, viii de tail
the campaigns Of the, armies in the field
since the date of the last annual message
and alsoithe operations Of the several adj
ministrat;ye bureaus. of the War Depart
ment during the last year. It will also
specify the measures deemed essential for
the national defense, and 20 keep up and to
supply the requisite military force. y. .sa i9 81
The report 0f ths Fseerskryt tof the Navy
presents a cunurehensiye and satisfactory
exhibit Ethe. affairs ofs thats Department,
md or the naval service It is subject Of
and laudable pride to our
country,neo, that Navy Of such vast pro-
portions has been Organized in so, brief 4
period, and conducted with so much eff.
cheney AMI success, The general exhibit Of
the navy, including vessels under cdnaruc-'
ton. on the 1st Of Dec, 1854. shows total
Of OF vessels carrying 1910 guns and 8 o..
800 tons, being an ctual1increase daring the
year. over and above oil losses BY shipswreck
or in battle, Of 50 vessels. le1 g1ni and AZ
AT tons. The total number of men at this
time in the naval service, including officers,
is about 1000, There have heen captured
BY the negy during the year 3s4 vessels, and
the whole number o. naval captures since
hostilities commenced is 1900. ofwhich EST
are steamers, The gross proceeds Arising
from the sale Of condemned prize property,
thus far reported, amount toe Il 1896, a50, Oh.
Alargs amouni Of such proceeds is still un.l
der adjudication and yet to be reported =
The total expenditures Of the navy depart.