M'arthur Democrat. (McArthur, Vinton County, Ohio) 1853-1865, 1864-12-15

though private property. For ohVi'
Gus reaaons. th1 more nearly this prop
crty can be distributed among all the
people, the better. To favor such
general dis,rihntiun greater induce
ment5 to become owners might per
hap5, with good eifici, AMI without
injury, be presented 10 persons ot linn
lte1 means. Witl this view. ! sug-
gest whether il mightn OF be butn ex-
paiicnt and cDmpetant tor Congress
to provide that a Iipi'cd am nn: oi
somo future issue of public securities
m'ght be held by auV bpns .f'is pur-I
chaser exempt from taxation and s"z
ure rom debt, nndor such reitrlctl0ns
and i'm tations as might be necessary
10 guard Against abuee oi 90 irnpor
tam A privilege. This would unable
lprudent parsons to Sc: aside q small
unnnity gainst possible hay Of want
Privileges Ike these wnnIi renIrr tn1
possession Of such securttie3 to tho
amount limited must desirable to Nv
cry person Of small means, VINO m ikht
be able to save enough for that "nr
po3o. The great advantage. y, crtz'nS
being creditors rs well ~ debtors,
with relation to the paOlic debt, is Oh
yiOus. Men really perceive that
tucy canno; be much oppressed by a
debt which they owe to tucmseIvys.
| The public debt on the lst day Of Jn
Ily last, although som Whist exceed NJ
the estimate Of the Secretary Of the
: Treasury, made to Congress at the
commencement OF last session, 'all6
sport of the estimate Of that 9th ,er
made in the preceding December, ~
t. its probable amount at the ba'n
ming Of this year, By tha sun OF o393
5O7, 933. This fact exhibits haLls
factory condition and con luct Of the
operations Of the Treasury. .....
The National Banking system ID
proving to be acceptable to cap'tai'sts
and To the -piopIo On tho 25h o
i November, tiva hundred and eighty
four National Baak3 have bsen nrsan
.Iiz,d. A considerable nnmber d
which were conversions from Stat,
+, Banks. Changes from the State sy>
ten to tho National system are speed
ly taking place, and it is hoped tha
very soon there VIII DO in rno UHi'e'
States no Bank OF Issue not anth"ria
ed by Congress, and N Bank not viii
ita circulation 40 secured by the GoV
ernmcnl. That the Government an.
the people will derive genera beneli
from this change in the banking sY'
tems Of the country, can hardly b.
questioned. the Ra'ipnAl srstem vii
create n reliable and parmHnoht irl
ence in support Of the Na'i'nal credr
and protect the people sgni"st Jesse
in the United S.atoS Ol paper money
Whether or not any fnrhsr IegOIatIrr
ia advisable for the suppression q
State Bank issues. it will h9 tor L -
gress to determinJ. lc eo3u5 4iite
G,ear that the Treasury ctn npl .. "a
istact1rily couhucled, ua.oa3 tl' Il ~
ernmsut can exercise e rtslrAlnn-
power over The Bln& aule c1"cQ.ailoL
Of the country.
This report Of the s crotary q Wa
aul accompanying documents wi
detail the can1paisns cf th5 arln'es It
the field. since the date OF isst aDnaa
tmassage, and also the operations o
the several administrative Bureau'
Of the Wat Department daring 'h'
last year. It will sIso .5rs,'y ~,
measures deemed essentll mg~cipt
tional defense. and to k,cy ~ nu.
supply the requisite mirrA'y iosF
The report OF the Secretary OF th'
I Navy presents a c6mpr@hensve an(
satisfactory exhibits OF the affairs Q
}, that depafcmcnt OF the navel service
1t is a subject Of congra:uiatio1 81.
: iau liable pride to cur eopntrymcL
thst = navy OF sucn vast proportion.
I has been organ,z'd 10 e. briet q per
iol and coniucel with so much es-
: ticiencY snd sugcee,' The gehera
exhibit oftbe a4gy, in&lnIiag yu5sei.
under construction from the Fret 0
December, 1864 show5a total ot 81
vessels carrying 1910 guns ard 5lg
39G tOns, being an actual incrca =,
r turing the year, over AL ab ~ al
+ losses by shipNreck az n bit,Ie, .
, SO ycsseIs, 167 guuI, and ~ 427 toas
. The total nun Ser OF nan At this tim.
t in The naval sci vic. ineladiug "tEee.s :
ia about 1000. There have bs |
capturei by the Navy duriug tn
{ year, ,324 vessels, and shs whole Guu
t Der OF navei captures since hostiliNe
1 commented, are 1,Seg, OF which 26
| are steamers. The gross procead
! arising from ;he sale Of condsSIiItt
3 prize property thus far reported
!, ,,,,,t "a GA .QQg ,ssn KI A lug