New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1864-12-07


liberty 10 increase their navel armament upon tie
lakes if they shall find that proceeding necessary.
The condition of the Border Will necessarily come
Into consideration in connection WIN the coh'ihn-
5ag or modifying the rights OF transit IRON Nshoda
through tho United States, as well as the regulation
of iInposts which were temporarily established by
the Reciprocity Treaty of the 9TH June, 1891.
desire however, TO be understood while making
this statement that the Colonial authorities are not
deemed 60 be Intentionally unjust unirendly to-
ward tho United States; but on the contrary,
there is every reason 20 expect, that with the ap
proyal of the Imperial Government, they will take
7hs necessary measures to prevent new lncursiohs
across the border.
agement of emigration has, as far as was posslDi''
been put into operation.
IL seems TO need an amendment when VIII ch-
able the officers of the Government 10 prevent ire
practice of frauds against The Immigrants WIlie On
their way and on their arrival in the ports so as 10
pecure them hero q free choice OF ayocatlons ana
places OF settlement. :,
A liberal disposition toward this great national
policy is manifested bymost OF the European SateS,
and ought to be reciprocated on our part by giving
the immigrants effective national protect'on. re-
gard our emigrants as one OF the prihcpal fepieh-
ishing streams which are appointed by Providence
10 repair the ravagcs OF INTERNAL war; anu is "aseS
OF national strength and health.
All that is necessary II to secure the flow o. that
stream in its present fulness, and TO that ED the
Government must, in every way, make II manifest
that il neither needs nor designs to impose inToun-
fsrv military service upon those VINO come IRON
other lands ocast their lot i'll our country. The
financial affairs of the Government have been sue
Dessfully administered.
During the last year the legislation of the last
ueSsiou of Congress has beneiically effected the
revenue Although sufficient time has not yet
elapsed to experience the tuil eNeet
of several Of the provisions of the act OF
Congress imposing increased taxation
Cue receipts during the year, from all sources
hosis of xror
of the Treasury, including loans and the balance IN
the Treasury on the first day Of July, 1905, were
~ ,394 796, 0J7 CO, and the aggregate disDni re
ments, upon he same basis, were 81, 9s, 0?6 lol 81
leaving balance in the Treasury, rs shown by
warrants, of $96,739,oO5 %. Deduct from these
amounts the amount Of the principal OF the pnblic
debt redeemed and the amount OF issues IN substl
luton therefor, and the actual cash operations OF
the Treasury were: Receipts, Sj,o15,oio al ms
lurscments, 1856 234, 0S7 IS; which leaves cash
balance in the Treasury of slS8i2,55s II. OF the
receipts there were derived from customs,
3lo2,3l6,l52 3d. from lands, SoSo S55 ~ fIoni
nal revenue, $lO9,7n,lX TO-; from mis-
relhneous sources ST., 5l ,448 and from loans ap-
piled to actual expenditures, including former BAL
ance, sos 443, 929 49, There were disbursed tof
ahe civil service ssa sos 599 46i for pensions ana
$50 79 $40 81 for the Navy Department, SO, 49,
Boz 10; for interest of the public debt S53 III
49, making an aggregate On S555, ~ oSi 81, ana
ucavlng balance III the treasury OF Slo,oi-0Jo Il
ms before stated.
For the actua! receipts and disbursements for The
first quarter md the estimated receipts and dis
bursements Tor the three remaining quarters OF the
current 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 opinion that thepTopor-
zion of the moneys required 10 meet the expenses
consequent upon the war, derived from taxation,
should be still further increased; and earnestly
anvite sour attention to this subject TO The END mat
There may be such additional legislation as shall be
Fequired to meet the Just expectations OF The secrc
tary.
The public debt on the first day OF Jnly last, as
appears by the books OF the Treasury, amounted 10
Hl740 COG, 489 49. Probably, should the war con-
hinue for another year, that amount may be IN.
preased by not far from five hundred millions. Held
ns it is for the most part by our own people, IT
has become substantial branch OF national though
private property.
For obvious reasons the more nearly this property
nan be distributed among oil tho people the better
To favor such general distribution greater induce
ments to become owners might perhaps with good
effect and without injury be presented to persons OF
limited means. With this view suggest whether
lt might not be both expedient and competent for
Eongress to provide that limited amount OF some
future issue of public securities might be held by
any bona 6de purchaser exempt from taxation and
krOm seizure for debt, under such restrictions and
Limitation as might be necessary to guard against
abuse of SO important privilege. This would ena-
Die prudent persons TO set aside q small annuity
against possible day of want.
Privileges like these would render the possession
of such securities to the amount limited most desT
0be to every person of small means, who might be
able to save enough for the purpose. The great od-
vantage Of citizens being creditors as well as debt
vors with relation to the public debt is obvious.
Men readily perceive that they cannot be much Op-
pressed by debt which they owe to themselves.
The public debt on the LIST day Of July last al
though somewhat exceeding the estimate OF the
Secretary of the Treasury made TO Congress at the
commencement of last session, falls short OF the
sstmate of that officer made in the succeeding De-
hoember as its probable amount at the beginning
Df his year, by the sum of $3,995,O79 80. This
feet exhibits satisfactory condition and conduct
of the operations of the Treasury.
The National banking system .is proving 10 be
acceptable to capitalists and to the people
On the 25th day Of November 53i National
anks had been organized, aconsiderable number OF
which were conversions from State banks. Changes
krom the State system to the National system are
RAPIDLY taking place. and il is hoped that very soon
there will be in the United States 10 banks Of issue
mot authorized by Congress, and no bank Tote cir
,culaton, not secured by the Government. That the
Goyernment and the people will derive general
BENEFIT from this change in the banking systems Of
1he country can hardly be questioned.
The national system will create q reliable and
permanent influence In support OF the national
credit and protect the people against losses IN the
iuse OF paper money. Whether or not any further
legislation is advisable for the suppression OF State
Bank issues, it will be for Congress to determine.
1t seems quite clear that the Treasury cannot be
satisfactorily conducted unless the Government can
exercise restraining power over the bank-Lote
circulation of the country.
The report of the Secretary Of War and the &C.
Comparing documents viii detail the campaigns
of the armies in the field since the date Of the last
md hq nff ha