Semi-weekly standard. [volume] (Raleigh, N.C.) 1853-18??, 1864-11-15

profess deeply to deplnre-
The disregard of this just humane, and Christian pub
lie duty by the nations Of Europe the more renarksoe
from the fact that authentic expression has long SINCE
been given by the governments of both France anu
land the conviction that the United States are unable
conquer the COntsdcracy. 1t is now more thah tSo
wears since the of France announced officially
to the cabinets ~ London and ST. Petersburg its own con-
cusion that the United States unable to any
decisive military In the answers sent oy no
powers intmaon of contrary opinion was conVevsd
ard is notorious that in speeches. both in and on ct
Parliament, the members Of Her Britanc haJests gov
eminent have not hestaed to express this conviction IN
unqualified terms The denial Of eur right under these
circumstances is obviously unjust and
unfairly in of Uned States, that neutrais have
sought to paate the wrong which they arc
by protesting consider opposition to notorious truth
and to the known belief both begeren 10 At tae re.
Cngnion Of independence would be vaueess without
their fur her Intervention in the struggles an interyen'
ton of which discai the desire and misrust the ad
vantage. We seek no favor; we wish no lnerv
know ourselves fully to MAINTAIN our own
rights ard independence against the invaders OF coun
try and feel justified in asserting that, without the
aid derived from recruiting their from foreign
countries the invaders would this have been driven
from our soil When the recognition of the Confederacy
refused by Great Britain in the fall o4S62 the retu
sal excused the ground that any action Oy ner
Mastys government would have the effect OF inh?mlnE
the passions of the beigerents and 81 preventing the re-
turn peace 1t assumed that this opinion was sin
entertained but the experience of two years of
unequaed shows that Ironeous and that
the result the OF what the British Ministry
desired contrary policy, policy just to us,
policy divArging from unTarying course OF cnnces
sion to all the demands of enemies is still within the
power Of Her Majestys government and would it is fair
to be productive of consequence the opposite Of
those which have unfortunately followed its whole
Of conduct from the commencement of the to the
present time In word peace is impossible without i'm
Dependence and not to be expected that tn enemy
will anticipate neutrals in the recognition OF that nGc-
pandence When the history of this shall b. fully
disclosed the calm Judgment of the impartial pubcist
will for these Be unable TO absOlve the neutral
nations Europe from share in the moral responsibility
for the vra of human lives that have been unnecessa
IT. rsn~wed instances in which foreign powers have
given just of complaint need here be detailed
The f.om the correspondence of the State de-
partmrnt Which accompany this message will afford
such further Information b. given without detr
rnt to the public interest aud we lust reserve for the
future such action may then Dc deemed advisable to
+ secure redress.
FINANCES.
Your special attention is earnestly invited to the re-
port OF the Secretary of the Treasury, submitted in
Ormity with law. The facts therein disclosed far
from dISc0uraGing ard demonstrate that, with udciols
legislation, shall be enabled to all the exigercies
Of the from abundant resources, and avCit
the s'me time such an accumulation of deot would
rrnder at all doubtful our capacity to redeem it,
The ptsE receipts into the treasury for the quar-
ters arding the S0th Of September, 1874 SIIJ
1850. which sum, added to the balance Of s3QS 80?
22 that remain I'd in the the Is; of April lat
firms t"ta! of S723, i742T2 OF this total, far
halt that say, S342,5Gn 27, have been applied
dur es have been S272 3Ts 5c5 leaving balance ia he
treasury the ls Of October 1854. OF SlOS 435 44O
The total amount of thu pubic debt as exhibited On
the Doe of the Register Of the Treasury on the LIST DC
tOber, 1854 81 III go cCs # which $3.50 $50
were funded debt bearing int.rast S2s3 $50 80 we're
treaury notes of the issue" and the remainder
sisted of tie former issue OF treasury notes which will be
converted into Other forms of debt and will exist
| a currency on the SlSt Of next month.
The report, however. explains that in consequence of
the absence Of certain returns from distant officers the
true amount of the debt less by about twcnty-O-e
hall nil"ns Of dollars, than appears the books of
the Register ard that the total public debt on lat M last
month may be fairly Considered to been 81 Jog $751;
| COS.
The increase of the public debt during the six mont hs
fFom the st Al r to the l' October was Ss7 $50 So
being rather than $4,000 COO per month ard il
will be apparent the ptrua IF the report that this
augmentation would have been avoided and positive
reduction Of the amount would have been effected but
for defects III the legi laoI subject OF the
finances which pointed in the report and which
! seem to admit Of Nv.
In the stat Just made the foreign debt omit
ted 1t consists only of the unpaid balance of the
known the cotton loan This balance but 81 200 900
and Is adequately provided for By about hundred and
fifty thousand bales Of cotton owned bv the Government
even II the cotton be rated worth but six pence per
! pound.
There item of the pItlic debt not included in
the tables presented to which attention is required
The UNITY nds promised soldiers by the third
section Of the q Of l7th February 1884 deivera
be on the 1T Of October The Secretary has been una.
DIE 20 Issue them b reason Of an omission il the law,
tim" ing therein fixed for Tn. Lavnent of the bonds
The aggregate appropriations called for Ly the differ
e"t d arInents Of the Government. according to the
estimate. submitted with thu report for the six months
ending on the 3Oth June, 1861 S43s lO2 G7S
While the Secretary estimates that there will remain u
expended, Of former apprOpriat;0ns on The Isl or
| January, 1865, balance of S46T4IG SOL IL wouIJ
therefore that former estimates have been LARGELY
in If actual and that no addition;
appropriations required for meeting the needs OF the
fubic service to the LIST of July of next year In
deed II the estimates presented should prove to be
a. much IN excess OF actual expenditures has hereto
fore been the case considers able balance will still re-
main uncTpended at the close of the first half Of the cn
| suing year.
The chief difficulty to be qpprchended in connection
with finances results from the DEPRECIATION of k
treasury notes, which justly BE- attributed b,,
the secretary To two causes redundancy in amount auC
want OF confidence in ultimate redemption Tor both OF
which, remedies suggested that will commend them
selves 10 your consideration as being practicable we'll
/ as efficient
The main features of the plan presented are subsant
ally these lst. That the faith of the Government he
pledged that the notes shall remain EXEMPT from
taxation. ID. That issue shall be made beyond that
which is already authorized BY law 3D. That certain
fixed portion OF the annual receipts from taxation during
the war shall be set apart specially for the gradual
extinction of the outstanding amount mill :.
! shall have been reduced to $50 600 900 and
! 4th The pledge and appropriation of such prnpUr-
ton OF tue in kind, and for such number of ye,?s
alter the return of peace shall be sufficient for the fl
nal redemption of the entire circulation. The det:I!s
of the plan, the calculations which it is based the
efficiency {" its operation, and the advanta ges which
"ou result from 1T success, are fully detailed in the
report and cannot be fairly presented form suici-
ceiye from you that earnest and candid consideration
which is merited by the inpnrtarce Of the subject
The recommendations of the report for the repeal of
certain provisions of the tax laws which produce ine-
quality in the burthen of taxaton for exenptiug all
Government loans from taxation capital, and from
adverse discrimination in taxation on income de-
rived from them for placing the taxation on banks on
the footing the taxation of other corporate bod
les for securing payment into the treasury of that
portion of the bank circulation which is liable to couf
cation because held by alien enemies for the
sion OF the Understanding treasury notes stand
ing into coupon bonds and for the quarterly cole ction
OF taxation all present practical questions for egsla-
ton which, if wisely devised will improve the public
credit, and alleviate the burhens imposed BY th
extreme and unnecessary depreciation in the value of
| the currency.
The returns of the Produce Loan Bureau are submit
ted with the report and the information conveyed tina
the Treasury Agency in the Trans Mississippi Depart
ment has been fully organized and is in operation
| with promise of efficiency and success.
The provisions heretofore made to extent for in
creasing the compensation of public officers civil and
military, found to be in places inadequate their
support; perhaps not more anywhere than in Rich
mond; and inquiry with view to appropriate RENE
dy suggested to yOnr consideration Your notice is al
so called to the condition of certain officers of