The Lancaster gazette. [volume] (Lancaster, Ohio) 1863-1886, 1864-01-21
rnE NATIONAL FINANCES.


course are not to be credited to us.
-------~-- '..-.-.s. - --..--~--'
THE NATIONAL FINANCES.
Important Letter from Mr.. Chase,
.... ....
The following letter from the Secro-
tary Of the Treasury was read to the
Senate on Tuesday:
TREASURY DEPARTMENT, Jan II.
SIR On receiving from you copies
of Senate joint resolution No. 9 and
House joint resolution No. Ii, relating
to bounties, with your letter inquiring
whether thcrc are any considerations
arising from the condition Of the Trca
sury which will make the passage Of
eithcr.rcsolution dangerous or particu-
larly inoxpedicnt at the present time,
aud also requesting such suggestions
with regard to any modification of
either resolutions or TO the whole sub
iect matter us may occur to me, / ad-
dressed note to the Secretary of War,
asking for information as to the amount
which will probably be required for the
payment Of the bounties proposed, the
periods at which the money will be
wanted and the proportion of the whole
amount likely 10 be derived for com
mutation for drafted men, as would
enable me to make proper reply to
your letter
The Secretary of War, in answer to
my note, says: .........
1t is understood that $4,000 veteran
volunteers have been or may be en-
listed for the armies in the field. Twcn.
one million dollars would be received
tor the whole bounty to that number
$40, ,50O, 800 would be required for tho
installmcnts falling due the first year
There are two other classes of vol
untccrs beside what are called veterans
|. Those who volunteer to fill up old
regiments.
2. Recruits for new organizations.
To those who go into old regiments
$500 bounty is allowed by General Cir
cular No. 9S but to new recruits only
the sum Of 500, payable under thc
act of July, 1861.
The department has labored to con
fine the volunteering to veterans and tC
filling up the old regiments, A few
new organic ttons were authorized bo
fore the present system was adopted.
The number that will volunteer fol
old regiments or new organizations
cannot ut present, with any certainty
bc estimated. But, in most of TIL,
States, vigorous efforts are being mad,
by executive and municipal authortic
to fill up the whole quota.
From this statement II appears tina
S2l 900, 900 will probably be wantc,
for bountcs to veterans. The sun
likely to be required for recruits to I'll
up old regiments is not stated but
the number be assumed rs equal to tn
number Of Veterans expected to rccn
list, the amount required for their boun
ties will be Sl6,750, 900. II one hun
lrod thousand men are thus obtained
and the remainder OF the three hundre
thousand men called for be filled up b.
volunteers or new organizations, tn
further sum OF $50, 600, 900 will be need
0 ed
[ The addition, therefore, ofthrco hun
I drcd thousand volunteers to the arm
as veterans, recruits for old regiment
and recruits for new orgauiEations,wi
Q require appropriations for boun,ics
II tho amount of 500, 1856, 900,
But if ! understand the Secretary
:" War correctly, the sum of S2l 10000
includes S. 900, 900 for the bounty
500 to each man, allowed by law
l. alt recruits, excepting colorcd, nlik
IS whether volunteers or drafted men, 5
too, the estimate of Sl5, ,I50,OOO for 4
cmits to old regiments includes 81 ,OOl
600 of usual bountics; whilc the su
o of S20, 900 900 for two hundred tho
Is sand recruits for now organizations
q wholly made up of like bountcs,
:, II, therefore, tho estimate vt fit
- thousand veteran recruits and tif
= thousand recruits for old regiments
N correct, the whole amount required II
n dor existing laws in order to the ia
A. ing of tho same number OF men is 50
= $50, 900, of which sum about $500
:, 900 will be required during the preso
" year,
w Taking these figures to be correct
r. reply to your inquiries that ! do !
II. think that there are any considerable
IN arising from the condition of the Tr'
+, sury which will make the passage
"V either resolution dangerous or parti,
10 larly mcxpcdient.
M | must not omit however, to obscr
cd that any additions to the appropr
he ton demanded by existing estimates
,,o hanco the difficulty Of obtaining
''V vast sums required to satisfy them.
Oh Tho first duty Of the republic to
he soldiers and sailors is prompt paym
me and sure supplies Payments can
m. be prompt nor suppliessure &c app
q, priations exceed the probability Of (
w. tain provision.
me The estimates heretofore submit
'ith pnunirr fran lonnS for the last sc