The Ashland union. [volume] (Ashland, Ashland County, Ohio) 1854-1868, 1864-12-14

those Who come from other lands to cas-,
their lot in our country.
/ - OUR FINANCES. ssd
Z The financial affairs o.e the Government
have been successfully administered dur.
ling the last year RE requisition of the
last session of Congress has bene6cially
affected the Revenue, although sufficient
time has not yet elapsed to experience
the full effect of several of the provis.
ions of the acts of Congress imposing in
/ creased taxation. The receipts during
\ kthe. ycarSfron all sources upon the basis
| Of warrants signed By the Secretary of
the Treasury, 1nciuding loans, and the
hsla neeein the Treasury on the 1st day
of j My, 1865, ,qwere ST, ,29s, ,799, ,0o7, go,
and the aggregate disbursements upon
the s1mer basis, were s1,299.056, 10l ,S9,
leaving balance in the Treasury as
shown by.warrants Of s96,T39 .905,73.
Deduct from th.se amounts the amount
Of the principal. of the Public Debt re-
deemed and the amount of issues in sub
stitutio7 therefor, and the actual cash op-
erations of the Treasury were:
'Eeceipts, sSs4,o76.646.77'; disburse.
ments, SS6.523, ,40s, 1856; which leaves a
cash balance in. the Treasury OF S18 .S42,-
| 5hS.l l /; of the receipts there were de-
rived from customs, S102,3l6,152,99
! from lands, s5SS, $50, 20; from direct
taxes, s415. 64Ss96 from iaterual rsve-
nue. 109 ,74l.f34.I0 from miscella-
neous sources SAT ,5ll ,443,1O, and from
loans applied to ACTUAL expenditures in
Guiding former balance. S623, ,443, ,929,l l3
There were disbursed for The civil service
$27,505,5SS46 For pensions and In
dians 81. .5r7930;97 for the, War De
parament. sec, ,79I SAG 81 :~for the Navy
Department sS5y733, 292s79 fof inter
est on thes public debit S58 ;6s5s42 s69,
making an. aggregate of s865 % 0s7 SO,
and lsavinsa balance in. th e T'Eeaslry OF
5! ,S42, 55S, II, as before stated a :
For the actual receipts ard .1isburse-
ipents for the fist quarter, and the esti-
snaatedlreceipts md disbursements for the
three remaining q uarters of the current
fiscal year and .the general operations of
the Treasury 10, de.a all, / refer you to the
Report of the Secretary on the Treasury
l incurwith him 10 the opinion that the
proportion of the monies required to meet
! thesexpenses consequent upon the War;
derived from taxation, should be still fur,
ther increased, and earnestly invite yon7
attention to this subject, to the end that
there nay be such additional legislation
as shall be required to meet the just ex.
rectations of the Secretary.
TIE PUBLIC DEBT.
The public debt on the first day of Ju.
" list, as appetrs by the books of the
Treasury, amounted TO one billion, seven
hundred and forty thousand millions. six
hundred and ninety thousand, four hun,
dred and eigh.y-uine dollars and forty.
nine cents. Probably sbould the war
continue for an ,ther year that an cunt may
| be increased by not far frc m FIVE hundred
millions. Held assit Ia, for the most
part by your own people, it has become q
substantial branch of national, though
private, property.
i For obvious reasons, the more nearly
| this property can be distributed among
al the people the better. To favor such
general distribution, greater Inducements
Ito become owners might, perhaps, with
good effect and without injury, be pre-
sented to the persons of limited means.
With this view Isuggest whether it
might not bo both cxpedient and compe-
tent for Congress to provide that limi-
ted amount of some future issue of pub
lie securities might be held By any bona
fide purchaser, exempt from taxation and
from seizure for debt, under such res'ric
tions and Limitations as might be Decessa-
ry TO guard against abuse of so important
privilege. This would enable prudent
personsto set aside small annuity against
possible day of want.
Privileges like these would render the
possession of such securities to tie amt
limited most desirable to every person of
small means. who might be able to save
enough for the purpose. The great ad-
vantage of citizens being creditors IA
we'll "a debtors with relation to the pub
lie debt, is obvious Men readily per-
eeive that they cannot be much oppressed
by debt which they owe to themselves.
The public deb, on the first of July last,
although somewhat exceeding the esti
mate. of the Secretary of the Treasury
made TO Congress at the commencement
of last session, falls short of the estimate
VI OluCeT u1d0C III tuc pTcCc0tuS D6-
cember, as to its probable amount at the
beginning of this year by the sum of
So ,995, ,079, ,33. ea
This fact exhibits satisfactory condi.
ton and conduct OF the operations of the
Treasury
t NATIONAL BANKS.
The National Banking system is prov
ing to be acceptable to capitalists and to
the people On the 25th of November
5S4 National Banks had been organized,
considerable humber of which were
conversions from State Banks. Changes
from the State system to the Notional
system are rapidly taking place, and it is
hoped that very soon there will be in the
United States no Bank of issue not au,
thorized by Congress. and no Bank note
circulation not secured by the Govern
ment e = &S - ...s
That the Government and the people
will derive general benefit from this