The Grand Haven news., 1864-12-14


ion that the proportion Of The monies re.
quired 10 meet the expenses consequent
upon the war; derived from, taxation,
should be still furthc. increased, and !
earnestly invite your attention to this sub
ject, to the end that there may be such
additional legislation as shall meet the
just expectations Of the Secretary. elli
.ff-. THE PUBLIC DEBT. u.
The public debt on The lsl day Of
July last, as appears by the books Of the
Treasury, amounted to one, billion seven
hundred and forty thousand millions,
six hundred and ninety thousand, four
hundred and eighty-nine dollars and for
ty-nine cents. Probably, should the war
continue for another year, that amount
may be increased BY not far from FIVE hun
dred millions. Held, as it is, by the
most part by our people, it has become a
substantial branch Of national, though
private property. For obvious reasons
the more nearly tho property can
be distributed among all the people, the
better to favor such general distribution,
greater inducements TO become owners
might, perhaps, with good effect, and
without injury, be presented to persons
with limited means. With this view, /
suggest whether it might not be both ex-
pedient and competent for Congress 10
provide that limited amount of some
future issue Of public securities might be
held BY any bona fide purchaser, exempt
from taxation and from seizure for debt
under such restrictions and limitations as
might be- necessary to guard against
abuse Of SO important y privilege. This
would enable prudent persons to set aside
small annuity against possible day Of
want. Privileges like these would render
the possession of such securities to the
amount limited most desirable to every
person of small means who might be able
to save enough for the purpose. The
great advantage of citizens being credit
ors as well as debtors, with relation 10
the public debt, is obvious, Men readily
perceive that they cannot be much OPP
pressed by debt which they owe to
themselves. The public debt on the first
of July last, although somewhat exceed
ing the estimate of the Secretary of the
Treasury, made TO congress at the COM
mencement Of that session, falls short of
the estimate Of that officer, made the pre-
ceding December, as to its probable
amount at the beginning of this year, by
the sum of $3,995,079 S3. This fact
exhibits a satisfactory condition and con.
duct Of the operations of the Treasury.
The National banking system is proving
to be acceptable to capitalists and to the
people. y *e*ai -
! WAR DEPARTMENT..
The report Of the Secretary Of War
and accompanying documents will detail
the campaigns Of the armies in the field
since the date Of the last annual message;
and also the operations Of several ad-
ministrative bureaus Of the War Depart
ment during the last year. 1t will also
specify the measures deemed essential
| for national defense aud TO keep up and
supply the requisite military force.
i NAVY.
The report of the Secretary Of the Navy
presents comprehensive and satisfactory
exhibit Of the affairs Of that department
| and Of the naval service. II is subject
of congratulation and laudable pride 10
our countrymen that navy Of such vast
proportions has been organized in 80 brief
period, and conducted with SO much ef-
ficiency and success. The general exbib.
it of the navy, including vessels under
construction, on the lst Of December,
1864, shows total Of 67l vessels, carry
ing 4,6l0 guns, and $40, ,S96 tons, being
an actual increase, during the year, over
and above all losses by shipwreck or in
battle, of s3 vessels, 1877 guns, and Az
427 tons.
! The total number of men at this time
in the naval service, including officers, is
about 81 900. There have been captured
! BY the navy, during the year, 324 vessels,
and the whole number Of naval captures
since hostilities commenced, is 1880, Of
which 326 are steamers. The gross pro-
ceeds arising from the sale Of condemned
| prize property thus far reported amouni
TO $l2 2,396,250 81. A large amount OF
such proceeds is still under adjudication,
and vet to bo reported.
! The total expenditures Of the Navy
Department Of every description, includ-
ing tho cost of the immense squadrons
that have been called into existence from
the 4th Of March, 1861, 10 November
lst, 1854, are S2as,6s7,6a2 25. Your
\ favorable consideration is invited to the