Daily State sentinel. [volume] (Indianapolis, Ind.) 1861-1865, 1864-12-07
CANADA BoaDrn prrrioULTirs-A ErurDr

CANADA BoRDIE piTricULTffs-A ErufDT.
In view of the Insecurity Of life in the re-
gion adjaccnf 20 the Cansdan border by
recent assaults and depredations committed by
eager and desperate persons who are harbored
there, il has been thought proper to give notice
that. after the expiration Of six months. the
period conveniently stipulated in the exisfingsr
rancsmeuts zith Great Britain. the United States
must hold themselves at liberty 10 increase their
naval armament upon the lakes, Il they shall find
that proceeding necessary. The condition Of the
border viii necessarily come into consider
alton IA connection with the question Of
continuing or modifying the rights Of
transit from Canada through the United States, es
well as the regulation Of imports which we're
temporarily established By the Reciprocity Treaty
of the 5sh Of June, 1854. l desire, however, to
be understood. while making this statement. that
the colonial authorities are no; deemed 20 be Ia
ientionally unjust or unlrendly toward the
United States but the contrary, there is every
reason 70 expect that, with the approval OF the
imperial government, they will take the neces-
ssry measures 70 prevent new incursions across
the border.
TSooURAoExEST OF ENIsRATfoS.
The act passed at the last session for the en-
enlargement o. emigration has, as far as was
possible, been put into operation. lt seems 20
need amendment which will enable the officers OF
the government 10 prevent the practice OF frauds
agains; the immigrants bile on their way and on
their arrival IN the ports. as TO secure them
here q tree choice OF ayOcati0Ds and places OF
settlement liberal disposition towards this
governments general policy is manifested by
most of the European States and ought 10 be re-
ciprocated on part by giving the immigrants
effective national protection. | regard orr im-
migrants a one of the principals re-
plenishing streams which are appointed by
Providence TO repair the isvages Of internal war
aud its waste OF material strength and wealth
All that is necessary is 10 secure the flow of that
stream IN lts present fullness, and~to that end
the Government must in every way make IL man
fest that it neither Leeds nor designs to impose
involuntary military service upon those who
come from other lands to cast their lot in our
country.
FINANCIAL AFFAIRS
The financial affairs of the Government have
been successfully administered during the last
year. The requisition of the last session of Con
gress has considerably exceeded the revenues, al
though sufficient time das not vet elapsed to es
perencs the full effect of several of the provs
ions of the act Of Congress imposing increased
taxation. The receipts during the year from all
sources, upon the basis OF warrants signed by
the Secretary of the Treasury, on the lst day of
July, 1863, were 81 1874 100 .O07 81, aud the az
disbursements, upon the same OASIS were
ST. ,29c, GOO, l0l 80, leaving balance in the
Treasury. as shown by warrants. Of S96. 739 .905
70. Deduct from these amounts the amount of
the principal of the public debt redeemed, and
the amount of issues in substitution therefor, ana
the actual cash operations OF the Treasury
were receipts 1881 016, 6i6,U disbursements
1865 ,23i 0S7 Sc. which leaves cash balance in
the treasury of SlS $40 ,55S.7l OF the receipts
there derived from customs Sl02 81 s. i 80
80, from lands S5es, 1873 %. from direct tax 81,
975 ,6is 90, from in ernal revenue Sl09 AL 1874
10. from miscellaneous sources S4,IJl ,l4f3 10.
and from loans applied to actual expenditures,
including former balance. S623 4i3 500 ID
There were discussed for the civil
service S21 500 J9y 46, for pensions and
Indans, SIS l19 $40 II; for the War Department
S6,0i9 ,le4 "a: for the Navy Departme tS-5 1873,
292. 10; for interest of the public dcot 500 6S5.
f29 60, making aggregate Of SS6, 523 4Oe .1o6.
and leaving balance in the treasury OF SIS, e42.
55S, l. a. before stated For the actual receipts
and disbursements for the first quarter, a1d the
estimated receipts aud disbursements for the re-
manning quarters of the fiscal year. and the gen
eral operations OF the treasury in detail. ] refer
you 20 the report OF the secretary Of the TFessu-
~ | concur with him in the opinion thar the
proportion of the monies required to meet the
expenses consequent upon the war. derived from
taxations. should bc still further increased, and
] earnestly invite your attention TO this subject,
to the end that there may be such additional lee
islation ~ shall be required TO meet the jast ex-
pectations of the Secretary.
PUBLIC DEBT.
The public debt on the first day OF July last,
rs appears by the books OF the treasury,
amounted TO one billion, hundred and
forty thousand millions, six hundred and ninety
thousand, four hundred ard eighty nine dollars
81.
continue for another year. that amount may be
increased by not far from five hundred millions
Held, it IL. tor the most part by eur own peo
pie, il has become substantial branch OF IA
tional though private property. For obvious
reasons the more nearly this property can be
distributed among AL the people the better.
To favor such distribution greater induce
ments 20 become owners might, perhaps.
with good effect and without injury be
presented to persons OF limited means With
this view | suggest whether il might not be both
expedent and competent Tor Congress 70 provide
that limited amount OF some future issue of
public securities might DC held by any bona fde
purchaser, exempt from taxation, Gnd from seq
uFe for debt under such restrictions and limited,
az might be necessary, TO guard against abuse of
so important privilege This would enable
prudent persons TO set aside a small annuity,
against possible day of want Privileges like
these would render the possession oil such secur-
tiles, 10 the amount limited. most desirable TO
every person of small means, who might be able
10 save enough for The purpose
The great advantage OF citizens being creditors.
we'll debtors with relation TO the public
debt. is obvious Men readily perceive that they
cannot be much oppressed by debt which they
owe to themselves.
The public debt on the first day of July last.
although somewhat exceeding the estimate of the
Secretary of the Treasury, made 10 Congress at
the commencement OF last session. falls short OF
the estimate of that officer. made in the proceed.
ing December. as 10 its probable amount at
the beginning Of this year by the
sum of 1899 .507 933 This fact exhibits salts
factory condition and conduct of the operations
of the treasury.
NATIONAL BANKING SYSTEM
The National Banking system is proving TO be
acceptable 70 capitalists and 10 the people On
the 25th of November 5o4 National Banks bad
been organized, considerable number of which
were conversions from State banks. Changes
from the State system to the national system are
speedily taking place. and il is hoped that yery
soon there will be in the United States no bank
of issue not authorized BY Congress AMI no bank
note circulation not secured by the government
That the government and the people will derive
general benefit from this change in the banking
systems of the country can hardly be questioned.
The national system will create a reliable ard
permanent influence in support of the national
credit and protect the people against losses in the
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