Rutland weekly herald. [volume] (Rutland, Vt.) 1859-1877, 1864-12-08

as to secure them here free choice of
avocation and places OF settlement. A
liberal disposition toward this great ma
tional policy is manifested by most of
the European States, and ought 20 be
reciprocated on our part by giving the
effective national protection.
| regard our emigrants as one OF the
principal replenishing streams, which
are appointed by Providence TO repair
the ravages OF internal war and its
wastes of national strength and health.
All that is necessary is TO secure the
flow of that stream in its present full
ness, and to that end the Government
must in every way make 1t manifest that
1t neither needs nor designs TO impose
involuntary military service upon those
who come from other lands to cast their
lot in. our country. ...-....
~ THE FINANCES. -...
The financial affairs of the Govern
ment have been successfully administer
ed during the last year. The legislation
of the last session OF Congress has bene-
fcially affected the revenue, although
sufficient time has not yet elapsed to
experience the full effect of several of the
provisions of the acts of Congress i'm
posing increased taxation. The receipts
during the year from all sources upon
the basis of warrants, signed by the
Secretary OF the Treasury, including
loans and the balance in the Treasury,
on the first day of July, 1868, We're
1884, 796,007 OF, and the aggregate dis
bursements, upon the same basis, were
81, 29S, 056, l0l SO, leaving balance in
the Treasury, as shown by the warrants
of S96,739, 905,73. Deduct from these
amounts the amount of the principal Of
the public debt redeemed and the
amount of issues in substitution there
for, and the actual cash operations of
the Treasury were Receipts 1884, 076,-
GAG II; Disbursements, $685., 236,0 S7 Sc,
which leaves a cash balance in the
Treasury Of SlS,S42, 558 II. OF the re-
ceipts there were derived from customs
Sl02, 1916, l52 SO; from lands, $685. 533 90;
from direct taxes, S475, GAS Sc; from in
ternal revenue, Sl09,7 ,154 10; from
miscellaneous sources, S47,5ll, 44S 10;
and from loans applied to actual expen-
dltures, including the former balance
$685., 443. 929 10. There were disbursed
for the civil service, $27 sos, 500 As, for
pensions and Indians, S7,517 $3.50 81, for
the War Department S60,79 ,S41 81, for
the Navy Department SS5, 733, 292 II, for
interest of the public debt S53, 1856, 42l co.
making an aggregate of $3.50, 1884, 0s7 Sc,
and leaving balance in the Treasury of
S1S, S42, 558,81, as before stated. For the
actual receipts and disbursements for
the first quarter, and the estimated re-
ceipts and disbursements for the three
remaining quarters, of the current fiscal
year, and the general operations of the
Treasury in detail, / refer you to the
report of the Secretary of the Treasury
concur with him in the opinion that
the proportion of moneys required to
meet the expenses consequent upon the
war, derived from taxation should be
still further increased, and / earnestly
invite your attention to this subject, to
the end that there may be such addi-
tional legislation as shall be required to
meet the just expectations Of the Secre-
tary.
The public debt on the first day OF
.Inly last annears hv the hooks of the
Treasury, amounted TO sl,740, 500, 489 40.
Probably should the war continue for
another year that amount may be in
creased by not far from five hundred
millions. Held as it is for the most part
by our own people substantial branch
of national, though private property
for obvious reasons the more equally
this 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 pre-
scented to persons Of limited means.
With this view / suggest whether it
might not he both competent and expe-
dient for Congress to provide that
limited amount of some future issue of
public securities might be held by any
bonattde 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 a privilege.
This would enable every prudent per-
son to set aside small annuity against
a possibly 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 this purpose.
The great advantage of citizens being
creditors as well as debtors with rela-
ton to the public debt is obvious. Men
readily perceive they cannot be much
oppressed by debt which they owe to
themselves.
The public debt on the first Of July
last, although somewhat exceeding the
of the Secretary of the Treasu.
ry made to Congress at the commence
ment of last session of Congress. falls
short Of the estimate of that officer made
In the preceding December, as to it's
probable amount at the beginning of
This year, by the sum of 90, 995, O97 81,
This fact exhibits satisfactory condi-
lion and conduct of the operations of
The Treasury
THE NATIONAL BANKS. |
The National Banking system is prom
sing to be acceptable to capitalists and
% the people. On the 9Th day of No
1ember, 5S4 National Banks had been or
.anized, a considerable number of which
we're conversions from State Banks.
]hanges from State systems to the Ma
ional systems are rapidly taking place.
~ t. L 4 (