Randolph County journal. [volume] (Winchester, Indiana) 1864-1865, 1864-08-26

/ am encouraged in the belief tina
by the recent legislation of Congress
our finances may soon be placed
upon a soundcr and more stabl,
footing. The present dcranged con
dition of the currency is imputablc
in n great degree. 10 disturbances
arising from the withdrawal of nee
cssary checks, often inevitable in
time Of war, when expenditures
must largely exceed any possible
supply Of coin. The opportunities
thus presented to acquire sudden
wealth have led TO vicious specula-
ton, n consequent increase in prices,
and violent iluctuation. The remedy
is to be found only in controlling the
necessity which begets the evil.
Hitherto we have felt the need of
more extensive and vigorous taxa
ton. Severe comment has been
made upon what seemed to many an
UNDUE timidity and tardiness OF ac-
ton, on the part of Congress, in this
regard. deem it but just to say
that very great misapprehension has
existed and perhaps still exists,
i,a4 /
all others, have much to learn in a
new condition Of affairs. An entire
~ new system was TO be devised,
and that system must necessarily be
the growth of time and experience.
1t is not strange that first efforts
should have proved imperfect and
inadequate. To lay heavy burdens
on a great and patriotic people in
such a manner as to be equal. and as
to occasion the least amount of suf-
fering or annoyance, requires time
and caution, and vast labor; and,
with all these, experience is needful
to test the value of the system, and
correct its errors. Such has been
the work which Congress was called
upon to perform. am happy to
say that daily results are proving
the Internal Revenue Act to exceed
in efficiency the most sanguine ex-
pectations of its authors. In the
month of June, 1868, ii yielded about
io;ir ana one halr millions Of dollars,
while the corresponding month of
this year returned about fifteen mil
lions, under the same law Under
the new law, which went into opera
ton on the first day Of the present |
month, the Tcasury not unrrequent-
" receives one million 4 day.
As time and experience enable the
officers employed in collecting the
revenue TO enforce the stringent pro
visions Of the new law, | trust that
a million per day will be found the
rule and not the exception. Still,
much space is undoubtedly left for
in the law, and in its
administration, as a greater amount
of necessary information is acquired.
The proper sources OF revenue, and
the most effective modes of obtain
ing it, are best developed in the exc
cution Of existing law. And | have
caused measures TO be initiated which
will, it is believed. enable Congress
SO to improve and enlarge the sys
tenn as, when taken in connection
with the revenue from customs, and
other sources, to afford an ample
and secure basis for the national
credit. Only on such q basis, and
in n steady and vigorous restraint
upon currency, can a remedy be
found for existing evils. Such res
traint can only be exercised when
the government is furnished with
means to provide for its necessities.
But without the aid OF patriotic
people, any government ispowerless,
for this or any other desirable end.
The demonstrations OF the notes
proposed to be issued, ranging from
fifty to five thousand dollars, place
these securities within the reach OF
all who are disposed to aid their
country. For their redemption the
faith and honor andproperty Of that
country are solemnly pledged. A
successful issue to this contest, now
believed to be near at hand, will
largely enhance their value TO the
holder; and peace once restored, al
burdens can be lightly borne. lie
who selfshly withClds his sid in the
hope OF turning his available means
10 greater immediate profit, is spccu-
lating upon his count-y's misfor
tunes, and may find that what seems
to be present gain leads only to fu-
ture loss | aDDeal. therefore. with