Juniata sentinel. [volume] (Mifflintown, Pa.) 1846-1873, 1865-12-13


administrative Bureaus of the War De-
paiment during the past year are detail
ed, md an estimate made of the appro-
priaions that will be required for military
purposes in the fiscal year commencing
the Both day of June, 1866. The nation
al military force on the first of May, 1865,
numbered l,000,516 men. 1t is proposed
to reduce the military establishment to a
peace footing, comprehending fifty thou
sand troops of all arms, organized so as to
admit of an enlargement by filling up the
ranks to eighty-two thousand six hundred,
if the circumstances Of the country should
REQUIRE an augmentation of the army
The volunteer force has already been re-
duced by the discharge from the service
of over eight hundred thousand troops,
and the Department is proceeding rapidly
in the work of further reduction. The
war estimates are reduced from S516, 240,
13l to S33, ,Sl4,461, which amount, in the
opinion of the Department, is adequate for
peace establishment. The measures of
retrenchment in each Bureau and branch
Of the service exhibit diligent economy
worthy of commentator. Reference is
alsesc,ade in the report to the necessity of
providing for uniform militia system,
and to the propriety Of making suitable
provision tor wounded and disabled Off
GERS aud soldiers.
/ The revenue system of the country is a
subject of vital interest to its honor and
prosperity, and should command the ear
nest consideration of Congress. The Sec
retary of the Treasury will lay before you
full and detailed report of the receipts
and disbursements of the last fiscal year,
Of the first quarter of the present fiscal
year, of the probable receipts and expen-
ditures for the other three quarters, and
| the estimates for the year following the
30th of June, 1866, might content my
self with reference to that report, III
which you will find all the Information re
, quired for your deliberations and decis
ion. But the paramount Importance Of
the subject SO presses itself on my mine
tina. cannot but lay before you my view:
Of the measures which are required for thu
good character, and, l might almost say
for the existence of this people. Th'
life republic lies certainly in the energy
virtue a,d intelligence of its citizens bu
, it is equally true that good revenue sys
tenn is the life of an organized government
[ meet you at time when the nation ha
voluntarily burdered itself with deb
unprecedented in our annals. Vast as i
its amount, it fades away into nothin!
, when compared with the countless bless
ings that will be conferred upon our coun
try and upon man by the preservation o
the nations life Now, on the first occa
E sion OF the meeting of Congress since tn
return of peace, it is of the utmost i'm
portapce to inauSurate just policy
which shall at once be put in motion, an'
which shall commend itself to those VIII
come after US for its continuance. w
must aim at nothing less than the com
plete effacement of the financial evils tina
necessarily followed a state OF civil war
We must endeavor to apply the earlies
remedy to the deranged state of the cur
rency, and net shrink from devising
po!ily which, without being oppressive t.
the people, shall Immediately begin tt
f effect reduction Of the debt, and, if per
f sisted in, discharge it fully within def
nitely fixed number of years.
1t is our first duty to prepare in earn
est for our recovery from the ever-increas
f ing evils of an IRE leemable currenc.
without sudden revulsion, and yet with
out uutimely procrastination. For tha
/ end we must. each in our respective posi-
tious, prepare the way. l hold it TIL
duty of the Executive to insist upon fru
gality il the expenditures; and sparin;
, economy is itsefa great national resource
OF the banks to which authority has bee
given to issue notes secured by bonds o
the United States, we may require tn
greatest moderation and prudence, and tn
law must be rigidly enforced when it
!, limits are exceeded. We may, each on
of as, counsel our active and en.erprisini
countrymen to be constantly on thei
, guard, to liquidate debts contracted in
paper currency, and by conducting bust
ueSS as ucaii ds Poooioi0 on d ot0nA
cash payments or short credits, to hol
themselves prepared to return to tn
standard of gold and silver. To aid on
: fellow. citizens in the prudent management
: Of their monetary affairs, the duty devol
r YES on us to diminish by law the amoun
r of paper money now in circulation. Fiv
years ago the bank note circulation of th
country amounted to not much more thai
, two hundred millions; now the circula
( ton, bank and national, exceeds sevel
, hundred millions. The simple statemen
! Of the fact recommends more strongl
| than any words of mine could do the ne
f cesslty of cur restraining this expansion
f The gradual reduction of the currency
, the only measure that can savo the busl
uess of the country from disastrou
calauities; and this canbe alm's
imperceptibly accomplished BY grad
ually funding the national clrculatlo
| in securities that may be made redeenabi
AZ the pleasure Of the government.
Our debt is doubly securc-frst In tn
actual wealth and still greater undeveioE