Columbia Democrat and Bloomsburg general advertiser. [volume] (Bloomsburg, Pa.) 1850-1866, 1865-12-16
,u;,e an augmentation of the army.

ever elghl llunuICu tuoaSduu NOVpa) huu
tho Department is proceeding rapidly in
the work of farther reduction The war
estimates are reduced from S5l6, ,240,l31
to S33,sl4, ,461 which amouut,in the opin-
ION of the Department, is adequate for
peace establishment. The measures of re.
irenchment in each Bureau aud branch Of
service EXHIBIT diligent economy worthy
Of oommondation, Reference is also made
in the report 10 the necessity of providing |
for a uniform militia sysssm, and to the !
propriety Of making suitable provision for
wounded and disabled officers and soldiers.
The revenue system Of tho country is a
subject of vital interest to its honor and
prosperity, and should command the earn
est consideration of Congress. The Sec.
retary Of the Treasury will lay before you
a full and detailed report of the receipts
and disbursements of the last fiscal year,
Of the ftst quarter of the present fiscal
year, of the probable receipts and expen-
ditures for othe ther three quarters, aud
the estimate for the year following the
30th Of June, 1866. l might content my
self with reference to that report, in
which you will find all the Information re.
ouired for your deliberations and decision.
Bat the paramount Importance OF the SUBJ
iect SO presses itself on my own mind that
cannot but lay before you my views Of
the measures which are required for the
good character, and, l might also say, for
the existence oi this people.
The lie of republic lies certainly in
the energy, virtue and intelligence of its
citizens, but it is equally true that good
revenue system is the life of an organized
government. l meet you at a time when
the nation has voluntarily burdened itself
with debt unprecedented in our annals.
Vast as is its amount, it fades away into
nothing when compared with the countless
blessings that will be conferred upon our
country and upon man by the preservation
Of The nations life. Now, on the frat &C.
oasion Of the meeting of Congress since
the return of peace, it is of the utmost i'm
portanoe to inaugurste a just policy (which
shall at once be put in motion, and which
shal commend itself to those who come
after us Tor its continuance.
We must aim at nothing less than the
complete effacement of the financial evils
that necessarily followed q state of civil
war. We must endoavor to apply the
earliest remedy to the deranged state of tAe
currency, and not shrink from devising
policy which, without being oppressive to
The people, shall Immediately begin to eff.
feet reduction of the debt, and, if per-
sisted in, discharge it fully within def
ntely fixed number Of years.
1t is our first duty to prepare in earnest
for our recovery from the ever-inerecsing
evils oil an irredeemable currency, with
out sudden revulson, and yet without
uDtimely procrastnaion. For that end
we must, each 10 our respective positions,
prepare the way. / hold it the duty Of
the Executive to insist upon frugality in
the expenditures and q sparng economy
is itself great national resource. Of the
banks to which authority has been given
to issue notes secured by bonds of the
United States, we may require the great
est moderation and prudence, and the law
must be rigidly enforced when its limits
are exceeded.
Wemay, each one of US, counsel our
active and enterprlsng countrymen to be
constantly on their guard, to liqudate
debts contracted ia paper currency ,and,
by conducting business as nearly as possi-
bic on system of cash payments or short
credits, 10 bold themselves prepared to re-
turn to he standard OF gold and silver
To aid our fellow. citizens in the prudent
management Of their monetary affoirs, the
duty devolves on US to diminish, by law,
the amount Of paper money now in circu-
lation.
Five years ago the bank note circulation
of the country amounted to not much
more lfiaD two hundred millions Now the
circulation, bank and national, exceeds
seven hundred millions. The simple state
ment of the fact recommends more strong
ly than any words of mine could do, the
necessity Of our restraining this expansion.
The gradual reduction of the currency is
the aly measure that can save the busi-
ness of the country from disastrous calam-
tiles; aid this can be almost impercepti-
bly, accomplished by gradually funding The
national circulation in securities that may
be made redeemsble at the pleasure of the
Government.
Our debt is doubly secure-frit in the
actual wealth and still greater undevelopea
iCnOalSOe VI 'u0 SOthti ! 1hN HNAU AZ 1liO
character of our institutions. The most
intelligent observers among political econ
omists have not failed to remark, that the
public debt of countryis sale in proper
tion as its people are free that the debt
of republic is the safest Of all, Our
history confirms and establishes the tLeo-
ry, and is firmly believej destined to
give it still more signal illustration.
The secret Of this superiority springs
not merely from the fact that in republic
the national Obligations are distributed
more widely through countless numbers in
all classes Of society it has its root in the
character of our laws. Here all mea con-
tribute to the public welfare, and bear their
fair share,of the public burdens. During
the war, under the impulses of patriotism
the men Of the great ody Of the people,
without regard to their own comparative
want Of wealth, thronged to our armies
and filed our heots Of war, and held them