The Jeffersonian Democrat. [volume] (Chardon, Ohio) 1854-1865, 1865-12-22
Department Reports.

arc threatened, Oy tho imitation OF our cur
rency. He remarks that "tbe plethora Of
paper money is not only undermining tho
morals Of our pooplo, by encouraging waste
and extravaganza, but It is striking at the
root of our material prosperity, by diminish
ing labor" The paper circulation on the
31st of October, was over seven hundred
and thirty four millions of dollars; and 1t
has daily increased since then by reason OF
further issue of national bank notes. III
disaster followed tho expansions of 1897 and
1857, what must bo tho consc quences of the
present expansion, unless speedily checked
and reduced:" says tho Secretary.
He strongly advocates contraction, does
not believe that any measure which can be
passed by Congress can cause embarrass.
ment, either to tho government or people,
or crisis worse than ia inevitable If We con-
tinue as we arc. Tho Secretary recon.
mends, therefore, First, that Congress de-
clare tho compound interest notes no long
or a legal tender, after their maturity -
Second, that tho Secretary DO authorized to
soil ak per cent, bonds to redeem compound
interest aud United States notes. He does
not think contraction by these means will
bo injurious!y rapid, but holds that it will
| not be necessary to retire more than one. or
| at most two hundred millions, 10 reach tho
desired result.
The national debt will reach three thous
and millions OIL July lst. 1866. Nothing but
revenue" says the Secretary, "will sustain
the national credit. aud nothing less than q
fixed policy for the reduction Of the public
debt, will be likely to provent its increase"
He proposes an act OF Congress that. begin.
ming with the next fiscal year, two hundred
millions per annum shall be applied to tho
payment of the principal and interest of tho
public debt lie suggests also that Congress
! shall doclaro the principal as we'll as the
interest of the fve.twenty bonds payable 10
coin. He opposes tho taxation Of govern.
ment bonds by States. As to internal rev.
nuo laws, he withholds his recommendation
until tho Commissioner reports. 500
The Comptroller of the Currency seems
| to prefer national bank issues 10 govern
national banks, as ono means of Withdraw
ing some part Of tho loyal tender notes.
The Commissioner of Internal Revenue 70.
marks that the actual roceipts of the gov
ernment during the last yoar, from internal
revonuo alono, equalod tho whole amount
Of the receipts Of the treasury from all
sources from tho creation of tho government
to tho year 1912. Hc estimates tho receipts
from internal revenue for tho current
fiscal yoar at nut less than @272 zoo, ,000-
he states the cost of collecting the custom
revenues at threo. aud half per cent, and
tho cost of collecting the intorul rovonuo, at
two nnd-,hree quarters per cont, for tho
Northern States, and not ovor three and.
one half per cent for all the Statos.
Tho Secretary of War reports that our
military forco amounted on tho lst of May
to ono million five hundred and sixteen mon;
it is to be reduced to fifty thousand men,
} and eight hundred thousand have boon dis.
chared nnG paid off in six months. The
military appropriations of tho last Congress
amounted to over fivo hundred and sixteen
millions; ho asks of this Congress less than
thirty -four millions. Mr.. Stanton remarks
that the war has mado us nation Of voter.
ans, and "tho speed of tho railroad and tol.
egraph now determines the time required
TO raise an army in tho United States. -
Tho rebel armies which surrendered at the
close OF the rebellion numbered ia .223 men,
of whom Lee had loft only 27 ,805 in bis fiuaI
surrender, and Dick Taylor had over forty
two thousand, the largest robe! force sur.
rendered by any one Goporal.
Lieutenant. General Grant furnishes 9
spendid report Of military operations, writ,
ten in terse and acknowledgement .in which
he praises Sherman, Sheridan, Meade
Thomas and othors, in forcible phrases, ant
consures Butlor, "Baldy" Smith and Others
for misconduct, or for failing to do tho part
which had boen appointed for them. Gran
closes with paragraph in which he laud
tho equal bravery Of the Eastern and West
ern troops. and makes honorable monitor
also Of the stubborn fighting Of tho South
ern soldiers. ..s'
The Secretary of tho Navy reports tba
. in January last All vessels, carrying 245l
, guns, and nearly fifty thousand mon, wer,
engaged In the blockade service; now ther,
remain but 20 vessels, with 2l0 guns OF
the coast. Since March. 1861, 4l8 vessel
were purchased, OF which 3l3 were steam
ers. Thoy cost over eighteen millions: bu
$40 have been sold, which have returned
} over five and half millions. The Score
tary urges that our flag should be carriet
now into every sea and port where our com
merce extends.
\ The Secretary of the Interior reports tha
over five millions acres of public land
were disposed of during the fifteen month";
ending with September last. OF these ]. I6o.
532 acres were taken under the Homestead
act. The number of army pensioners il
81 .l30, and these received $7,7s2,77S las
I year. The navy pensioners number 1856
and received $230,572. ..
i ~~
!. NEWSPAPER EDIToRs.-Dr. johnson says
II know OF no classes of community from
whom SO much disinterested benevolenc.
and thankless iabors are expected as from
editors Of newspapers. They are expected
to feel for every one but themselves--to cor.
rect public abuses, and privates ones. also
without giving offence-to sustain the diff