The daily clarion. [volume] (Meridian, Miss.) 1863-1866, 1865-12-10

aim at nothing less than the cor,nIos'
eff4cementof the financial evils thetr r.e@ n
essarily followed state of civil wsr He''
We must endeavor to apply the es,,;..,
remedy to the deranged state of tba -,ss' n'7s
rency, and not shrink from devjsir"u uf'
policy which, without being oppres;va :
the people, shall Immediately ho,;.
effect reduction of the debt, and
sisted In, discharge it fully within a dos
nItely fixed number of years. II il N
first duty TO prepare for our ,soo'"l Ouf
ing from the ever increasing evils ot
irredeemable currency without s,J.n al
revnsion, and without unlimeIv roS!u eu
ency. 10 that end, we must each in o",
respective position, prepare the wsv
b Id it to be the duly Of the Executiya -
insist. on trugality In the expepditn,a'
and support economy, itself great "
tlonal resource. Ofthe banks to vb;"r
authority has been given to issue vu no,aa
secured by bonds Of the United Sta,"a
we may require the greatest moderst;oS'
and prudence, and the law must be 100
ly enforced when its limits are excaaGsS
We may each one of US counsel our oo,;v'
and enterprlslng countrymen to ba ~.
stantly on their guard, to liouidata 49,
contracted In paper currency and w.
conducting business as nearly as noost,!
on system of cash payments or sho.t
credits, TO hold themselves prenero5 ~
return to the standard of gold and s;lv.,
10 aid our fellow citizens in the r,n
dent management of monetary sffs;rs
the duty devolves on us to dimin;sb h,
law, the amount of paper money now !!
circulation. Four years ago the banL
note circulation of the country amopntaG
to not much more than two hundred
millions; now, the circulation, bank and
National, exceeds seven hundred million,
The simple statement of the fact recon-
mends, more strongly than any words of
mine could do, the necessity of our re-
straining this expansion.
The gradual reduction Of the currenc,
is the only measure that can save H.
business of the country from disastron,
calamity, and this can be almost Inner,
cepubly accomplished by gradusDv
funding the National circulation in %,
curities that may be made redeemabls,t
the pleasure of the Government. On,
debt is doubly secured-frst, in the AZ.
tual wealth and still greater undereloped
resources OF the country; and next. in
the character OF our institutions. Tbs
most intelligent observers among polt.
ical economists have not failed to remark
that the public debt of country is ssfA
In proportion as its people are free that
the debt OF arepublic is the safest Of all
Our history confirms and establishes the
theory, and is, firmly believe, destined
to give it more signal illustration. The
secret OF this superiority springs not n
merely from the fact that the Republic,
natural obligations are distributed, more
widely through countless numbers in all \
classes of society. 1t has its secret in the I
character of our laws. All men contri
butte to the public welfare bear their
fair share of the public burden. During
the war, under the impulses of patriotism,
the most of the great body of the people,
without regard to their own comparstW
want of wealth, belonged to our armies
and filled our fleets of war, and held
themselves ready to offer their lives for
the public good. Now, in their turn, The
property and income of the county
should bear their Just proportion of the
burden OF taxation, while in our import
system, through means of which increased
vitality is incidentally impaired to al
he industrial interests of the nation, the
iuties should be SO adjusted as To fall
most heavily on the articles. OF luxurJI
eaving the necessaries of life as free from
axation as the absolute wants of the
Government, economically administered,
will justify.
No favored class should demand free
iom from assessment, and the tax should
De so distributed as not to fall unfairly
IN the poor, but rather on the accumu
ated wealth of the country We should
ook to the National debt just as it is
lot as National blessing, but as heaV L
'urden on the industry of the countrybH
re discharged without unnecessary delg
t is estimated by the Secretary Of the
'reasury that the expenditures Of tbs
lscal year, ending the Both of June
500, will exceed the receipts SIP 2la
~. 1t is gratifying, however, to state
hat 1T Is also estimated that the revenue
or the year ending the Both June, 1851
I'll exceed the expenditures in the sum
t Sill l,628,8l8. This amount, or %
1uch of it as may be applied to the re
uction OF the public debt. which on ths
lst day of October, 1865, was $2,740-4
0O. Every reduction will diminish tS
0 enlarge the means of still further re
uctlons, until the whole shall be hqu
ated, and this, it will be seen from tH
stlmate of the Secretary of the Tres
ry, may be accomplished by annud PgE
tents, even within a period not exceea
lg thirty years. | have faith that I"
1all do this within q reasonable TINE
1at as we have amazed the world BY 'h
lppressiDg of civil war which W.
lought to be beyond the contT
any government, so we Sha
lually show the superiority of our
ltutions by the prompt and tn@
II discharge of our National o'p
ationa.
The Department of Agriculture, unae
present direction, is accOmplsnus
uch in developing and utilizing the vS
srlcultural capitalists of the cOuntry,Ig,
r the information respecting the dss'
It's manag reference is mace
e annual report of the Commissionei'
| have dweIt thus fully on our d0me:L
fairs because of their transcendant
'rtance. Under any other circumstals
II great extent of territory and NMt;,
climate, producing almost every r{I1ss lr,s
at Is necessary for the wants, ana s'
of man, make us independehs.
e varying policy of foreign powers.
otect us against every Temptation
tangling alliances, while at the PREF
oment the establishment of harnusI
q the strength that comes from harmg;r arnt;o
Ill be our best security against na'ri ani
no feel it. For myself it has been aac S
" be, my constant aim to promote P'snin
d amity with all foreign nations bA
wers, and have every reason an
We that they all, without exception nr