Ellsworth American. [volume] (Ellsworth, Me.) 1855-current, 1865-12-15

fnll and detailed report Ut The receipts anu
disbursements of the last fiscal year, OF
the first quarter of the present fiscal year
of the probable receipts and expenditures
for the other three quarters, and the esti-
mates for the year following the Both OF
June. 1856. ] might content myself with
q reference to that report, in which You
will find all the information required for
yolr deliberations and decision. But the
paramount importance tf the subject so
presses itself on IGy own mind, that can
not but lay before yoa my views Of the
measures which are required for the good
character, and, nii%hs almost say for the
existence of thia people. The fife of a
republic lies certainly in the energy, viz
tue, and intelligence OF its citizens: but it
is equally true that a good revenue system
is the life of an organized government. |
meet you at time when the nation has
voluntarily hurdened itself witha debt UNI
precedcnted in our annals. Vast as is its
amount, it fades away into nothing when
COMPARED with the countless blessings that
Will he conferred upon oar country and
np0n men by the preservation OF the ma
tons life. Now on The first occasion o!
the meeting of Congress since the return
OF peace, it is of the utmost Importance to
inaugnrate a just policy, which shall al
once be put in motion, and which shall
commend itself to those who come after
Us for its continuance. We must aia at
nothing less than the complete cifaccmeut
Of the financial evils that necessarily fol-
loved state of civil War. We must en-
deavor to apply the earliest remedy to the
deranred state of the currency. and not
shrink from devising policy which with
olt being oppressive tn the people, shall
Immediately begin 20 effect Il reduction nI
tie debt, and, If persisted in, discharge
it fully within definitely fixed number OF
years.
1t is car first duty to prepare in earnest
for our recovery from the ever increasing
evils of an irredec:nah!e currency. witEoui
a sudden reyulsion, and vet without uu-
tiaselv proerastiaatian. For that end, We
mast, each in our respective positions,
prepare the way. | hold 1t a duty If the
Executive to insist uIon frugalty in the
expenditures; and a Sparing economy is
itself a great national resource. OF Tie
hanks 20 which authority has been given
TO issue notes secured by bonds of the
United States. We may require the great
CT moderation and prudence, aad the law
must be rgidiy enforced when its limits
are exceeded We may, each one OF Us,
counScl ear active and cnterpriSing caun
t@vmen 70 be constantly on their guard, to
Eqpidate debts contracted in paper cur
raace. and, by conducting business as
nearly as possible an a system Of cash
payments or short credits. 10 hold them
VS. nreDarpd to return 70 the standard
nj Ia and silver. To aid eur fellow
81, :Tens in the pruleit management of
tbe;r ,n,netary affairs. the duty 9eyoIyo,
ON ~ to diminish by law tIfe ao,eent If
narer mouev now IN circulation. Five
YRS and tie bank-nn;c cirenlali,n Of tba
.an,tyv amoaufe1 to NOT mpch more than
t.o bnndrrd niilions. now Nh. oircniai,,n,
hanl, and natioaal, exceeds Fryen hnndrrd
ntilliors. Tbe sijurtl, statement Of the
v. ar Of mine could DO, the nefcssitr Il
our restraining his exnansien. The
rTa,nal ro,inriioa Of tho c5rrcncy i fl.r
AMY rseasnre that can save the business
,f the copptrr from, Disastrous ealamities.
~ H. can ba .lr=,.t ;u.narc,.I,,ff.f,. ~
cam1lisheJ Ly rraauaIIy fInainr The
,,,t;d,,ai ,;rc,Il,t;Gr N secyr.t,as H. n,a,.
ls IL rlso,z1,I. 10 f,l,., sue If ~.
,sav@vrAncnt
90 Cnr de, debt : 1o,)lT secure fr., in ,be
ot,,ai r,gi md In ,.1,tor nnlar,a'
, rcsnnr:as Of , tho &C.. o,,fr. and newt
cb.ra,.cr IS ~ ,,Ir ;,sit,. 80, Yh.
';,',, ai.o'., ,,,,,;t;'.ni
~ '95. ' have ' not not g 70 ra y '5 hat
~ LII Al - # ,, r
W. 49, Il, ,ao,lo S@o frao ,b5t f,ho
Kin f of = rennbIjc i tIe safest Of ali