Green-Mountain freeman. [volume] (Montpelier, Vt.) 1844-1884, 1865-12-12
Reports of Departments,
GIN. GRANTS IMPORT.

says he was impressed from an eafly period Of the
rebellion with the idea that active ard continuous
operations Of all the troops that could be brought
into the field, regardless Of season and weather.
were necessary TO success. Our armies east and
west acted without concert ike balky team, no
two ever pulling together, thus enabling the enc
my to use TO great advantage his interior lines Of
communication; and It was a question whether
our numerical strength and resources were not
more than balanced by his advantage and superior
position. WAS convinced that no peace could be
obtained, until the military power Of the rebellion
was entirely broken. determined first TO use the
greatest number Of troops practicable again.t the
armed force OF the enemy, preventing Lin from
using the same force st different seasons a9linst
hrst one and then another Of our armies an tie
possibility OF Iepose second to hammer coatinu-
ally against The armed force Of the enemy and his
resources, until by mere attrition, II in no other
way, there should be nothing LETT OF him, but an
equal submission, with the oya' section Of our
common country to the constitution These
views, ten. Grant says, were kept constantly in
mind, and orders given and ampaiaus ma4s up
to carry them GU. Whether they mghi have
been better in conception and execution, is for the
people, who mourn the loss of friends fallen, and
who have to pay the pecuniary cost, to say. All
can say ia That what have done has been done
lconscientlousIy to the best Of my ability and in
what conceived 10 be for the best interest OF the
whole country
Gen. Grant then refers 10 the situation Of the
contendlng forces at the date Of his appointment
the main armies Of the rebels being commanded
by Lee in Virginia and Johnston in Georgia,
while our forces were commanded by Sherman in
the West and Meade in Virginia. Gen. Grant ex.
ercislng general supervision over the movements
OF oil the armeS Sherman was instructed to
break up Johnson'a army, 90 into the iaterior Of
th tnemyo country and iBhot pi tho damage
possible to The enemy water courses and If the
enemy showed signs cf joining Lee, to follow him
up to the full extent Of his ability, while he
(GfanD would prevent lees concentration upon
Sherman. Gen. Grant tnen details his iBsrpc
tons given to Gen. Banks, Butler, md ohers, and
enters INTO detailed account Of the progress Of
the campagns Ot Buffers movement aga.rs,
Drury's Bluff, Gen. Grant says the time c1nsumed
was Loot to no benefit fears OF the surprise and
capture of Richmond and Petersburg inducing
Beaurtgard TO collect bis loose forces in North
and South Carolina and tring them 10 tle defense
OF those places. Subsequently the enemy ~
tackled Butler, who was forced or drew back into
Entertainments between the James and Appomat-
toH rivers and his (Buter's) army wa, as COM
petely shut of from further operation directly
against Richmond as 4 u had been Ia a bottle
strongly c1rked
Gen. Grant gives a succinct and clear exposition
Of all the military movements which resulted N
finally crushing the rebellion, and closes with the
statement that he knows no difference in the
fighting qualities Of the eastern or western armies.
All have proud record and all sections can con-
graduate each other 10 having done It's lil share
IN restoring he supremacy Of the laws
CONDITION AND PROSPECTS OF THE TREASURY.
The Secretary Of the Treasury believes that a
decided movement toward the contraction Of the
currency is not only public necessity, but will
speedily dlsslpate the apprehension that the effect
OF such policy will be to make money scarce
and diminish The prosperity of the country. lie
earnestly urges reduction OF the currency, re-
views the cause OF the present imitation, and states
that The country is far in advance, in real wealth,
OF what II was in 1851, when the last severe knsn-
cal crisis occurred. The people are comparatively
tree from debt. The banks are regarded gener-
ally as solvent. The paper circulation Of the
United States on October 80 was 1874 ,2lS, 03S,
being daily increased by notes issued 10 national
banks. On the Goth Of September the deposits
of the national banks were Sj4f 1850 1914. Their
loans, including investments in United States Sc
curitles, amount 10 $Sl3,045,629. The secretary
recommends that Congress declare that C. mpound
interest notes shall cease to be legal tender from
the day OF their maturity hat the fscrelary OF
the treasury be authorized, al hls di erection, to
sell United States honds bearing interest a, rate
not exceeding per cent, and redeemable and
payable az such period as may be conducive TO
the interest Of the government, iof the purpose Of
retiring the compound interest notes aud the
legal tenders.
The statement Of the public debt October 81
1860, was S2,740 SO0,475. Tbe tsuaated Re
ceipts for the year ending June 80, 1861, are
$396,000 900, and the estimated expenditures
s2S4, 3l7, 1871. Secretary McCuoch recommend,
the revision Of the revenue system To accommo-
date it TO the changed condticr of he country
He regards the reciprocity treaty with Canada
which expires on The l7th Of March nest, as IN.
barrassng the arrangemea: Of the revenue. ih,
attention II Congress is called 10 the subec. o
our mineral lands. fhe working Of the marin,
hospital system il not regarded as satisfactory
J lie recommends tina, authority be given the de-
partment TO sell such hospitals as are not needed
, On the 3lst of October, 1901 banks had been or
recommendation Of Comptroller Clarke that ma
tional banks be compelled to redeem their note
at one Of three ciles-PhIadepha, Boston O
t New Works heartily ndorsed by the secretary
He regards the establishment u tie natioua
banking system as one Of the greatest achieve
g ments Of the age, ard it is not probable that az,
e increase in the circulation, limited by law, will b.
E required. The secretary calls the attention O
q, fka t.,f.,
!, pensAlion for the employees of the treasury De
( partmen,. lie would have the number Of clerk
: diminished and the compensation Of those re
/ tanned increased.
THE cURRENoY-THE NATIONAL BANKS.
The report OF the Comptroller of the Currency
Freeman Clarke Of New York, states that the en-
% tire number Of national banks, November |, va.
1901, embracing 619 new banks and 922 CONVEX
, sions from state banks. The number of bank,
organized within the year ia 2S2 and the number
OF conversions is 1911. Oae bank, The First Ma
: tione bank at Columbia, No, has voluntarily
4 gone into liquidation, aud one, the First Natona
bank at Attlca, \. V, has failed during the year
The amount OF national bank notes in circulation
# October was Sl7 80 ,903, of state bank note
SIS, S6I $50, of legal tender notes and frse iona
currency S70i,5Si,65S, of nt.onal bipk note,
: not IN circulation Sl9,525, 1852, Of national bank
i currency yet to be issued to banks SlO9, 1892
2 mixing al aggregate Of Sl,OS3,4 52 ,233. De
/ Quoting from tins the state bsuk circulation GU,
standing (S7S,S67,575) which will be retired a
= fast as the national currency is issued, and th
: Si4,i 329 Of compound interest notes COW IT
: ed into hye-,wenty bonds since October /, tn
available currency the country is $500, 1877 ,92G
aud deductlns from this sum the rational ourren
nnt ~ nitnulatin, mud ,nt ,l.t,,....t ii