The Tipton advertiser. [volume] (Tipton, Cedar Co., Iowa) 1856-1962, 1865-12-21
Upton, IOWA, DEC. 81, 1865.

Estimated expenditures for the same
period are S4s4 ,S52, ,462.64, Of which the
War Departments (for payment Of troops
and closing up existing balancssI wants
1907, 788, 75O.57,, and interest on the
Public Debt, s96, ,Sl3, 1868 Is. De6cisn.
y for the yssr, Sll2, I94, 1920.
For The year ending June 30, 1867,
estimates are: --f
REcEirrs.
Internal revenue 275,ooo,ooooo
Lands ii. LOCO, 10000
Miscellaneous 2O,Ooo.ooo. .oo-$396 600 900 90
Civil service 142,1G5, ,50967
Pensions Indians l7.6O9. .64073
War Department S9Ol7 ,4l6l8 -..
Navy Department 439S2, ,457.50 .
Interest on debt lA. .542, ,06s.5O- 2s4317.1sl.ss
Estimatsd surplus Of receipts @lli, ,oe7, ,slAl1
The pest due debt o. the 3Ist Oeto.
Der, beside the compound interest, the
United States and the fractional notes,
amounted to 81, ,373. 1920. 90; debt due 10
1865 and 1866 to SlS7 ,549, GAG 46; debt
due in 1867 and 1868 to $84S, 1928, SOL.
80. OF the latter item, $3.50, ,0OO, 900
consist Of 7 $40 notes. As they are
convertible into bonds only at the pleas.
ure of holders, the Secretary desires to
be authorized to fund them, whenever it
can be advautageously done, in advance
Of their maturity. To meet deficiency
for the present fiscal year he desires su.
tbority to sell, in his discretion, bonds
Of similar character, to reduce the TEN.
porary loan, to pay maturing certificates
Of indsbtsdness, and also to take up any
portion Of the debt maturing prior to
1860 that can be sdvsolsgeous|y retired.
ut is not probsble," remarks the Sccre.
tsry, "shat it will be advisable, even If
could be done without pressing them
upon the market, to sell . much larger
amount of bonds within the present or
the next fiscal year than will be necessary
to meet any deficiency Of the Treasury,
to pay tho past duo and maturing obliga.
tions Of tho Government, and . part Of
the temporary loan, and to retire an
amount Of the compound interest notes
aud United States notes sufficient to
bring back the business Of the country to
healthier condition. But no harm can
result from investing the Secretary with
authority to dispose Of bonds if tho con
dition Of the market will justify it, in
order to anticipate the payment Of those
obligations that must soon bs provided
for"
The total dsht on the lat Of July,
1000, :: .-s:.--.-S .. 30, 900, 900, 00o.-
The Secretary believes the whole amount
may eventually Be funded at the rate of
interest from 5 to ST per cent, and he
suggests the application Of 5000, 600, 900
per snnum to the payment of principal
aud interest together, by which the
whole would be extinguished in from
% to 323 years. .-...
INTERNAL REvESuE.-The Secretary
recommends frequent and careful rsvis-
ions of the system of taxation, with .
view to its becoming always more simple
and productive. For specific reoommen.
datious hs awaits the report Of the spe-
cial conmission, expected early in the
present session. In reference to the
Southern States, the Secretary recon-
mends that the collection of taxes aecru.
iug before tho establishment therein Of
revenue Offices be inde6tely postponed /;
that sales Of property for direct taxes be
postponed till the States have 40 oppor.
tunity Of assuming those taxes, Is the
loyal States did /; and that oil transactions
invalid for want Of stamps b lsgalized
80 far as lies 10 the power Of CoDgrsss.
For . great variety Of statements and
suggestions on other points the report
itself may BE- consulted.