The Democratic advocate. [volume] (Westminster, Md.) 1865-1972, 1865-12-14
TERMS so IN ADVANCE.

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military force on the fstof May, 1866, mum
bered ,000, ,516 men It is Proposed to re.
duce the military establishment to peace
footing, comprehending Fifty thousand troops
. OF all arms organized so as to admit of al,
d enlargement by filling up the ranks to eighty
two thousand six hundred, if the circurlni
4 stances of the country should require an
augmentation of the army. The volunteer
i force has already been reduced by the dis
/ charge from service of over eight hundred
thousand troops, and the. Department IS
proceeding rapidly in the work Of further re-
ductlon. Il he war estimates are reduced
from S5l6,240, ,131 to- $33, ,S14, ,461, which
amount, in the opinion of the Department,
] is adequate for a peace establishment The
measures of retrenchmcnt in each bureau
and branch Of the service exhibit a diligent
economy worthy of comlnendation Refer
ence is also made in the report to the. .neces-
slty OF providing for uniform militia system
and to the propriety of making suitable pro-
vision for Wounded and disabled officers and
soldiers. 8 ~ S.Ifoan 4 lies f1.1lG
The revenue system ofthe country IS 4
subject of yitalinterest to its honor a1Idpros.
| perlty, and should command the earnest
consideration of Congress. The Secretarv
ofthe Treasury will lay before you afull and
! detailed report of the receipts and disburse-
ments OF the last fiscal year, of the first QUAR-
ter OF the present fiscal year, of the probable
receipts and expenditures for the other tl1ree
quarters, and the estimates for the 3sar fol-
lowing the both of June, 1866. I miishSSsoh4
tent myself with a reference to that repoEt..
IN which you will find all the infornati5B
required for your deliberations and decisio;f.
But the paramount Importance ofthe subjecs
SO presses itself on my ownmind, that cam
not but lay before you my views Of the raeas-
ures which are required for the good characs
ter, and, lmightalmost say, for the existence
OF this peoples. The life of a republic lies
certainly in the energy, virtue, and intellis
gence OF its citizens but it is equally true
that good revenue system is the life of IN as
organized government. I meet you at q
time when the nation has voluntarily burden
ed itself with a debt unprecedented In our
annals. Vast as is its amount; it fadesawa
INTO nothing when compared with the
countless blessings that will be conferred
npon our country and upon man by the pres
ervatioQ. of the nations life. Now, on the
first occSsien of the meeting of Congress
since the return of peace, it is of. the utmost
Importance to inaugurate a just policy,f
which shall at once be. put In motion, and
which shall commend itself to those, who
come aftersu for its continuance. Wemust
aim at nefhng less than the complete effaee-
ment of the financial evils that necessarily
followed a state of civil war. We must en-
deavor to apply the earliest remedy to- the
deranged state. of the currency, agd not
| shrink from devising apohey which, with
/ nut hair r. IL Ill
mediately begin to effect a reduction of the
| debt, and if persisted in, discharge it fully
| within a definitely fixed number of years.
1t is our frs duty to prepare in earnest
| for our recovery from the ever increasing
evils OF an irredeemable currency, without
a sudden revulsion, and yet without antine-
| ly prorrastination. For that end we must,
each III our respective positions, prepare
the way. hold it the duty of the Execu-
tive to insist upon frugalty iu the expendi-
lures, and a Snarlng4 economy is Itself ! a
4 great national resource. Of the banks 70
which authority has been given to issue.
notes secured by bonds of the United States,
4 we may require the greatest moderation and
prudence, and the law must be rigidly en-,
forced when its limits are exceeded. i We
may, each one of us, counsel our active and
Il enterprisIng countrymen to be constantly
III a paper currency, and, by conducting
4 business as nearly as possible ON system Of
4 cash payments or short credits to hold
y themselves prepared to. return to the stand
ard of gold and silver, 10 aid our fellow
citizens in the prudent management of their
monetary affairs, the duty devolses on us to
diminish the amount of paper money now
a In circulation by law. Five years ago the
a bank note circulation of the country amount
Z ed to not much more than two hundred mil-
lions; now the circulation, bank and national,
exceeds seven hundred millions. The SIM
4 pie statement of the fact recommends more
/ strongly than any words of mine could do,
4 the necessity of onr restraining this expan-
: sion. The gradual reduction of the eur-
rency is the only measure that can save the
& business of the country from disastrous ca
laInities; and this can be almost impelcepti-
bly, accomplished by gradually funding the
national circulation in securities that may
be made redeemable at the pleasure Of the
q Government.
'Ia Our debt is doubly secure first ii the
j actual wealth and still greater undeveloped
resources of the country; and next in the
character of our. institutions. The most IN
telligent observers among political econo-
4 mists have not failed to remark that the
PUBLIC debt of country is safe in proportion
! as. its neople are free; that the debt of re-
Il public Is the safest of all. Our history con
firms and establishes the theory, and is, Z
4 firmly believe, destined to give it still more
signal illustration. The secret of this su-
4 periority springs not merely from. the fact.
that in republic the national obligation sare
! distributed more widely through countless
numbers in all classes Of society; it has It's
root in the character of our laws Here all
men contribute to the, public welfare, and
t'bear their faif share Of the public b1rdens.
During hewar, under the impulse of patriot
1 ism, the men of the great body of the people,
4 without regard to their own comparative
want of wealth, thronged to our armies and
I filled our fleets of war, and held them selves
ready to offer their lives for the public good.
| Now, IN their turn, the property and income
of the country should bear their Just propor
ton of the burden of taxation, while IN our
impost system, through means of which IN
creased vitality is Incidentally impaired to
all the industrial interests of the nation, the
duties should be SO adjusted as to fall most
heavily on articles of luxury, leaving the
/ necessaries of life as free from taxation as
4 the absolute wants Of the government, econ
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