Fremont journal. [volume] (Fremont, Sandusky County [Ohio]) 1853-1866, 1865-12-08

|
reduction of the currency is the only measure
that can save the business of the country from
disastrous calamities; and this can be almost
inperceptibly accomplished by gradually fund
ing the national circulation in securities that
may be made redeemable at the pleasure of the
Government.
Our de t is doubly secure-frst in the actual
wealth and still greater undeveloped resources
of the country; and hext in character ofo in
stitutioDs. The most intelligent observers
among political economists have not failed to
remark, that the public debtof country is safe
in proportion as its people are free; that debt of
a republic is the safest of all. Our history con-
firms and establishes the theory, and is, firmly
| believe. destined TO give it still more signal
Illustration. The secret of this superiority
springs not merely from the fact that in re-
public the national obligations are distributed
more widely through countless numbers in all
classes of society; it has its root in the character
of our laws. Here all men contribute to the
| public welfare. and bear their fair share of the
1 public burdens. During the war, under the
| impulses of patriotism, the men of the great
body of the people, without regard to their own
comparative want of wealth. thronged to our
armies and filed our fleets o. war, and held
themselves ready to offer their lives for the pub
lie good. Now, in their turn, the property and
| income of the country should bear their Just
proportion of the burden of taxation, while in
our iUpost sy stem, 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 Decessares of life
as free from taxation as the absolute wants of
the Government economically administered.
will Justify. No fdvored class should demand
freedom from assessment, and the taxes should
be SO distributed as not to fall unduly on the
poor, but rather on the accumulated wealth of
the country. We should look at the national
debt just as it is-not as national blessing, but
as heavy burden on the industry of the coun-
try to be discharged without unnecessary delay.
1t is estimated by the secretary of the
Treasury that the expenditures for the fis-
cal year, ending the 30th of June, 1866,
will exceed the receipts SIP, 1914, ,947. 1t
is gratifying, however, to state that it is
also estimated that the revenue for the
year ending the goth day of June, 1857,
will exceed the expenditures in the sum Of
Ill, ,982,818. This amount or so much
as may be deemed sufficient for the pur-
pose, may be applied to the reduction OF
the public debt which on the 3lst day OF
October, 1865, was 50, 74O, s54, $50. Ev-
cry reduction will diminish the total
amount of interest to be paid, and so en-
large the means Of still further reductions,
until the whole shall be iquidated; and
this, as will be seen from the estimates OF
the Secretsry of the Treasury, may be ac-
compGshed by annual payments even
within period not exceeding thirty years.
l have faith that we shall do all this within
a reasonable time; that, as we have
amazed the world by the suppression of a
civil war which was thought to be beyond
the control of any Government, SO we
shall equally show the superiority of our
institutions by the prompt and faithful
discharge of our national obligations
The department of Agriculture, under
its present direction, is accomplishing
much in developing and utilizing the vast
agricultural capabilities of the country,
and for information respecting the details
the annual report of the Commissioner.
l have dwelt thus fully on our domestic
affairs because of their transcedet import
ance. Under auy circumstances, our
great extent of territory and variety of eli
mate, producing almost every thing that
is necessary for the wants, and even COM
forts of man, making us singularly indie
pendent of the varying policy of Foreign
Powers, and protect us against every
temptation to ''entangGng alliances" while
at the present moment the re-establish-
ment of harmy, ahd the strength that
comes from harmony, will be our best Sc
curity against 'nations who feel power and
forget right" For myself, it has been
ann will be my constant aim to promote
peace and amity with all foreign nations
and Powers; and l have every reason to
believe that they all, without exception,
are animated in the tsame disposition
Our relations with the Emperor of China,
so recent in their origin, are most friendly.
Our commerce with his dominions is re-
ceiving new developments; and it is very
pleasing to find that the Government o.
that great Empire manifests satisfaction
with our policy, and reposes just conf
dence in the fairness which marks our in
tercourse. The unkroken harmony be-
tween the United States and the Emperor
of Russia is receiving new support from
an enterprise designed to carry telegraphic
lines across the continent of Asia, through
his dominions, and so to connect us with
all Europe by new channel of inter
course. Our commerce with South
America is about to receive encourage
ment by diIect line of mail steamships
to the rising Empire of Brazil. The dis
tinguished party of men of science who
have recently left our country to make a
scientific exploration of the natural history
of rivers hnd mountain ranges of that re-
gion, have received from the Emperor
that generous welcome which was to have
been expected from his constant friendship
for the United States, and his well known
zeal in promoting the advancement of
knowledge. A hope is entertained that
our commerce with the rich and populous
cnuntries that border the Mediterranean
sea may be largely increased. Nothing
will be wanting, on the part of this Gov
ernment to extend the protection of our
flag over the enterprise of our fellow-citi-
zens. We receive from the Powers in
that region assurances of good will; and
it is worthy of note that a special envy
has brought us messages of coincidence on
the death of our late Chief Magistrate from
the Bey of Tunis, whose rule includes the
old dominions of Carthage, on the African
coast.
Our domestic contest, now happily end
ed, has left some traces in our relations
with one at least of the great maritime
powers. The formal accordance of belig-
erent rights to the insurgent States was
unprecedented, and has not beeu justified
by the issue. But in the system of neu-
trality pursued by the powers which made
that concession, there was a marked diff
ference. The materials of war for the in
surgent States were furnished, in great
measure from the workshops of Great
Britain; and British ships, named by
British subjects, and prepared for receiv-
ing British armaments, sailed from the
D.