The Lancaster gazette. [volume] (Lancaster, Ohio) 1863-1886, 1865-12-21
REPORT OF THE SECRETARY OF
r TIE TREASURY.


.r RBE TREASURY. !
We regret that we have not space TO |
give this report in full, which, owing |
to extreme length, is impossible. Wei
make some extracts upon the topics Of
most general interest 70 our readers.
The Secretary gives the following as
his views in regard to the safest and
speediest manner ofpaying the public !
debt: '
Various plans have been suggested !
for the payment Of the de- but the
Secretary secs TO way 10 accomplish |
it bat by an increase OF the nationalin
come beyond the national expenditures.
In matter Of so much importance as
this, experiments areout Of place. The
plain be lten path vf experience is the
only safe one TO tread.
" The first step to be taken IT, 10 in
stitute measures for funding the obi
cations that are soon 10 mature. The
next is, to provide for raising, in u man
nor the least oppressive and odions to
taxpayers, the revenues necessary to
pay the interest on the debt and a
certain definite amount annually for
the reduction Of tho principal. Tho
Secretary respectfully suggests that
on this subject, the expression Of
Congress should be decided and en-
phatic. II is Of tho greutest irnpor-
lance. in the Infringement Of u matter
Of so surprising interest, tl!st tue right
start be made Nothing but revenue
will sustain the national credit. and
nothing less than fixed policy for the
reduction Of the public debt, will be
likely TO prevent its increase y
Here follows statement by items Of
the public debt, Oct 3lst, 1865 amour
ting in the aggregate (wilhou, deduct.
ing funds in the Treasury To S2,s0S,.
{ 549,437 55. Speaking ol taxes i'll the
Southern States, the Secretary has the
following: - .1f
There are some subjects presented
! in the Report Of the Commissioner Vi
Internal Revenue which require the
attention of Congress before the report
of the commission is received, and in
relation to which there should be early
action. ........
"In putting into operation the sys-
TEN of internal revenue in the recent
ly rebcllious States it became necessa-
ry for the Secretary to decide whether
or not an effort should be made to col
lect the taxes which accrued prior TO
the establishment of revenue offices
therein. After giving the subject due
consideration, the Secretary, in view OF
the facts that there were no federal
revenue officers to whom payment OF
taxes could be made--that the people
(many of then inyoluntarily) had
been subjected to heavy taxation BY
the Government which was attempted
to be established in opposition to that
of The United States, and had been
greatly exhausted by the ravages OF
war, issued n circular under date OF
the 21st of June, declaring that with
out waving in any degree the right
of the Government with regard to
tlxes which before that time had ac-
erued in the States and Territories in
, insurrecton, or assuming to cxonerate
the tax payer from his legal RESPONSE
bility for such taxes, the Department
did not deem it advisable to insist, al
6 present, on that payment, SO far as
they werepayable prior to the establish
ment OF Il collection district enibi acing
the territories in which the tax paye,
. resided
= For substantially the same reasons
that influenced the Secretary TO issu,
this circular. he deemed it TO be hi
& duty TO suspend all further sales unde
. the direct tax law. Tax commission
I. ers. however, have been appointed TO
:. each State, and collections have beeI
made, as far us it has been practicable
. to make them, without sales Of prop
crty. s ..
/, ''Some sales had, however, beer
: previously made in many OF the States
: and large amounts OF property ha'
. been purchased by the Government
: In South Carolina Il portion OF the liant
thus purchased has since been soll
= under the llth section OF the act o
y August, 1853
y during the war the laws in regar'
+, to stamps have been, OF course, IN Tn
= insurrco,i)nary States, entirely disrc
garded and, as II consequence, lin
mense interests are thereby lmpcriled
I'm view, therefore, OF the recen
;, and present condition Of the Souther
= States, the Secretery recommends
First. That the collection OF interna
revenue taxes which accrued beior
tho establishment Of revenue offices i
the States recently in rebellion, be IN
definitely po toned. ,
Second. That all sales of propert
in those States, undtr the direct ia
1t law, be suspended until tho State
e shall have an opportunity ofassumin
s (as was done by the loyal Statcs) th
l. payment of the tax assessed upon then
st Third. That all such transactions
r such States, which may be invalid b
the use of stamps, bc lcgalized as t'
as it is iu the power OF Congress
legaiize them.
What action, if any, should be t
s. ken for the relief OF persons in tho'
n, States whose property has been so
a. under the direct tax law, and is no
j. held by the Government, it will be II
Or Congress to determine. The Secret,
< ry is decidedly of the opinion that lii
10 eral legislation in regard to the sax'
US which accrued prior 10 the suppresslc
p. oF Tho rahallion will tend to promo