Mineral Point weekly tribune. (Mineral Point, Wis.) 1859-1868, 1865-12-13

othereGt location and more ample grounds
for the Naval Academy
In the report of the Secretary Of War,
general summary is given Of the military
campaigns of 1864 and 1865, ending in
the suppression Of armed resistance to the
national authority in the iTsurgenu states.
The operations OF the general admlnIstra-
tive Bureaus of the War Department dur
ing the past year are detailed, and an es-
innate made of the appropriations that
will be required for military purposes IN
the fiscal year commencing the 3oth day
of June, 1866 The national military force
on the lst of May, 1865, numbered I,ouO-
5l6 men. 1t is proposed to reduce the
military establishment to peace footing,
comprshendin, fifty thousand troops oil
all arms, organized 50 as to admit OF an
enlargement by filing up the ranks to
eichty-two thousand six hundred, if the
circumstances OF the country shall require
an augmentation &c the army. The vol
unteer force has already been reduced by
the discharge from service of over eight
hundred thousand troops, and the Depart
ment is proceeding rapidly in the work of
further reduction. The war estimates
are reduced from Sj16, $40 l3l to 233, Sl4, :
46l, which amount, in the opinion of the
Department, is adequate for a peace es-
tablishment The measures of retrench-
ment in each Bureau and branch Of the
service exhibit diligent economy worthy
of commentator Reference is also made
in the report to the necessity of providing
for uniform militia system, and TO the
propriety Of making suitable provision for
wounded and disabled officers and sol
diers
The revenue system Of the country Is
subject Of vital interest to its honor and
prosperity, and should command the earn
st consideration of Congress. The Sec
.etary of the Treasury will lay before you
4 full and detailed report of the receipts
md disbursements Of the last fisca! wear,
of the first quarter Of the present fiscal
wear. of the probable receipts and expend>
itures for the other three quarters, and
the estimates for the year following the
goth of June, 1866 | might content my
self with a reference to that report IN
which YOU will find all the information
REQUIRED for YOUR deliberations and de-
a'sion But the paramount Importance
4 the subject so presses itself on my own
uind, that cannot but lay before you my
views Of the measures which are required
for the good character, AMI, light almost
say. for the existence Of this people The
life Of a Republic lies certainly in the ener-
~, virtue, and intelligence of its citizens;
but it is equally true that good revenue
eystem il the life of an organized Govern
mcnt | meet you ut Il time when the
nation has voluntarily burdened itself with
4 debt unprecedented in our annals. Vast
MS il its amount it fades away into moth
ing when compared with tie countless
blessings that will be conferred upon our
country and upon man by the preserTa-
ton of the nations life. Now, on the
first occasion Of the meeting Of Congress
since the return of peace, it Is Of the ut
most Importance to inauEurate a just pOl>
icy, which shall at once he put in motion,
ami which shall commend itself II those
who come after Us for It's continuance
We must aim at nothing loss than the
complete placement OF the financial erils
that necessarily followed a state Of civil
war. We must endeavor 10 apply the
earliest remedy to the deranzed state of
the currency, and not shrink from devils
ing 4 policy W ich, without being oppres-
sive TO the people, shall Immediately be-
gin to effect a reduction of the debt and
il persisted in, discharge it fully within a
definitely fixed number of years.
1t ) our first duty to prepare in earnest
for our recOrerv from the eEer-iHcreasing
evils OF an irredeemable currency, without
n sudden revulsion, and vet without un-
timely prOcrastinatiou. For that end, we
must each in our respective positions,
prepare the wlv | hold it the duty of
the Executive to insist upon frugahty IN
the expenditures and sp1ring economy
IS Itself great national resource. Otthe
banks to which authority has been given
to issue notes secured by bonds OF the
| nitcd States, we NAV require the great
est moderation and prudence, and the law
must be rigidlr enforced when its limits
are exceeded. fte NAV, each one of US,
counsel orr active md euterprising coun-
tTymen to be constantly on their guard,
u liquidlto debts contracted in 4 paper
currency, and, by conducting business as
nearly rs possible on n system Of cash
payments or short credits, to hold Them
selves prepared to return to the standard
Of gold and silver To aid our fellow
citizens In the prudent management of
their monetary affairs. The duty devolves
on rs to diminish BY law the amount Of
paper money now in circulation Five
years ago the bank note circulation Of the
country amounted to not much more than
two hundred millions; now the circula-
ton, bank and national, exceeds seven
hundred millions The simple statement
oil the fact recommends more strongly
than any words Of mine could do, the
NJ cssity ofoEr restraining this expansion
The gradual reduction of the currency i
the only measure that can save the bust
ness of the country from disastrous cali
antilles and this can be almost imper-
ceptibly accomplished by gradually fund
In the national circulation in securities
that may be made reasonable nj tbs
pleasure Of the Government.
Oar debt is douhlv secure-tirst in the
actual wealth and still greater undeveIop
ed resources of the country; and next in
tie character of our institutions. The
Z most Intelligent observers among political
economists have not failed 70 remark cha
ne public debt of 4 country is safe IN
proportion rs its people are free: that the
debt of republic Is the safest of all
Our history confirms and establishes the
theory, and is, ! firmly believe, destined
70 give it u still moro signal illustration
The secret Of this superiority springs no
merely from the fact that in a repuhli,
the national obligations are Distribute
moro widely through countless number.
= all classes of society; it has its root il
e character of our laws Here all mcI
contribute to the public welfare, and Nea