Bradford reporter. [volume] (Towanda, Pa.) 1844-1884, 1865-12-07

to admit of an enlargement ming up tac
ranks to $4,000, if the circumstances OF the
should require an augmentation OF
the army. The volunteer force has already
been reduced by the discharge from service
of over 800,0 900 troops, and the department
is proceeding rapidly in the work Of further
reduction. The war estimates are reduced
from S5I6,2O0,l ,l3l to $33, ,Sl4, 46l, which
amount, in the opinion OF the department,
is adequate for peace establishment. Inc
measures of retrenchment III each bureau
and branch Of the service exhibit dlllgent
economy worthy of commentator. Reicr-
ence is also made i'll the report to the neces-
sty of providing for uniform militia sys-
TEN, and to the propriety Of making suit
able provision for wounded and disabled
officers and soldiers.
OUR REVENUE SYSTEM.
The revenue system of the country Is
subject of vital interest to It's honor and
prosperity. and should command the earnest
consideration Of Congress. The Secretary
of the Treasury will lay before you full
and detailed report of the receipts and dis
bursements of the last fiscal year, OF the
first quarter of the present fiscal year, OF
the probable receipts and expenditures for
the other three quarters, and the estimates
for the year following the 30th of June, 1866.
| might content myself with reference to
that report, in which you will find all the
information required for your deliberations
and decision But the paramount impor-
tance of the subject so presses itself on my
own mind, that cannot but lay before you
my views of the measures which are re-
quired for the good character, and, | might
almost say, for the existence Of this people.
The life of republic lies certainly in the
energy, virtue and intelligence of its citi-
zens but it is equally true that ii good
revenue system is the life Of an organized
government | meet you at time when
the nation has voluntarily burdened itself
with a debt unprecedented in our annals.
Vast as is its, amount, it fades away into
nothing when compared with the countless
blessings that will be conferred upon our
country and upon man by the preservation
of the nations life Now, on the first oc-
casion of the meeting of Congress since the
return of peace, it is of the utmost impor-
tance to inaugurate just policy, which
shall commend itself to those who come at
ter lis for its continuance. We must aim
at nothing less than the complete efface-
ment Of the financial evils that necessarily
follow state Of civil war. We must en-
deavor to apply the earliest remedy to the
deranged state of the currency, and not
shrink from devising policy which, with
ont being oppressive to the people, shall
Immediately begin TO effect reduction of
the debt and, if persisted in, discharge it
fully within a definitely fixed number Of
years.
THE NATIONAL CURRENCY.
1t is our first duty to prepare III earnest
for our recovery from the ever-increasng
evils of irredeemable currency, without a
sudden revulsion, and yet without untilne-
ly procrastination For the end we must,
each In his respective positions, prepare
the way hold it the duty of the Execu-
tive to insist upon frugality IN the expen-
ditures and sparing economy is itself a
great national resource OF the banks to
which authority has been given to issue
notes secured by bonds of the United States
we may require the greatest moderation
and prudence, and the law must be rigidly
enforced when its limits are exceeded. We
may, each one of u.s. counsel our active
and enterprising countrymen to be con
stantly on their guard, to liquidate debts
contracted in paper currency, and by
conducting business as nearly as possible on
a system of cash payments or short credits
to hold themselves prepared to return to
the standard of gold and silver. To aid
our fellow-citizens in the prudent manage
ment of their monetary affairs, the duty
devolves on us 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 circu-
lation, bank and national, exceeds seven
hundred millions The simple statement OF
the fact recommends more strongly than
any words Of mine could do, the necessity
of our restraining that expansion The grad
ual 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 accom-.
plished by gradually funding the national
circulation in securities that may be made
redeemable at the pleasure Of the govern.
ment
AGRICULTURE
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
of its management reference is made to
the annual report of the Commissioner.
GENERAL VIEW OF DOMESTIC AFFAIRS.
have dwelt thus fully on our domestic
affairs because of their transcendent i'm
portance. Under any circumstances, our
great extent of territory and variety of
climate, producing almost everything that
is necessary for the wants, and even the
comforts Of man, make us singularly indie
pendent of the varying policy of foreign
powers, and protect us against every
temptation to 'entangling alliances, while
at the present moment the reestablishment
of harmony, and the strength that comes
from harmony, will be our best security
against nations who feel power and for
get right" For myself, it has been and it
will be my constant aim to promote peace
and amity with all foreign nations and
powers and | have every reason to be-
lieve that they all, without exception, are
animated by the same disposition Our
relations with the Emperor of China, SO re-
cent IN their origin, are most friendly
Our commerce with his domnions is re-
ceiving new developments, and it is very
pleasing to find that the government of
that great emuire manifeRts satisfaction