Charles City intelligencer., 1865-12-14


l3l to S33, 3,sl4,46i, which amount, in
the opinion of the Department, is ade-
uuate for a peace establishment The
measures Of retrenchment in each Bu-
reau and branch of the service exhibit
a diligent economy worthy of commen-
dation. Reference is also made in the
report topthe necessity of providing
for a uniform militia system, and to
the propricty of making suitable pro-
vision for wounded and disabled oti.
GERS and soldiers. 4
The revenue system Of the country
is subject of vital interest to Its honor
and prosperity, and should command
the earnest consideration Of Congress.
The Secretary Of the Treasury, WIN
lay before you full aud detailed re.
mort Of the receipts aud disbursement
of the last fiscal year. of the first quar-
ter of the present fiscal year, ot tue
probable receipts and expenditures ior
the other three quarters, and the estl-
mates for the year following the 3Oth
of June, 1866. might content my
self 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 required for the good char
acter, and | might almost say, for the
existence of this people. The life Of a
Republic lies certainly in the energy,
virtue, and intelligence Of it's citizens;
but il is equally true that good reye-
nue. system is the life of an organized
Government. / meet you at time
when the nation has voluntarily bur-
dened itself with debt unprecedent-
ed in onr annals. Vast as is its amount,
It fades away into nothing when CON-
pared with the countless blessings
that will be conferred upon our coun-
try aud upon man by the preservation
Of the nations fife. Now, on the first
occasion of the meeting Of Congress
since the return of peace, it is of the
utmost Importance to inaugurate
lust policy, which shall at once he put
in motion, and which shall commend
itselfto those who come after us for its
continuance. We must aim at nothing
less than the complete efacement OF
the financial evils that necessarily FOL
lowed state of civil war. We must
endeavor to apply the earliest remedy
to the derangcd state of the currency,
and not shrink from devising a policy
which, without being oppressive to the
people, shall Immediately begin to ef.
feet q reduction Of the debt, and if per.
sisted in, discharge it fully within a
definitely fixed number Of years. -,
Itis our first duty to prepare in earn
est for our recovery from the cvcf-iu
creasing evils Of an irredeemable curen
cy, without sudden revulsion, and
yet without untimely procrastination
For that end, we must, each in our res
pectiye positions. prepare tho way.
hold it the duty Of the Executive I,
insist upon frugality in the expcndi
5 lures and sparing economy is itsel
, a great national resource. Of tn
banks to which authority has beeI
given tn issue notes secured 10y bond
Of the United States, we may reQnir
the greatest moderation and prudenc,
and the law must be rigidIy enforce
when it's limits are exceeded. w
may, each one Of us, counsel our &C
i've and enterprising countrymen I
be constantly on their guard, to liqu
date debts contracted 10 paper Gu
rency. and, by conducting business q
nearly as possible on system Of cas-
:, payments or short credits, TO hold theu
selves prepared to return to the stant
ard of gold and silver. TO aid our fe
low-citizens in the prudent manage
ment OF their monetary affairs, the d,
ty devolves on Us 10 diminish by la'
the amount of paper money now in Gil
ri culation. Five years ago the bank
note circulation Of the country amour
ted to not much more than two hun
!. dred millions; now the circulation
bank and national, exceeds seven hnr
dred millions. The simple statemer
Of the fact recommends more strongl
than any words of mine could do, til
necessity Of our restraining this e,
pansion The gradual reduction G
the currency 10 the only measure tina
= can save the business of the countr
from disastrous calamitcs; and thi
can be almost imperceptibly accomE
lished by gradually funding the nation
al circulation in securities that ma,
he made redeemable ut the pleasure q
: the Governmeuf.
Our debt is doubly secure-frst il
the actual wealth aud still greater un
developed resources Of our institu.
tions. The most intelligent observer.
among political economists have no,
failed to remark, that the public deb
Of . country is safe in proportion q,
its people are free; that the debt Of
republic 10 the safest Of all. Our his
tory confirms and establishes the theo
ry, and 10. firmly believe. destined t
give it still more signal illustration
The secret of this superiority spring
not merely from the fact that in re
public the national obligations are dis
tribnted more widely through count
less numbers in all classes Of society
1t has its root 10 the character Of on
laws. Here all men contribute to tn,
public welfare. and bear their fai
: share Of the public burdens. During
the war, under the impulses Of patriot
ism, the men Of the great body of tn,
people. without regard to their owl
comparative want Of wealth, thronget
% our armies aud filled our fleets .
war, and held themselves ready to oil
Ter their lives for the public good
: Now, in their turn. the property al,
income Of the country should bea
their just proportion Of the burden o
taxation, while in our impost system
through means Of which increased vi
tality is incidentally impaired to al
the industrial interests OF the nation
the rates OF duties should be so adjust
ed as to fall most heavily on articles
of luxury, leaving the necessarries o
life free from taxation as the absolute
wants Of the Government. economic
aIIy administered will iusiifv No IA.