Belmont chronicle. [volume] (St. Clairsville, Ohio) 1855-1973, 1865-12-07

sides TO ocean mail steamship Iipas, unon |
estao aolished. routes, and in favor of continu-
ipgtbe present system, which limits tho |
compensation for ocean service to the post.
age earnings, are recommended to the care
ful consideration Of Congress.
ltappearsfrom the report ofthe Secretary
OF the Navy, that while, at the commence
ment OF the present year, there were in CON-
mission $50 vessels of all dissertations arm. |
ed with 1900 guns aud manned by 81 600
men, the numbcrof vessels AT present in
commission is III, with $50 guns and 10. |
l20 men By this prompt reduction of the |
naval forces the expenses of the Govern
ment have been largely diminished, and a
Bumber OF vessels. purchased for naval pur-
poses from the merchant marine, have been
returned to the peaceful pursuits of COM
merce. Since the suppression of active hos.
tilities our foreign squadrons have been re-
established, and &C assist of vessels much
more efficient than those employed on sim.
liar service previous to the rebellion. The
suggestion for the enlargement of the navy
yards, asd especially the establishment of
6ne in fresh water for iron clad vessels, is
deserving OF consideration, as is also the re-
commmendation for different location and
more ample grounds for the Naval Acad.
enly.. ~ 'i re
In the report of the Secretary Of War, a
general summary is given of the military
campaigns OF 1864 and 1865, ending in the
suppression of armed resistance to the ma.
tional authority in the insurgent States.
The operations ofthe general administrative
Bureaus OF the War Department during the
past year are detailed, and an estimate
made of the appropriations that will be re-
qulred for military purposes in the fiscal
year commencing the Both day of June,
1860. The national military force on the ] st
OF May, 1865, numbered l,0005l6 men. 1t
is proposed to reduce the military establish
ment to peace footing, comprehending hf-
| ty thousand troops of all arms, Organized so
as to admit of an enlargement by filling up
the ranks to eighty two thousand six hun.
dred. II the circumstances of the county
should require an augmentation of the army
! The volunteer force has already been re-
dnced by the di,charge from serv C. Of over
eight hundred thousand troops, and the De.
partmcni Is proceeding rapidly in the work
OF further reduction. The war estimates
are rednced from $5l6.24D, l3T to S33 Sl4,-
4l6 which amount, in the opinion OF the
department: is adequate for peace estab-
hshment The mes as,tres of retrenchment
IN each Bureau and branch Of the service
exhibit diligent economy worthy of com
inendation. Reference il also made in the
report to the necessity of providing for a
uniform militia system, and to the propriety
OF making suitable provision for wounded
and disabled officers and soldiers.
The revenue system of the country is a
! suhJect oil vital interest to its honor and
prosperity, and should command the earn.
est consideration Of Congress. The Secre-
tary of the Treasury will lay before you a
full and detailed report of the receipts and
disbursements 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 Both of June,
1866. might content myself with refer
ence to that report, in which you will fud
all the Information required for your delib-
eratlons and decision. But the paramount
Importance Of the subject 50 presses itself
on my own mind. that cannot but lay be-
| lore y0n my views of the measures which
| are required for the good character, and |
! might say for the existence of this people.
The life OF the republic lies certainly in the
energy, virtue and intelligence of its clti
zens; but II is equally true that good rev.
enue system is the lite Of an organized gov
/ ernmeDt.
meet You at a time when the nation
has voluntarily burdened itself with debt
unparalleled in our annals. Vast as is its
amount, it fades away to nothing when it is
compared with the countless blessings that
will be conferred upon our country and up-
on man by the preservation of the nations
lite. Now, on the first occasion Of the meet
ing OF Congress since the return of peace,
II Is OF the utmost Importance TO inaugu
rate a just policy which shallat once be put in
motion, and which shall commend itself to
those who come after lis for its continu.
ance. We must aim at nothing less than
the complete effscement of the financial
evils that necessarily followed state of
civil war. We must endeavor to apply the
earliest remedy to the deranged state ofthe
currency, and not shrink from devising
policy which, without being oppressive TO
the people, shall Immediately begin to ef
feet reduction ofthe debt, and, If persist
ed in, discharge it fully within a definitely
fixed number Of years.
1t Is our first duty to prepare in earnest
for our recovery from the ever.increasipp
evils Of mn irredeemable currency, without
a sudden revulSion, and yet without untime
ly procras nation. For that end we must,
each IN our respective positions. prepare the |
way. lhold it the duty of the Executive
to insist upon frugality in the expenditures,
and sparlng economy is itself great ma
uonal resource. VI the bankstO which au- |
thority has been given to issue notes secur- |
ed by bonds of the United States, we NAV
require the greatest moderation and pru-
dcnce,. and the law must be rigidlv enforced |
when its limits sre exceeded. We may,
each one OF us, counsel our active and en-
terprlsing countrymen to be constantly on
their guard, to liquidate debts contracted
in paper currency, and by conducting bust
ness as nearly as possible on a system of
cash payments or short credits, to hold
themselves prepared to return TO the stand.
ard Of gold and silver. To aid our fellow
citizens in the prudent management of their
monetary affairs, the duty devolves o n us TO
dimlnish by law the amount of paper money
now in circulation. Five years ago the
bank-note circulation of the country amoun-
ted to not much more than two hundred
millions; now the circulation, bank and ma.
tional, exceeds seven hundred millions. =
The simple statement of the fact recon-
mends more strongly than any words of mine
could do, the necessity of restraining this
The gradual reduction of the
currency is the only measure that can save
the country from disastrous Gala mites, and
his can DO almost imperceptibly accomp
ished by gradually funding the national cir
,uation in securities that may be made re
ieemable at the pleasure of the Govern