Dallas herald. [volume] (Dallas, Tex.) 1849-1873, 1866-01-06

iNcd 30 Na 10 Nunlt OF nm enlarge.
mcnt by filling up The ranks to
cighiy-two thousand six hundred,
IL thc circumstances Of tho country
should require an augmentation OF
the army. The volunteer force has
already been reduced by the dis.
charge nom service Of over eight
hundred thousand troops, and the
department. is proceeding rapidly
IN The worl; of further reduction,
Tho war estimates arcreducod from
S5l6,2i0131 10 $3S,Sil,IGl, which
amount in The opinion OF the De-
parmcnt, is adequate for n peace
establishment, The measures ofrc.
trenchmcnt in each Bureau and
branch of the service, exhibit n dill
igcnt economy worthy Of common
dation. Reference is also made in
the report 10 tho necessity Of pro-
viding for Il uniform militia system,
and to the prOpricty OF making
suitable provision for wounded and
disabled officers and soldiers.
The revenue system Of the coun-
try is Il subject OF vital interest to
its honor and prosperity, and should
command tho earnest consideration
of Congress-. The Secretary of the
Treasury will lay before you n full
and detailed report of the receipts
and disbursements of tho last fiscal
year, Of the first quarter Of the pre-.
sent fiscal year, Of the probable re-
ceipts and expenditures for the 9TH
CT three quarters, and the estimates
for the year following the seth of
juno, 1866, I might content my
self with reference to that report,
in which You will find all the infor-
nation required for your delibera-
lions and decision. But the para
mount importance Of the subject so
presses itself on my own mind, that
l cannot but lay before you my
views of the measures which are
required for the good character, and
l might almost say, forthc existence
of this people. The life of a repub-
lie lies certainly in the energy, vir-
tue, and Intelligence Of its citizens /;
but it is equally true that good
revenue system is the life of an or
ganized Government. / meet you
at time when the nation has vol
unfairly burdened itsclfwith debt
unprecedented in our annals. Vast
as is its amount, it fades away into
nothing when compared with the
countless blessings that will be con-
ferred upon our country and upon
man by the preservation of the ma
tons life. Now, on the first occa-
sion Of the meeting Of Congress
since the return Of peace, it is OF the
utmost Importance to inaugurate q
just policy, which shall at once be
put in motion, and which shall COM
mend itself to those who come Of
ter us for it's continuance. Wemust
aim at nothing less than the COM
plotc placement of the financial
evils that necessarily followed a
state of civilwar. Wcmust endeav.
or to apply the earliest remedy to
the deranged state Of the currency,
and not shrink from devising pol
icy which, without being oppres-
sive to the people, shall immediate
ly begin to affect a reduction of the
debt, and, if persisted 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
cver-increasing evils Of an ire
decmablc currency, without sud
den revulsion, and yet without un-
timely procrastination. For that
end, we must, each in our respec-
tive positions, prepare the way. |
hold it the duty of the Executive
to insist upon frugality in the
expenditures; and sparing econ
omy is itself a great national re-
source. or lhe banks TO which au-
thority 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 enfore-
ed when its limits are exceeded. We
may, each one of us, counsel our ac-
tive and enterprising countrymen to
be constantly on their guard, to liz
ouidate debts contracted in a paper
currency, and, by conducting bust
ness as nearly as possible on a sys-
tenn of cash payments or short credit.
to hold themselves prepared to re
turn to the standard Of gold and sill
yer. To aid our fellow-citizens in
the prudent management 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 circu-
lation of the country amounted to
not more than two hundred mil
lions now the circulation, bank
and national, exceeds seven hun
bred millions. The simple state
ment Of the fact recommends more
strongly than any words of mine
could do, the necessity of our re-
straining this expansion. The