North Branch democrat. [volume] (Tunkhannock, Pa.) 1854-1867, 1866-12-12

by such modification of our revenue law S
as will be consistent with the public faith,
and the legitimate and necessary wants of
the Government.
The report presents much more salts
factory condition of Our finances than one
year ago the most sanguine could have
anticipated. During the fiscal year end
ing the 30th June, 1865, the last year of
the war, the public debt was increased
$94l 900, ,537, and on the 3lst of October,
1865, 1t announced to S2740,s64,750-
On the 3lst day of October. 1866. 1t had
been reduced to s., ,55l l,3l0,006, the dimi
mutton, during period of fourteen months
commencing September ], 1865. and end
ing October 81, 1866, having been $780,
1856. Tn the last annual report on the
state of the finances, it was estimated that
during the three quarters of the fiscal
year ending the 30th of June last, the
debt would be increased $lI2,194.947.-
During that period, however, it was re-
duced $3l. .l96, ,3S7, the receipts of the
year having been ss9.9O5, ,9O5 more, ard
the expenditures 0O,529,235 less than
the estimates Nothing cuud more clear
ly indicate thn these statements the ex
tent and availability of the national re
sources, and sbe rapidity aud safety with
which, under onr form Of government,
great military and naval establishment can
be dIsbanded, and expenses reduced from
a war to peace footing.
During the fiscal year ending the 30th
of June, 1866, the receipts were S558,032-
620, ana the expenditures S520,750.940,
leaving an available surplus Of $37, 7,28l,
$50, 1t is estimated that the receipts for
the fiscal year ending the 30th of june,
1867, will be- S476,O6l, 1885, and that the
expenditures will reach the sum of $780,
429.078, leaving in the Treasury a surplus
of sl58,33.3OS For the fiscal year end
lug June 80, 1868, it's estimatrd that the
receipts will amount to $436,000, 900, and
that the expenditures will be $3.50, ,247 ,64l
showing an excess of SS5,752,359 in
favor of the Government. These estima-
ted receipts may be diminished by re-
duction of excise and import duties but
after all necessary reductions shall have
been made, the revenue of the present and
of following years will doubtless oe'suffi-
Glen: to cover all legitimate charges upon
the Treasury, and leave a. large annual
surplus to be applied to the payment Of
the principal of the debt. There seems
now to be no good reason why taxes may
not be reduced as the country advances
in population and wealth, and yet debt be
extinguished within the next quarter OF
century. .. ...a
The report of the Secretary of War fur
nishes valuable and important information
in reference to the operations of his De-
partment during the past year. Few vol
nnteers now remain in the service, and
they are being discharged as rapidly as
thrp can be replaced by regular troops
The army has been promptly paid, careful
ly provided with medical treatment, well
sheltered and subsisted, and is to be fur
nished with breech-Ioadlng small arms
The military strength of the nation has
been unimpaired by the discharge of vol.
unteers, the disposition of unserviceable
or perishable stores, and the retreuchment
of expenditure. Sufficient war material to
meet any emergency has been retained,
and, from the disbanded volunteers stand.
ing ready to respond to the national call.
large armies Can be rapidly organized
equipped, and concentrated. tort,fica-
tions on the coast and frontier have re-
ceived, or are being prepared for more
powerful armaments; lake surveys and
barber and. river improvements are in
course OF energetic prosecution. ,Prepara-
tions have been made for the payment of
the additional bounties authorized during
the recent session of Congress, under such
regulations as will protect the Government
from fraud, and secure to the honorably-
discharged soldier the well-earned reward
of his faithfulness and gallantly. More
than six thousand manned soldiers have
received artificial limbs or other surgical
apparatus; and forty. one national cemeta-
ries, containing the remains of l04 ,526
Union soldiers, have already been estab-
lished. The total estimates of military
appropriations isS25. .2O5,669. s
1t is stated in the report of the Secreta-
ry of the Navy that the naval force at
this time consists oftwo hundred and sew
enty-right vessels, armed with two thou
sand three hundred and fifty-one guns
Of these, one hundred and fifteen vessels,
carrying one thoasauG and iwenty-nine
guns, are in commission, distributed chief
iy among seven squadroons. Tue number
of men in the service is thirteen thousand
six hundred. Great activity and vigil.
ance have been displayed by all the squad
loons,and their movements have been judi
cioaslyy and 'ffioiently ARA 'ged in such
manner as would best promote American
commerce, and perfect the rights and in
terests of our conntrymen abroad. The
vessels unemployed are undergoing re-
pairs, or are laid up until their services
may be required. Most of the irou-clsc
Aeet is at League Island, in the vicinity o
PhiIadeIphia, place which, until decisiv,
action should betaken by Congress, wa
selected by the Secretary of the Navy a
the most eligible location for that class o
yaccalS II hot itoh hi