The Columbian. [volume] (Bloomsburg, Pa.) 1866-1910, 1866-12-08
BLOOMSBURG SATURDAY, DECEMBER s. 1866

The report of the Secretary of The
Treasury affords much information re-
specting the reverue and commerce of
the cotintry. His views upon the cur
rency, and with reference to proper
adjustment of our revenue system,
internal as well as impost, are COM
mendcd to the careful consideration
of Congress. In my last Annual Mes
sage | expressed my general views upon
these subjects. / need now only call Mt
tention to the necessity of carrying into
every Department of the Government a
system of rigid accountability, thorough
retrenchment, and wise economy. With
noexceptional nor unusual expenditures,
the oppressive burdens of taxation can
be lessened by sucl u modification of
our revenue laws as will be consistent
with the public faith, and the legitimate
and necessary wants of the Government.
The report presents much more sat
isfactory condition of our finances than
one year ago the most sanguine could
have anticipated. During the fiscal
year ending the thirtieth of June, 1865,
the last year of the war, the public debt
was increased SOIL, ,9O2, ,537, and on the
thirty-tirst of October, 1865, it amounted
to S2,7i0,S51,7j On the thirty first
day of October, 1866, it had been re-
duced to $2,5jl ,3lO, COG, the dininution
during period of fourteen months,
commencing September first, 1865, and
ending October thirty.first, 1866, having
been S206, ,379,5G5. In the last annual
report on the state of the finances, it
was estimated that during the three
quarters Of the fiscal year ending the
thirtieth of June last, the debt would
we increased $112, 1917. During that
period, however, it was reduced $3l 1885,
3S7, tie receipts of the year having been
SS9, ,905,9 ,905 more, and the expenditures
5000, ,235 less than the estimates.
Nothing could more clearly indicate
than these statements the extent and
availability of the national resources,
and the rapidity and safety with which,
under our form of government, great
military and naval establishments can
be disbanded, and expenses reduced
from war to peace footing.
During the fiscal year ending the thir-
tieth of June, 1866, the receipts were
$55S, ,032, 500, and the expenditures $780,
75O,9 $40, leaving an available surplus of
$37, ,2sl $50. 1t is estimated that the re-
ceipts for the fiscal year ending the thir-
tieth June, 1867, will be Si75, ,061 1856, and
that the expenditures will reach the
sum of $3lG, ,42S, ,07S, leaving in the Treas
ury surplus of Sl5S, $685. ,30S. For the
fiscal year ending June thirtieth 1868,
it is estimated that the receipts will
amount to Si3G,000 600, and that the eX-
penditures will be $3.50, 247 ,641-showing
an excess of $50, 722, ,359 in favor of the
Government. These estimated receipts
may be diminished by reduction 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 be suf-
ficient to cover all legitimate charges
upon the Treasury, and leave a large
annual surplus to be applied to the pay
ment of the principal of the debt
There seems now to be no good reason
why taxes may not be reduced rs the
country advances in population and
wealth, and yet the debt be extinguishcd
within the next quarter of century.
OUR ARMY.
The report of the Secretary of Wal
furnishes valuable and important infUr
nation in reference to the operations of
his Department during the past year
Few volunteers now remain in the ser.
vice, and they are being discharged rs
rapidly Us they can be replaced by rcgu'
lar troops. The army has been prompt
ly paid, carefully provided with medi'
cal treatment, well sheltered and sub
sisted, and is to be furnished with breech'
loading small arms! The military
strength of the nation has been unim.
paired by the discharge of volunteers
the disposition of unserviceable or per-
expenditure. Sufficient war material
10 meet any emergency has been re-
tained, and, from the disbanded Yolun-
teers standing ready to respond to the
national call large armies can be rapidly
organized, equipped, and concentrated.
Fortitications on the coast and frontier
have received, or are being prepared foI
more powerful armaments; lake sur
Veys and harbor and river improve
ments are in course Of energetic prose
cutiOn. Preparations have been made
for the payment of the additional boun.
ties authorized during the recent sos'
sion of Congress, under such regulation:
as will protect the Government from
fraud, and secure to the hOnOrably-dis
charged soldier the well-earned reward
of his faithfulncss and gallantry. More
than six thousand manned soldiers have
received artificial limbs or other surgi
cal apparatus; and forty-one nationa
cemeteries. containing the remains OF
one hundred and four thousand five
hundred and twenty-six Union soldiers
have already been established. Tn,
total estimate of military appropriation
is $25, ,2O5, 600.
OUR NAVY.
, 1t is stated in the report Of the Secre
tary of the Navy that the naval fore
at this time consists Of 27S vessels, armc,
1 with 1851 guns or these ll5 vessels