The Jackson standard. [volume] (Jackson C.H., Ohio) 1847-1888, 1866-12-13

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fresh inspiration from their lessons, lei
US emulate them in love Of country and
respect for the Constitution and the
laws ,5'"'..i.' ~ .''
ENCOURAGING CONDITION OF THE FINANCE
The report bof the Secretary of the
Treasury affords much information re.
specting the revenue and commerce Of
the country, His views upon the cur.
rency, and with reference to proper
adjustment Of our revenue system, In
ternal as well as impost, are commended
to the careful consideration OF Congress.
In my last annual message l expressed
my general views upon these subjects.
| need now only call attention to the
necessity of carrying into every depart
ment OF the, Government a system OF
rigid accountability; thorough retrench-
ment and wise economy With no
exceptional nor unusual expenditures,
the oppressive burdens OF taxation can
be lessened by such a 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
satisfactory condition of our finances
than one year ago the most sanguine
could have anticipated. During the
fiscal year ending the 3Oth June, 1865,
the last year Of the war, the public debt
was increased $94l, ,902, 2,537, and on the
3lst of October, 1865, it amounted to
S2,740,854,75o. On the 3lst day Of
October, 1866, it had been reduced to
1851 $4,000, the diminution, during
period of fourteen months, commence
ing Sept. l, 1865, and ending October
81, 1866, having been S206 ,379, ,565.
In the last annual report on the state OF
the finances, it was estimated that dur
ing the three quarters of the fiscal year
ending the 30th Of June last, the debt
would be increased Sl12,l94,94G.
During that period, however, it was
reduced $3l, 1856, 287, the receipts of the
year having been S89, ,9O5, ,905 more,
and the expenditures 5000, 529 1886 less
than the estimates. Nothing could
more clearly y indicate than these state
ments 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 a war to a peace
footing ...
During the fiscal year ending the 30th
of June, 1866, the receipts were $685.
032, 1920, and theexpenditures $500, 75O,-
$40, leaving an available surplus of
$37 1881, $50. 1t is estimated that the
receipts for the fiscal year ending the
3Oth of June, 1867, will be $475, ,06l,-
1856, and that the expenditures will
reach the sum of 1915 ,428, ,O78, leaving
in the Treasury surplus Of 1853, 633,-
30S. For the fiscal year ending June
30, 1868, it is estimated that the receipts
will amount to $435, 900, 900, and that
the expenditures will be $3.50, PAT OIL
showing an excess of S85, 752,359 in
favor of the Government. These esti-
mates may be diminished by a reduc-
tion of excise and import duties; but
after all necessary deductions shall have
been made, the revenue of the present
and of following years will doubtless
be sufficient to cover all legitimate
charges upon the Treasury, and leave a
great 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 the debt be extinguish-
ed within the next quarter of a century.
MILITARY CONDITION.
The report of the Secretary of War
furnishes valuable and important in
formation 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 as
rapidly as they can be replaced by reg
ular troops. The army has been prompt
ly paid, carefully provided with medi-
cal treatment, we'll 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 unserviceabIe or per-
ishable stores, and the retrenchment of
expenditure. Sufficient war material to
meet any emergency has been retained,
and, from the diSbanded volunteers
standing ready to respond to the nation
al call, large armies can be rapidly or
ganized, equipped and concentrated.
Fortifcations on the coast and frontier
have received, or are being prepared |
tor more powerful ornaments; lake sur
veys and harbor and river improvements
are in course of energetic prosecution.
Preparations have been made for the
payment of the additional bounties au-
thorized during the recent session of
Congress, under such regulations as
will protect the Government from fraud,
and secure to the honorably discharged |
soldier the we'll earned reward of his
and gallantry. More than
six thousand manned soldiers have re-
ceived artificial limbs or other surgical
and forty-one national GEM
etries, containing the remains of l04,-
526 Union soldiers, have already been