The weekly North-Carolina standard. [volume] (Raleigh, N.C.) 186?-1869, 1866-12-05


our progressive people, and soon the devas-
lotions Of war would be repaired, and all
traces of our domestic differences effaced
from the minds of our countrymen.
{ In our efforts to preserve "the unity of
Government which constitutes us one peo-
ple,n by restoring the States to the condition
which they held prior to the rebellion, we
should be cautious, lest, having rescued our
nation from perils of threatened disintegra-
ton, we resort to consolidation, and in the
end absolute despotis,n, as remedy for the
recurrence of similar troubles. The war hav-
ing terminated, and with it all occasion for
the exercise of powers OF doubtful constitu
tionality, We should hasten to bring legisla-
ton within the boundaries prescribed by the
Constitution, and to return to the ancient
landmarks established by our fathers for the
guidance of succeeding generations. "The
Constitution which at any time exists, until
changed by an explicit and authentic act of
the whole people, is sacredly obligatory upon
/ ALL" F" If, in the opinion of the people, tile
distribution or modification Of the constitu-
tional powers be, in any particular, wrong,
let it be corrected by an amendment in the
way in which the Constitution designates.
But let there be no change by usurpation;
for it is the customary weapon by which
free Governments are destroyed" Washing
ton spoke these words to his countrymen,
when, followed by their love and gratitude,
he voluntarily retired from the cares of pub
lie life To keep in all things within the
| pale of our constitutional powers and cher
| ish the Federal Union as the only rock of
safety" were prescribed by Jefferson as rules
of action to endear to his "countrymen the
| true principles of their Constitution, and
promote union of sentiment and action
| equally suspicious to their happiness and
| safety" jackson held that the action of the
| General Government should always be strict
| ly confined to the sphere of its appropriate
duties, and justly and forcibly urged that
our Government is not to be maintained nor
our Union preserved "by invasions of the
rights and powers of the several States. In
thus attempting to make our General Gov
erament strong, we make it weak. Its true
strength consists in leaving individuals and
States as much as possible to themselves; in
making itself felt, not in its power, Tut in
| its benefcence; not in its control, but in its
| protection; not in binding the States more
closely to the centre, but leaving each to
move unrestricted in its proper constitu-
tional orbit" These are the teachings of
men whose deeds and services have made
them illustrious, and who, long since with
drawn from the scenes of life, have left to
their country the rich legacy of their EXAM
pie, their wisdom, and their patriotism.
Drawing fresh inspiration from their lessons,
let us emulate them in love of country and
respect for the Constitution and the laws.
The report of the Secretary of the Treasury
affords much information respecting the rev.
enue and commerce of the country. His
views upon the currency, and with reference
to proper adjustment of our revenue sys-
TEN. internal as well as impost, are common
ded to the careful consideration of Congress.
In my last annual message expressed my
general views upon these subjects. l need
now only call attention to the necessity of
carrying into every department of the Gov
eminent a system of,rigid accountability,
thorough retrenchment and wise economy.
With no exceptional nor unusual expendi-
lures, the oppressive burdens of taxation can
be lessened by such modification of our rev.
enue laws as will be consistent with the pub
lie faith, and the legitimate and necessary
wants of the Government.
The report presents much more satisfac-
tory condition of our finances than one year
ago the most sanguine could have anticipa-
ted. During the fiscal year ending the Both
June, 1865, the last year of the war, the pub
lie debt was increased $941, 902, 537, and on
the 31st of October, 1865, it amounted to
S., TAO, 854, $50. On the 21st of October, 1866,
it had been reduced to $2,551 $40 ,006, the
diminution. during a period of fourteen
months, commencing September l, 1865, and
ending October 81. 1866, having been $780,
379565 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 Both of June last, the debt would
be increased $112, 4947 During that pc
rod, however, it was reduced $31, 196.3S7,
the receipts of the year having been $780,
9O5, 9O5 more, and the expenditures $780,
529,235 less than the estimates. Nothing
could more clearly indicate than these state
ments the extent and availability of the ma
tional 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 q
war to peace footing.
During the fiscal year ending the 30th of
June, 1866, the receipts were 1858, 032, $40,
and the expenditures $500, 750, $40, leaving
an available surplus of $37 ,2S1 $50. 1t is
estimated that the receipts for the fiscal year
ending the 30th June. 1867, will be $475,-
O61 1886, and that the expenditures will reach
the sum of 1915 $685. 7S, leaving in the Treas
ury a surplus of $15S, 633, 1903. For the ifs
cal year ending June 80, 1868, it is estima-
ted that the receipts will amount to $780,
100000, and that the expenditures will be
$3.50, PAT, 641-showing an excess of $685.
752, $50 in favor of the Government. These
estimated receipts may be diminished by a
reduction of excise and import duties but
after all necessary reductions shall have been
made the revenue of the present and OF fol-
= lowing years will doubtless be sufficient to
cover all legitimate charges upon the Treas
ury, and leave 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 the debt be extinguished within the
next quarter of century.
The report of the Secretary of War furn-
ishes valuable and important informa-
ton in reference to the operations of his
Department during the past Year. Few
volunteers now remain in the service,
and they are being discharged as rapidly as
they can be replaced by regular troops. The
army has been promptly paid, carefully pro-
vided with medical treatment, we'll sheltered
and subsisted, and is to be furnished with
bfeech-loading small arms. The military
strength of the nation has been unimpaired
by the discharge of volunteers, the DISPOSE
ton of unseryiceable or perishable stores, and
the retrenchment ofexpenditure Sufficient
war material to meet any emergency has