The Camden journal. [volume] (Camden, S.C.) 1866-1891, 1866-11-07

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Of safety" we're prescribed by Jefferson
as rules Of action to endear to his
countrynen the true principles Of
their Constitution, and promote union
of sentiment and action equally auspi-
cious to their happiness and Safety
Jackson held that the action OF the Cen
eral Government should always be
strictly confined to the sphere OF its ap-
propriate duties, and justly and forcibly
urged that our Government is not to be
maintained nor our Union preserved
"by invasions of RIGHTS and powers
of the several States. In thus attempt
ing to make our Genera! Government
strong, we make it weak. It's true
strength consists in leaving individuals
and States as much as possible to them
selves; in making itself felt, not in it's
power, but in its beniGccnce; not in its
contrl, but in its protection; not in
binding the States more closely to the
centre, but leaving each to move unob-
structed in its proper constitutional or
bit" These arc the teachings Of men
whose deeds and services lave made
them illustrious, and who. long since
wit drawn from the scenes of life, have
; left to their country the rich legacy Of
their example, their wisdom, and their
patriotism. Drawing fresh inspiration
from their lessons, let lis emulate them
in love Of country and respect for the
Constitution and laws.
The report Of the Secretary of the
Treasury affords much information re-
specting tho revenue and commerce OF
1 the country. His views upon the cur
rency, and with reference t. a proper
: adjustment of our revenue system, in
tclnal as well as inlpost, are commend
cd to the calefu. consideration Of Con-
grcss. In my last annual message l
I expressed my general viewsupon these
subjects. I need now only call attention
to the necessity of carrying into every
department of the Government Il system
ofrigid accountability, throushretrcnch-
ment, aid wise economy. With no en-
ceptional 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 climate and ne
cessary wants o. the Government.
The report presents a much more
satisfactory condition Of our finances
than one year ago the most sanglline
could have anticipated. During the
fiscal year ending the 3nth June, 1850,
the last year Of the war, the public debt
was increased S04l, ,902,537 and on
.hc 31st Of October, 1865, it amounted
to s., 74O,&j4,750. On the 3lst day Of
October, 1865, it had been reduced to
81, 551,310, ,O06, the dimiuution during
J. a period Of fourteen months, commenc-
ing September !, 1868, and ending
October 81, 1866, having been S2OG,,
0,5G5. lii the last annual report OIL
tho state of the finances, it was estima.
ted that dur ng the three quarters o:
tho fiscal year ending the Both OF June
{ last, tho debt would b. increased sll3,'
194,947.
f During that period, however, it wa:
: reduced 81, 1876, ,3s6, dollars, the receipts
of the year having been S0,9O5, 500
dollars, more, and the expenditure
200, ,529, 1875 dollars, less, than the esti
, mates. Nothing could moro clearly
, indicate than these statements the OK,
tent and availability oftne national re
sources, and the rapidity and safety
with which, unle- our form of govern
nlent, grcat military and naval estab
lishments can be disbanded, and expen
scs reduced from a war to peac
{ footing.
, During the fiscal year ending til
: 3Oth of Juno, 1866, the receipts were
$55S, CO, $40, and the expenditure
$500, 750,04O, leaving an available sur
plus of S337 221 $50. It is estimate
chat the receipts for the fiscal year end
: ing the Both June 1867, will be $lIo,
, 0G1 $50, and that the expenditures vii
t reach tho sum OF S3lG, ,43S, ,07G, lcarin!
in the Treasury a surplus Of sl5S, ,G:j3,
30S. For tie fiscal year ending Jun
| 30, 1868, it IS estimated that the re
ccipts will amount to sl3G, 0:OO3, AIT
f that the expenditures will be $3JO;347
} 641-showing an exc IS Of $50, 753,35s
in favor of the Government. These es
f t;mated receipts may De din,ininshee
by reduction of excise aud import du
lies; but afer all necessary reductions
shall have been made, the revenue o
the present and Of following years vii
doubtless be suficieet to cover all le
: gitinate charges upon the Treasury
!, aud le"ve large annual surplus to bt
applied to the payment ofthe principa
, debt. There seems now to be no goot
reason why taxes may not be reduced
, as the country advances in population
and wealth, and yet the debt be extin,
guishcd within the next quarter Of 6
century.