Alexandria gazette. [volume] (Alexandria, D.C.) 1834-1974, 1866-08-25

TIE NATIONAL FINANCES. Secretary Nc
Culloch, being on a visit to New England, was
invited to dine with the solid men of Boston.
he letter failed to reach him till after his
eturn to Washington but on the 18th instant,
,e responded, showing why he could not ac-
copt, and speaking Of the national finances as
:HolloHs
"ialthough it was hoped that ere this the
currency Of the country would have been
brought nearer to the specie standard, | am
cure The people have cause for copgratulation
tlGt our finances are in SO healthy condition
S ,hey are.
Since March, 1865, the war has been
brought to successful conclusion; immense
>.mies have been disbauded every soldier has
)ecn paid before being mustered out OF the ser
rice; all maturing obligations Of the Govern
ment have been satisfactorily provided for,
less than it was estimated it would be at the
o:asent time, and the reduction Of it has avera-
GeQ, iGor the last year, more than $lQ000,000
)eE month. no other nation ever rolled up
;: DEBT so rapidly none certainly ever commenced
ne reduction of its debt SO soon after its=crea-
:ion. IF our currency is depreciated we have
80 .;.l escaped the financial troubles that usual
= occur among nations at the close Of eX
oenlive wars, and which there was reason to
appiehend would happen to us at the termina-
:ion Of the great war in which we have been
engaged If the business Of the country is
conducted upon changing and uncertain basis,
i mas been subject to 70 severe reVulsions. If
ouT taXes are heavy, our resources are almost
unlimited, while the disposition Of the people
C bear cheerfully their burdens is a surprise
even to those who have the greatest confidence
q the honor and good faith ola free people
n my opinion, the people of the United States
&c 70 make republicanism illustrious among
he nations by establishing the fact that the
zecurities of Republican Government are the
safest Of all securities, and that the people who
.mD0sc taxes upon themselves are the most
Jealous of their national credit
y do not, however, disguise the fact that
3=eat financial difficulties are still to be over
come that our present prosperity is rather
Hoparent than real, that we are measuring
'Glues by false standard, that we are, in fact,
exposed to all the dangers which attend an
Inflated and irredeemabe currency, which di,
.ninishes labor-the true source of national
,realth-and stimulates speculation and extrav-
a!gance which lead invariably to thrittlesSneSs
nd decentralization. Before the country be-
;cneS again really prosperous, the specie stan
::t2G must be restored, prlccs reduced, industry
stimulated, the products OF the countryincreased,
Re balance OF trade between the United States
:na o5her nations cease to be against us--all
ne great interests of the country cared for and
protected by wise and impartial legislation,
;:i3 all sections of the country be brought again
nc harmonious and practical relation with the
General Government. That the country will
2a @gain thus really prosperous is as certain as
su9;ning in the future. That it should be $50 at
Il early day, and that too without financial
.i3;;3, It is only necessary that there should be
?.opel legislation by Congress, economy in the
ou0lic expenditures, and fidelity on the part Of
.?C3e gyho are intrusted with the management
y. tie public revenue
- 1enain, very truly, your obedient servant,
UUGu MCCULLOCH.