The Newberry herald. [volume] (Newberry, S.C.) 1865-1884, 1866-12-12
WEDNESDAY MORNING, DECEMBER 70, 1866.

387, the receipts of the year having
been s89,905,9O5 moro, and the
expenditures 5000, 529, ,255 less than
the estimates. Nothing could
more clearly indicate than these
statements the extent and avai!a-
bility Of the national resources,
and the rapidity and safety with
which, under our form Of govern,
ment, great military and naval
establishments can be disbanded,
and expenses reduced from a war
to peace footing.
During the fiscal year ending
the 30th Of June, 1866, thereceipts
were S559,032,62O, and the expen-
ditures s520,75O,94O, leaving an
available surplus Of S37, ,291, $50.
It is estimated that the receipts
for the fiscal year ending the 3Oth
June, 1867, will be $475, ,06l, 1856,
and that the expenditures will
reach the sum Of S316,429,079,
leaving in the Treasury a surplus
of s158,633,3O9. For the fiscal
year ending June 80, 1868, it is
estimated that the receipts will
amount to s436, 100000, and that
the expenditures will be S350,240,-
641-showing an excess Of $685.
752, ,359 in favor ofthe 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 sufficient to cover all
legitimate charges upon the Trea-
sury, and leave large annual sur
plus 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 popula-
ton and wealth, and yet the debt
be cxtinguished within the next
quarter ola century.
THE ARMY.
The report Of the Secretary of
War furnishes valuable and i'm
portant information in reference
to the operations of his Depart
ment during the past year. Few
volunteers now remain in the
service, and they are being dis
charged as rapidly as they can be
replaced by regular troops. The
army has been promptly paid,
carefully provided with medical
treatment, well sheltered and sub
sisted, and is to be furnished with
breech-loading small arms. The
military strength Of the nation
has been unimpaired by the dis
charge Of volunteers, the DISPOSE
ton of unserviceable or perish
able 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 national
call, large armies can be rapidly
organized, equipped and coneentra-
ted. Fortifcations on the coast
and frontier have received, or are
being prepared for more powerful
armaments lake surveys and har
Dor and river improvements are in
course Of energetic prosecution.
Preparations have been made for
the payment Of the additional
bomties authorized during the
recent session Of Congress, under
such regulations as will protect
the Government from fraud, and
secure to the honorably discharged
soldier the weHearned reward Of
his faithfulness and gallantry.
More than six thousand manned
soldiers have received artificial
limbs or other surgical apparatus,
and forty-one national cemetries,
containing the remains Of 1O4,526
Union soldiers, have already been
established. The total estimate
of military appropriations is S25,-
205, G69.
---~~v--> THE NAVY.