Yorkville enquirer. [volume] (Yorkville, S.C.) 1855-2006, 1866-12-13

factory condition Of our finances than on,
year ago the most sauguine could have an
ticipated During the fiscal year endiue
the Both of June, 1866, the last year of tn,
war, the public debt was increased S941,
9O2, ,537, and on the thirty. first of October
1865, it amounted to S2,740,S54,750. Or
the 3lst day of October, 1866, it had beer
reduced to 81, ,551, 3lO,0O6, the elimination
during period Of fourteen months, com
mencing September l, 1865, and ending
October 81, 1866, having been S206,379,
$685. 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 30th of Jaaa- last, the debt would be in
creased SIP, ,l94,947. During that period
however, it was reduced S3l, 1856, 1897, ths
receipts of the year having been SS9,905,
905 more, and the expenditures $500, ,529,
235 less than the estimates Nothing oouc
more clearly indicate than these statements
the extent and availability of the nationa
resources, and the rapidity and safety with
which, under our form of government, great
military and naval establishments eau be
disbanded, and expenses reduced from 9
war to peace footing ..
During the fiscal year ending the Both Of
June, 1866, the receipts were s55S, S,032,
$40, and the expenditures 520,750, ,940
leaving au available surplus of S37, ,2Sl ,680
1t is estimated that the receipts for the fis
cal year ending the Both June, 1867, will
be s575, 5,O6l, 1886, and that the expenditures
will reach the sum of 1916, 6,42S, ,07S,, leav
ing in the Treasury surplus Of sl5S, ,633,
S08 For the fiscal year ending June 30
1868, it is estimated that the receipts will
amount to s436, 100000 and that the ex-
penditures will be $3.50, ,247, GIL showing
an excess of sS5,752,359, in favor of the
Government. These estimated receipts may
be diminished by a reduction of exercise
and import duties; but after all necessary
reductions shall have been made, the reve-
nue. of the present and of following years
will doubtless be sufficient to cover all legi
innate charges upon the Treasury, and leave
an 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
extiuguished within the next quarter Of a
century.
THE ARMY.
The report of the Secretary of War fur,
nishes valuable and importan. information
in reference to the operations of his Depart,
ment during the past year. Few volunteers
now remain in the service, and they are be
ing discharged as rapidly as they can be re-
placed by regular troops. The army has
been promptly paid, carefully provided with
medical 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 unimpaired by the
discharge of volunteers, the disposition Of
unserviceable or perishable stores, and the
retrenchment of expenditures Sufficient
war material to meet any emergency has
been retained, and from the disbanded VOL
uuteers standing ready to respond to the
national call, large armies can be rapidly
organized, equipped and concentrated. For
tifcations on the coast aud frontier have
received, or are being prepared for more
powerful ornaments lake surveys and bar
Dor and river improvements are in course Of
energetic prosecution. Preparations have
been made for the payment Of the additional
bounties authorised during -the-r -reoent-ses
sion of Congress, under such regulations as
will protect the Government from fraud,
and secure to the honorably discharged sol
dier the we'll earned reward of his faithful
ness and gallantry. More than six thous
and manned soldiers have received artificial
imbs or other surgical apparatus, and for
ty. one national cemeteries, containing the
remains of 104,586 Union soldiers, have
already been established The total esti
mate of military appropriations is S25, ,2O5,-
669.
THE NAVY.
1t is stated in the report of the Secretary
of the Navy, that the naval force at this
time consists of two hundred and seventy.
eight vessels, armed with two thousand
three hundred aud fifty one guns. Of these,
one hundred and fifteen vessels, carrying
one thousand and twenty, nine guns, are in
commission, distributed chiefly among sew
en- squadrons. The number of men in the
service is thirteen thousand six hundred
Great activity and vigilance have been dis
played by all the squadrons, and their
movements have been judiciously and efi-
cienty arranged in such manner as would
best promote American commerce, and pro-
teot the rights and interests of our country
men abroad. The vessels unemployed are
undergoing repairs, or are laid up until
their services may be required. Most Of
the iron clad fleet is at League Island, in
the vicinity of Philadelphia, place which,
until decisive action should be taken by
Congress, was selected by the Secretary Of
the Navy as the most eligible location fol
that class of vessels 1t is important that
suitable public station should be provided
for the iron clad feet 1t is intended that
these vessels shall be in proper condition fol
any emergency, and it is desirable that the
Bill aeeeniing League Island for naval pur