The Fairfield herald. [volume] (Winnsboro, S.C.) 1849-1876, 1866-12-12

one year ago Tho most Sangnlnc could
have anticipated. During the fiscal year
ending the 3Oth June, 1865, the FAST
year Of the war, the public debt Wa IN
creased sol ,9O2,537. and on the 3lst
Of October, 1865, it amounted to s..
TAO, $50. On the 3lst Of October
1866, il had been reduced to $2,25l,.
3l0,00G, the diminution, during period
Of fourteen months, commencing Sep
lcmbcr |, 1865, and ending October 81 :,
1866, having been &20G,379,5G5 In
the last annual report OH the state cflhc
finances, IL Was estimated that during the
1hrcc-qnartcrs OF the fiscal year cn;iing
the 3I;h OF June last. the deb; wonll be
increased &ll2, l9l,947. During that
period, however, it was Icduced Sal.
l96,3S7, the receipts Of tho year having
been SS9, ,oO5 more, and the cNprn-
ditnrcs 5000, 1922 less than the cs'i-
mates. Nothing could more clearly
indicate than these statements the OK.
tent and availability Of the national
resources and the rapidity and safety
with which, under our form of govern
mcn'. great military and naval nslab-
hshments can be disbandcd, and expcc-
ses reduced from war to peace foot.
ing.
During the fiscal year ending the 3Olh
Of June, 1866, the receipts were &55S,.
032, 2,620, and the expenditures $500.
750,9I0, leaving an available surrlus OF
S31,2Sl, ESQ. 1t is estimated That the
receipts Tor the fiscal year ending the
30,h umc, 1867, will be s475, ,OGl,5S6
and that the expenditures will reach the
sum Of $3lG,A2S,o7s, leaving in the
Treasury surplus Of $l5S,63h,3OS.
For the fiscal year ending juno 3O;h,
1868, it is estimated that the rcccinls
will amount tn Sl3G, 900, 900, and that
the expenditures will be Sa5O,24T,64l,
showing all excess Of $S5,752,3 1863 in
favor Of The Government. These csli-
mated receipts may be Diminished by a
reduction Of excise and import duties !;
bit after all necessary reductions shall
have bccn make, the revenue ot the
present and Of following years will
doubtless be sufficient TO cover alileg,ti,
mate charges upon the Treasury. and
leave a large annual surplus To b. ap
pied to The payment Of the pri,;ciDal Of
the debt There seems now. t0gos 10
good reason why taxes may not be re-
duccd rs lhc country advances in popu
lation and wealth, and yet the debt be
cXt!nguished within the next quarter Of
century.
The report Of the Secretary Of War
furnishes valuable and important infor.
nation in reference TO the operations Of
his Department during the pat year.
Few volunteers now remain iii the scr.
vice, and they are being discharged as
rapidly as they can be replaced by rcgu.
lar troops. Tire army has been promptly
paid, carefully provided with medical
treatment, well sheltered and subsisted,
and is to be furnished with brccch load.
ing small arms. The military strength
of the nation has been unimpa,rcd by
the discharge Of volunteers, the disposi.
ton OF unscrviccnLlc or pcrishaLle stores,
acd the cntrcnchmcnt OF expenditure.
Sufficient war material 10 meet any
emergency has been retained, and, from
the disbandcd volunteers standing ready
to respond to the national call, large
armies can be rapidly organized, equip
ped, and concentrated. I'orliIications
on the coast and frontier have received,
or arc being prepared for more powerful
ornaments; lake surveys and harbcl
ma. river improvements are III course Of
prosecution. Preparations have
been made for thc payment Of The add-
tional bounties authorized during the
recent session Of Congress. under such
regulations as will protect the Govern
ment from fraud and se@mrc to the
honorably discharged soldier the well.
earned reward OF lis E,ithfu!ncss and
gallantry. More than six thousand
soldiers have received artificial
limbs and other surgical apparatus; and
forty one national cenetrics, containing
the remains Of l04,526 Union soldiers,
have already been Established. The
total estimate Of military appropriations
is S25,2O5, ,G69.
1t is stated in the report OF she
Secretary Of the Navy that iho naval
forcc at tins time consists Of two lnu.
drcd and scven'y.cight vesscls, armed
with two thousand three hundred and
iiity.oic gnhs. OF these, one hund.c
and fifteen vessels, carrying one thor,.
and twenty nine guns, arc in commission
distributed chiefly Mmongssevcn squad.
rons. The plumber Of men in tho service
Is thirteen thousand six hundred. Great
activity and vigilance have brcn dis
played by all tie squadrons, and their
have been julicion+ly> aud
efficiently arranged in such manner as
would best promote American commerce
and protect The rights aid interests Of
our conntrymcn abroad. The vessels
unemployed are undergoing repairs, or
arc lalI up until lheir.srrviccs may bc
required. Most Of the ircn.clal is al
laagnc Island, in the vicinity Of Phih
delphia, a place which, until dccclslvc
action should be taken by Congress,
was selected by the Secretary OF the
Navy as the most eligible location for
that class of vessels. II is important that
a suitable public station should bc provi.
6p1. fpr l,n IRON ,,l,.J Q.nt It, =, ;,uo,,I