Dallas herald. [volume] (Dallas, Tex.) 1849-1873, 1866-01-06

llluhtfNlon, 40 hcNIct bl llla nu-
pcriority springs not merely from
the ihct that in a republic tho ma.
tional obligations are distributed
more widely through countless num-
berS in all classes Of society II has
It's root in the character Of our
laws Here all men contribute to
the public welfare, and bear their
fair share Of the public burdens,
Dmigg the war, under the inn
pulses Of patriotism, the men of the
great body Of the people, without
regard TO their own comparative
want Of wealth, thronged to our
armies and filled our fleets Of war,
and held themselves ready TO oilcr
their lives for the public good,
Now, in their turn, tho property
and income OF the country should
bear their Just proportion Of the
burden of taxation, while, in our
impost system, through means Of
which increased vitality is incidcn.
tally impaired 10 all the industrial
interests of the nation, tho duties
should be 30 adjusted rs TO fall most
heavily on articles Of luxury, lcaY-
ing the necossaries Of life as free
from taxation as the absolute wants
Of the Government, economically
administered, will justify. No IA
vorcd class should demand freedom
from assessment, and the taxes
should be so distributed rs not to
fall unduly on the poor, but rather
on the accumulated wealth Of tho
country. We should look at the ma
tional debt just AS it is--not as a
national blessing, but as Il heavy
burden on the industry of the coun-
try, to be discharged without I'M
necessary delay.
1t is estimated by the Secretary
of the Treasury that the eXpendi-
lures for the fiscal year ending the
3Gth June, 1866, will exceed the re.
ccipts S112,194,94 1t is crafty
ing, however, to state that it is also
estimated that the revenue for the
year ending the 30th Of June, 1867,
will exceed the expenditures in the
sum of $111,68 1913. This amount,
or so much as may be deemed suf-
ficient for the purpose, may be APP
piled to the reduction of the public
debt, which, on the 3lst day Of De-
tober, 1865, was s2,740,854,750.
Every reduction will diminish the
total amount Of interest to be paid,
and so enlarge the means of still
further reductions, until the whole
shall be liquidated; and this, as
will be seen from estimates Of the
Secretary of the Treasury, may be
accomplished by annual payments
ov6n within a period not exceeding
thirty years. | have faith that we
shall do all this within q reasonable
time; that, as We have amazed the
world by the suppression of civil
war which was thought to be be.
yond the control of any Govern
ment, so we shall equally show the
superiority Of our institutions by
the prompt and faithful discharge
of our national obligations.
The Department of Agriculture,
under its present direction, is ac-
complishing much in developing
and utilizing the vast agricultural
capabilities of the country, and for
information respecting the details
Of it's management, reference is
made to the annual report Of tho
Commissioner.
/ have dwelt thus fully on our
domestic affairs because Of their
transcendent importance. Under
any circumstances, our great ex-
tent Of territory and variety of eli
mate, producing almost every thing
that is necessary for the wants, and
even the comforts of man, make us
singularly Independent of the vary
ing policy Of foreign powers, and
protect us against every temptation
to "entangling alliances" while at
the present moment the re-estab-
lishment Of harmony, and the
strength that comes from harmony,
will be our best security against
"nations who feel power and forget
right" For myself it has been and
it will be my constant aim to pro
mote peace and amity with all for
eign nations and powers; and I
have every reason to believe that
they all, without exception, are an
mated by the same disposition.
Our relations with the Emperor of
China, so recent in their origin, are
most friendly. Our commerce with
his dominions is receiving new de-
velopments; and it is very pleasing
to find that the Government of that
great Empire manifests satisfaction
with our policy, and reposes just
confidence in the fairness which
marks our intercourse. The unbro-
ken harmony between the United
States and the Emperor of Russia
is receiving new support from an
enterprise designed to carry tele-
graphic lines across the continent
Of Asia, through his dominions, and
so to connect us with all Europe by