Bradford reporter. [volume] (Towanda, Pa.) 1844-1884, 1866-12-06

wealth. Ol lilt udItDH anu CN'iiiiIltlSr Va tie
world New fields of enterprise would be
opened to our progressive people, and soon
the deyaStations Of war woali be repaired,
and all traces of our domestic differences
e1faced from the minds OF our countrymen
In our efforts to preserve the unity OF
Government which constitutes US one peo-
ple," by restoring the States To the condi
ton which they held prior 10 the rebellion,
we should be cautious, lest, having rescu-
ed our nation from perilS ni threatened dis
integratiOn, we resort IT, Consolidation, aud
in the end absolute despot,su, as a remedy
for the recurrence of similar troubles. The
war having terminated, and with II all &c
Casion for the exercise of pUw-rs uf doubt
fut COnstitutOnality, we should hasten u
bring legislation within the boundaries pre-
sCrbed by the Constitution, aud to return
to the ancient landmarks established by
our fathers for the guidance of succeeding
generations "The Constitution which at
any time exists, until changed by an ex-
plicit and authentic act of the whole peo-
pie, is sacredly obligatory upon ALL "If,
in the opinion of the people, the distribu-
tion or modification Of the constitutional
powers, be, in any particular wrong, let it
be corrected by an amendment in the way
in which the Constitution d,aignates. But
let there be no change by usurpation )" for
it is the customary weapon by which free
Governments are destroyed" Washington
spoke these words to his couutrymen, when,
followed by their love an! gratitude, he
voluntarily retired from the cares of public
life To keep in all things within the pale
Of our constitutional powers, and cherish
the Federal Union as the only rock of safe
ty," were prescribed by Jefferson as rules
of action to endear to his conutrymen the
trne principles of their Constitution, and
promote union of sentiment and action
equally auspicious to their happiness and
safety" Jackson held that the action of
the General Government should always be
strictly confined to the sphere of its appro-
pirate duties and justly and iorcibly urged
that our Government is not to be maintain
ed nor our Union preserved "by invasions
of the rights and powers of the several
States. In thus attempting to make our
General Government strong, we make it
weak Its true strength consists in leaving
individuals and States as much as possible
to themselves in making itself felt, not in
its power, but in its benefcence not in
Us tDhtlUl, buI ITO piOGCOIlOi llOb III
binding the States more closely to the cen
ire, but leaving each to move unobstructed
in it's proper constitutional orbit" These
are the teachings of men whose deeds and
srevices have made them illustrions, and
who, long since withdrawn from the scenes
Of life, have left to their country the rich
legacy of their example, their wisdom and
their patriotism Drawing fresh inspiration
from their lessons, let US emulate them III
love of country and respect for the Consti-
tuition and the laws.
The Report of the Secretary of the Treas
ury affords much information respecting
the revenue and commerce OF the country.
His views upOr the currency, and with ret
erence to q proper adjustment Of our reve-
nue. system, internal as we'll as impost, are
commended to the careful consideration Of
Congress. In my last Annual Message |
expressed my general views upon these
subjects | need now only call attention
to the necessity Of carrying into every De
partment Of the Government a system of
rigid accountability, thorough retrenchment,
and wise economy. With no exceptional
nor unusual expenditures. the oppressive
burdens Of taxation can be lessened by
such modification Of our revenue laws as
will be consistent with the public faith, and
the legitimate and necessary wants of the
Government.
The report presents a much more satisfac-
tory condition of our finances than one year
ago the most sanguine could have antici-
pated During the fiscal year ending the
Both June, 1865, tn last year of the war,
the public debt was increased S94l ,902,-
ii, Let ,P
amounted to S2,740 S54, $50 On the 3lst
| day of October, 1866, it had been reduced
to 50, ,55l, ,310,008, the diminution, during a
period Of II months, commencing Septem-
| Der l, 1865, and ending October 81, 1866,
| having been S206, ,379 ,565 In the last au-
nuaI report OF the state Of the finances, it
was estimated that during the three quar-
ters of the fiscal year ending the 30th Of
! June last, the debt would be increased
SIP 1914, 3S7. During that period, howev-
! er, it was reduced S3l 1876, ,3S7, the receipts
OF the year having been ,$S9, 905, 500 more,
and the expenditures 5000, ,235 less
| than the estimates. Nothing could more
! clearly indicate than these statements the
extent and availability of the national re-
sources and the rapidity and safety with
which under our form Of government, great
military and naval establishments can be
dsbanded, and expenses reduced from u
war to peace footing.
During the fiscal year ending the 30th of
June, 1866, the receipts were $558, ,O32 $50,
ard the expenditures $500, 80, ,948, leaving
an available surplus of $37, 7,28l $50 1t is
estimated that the receipts for the fiscal
year ending the Both June, 1867, will be
$475 5,06l, ,3S6, and that the expenditures will
reach the snm Of $3lG, ,428, ,078, leaving in
the Treasury a surplus of $l58 ,633, 3OS-
For the fiscal year ending June 80, 1868 it
is estimated that the receipts will amount
to 1896, 600, 00O and that the expenditures
will be $3.50, 247 ,64l-showing an excess of
$50, 1852, ,359 in favor of the Government
These estimated receipts may be diminish
ed by a reduction of excise and import du-
ties; but after all necessary reductions
shall have been made, the revenue Of the
present and Of following years will doubt
less be sufficient to cover all legitimate char
ges upon the Treasury, and leave a large
annual surplus to be applied to The pay
ment of the principal of the debt There
seems now to be no good reason why taxes