Staunton vindicator. [volume] (Staunton, Va.) 1860-1896, 1866-12-07

marks established by our fathers for the gul-
dance of succeeding generations. 1.-The Con-
stitution which at any time exists, until
changed by an explicit and authentic act Of
4 the whole people, is sacredly obligatory up
on ALL IF, in the opinion Of the people,
the distribution or modification Of the consti-
tutional powers be, in any particular, wrong,
let it be corrected by an amendment in the
way in which the Constitution designates--
But let there be no change by usurpation
for +" it is the customary weapon by which
free Governments are destroyed" Wash
ington spoke these words to his countrymen,
when, followed by their love and gratitude,
he voluntarily retired from the cares of pub
lie life. ITO keep in all things within the
pale Of our constitutional powers, and cher
ish the Federal Union as the only rock Of
safety" were prescribed by Jefferson as rules
of action to endear tohis 'countrymcn the true
principles of their Constitution, and promote
a union Of sentiment and action equally aus
picious to their happiness and safety" Jack
son held that the action of the General Gov
eminent should always be strictly confined to
the sphere of it's appropriate duties, and just
ly and forcibly urged that our Government
is not to be maintained nor our Union pre-
served by invasions of the rights and pow
ers Of the several States In thus attempt
ing 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 it's benehcence notin
its control. but in its protection not in bind
ing the States more closely to the centre. but
leaving each to move unobstructed in it's
proper constitutional orbit" These are the
teachings of men whose deeds and services
have made them illustrious, 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since withdrawn from the scenes of life, have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 in love Of country and
respect for the Constitution and the laws.
The report of the Secretary Of the Treasu-
ry affords much information respecting the
revenue and commerce of the country His
views upon the currency, and with reference
to proper adjustment of our revenue sys-
tenn, internal as we'll as impost, are COM
mended to the careful consideration of Con-
gress. In my last annual message express
&c my general views upon these subjects. I
need now only call attention to the necessity
of carrying into every department of the Gov
eminent 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 reve-
nue. laws as will be consistent with the pub
lie faith, and the legitimate and necessary
wants of the Government.
The report presents much more satisfac-
tory condition Of our finances than one year
ago the most sanguine could have anticipated.
During the fiscal year ending the 30th June,
1865, the last year of the war, the public
debt was increased $94l 1902, 537, and on
the 31st of October, 1865, it amounted to
$2,740, 854,750, On the 31st day Of Octo-
per, 1866, it had been reduced to $255l,-
1000, the diminutlon, during period Of
fourteen months, commencing September l,
1865, and ending October 81, 1866, having
been 1906, 379, 565. In the last annual re-
port on the state of the finances, it was esti-
mated that during the three quarters Of the
fiscal year ending the 30th of June last, the
debt would be increased SIP, 1914, 947 Du-
ring that period, however, it was reduced
S31, 1876, 387, the receipts of the year hav-
ing been $50, 905 905 more and the expen-
ditures $500, 529, 235 less than the estimates
Nothing could more clearly Indicate than these
statements the extent and availability of the
national resources, and the rapidity and safety
with which, under our form Of government,
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, the receipts were $558, 032,-
$40, and the expenditures $500, 750,940,
leaving an available surplus Of $37 ,2S1 $50.
It is estimated that the receipts for the fiscal
year ending the 30th June, 1867, will be
S475 ,061, 1856, and that the expenditures
will reach the sum Of $316, 428,078, leaving
in the Treasury surplus Of $158 ,633, 3o6.
For the fiscal year ending June 80, 1868, it
is estimated that the receipts will amount to
$436, 000, 900, and that the expentures will
be $3.50, PAT ,641-showing an excess of
$85, 1852, $50 in favor of the Government
These estimated receipts may be diminished
by q reduction of excise and import duties !;
but after all necessary reductions shall have
been made, the revenue Of the presentand Of
following years will doubtless be sufficient to
cover all legitimate charges upon the Treas
ury, and leave large 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 coun-
try advances in population and wealth, and
yet the debt be extinguished within the next
quarter Of century
The report of the Secretary Of War fur
nishes valuable and important information in
reference to the operations of his Department
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 med
ical treatment, well sheltered and subsisted
and is to be furnised with breech loading small
arms. The military strength of the nation
has been unimpaired by the discharge of vol
unteers, the disposition Of unserviceable Or
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