The evening Argus. [volume] (Rock Island, Ill.) 1861-1871, 1866-12-05
TREAsCRER's REPORT.

80 tTREAsCRER's REPORT.
The report of the secretary Of the treasury
affords much information respecting the rev
enue aud commerce of the country. Ills
| views upon the currency, and with reference
! TO proper adjustment of our revenue sys-
| tenn, internal as well as lnpOst, are commend
| ed to the careful consideration of congress
| In my last annual message ] expressed my
general views upon thsse subjects. | need
now only call attention to the necessity OF
carving into every department. of the gov
| ernnent system of rigid accountability,
| thorough rsSre Ioh ment and wise economy
| 18th no exception to so universal expendi-
| lures, the oppressive burdens OF taxation can
| be lesssned bv such q mod icstion Of our rev
| enue laws as will be consistent with the pub
| lie faith and the legitimate and necessary
wants of the government. The report pre-
| sents a much more satisfactory condition OF
| our finances than one year ago the most san
guiue could have anticipated
| During tho fiscal year ending June 80,
| 1865, the last year of the war, the public
| debt was increased $94I ,902. 537, and en- the
3lst of October, 1865, it amounted to 81, I4O,-
| S54750. On the 3lss day OF October, 1866,
| it had been reduced to So 55l, 3l0,0G6, the
| dimlnution during the period Of ii months,
| comm snciug September /, 1865. and ending
| October 81, 1866, having been S2G6, $50.
| In the last annual report on the state of hnan-
| ces, il was estimated that, during the three
| quarters of the fiscal year ending the Both OF
| June last, the debt would be increased Sll2,-
| 1914, 947. During that period, however, it was
reduced S3l, 1916, 3ST. the receipts of the year
having been SS9, sos, 905, more than tbs es-
tim ate and the expenditures $500, 529, go less
! than the estimates.
| Nothing could more clearly indicate than
| these statements the extent and availability
| of the national resources, and the rapIdlty
and safety with which, under our form OF gov
meut great military and naval establishments
can ue dlsbanded, and expenses reduced from
| a war to peace footing.
| During the fiscal year ending the 3Oth OF
June, 1866, the receipts were S556, O32,62O !;
| the expenditures S520750,940. leaving an
| available surplus of S37 .2Sl,6S 1t Is es-
| timated that the receipts for the fscal year
| ending the 30th Of June, 1866, Will be $40
06l 1886, and that the expenditures viii reach
| the sum Of S3l6, AIS ,07S, leaving IN the treas
ury a surplus of SIS, 633 sos. For the fs-
cal year ending June 80, 1865, ills estimated
that the receipts will auounr to ; 1885, oO,-
600, and that the expenditures will be ) 5o,-
PAT GIL, showing n excess Of SO, 49, soy IN
| fGvorot the govern
Thtsa estimated receipts may be diminish
| e3 By a reduction OF excise and import du-
ties; bat, after ali necessary reductions shall
have been made, the revenue of tho present
| and following years VIII doubtless be snth-
oient 10 cover all legitimate charges upon the
treasury, and leave Large annual surplus
| to be applied TO the paymsnt of the principal
| af the debt. ThOze seems now to be no good
| reason Why taxes may net te reduced ss the
| country advances in population aud wealth,
and yet the debt be extinguished within the
next quarter OF q century.
REPORT OF THE SECRETARY OF WAR.
The report Of The secretary oE war fur
nishes va usbte an important information in
reference 10 The affairs OF hia department
| during ;ho past year. Few volunteers re-
| main IN the service, AID they are being dis
| charged RAPIDLY they can 10 replaced
| by regular troops. The army has been
| prom PITY paid, carefully provided with ned
real treatment. well 81 tserad AID eubsisted,
| and is to be furnished with breech-!osding
| small arms
| The military strength Of the nation has
| been unID paired h the discharge OF vo!un-
| teers. By the dis position Of unserYicea bic
! or perishEble 5. ores, and the Tctrsachment ct
| expenditure, sufficient material 10 meet
any emergency has been retained snd from
| the disbruded volunteers standing ready TO
respond TO the nasian nal cali large armies can
De rapidly organized, equipped and concen-
| tTareu.
! Fortifcations on the coast sud frontier
-hAye received or are beiuC pr epared for more
! powerful armaUerts. Lake surveys and har
| bur and river improvements are IN course Q!
| energetic prosecution.
| P-aparstions have besn made for the pay
meut Of tbs additional bounties authorized
| during tie recent session Of congress, under
suah regulators as Will pvotact the govern
meat f-J:n fraud and secure II the hoRoTaoly
/ discharged soidisT the well-earued reward OF
his f4ithfulEess and ca.lantry.
More than 5000 MANNED soldiers have re-
esivcd artificial limbs or other seTviceable
apparatus.
Forty-one national cemeteries, contsiuiu 6
the remains CT l04.526 union soldiers, have
already been established.
The totsl estimate Of military sppropria-
tions Is S25. 205, 600.
REPORT OF THE SECRETARY OF THE NAVY.
Il Is stated in the report OF the secretary
Of the navy that the naval force at this tin e
consists Of 27S vessels, armed with 230l
guns OF these, lis vessels, carrying l,O29
guns, are in commission, distributed chiefly
among seven squ2dgCns. The mum bar oil
men in the service is l., 600.
Great activity and vigilance have been
displayed by all the squadrons, and their
movements have been judloiously and efh
| GENTLY arranged in such a manner rs would
best promote American commerce and pro
tect the rights snd interests Of cur country
, n n abroad. The vessels unemployed ar:
undergoing repairs, and are laid M until
herr services may be required.
Nest of the iron-clad fleet is at League
Island, in tina vicinity of Philadelphia, 6
place which, until decisive action should be
taken by congress, wac selected by the sec
rotary OF tbe navy as the most eligible locs
ton for that class of vessele. II Is import
ant that suitable public station should b.
provided for the iron-clad feet. 1t is intend
ed that these vessels shall be in proper con
E Gition for any emergency, and II is desirable
that the bill accepting League leland fer ma
val purposes, which passed the house Of rep
: rsaentatives last session shall receive fna
action at az early period, in order that there
: may be G suitable public station for thu
class Of vessels, as we'll as navy yard o
area sufficient for the wants Of the service OF
: the Delaware river.
The naval pension fund amounts to Sl1
$50 900, having been increased S&7 0,OO'
, during the year. The expenditures of IN