Prescott journal. [volume] (Prescott, Wis.) 1861-1871, 1866-12-15

lar troubles. Inc war having lefininh-
ted, and with it all occasion for the ex-
ercise of powers of doubtful constitu-
tionality, we should hasten to bring Leg
islation within the boundaries prescrib-
ed by the constitution, and to return to
the observation-disclosures established by our
fathers for the guidance of succeeding
generations. The constitution, which
Gt all times exists until changed by an
texplicit and authentic act of the whole
people, is sacredly obligatory npon all.
If, in the opinion of the people, the dis
tribution or modification of the con-
stitutional powers be in any particular
wrong. let il be corrected by an amend
ment In the way in which the constitu-
ton designates, but let there be no
change by usurpation. for it Is the GUS
tomary weapon by which free govern
ments are destroyed.
Washington spoke these words to
his countrymen, when, followed by
their love and gratitude, he vOluntari-
" retired from the cares of public life
Ito keep, III all things, within the pale
of our constitutional powers, and to
cherish the Federal Union rs the only
rock of safety. They were prescribed
lby Jefferson as rules of action to endear
f. his countrymen the true principles
OF the constitution, and to promote a
Union of sentiment and action equally
suspicious to their happiness aud safe
ltv. Jackson thought the action of the
general government should always be
strictly confined TO the sphere OF Its APP
propriate duties, and justly and forcibly
urged that our government is not to be
maintained, nor our Union preserved
by invasions of the rights aud powers
of the several states. In thus attempt
ing to make our general government
strong we make it weak. Itis true,
strength consists In leaving individuals
and states as much as possible to them
selves, IN making itself felt, not in its
power, but In its benefcence; not IN
binding the states more closely to the
lcenter, but leaving each to move unob-
structed in ATS proper constitutional or
bit. These are the teachings of men
whose deeds and services have made
them illustriOus, who, long since with
ldrawn from the scenes of life, have left
to their country the rich legacy of their
counsel, their wisdom, and their patri-
otism. Drawing fresh inspirations from
their lessons, LET us emulate them III
love of country and respect for the
constitution and the laws.
TIE TREASURY REPORT.
The report of the Secretary OF the
Treasury affords much information re-
speeding the revenue and commerce OF
the country. His views upon the cur
rency and reference to prop ADJUST
ment of our revenue system, internal
as well as impost, are commended tC
the careful consideration of Congress
In nv last annual me- sage / expressed
nv general views upon these subjects
need now only to call attention 10 the
necessity of crrrying into every de
? partment Of the government "A system
t Of rigid accountability, thorough re
= trenchment and wise economy, with M
exceptional or unusual expenditures
i The oppressive burdens of taxation cal
= be Iessened by such modification o
= our revenue laws as will be cOnsisten
2 with the public faith, and the leglti
: mate and necessary wants of the gov
, eminent. The report presents a muei
: more satisfactory condition of our tinan
r ces than one year agO-mOre satlstactOr,
2 than the most sangulne could have an
= ticipated. During the fiscal year, end
e ing June 80, 1866, the last year of tn
s war, the public debt was increases
S94I. 800. 537. and on the 9lst of Octo
{ Der, 1865, it amounted TO -, 74O, 054,
: $50. On the 31st day of October. 1866
4 it had been reduced to $2,551, $40, 00f
3 the dimunition during period of fOur
| teen months, commencing Sept. LIST
! 1865. and ending October 3lst, 1866
3 having been $206, 379,565.
3 In the last annual report on the stat
of finances it was estimated that during
! the three quarters of the fiscal year
= ending the 30th of June last, the deb
, would be increased SIP, 1914, 947. Dur
ing that period, however, it was reduc
b ed S3I, l96, 3S7, the receipts of tn
: year having been $50, 905 more
1 and the expenditures 5000, 500, 235 les
2 than the estimates. Nothing coulC
more clearly indicate than these state
ments the extent and availability of tn,
national resources, and the rapidity ant
safety with which, under our form o
} government, great military and naval es
Establishments can be disbanded and ex
penses reduced from a war to peace
} footing. II FIX &&&
| During the fiscal year ending the 30tl
of June, 1866, the receipts were S55S,
D32, $50, the expenditures, $500, $50 $40
leaving an available surplus of S37, 2S1,
, $50. 1t is estimated that the receipts
for the fiscal year ending 30th of June
1867, will be S465, 06I, 1896, aud that the
expenditures will reach the sum of S8l6,.
52S, 07S, leaving in the treasury a sur
plus of SIS. 533, 30S For the fiscal
year ending June 80, 1868, it is estima.
ted that the receipts will amount 70
S436, 900, 900, and that the expenditures
will be $3.50, 427, Gal, showing an excess
of S85, 752, 359 in favor of the govern
ment. These estimated receipts may
be diminished by a reduction of excise
and Import duties, but after all neces-
saIy reduction shall have been made,
the revenue of the present and follow
ing years will doubtless be sufficient to
cover all legitimate charges upon the
treasury and leave large annual sur
lplus to be applied to the payment of
the principal of the debt. There seems
now to be no good reason why taxes
should not be reduced as the country
advances in population and wealth, and
that the debt be extinguished within
the next quarter of a century.
REPORT OF THE SECRETARY OF WAR.
The report of the Secretary of War
furnishes valuable and important infor-
nation In reference to the operations of
his department during the past year.
Few volunteers now remain In the ser
vice, and they are being discharged as
rapidly as they can be replaced by reg
20 u nv