The daily phoenix. [volume] (Columbia, S.C.) 1865-1878, 1866-12-04

ing the goth of June, 1866, the re-
celpts were S55S, ,032, 620, and the OK
penditures $500. $50, $40; leaving an
available surplus of S37, 2S1, $50. It
is estimated that the receipts for the
fiscal year ending Both June. 1867.
will be $475, 06l 1856, and that the ex
penditures will reach the sum Of
S316, 42S, ,O7S, leaving in the Treasury
a surplus of $15S, 633, 3OS. For the
fiscal year ending June so, 1868, it is
estimated that the receipts will
amount to $436, 0O0,0 900, and that the
expenditures viii be $3.50, ,247, GAL;
showing an excess of $50, 752, $50 in
favor Of the Government. These es-
tlmated receipts may be diminished
by q reduction Of excise and import
duties; but after all necessary reduc-
tions shall have been made, the rcve-
nue. ofShe present and of following
years will doubtless be sufficient to
cover all legitimate charges upon the
Treasury, and leave Il 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 extin
gulshed within the next quarter of a
century.
The report of the Secretary of
War furnishes valuable and impor-
tant information in reference to
the operations OF his Department
during the past year. Few volun-
teers now remain in the service,
and they are being discharged as
rapidly as they can be replaced
by regular troops. The army has
been promptly paid, carefully
provided with medical treatment,
well sheltered and subsisted, and is
to be furnished with breach-loading
small arms. The military strength
of the nation has been unimpaired
by the discharge of volunteers the
disposition of unservicable or perish
able stores, and the retrenchment Of
expenditure. Sufficient war material
to meet any emergency has been re-
tanned, and from the disbanded vol
untecrs, standing ready to respond to
the national call, large armies can be
rapidly organized, equipped and con-
centrated. Fortifcations on the coast
and frontier have received and are
being prepared for more powerful az
maments. Lake surveys, and harbor
and river improvements, are in
course Of energetic prosecution. Pre-
parations have been made for the
payment Of the additional bounties
authorized during the recent session
of Congress, under such regulations
as will protect the Government from
fraud, and secure to the honorably
discharged soldier the wcll-earned re-
ward of his faithfulness and gallant
ry. More than six thousand manned
soldiers have received artificial limbs,
OF other surgical apparatus, and
forty-one national cemeteries, con-
tanning the remains of i04, 526 Union
soldiers, have already been establish
ed. The total estimate of military
appropriations is $25, ,205, 669. 1t is
stated in the report of the Secretary
of the Navy, that the naval force
at this time consists Of 27S vessels,
armed with 2,351 guns. OF these,
115 vessels carrying 1929 guns, are
in commission, distributed chiefly
among seven squadrons. The num-
Der of men in the service is Is, 900.
Great activity and vigilance have
been displayed by all the squadrons,
and their movements have been judi
ciously and efficiently arranged in
such manner as would best pro-
mote American commerce, and pro
tect the rights and interests of our
countrymen abroad. The vessels un-
employed are undergoing repairs, or
are laid up until their services may
be required. Most of the iron-clad fleet
is at League Island, in the vicinity of
Philadelphia: a place which, until de-
cisive action should be taken by Con-
gress, was selected by the Secretary of
the Navy as the most eligible location
for that class of vessels. 1t is i'm
portant that a suitable public station
should be provided for the iron-clad
fleet. 1t is intended that these YES
sells shall be in proper condition for
any emergency, and it is desirable
that the bill accepting League Island
for naval purposes, which passed the
House of Representatives at its last
session, should receive final action at
an early period, in order that there
may be suitable public station for
this class of vessels, as we'll as a navy
yard of area sufficient for the wants
OF the service on the Delaware River
The naval pension fund amounts to
yS,n L