The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1867-12-03

aud show how completely inferior currency will su-
persede coin, forcing IL from circulation among
masses ana causing be exported as article
Of trade add TO capital In foreign lands They
show tho necessity Of retiring our paper money
that q return OF gold and silver 70 the avenues Of
trade may invited and demand created
which will cause the reten ZION at home OF much Of
the or our rich and gold
ing leds may be sufficient for purposes OF circla-
ton Il is unreasonable 10 expect return 70 sound
currency 80 long the oyernment, by continuing 10
issue irredeemabe notes, hls the channels o. cifcua
ton with appreciated paper, notwithstanding the
ss74, oOo,o 900. People are now strangers to
The currency which Designed for their use
Ing the national devise are seldom seen except whom
produced 10 crafty Interest, excited by their novelty
deprecated paper IS 70 20 continued as the permanent
currency OF the country, all coin IL become
mere article OF traffic aud speculation the enhance
ment in price oa that is ind spensabIe to the comfort
Of the people II would DO wise economy to abolish
our mint thus saving the nation the and expense
incident TO sucn establishments and j. lot
Time has come however. when government and ma
touaI banks should be required 10 take the most Ell.
steps aud make all necessary arrangements for
resumption Of specie payments at the earliest practical
period. Specie pay nents having resumed by
toe government aud the bank ali notes or bills 81
paper by either OF denomination than 500
should by Law DO excluded from circulation, that
the people may nave the benefit and convenience
OF a gold and silver Currency, which in Gil
their business transactions will be value
at home and abroad. Every man of property in-
dustry, every man who desires 10 preserve what he
honestly possesses to obtain what he has honestly
easned has direct interest in maintaining safe crcu
latiux medium, medium snail Du real SUBJ
santa not ianle to ybrate with opinions not subject
to be blown up or blown down by the breath
Of speculation but 70 be made stable and
secure. dsordered currency is OF the
greatest political evils. II undermines the virtues
necessary Tor tho support OF the social system and
properties destructive OF its happiness II
against industry. frugaity and economy aud Is fosters
the evil spirits Of extravaganza and speculation II has
been asserted by of profound and gifted
statesmen that OF all contrivances cheating The la
boring classes OF mankind none has been enectua
than that which dsudes them with paper money. This
l
the rich mans field by the sweat Of the poor
excessive bear lightly on the happiness
oil the mass OF community, compared with fraudu
lent currency and robberes committed by deprecated
paper Our HISTORY has recorded for our instruc-
lion enough aud more than enough or demoralizng
tendency. injustice and ntolerabs oppression the
reucy authorized by law or in any way coantenanced
by tho government 1t one OF the most successful
or rsvulson. 10 accomplish the - transfer OF
all precious metals from the great
boarded places deposited strong boxes
under bolt and bars whio the people arc lett 10 endure
all the Inconvenience and sacrifice and Generalization
resulting from the OF deprecated and worthless
paper money. The condition OF finances aud the
operations Of our revenue system are set forth and
fully explained IN the able and instructive report
OF the Secretary Of tho Treasury On the aO4h
OF June, 1866. the public debt amounted to
| 81. 1873 425s79; on the 3oth OF June last IL was
$2,692, 1893 2l5, showing reduction during tho fiscal
Of SOL 664 During the fiscal ending June 80
$346 1870 100 leaving available surplus OF SAB 904-
$50. II Is estimated that the receipts for thosca year
ending June go 1868. will DO s4l7l6l 92s and that the
expenditures will roach the sum OF $3g3 269 226. leav
Ing in tho Treasury surplus OF $50 so2 7o2. For
fiscal year ending June So 1862 estimated that
tho expenditures will b. s372 600 co., showing excess
OF SO 600 600 In favor OF the government The attention
OF Congress Is earnestly invited TO the necessity OF
thorough revision OF revenue system Our internal
revenue laws and import system should be adjusted
life y free from taxation as NAV be-
sistent with the real wants OF the government econom
caly administered. Taxation would not then fall I'M
duly ON the man Of moderate means, and
while would be entirely exempt from
sessment, all, in proportion to their pccani.
airy abilities, would contribute towards the sup
port OF the state. modification Of the internal
| revenue system by large reduction In ndmber Of
articles now subject TAX, would be followed by re-
suits equally advantageous 10 citizen and government
| Ii would render the execution OF The law less
Industry iossen temptation to evade tho law diminish
violations and frauds perpotraied upon its pro-
visions, make s operations loss inqusonal and great
y reduce in numbers the army Of tax gaherers created
/ by the system. who take from the mouth OF honest
labor The bread II has earned Rstrenchment reform
the publ service the expenditures the govern.
ment may be reduced and ne people relieved from OPP
| and public faith 10 regard to the national debt "a
Greedy observed. Tho accomplishment or these
lSs United States upon tie Dracpis'
Of the constitution, would inspire confidence
The reports or the Secretary q War ad III rim OK
TIC War department The aggregate strength OF the
military force on the Both OF September last was &c. ais
soa nsaalns decences n as. 1ssq
tons OF $l36o 0.0o0 Payments al tho Treasury
count OF military service from January 70 October 49,
1s67-a period OF ten moDths-amouned to &109 0OO
| The expenses OF the military es ablish men
| as well IS the numbers OF the army,
have ever been IL lime OF peace whs Discretionary
power In tho Executive to add millions to the
expenditure by an increase Of the army 10 the maximum
allowed by
lne comprehensive report OF the Secretary OF tho In
terror furnishes Interesting ormsiion reference TO
his department. The menacing attitude OF warike
bands OF Indians nhabtng tie district OF country between
tho 0rk and Platte rivers and portions OF Dakota Terri
tory required the presence OF large military force In
that region. Ins,igatet BY real or imaginary
OF barbarous violence upon engrans and IRON
tier settlements. But general Indian war has been
act OF July 20 1867 invested with full power 70
| adjust all existing difficulties, regulate treaties
tons remote from travelled routes between the Mis-.
sissppi and the Pacific. These entered without delay
upon Che execution q their trust but have not made
importance that distant territories should be exempt
from Indian outbreaks and that the construction Of tho
should DO interrupted by hostile tribes. Those
scts, well as the material interests aud
intellectual improvement Of tho Indians be
eectualy secured by concentrating upon portions
Of country Get apart for their exclusive
ct points from high ways encroaching white
settlements. Since the commencement OF tho second
session Of the thirtyniuth Congress vo hundred and
ton miles Of the road have been constructed the
main limo and branches OF the Pacific Railway. The
limo from Omaha rapidly approaching tho eastern
Of Tho Rocky Mountains while the terminus Of the last
section OF the constructed road IN California accepted
vas but eleven miles distant from the summit
OF the Sierra Nevada The remarkable energy
svnccd by the companies offers the strongest assurance
that the completion OF the road from 10
Omaha will long deferred During last fiscal
year oI ia acres OF tho public lands were disposed OF
and receipts from and fees exceeded By
half million dollars the realized from these sources
during the preceding year.
The amount paid 40 pensions including the
expense Of dBburssments, was y1S,0lo. o36 and
36,ls7 names were added the ros The
entire number Of pensions tue so.h Of July last
was 1894
1855 patents and designs issued during the year
ending September co. 1897 and that date the balance
In Treasury 20 the credit Of the patent fund $3.50 GOT
The Report Of the Secretary Of tho Navy states that