The Jasper weekly courier. [volume] (Jasper, Ind.) 1858-1922, 1867-06-08
Secretary Mccullooh-views on the FL

Secretary Observation-Disclosures on the Fl
nancla. ca~dition Of the Country.
New YcRK. May 70 Secretary Ne
Culloch has declined an Invitation 10 pub
slc dinner rendered BY the leading clIizsn.
Of Boston.
Speaking OF the financial condition OF Tho
country he says: You must not expect our
monthly statements for the first Of lie pre-.
sent year or the early part OF the next lscal
year viii BE- as satisfactory as FOR many
months past. The donations of bouniies Il
soldiers. pfeporstlons lor threatened n.
dan war, even II it should be avoided, and
The very liberal appropriations 81 a miscel-
laneoua character, win csuse unusual drafts
OF the treasury. while on The other hand
tbe general failure Of The wheat crop and
the partial failure oi me corn crop last year,
Ihe el3w progress IA the restoration OF the
Southern States, the dolaess of trade
throughout the county, partially the result
Of decrease 10 production sni partially OF
the natural reaclion which always follows
periods of excitement and speculation, 10
gether with the reduced receiyis from taxes,
will very considerably afgecl our revenues
Thls combination Of adverse circumstances
may reiard ihs reiurn of specie payments.
and, with the large issues 81 bouds 10 be
made 70 The Pacific rslroad aud ls branches
or divisions will prevent for ssason a re-
iuctioa Of the public debt; ard may even
render temporary Increase of il unuvoids-
bic. But this will not weaken my faith in.
our ability 10 move in The tight direction al
an early day. Or, Oh lhe contrary, | be-
lieye ihst nis Temporary check 10 our pro-
gress viii lead 70 Improvements in our reve.
nue. laws and an increase Of efficiency in
their execution, hasten the representation
d The Southern States in Congress, and Sc
cure greater economy 10 all BREACHES Of The
public eersice.
Dir. McCulioch explains the reason why
le has not, for some months. reduced tie
Of United States notes. viz
fhe opposition q ne majority Of Congress
Q Immediate contraction, tha existence OF
orebodings II financial trouble, aud Inc
Iangef Of panic 10 ,hs commercial city; u
njariously affecting tie legitimate business
4 the country by Ihe necessity of paying
7 converting large sums of interest bear-
pg notes wlghin the present and aext fiscal
ear, ~ above stated. lls concludes:
You win not infer from what have writ.
"a 1hai an not hopeful 10 regard to our
nancial condition IA de future. Ii has
cen ny constant aim 70 70 manage The no.
onal finances " ad in bringing the coun
y y healthy financial condition without
eing subjected to tie severe disasters
l'ch many iaaicion, persons have suppos
the large debt. the deran cement III busi.
ess, ,he dimuniiicn 81 INDUSTRY occs ssionec
Y the var. and the redundant currency
ould render inevitable.
My faith that this Gun DO accomp shed i !
nshaken; causes which are now operating
gains' Us are exceptional end temporary.
he prospect o. good crop 81 winter wheat \
a. never better; more spring wheat has /
sen sowed, and more cora has or will b.
anted this season than ever before. The Il
'oPle ere beginning 70 comprehend the
iportant trust which seems 10 have been
sregarded for some years past. that pros. 4
rity il the result of labor; that industry NJ
d economy ore as Indispensable 10 The na- i
n a. individual wealth. shall be disap. 4
inled il anyhsf wear does not wilness u
rgs Increase of industry and enterprises. Il
q Of revenue. Decided progress toward 2
resumption Of specie payments and a =
'sdy reduction of the public debt will thus r
effected. yoar obcdienl servant, "A
H. McCuLLocH. 4,