Green-Mountain freeman. [volume] (Montpelier, Vt.) 1844-1884, 1867-12-11

fills the channels of circulation with depre-
ciated paper. Notwithstanding a coinage
by our mnts since 1919 of cight hundred and
| seventy-four millions of dollars, the people
are now strangers to tie currency which was
dcsi gned for their use and benefit. and speci-
mems of the precious metals bearing the
| tional device seldom seen except when
produced to crafty the interest excite by
their novelty. If deprecated paper is to be
continued as the permanent currency of the
country, and all our coin is to become mere
article of traffic and speculation to the en-
hancement in price Of all that is indispensa-
bic to the comfrt of the people, it would he
wise economy to aholosh our mints. thus
saving the nation the care and expense Incl
dent to such establishments, and let all our
precious metals be exported in bullion. Tie
time has come, however, when the govern
mcnt and the national banks should be re-
quircd to take most efficient steps and MAX
all necessary arrangements for resumption
| of specie payments at the earliest practicable
period.
Specie payments having been once resumed
bv the government and banks. all notes
bills of paper issued by either, of a less de-
nomination than twenty dollars should by
law be excluded from circulation that
the people NAV have the benefit and con-
venience Of a gold and silver currency which
/ in all their business transactions will be uni
form in value al home and abroad. Every
man of property or industry, every man who
desires to preserve what he honestly pos-esses,
or to obtain what he can honestly earn, has
1t direct interest in maintaining safe circu-
lating medium, such Il medium shall ic
real and substantial. not liable to vibrate with
opinion. not subject to be blown upon blown
down by the breath of speculation. bat t. be
made stable and secure. \ di-ordercd eur
rencv is one of the greatest political evils
1t undermincs the virtues necessary for ths
| support of the social system, and encourage
propcnsities destructive of its happiness.
1t wars against industry frugalty and econ
omv. and it fosters the evil spirit Of eXtrav-
agance and speculation. 1t has been asserte +
bv one of our most profound and most gifted
statesmen. that - of all contrivance for
cheating the laboring classes of mankind.
more has been more efftctual than that which
deludes them with paper money. This is the
most effectual Of inventions to fcrtilize the
rich man fields by the eat of the poor
mans brow. Ordinary tyranny, oppression,
excessive axation-these hear lightly on the
| happiness of the community. compared with
Il fraudulent currency and the robberies COM
mittcd by deprecated paper. Our own
history has recorded enough, of the demor
alizing tendency, injustice and intolerable
/ oppression on the virtuous and we'll disposed
! of a degraded paper currency authorized by
/ law or in any wav c1untenanced by = avern-
mcnt-' Ii is one OF the most successful de-
vices in times of peace or war, expansions
/ or revulsions, to accomplish the transfer Of
all the precious metals from the great mass
I Of the people into the hands of few, where
/ they are boarded in secret places or deposited
/ in strong boxes under bolts and bars, while
the people are left to endure all the incon-
venienccs, sacrifices and decentralization re-
sultinc from the use of deprecated and
worthless paper money.
THE CONDITION OF OUR FINANCES.
and the operations of our revenue system are
set forth and fully explained in the able and
instructive report of the Secretary OF the
Treasury On the S0th Of June, 1866, the
public debt amounted to S2.7S3. .425 ,S19: on
the 80 h of June last. it was s., ,692. l99. .2l5.
showing reduction during the fiscal year of
S9I ,226 Col During the fiscal year ending
June so. 1867, the receipts were S49o 634,-
0l0. and the expenditures $346,729 ,l29.
leaving an available surplus of ! l43 .9n4 $50
1t is estimated that the receipts for the fiscal
year ending June 80. 1868, will be S4l7.
l6l ,928. and that the expenditures will reach
the sum of 1898 .269 900. leaving in the
Treasury a surplus Of S23. 3.S92,7o2 For the
fiscal year ending June 80, 1869, it is esti
mated that the receipts viii amount to 1881 =
600 600 and that the expendi urcs will ~
S}72. 900 .00o. showing an excess of s, ,O0o,-
600 in favor of the government
INTERNAL REVENUE.
The attention of Congress is earnestly in
vited To the necessity of a thorough revision
of our revenue system. Our internal revenue
laws and impost system should he 50 adjusted
/ as r. bear most heavily on articles of luxury.
leaving the necessaries of life rs fee from
/
wants of the government economically ad-
ministerei. Taxation would not then fall
unduly on men of moderate means, and while
none would be entirely exempt from assess
ment. all in proportion t. their pecuniary
abilities would contribute towards the sup
port of the state. \ modification OF the
internal revenue system by II large reduction
I in the number of articles now subject to tax.
would be followed by results equally advan
taceous to the citizen and the government.
1t would render the execution of the laws
/ less extensive, and more certain; remove the
obstructions TO industry lessen temptations
II evade the law; diminish the violations
and frauds perpetrated upon its provisions
make it's operations less inquisltorial, and
/ greatly reduce in numbers the army of tax
/ gathers created bv the system. who take from
! the mouth of honest labor the bread it has
earned. Retrenchment, reform. and economy
/ should be carried into every branch OF the
/ public service, that the expenditures of the
government nav be reduced, and the people
relieved from oppressive taxation.
/ 4 sound currency should be restored and
public faith in regard to the national debt
sacrediv observed The accomplishment of
/ these important results, together with the
restoration of the union of the states upon
/ the principles of the Constitution, would in
spire confidence at home and abroad IN the
stability of our institutions and bring to the
nation prosperity, peace and goodwill.
DEPARTMENT REPORTS.
The report of the Secretary of War, ad
interim, exhibits the operations of the army
and the several bureaus of the War Depart
ment. The aggregate strength of our mill
/ iary force on September last, was So 3l5.
| The total estimate for military appropriations
is S77, ,707, including deficiency in the
last year's appropriation of $l3,60O, 900
Payments at the Treasury on account of ser
vice in the War Department, from January
lst to October Goth, 1867, period of ten
months, amounted to SlOo, 800 ,O0'. The
EXPENSES of the military establishment, as
we'll rs the numbers OF the army are now
three times as great as they have ever been
in time of peace, while the discretionary
power is vested in the Executive to add mil
lions TO this expenditure by an increase OF
the army to the maximum strength allowed
by law.
The comprehensive report of the Secretary
of the Interior furnishes interesting informa-
ton in reference to the important branches
of the public service connected with his de-
partment The mcnacing attitude Of some
| warlike bands of Indians inhabitIng the dis
trict of country between the Arkansas and
Platte Rivers, and portions of Dacotah ter
4 "a r,1 . fbnv Of lara m IL