The Wheeling daily register. [volume] (Wheeling, W. Va.) 1864-1878, 1867-12-04

in oil about $l60, ,0O0, geo. This, how
sver, taking into account the specie in
the country prior to 1919, leaves mere
than three hundred millions of dollars
which have not been accounted for by
and therefore may yet re
main in the country.
A sPECIE RAsIs NECESSARY.
These arc important facts and show how
completely the inferior currency will supcrsede
the better forcing it from oiro ulation among the
masses, and causing IL 20 Be exported as n mere
article OF trade. 20 add TO the money capital OF
foreign lands. They show the necessity OF 10.
tirlng our paper money. that the return OF gold
and silver 20 the avenues Of trade may be invi.
ted, and a demand created which will cause the
at home uf at least so much OF the pro
ductions of our rich and ineNhaustible gold
bearing fields as may be sufficient Tor purposes
Of circulation. IL Ia unreasonable 10 expect q
return 90 = sound currency 50 long as the Gov
ernment by continuing 20 issue irrcdeomahie
notes, ills the channels OF circulation with de-
preciatcd paper. Notwithstanding coinage
BY oaT mints, since lsIe, OF eight hundred and
seventy four millions Of dollars, the people are
now strangers tO the currency which was do
signed for their nse and benefit. and specimens
OF the precious metals bearing the national de.
vice are seldom seen, except when produced TO
gratiiy the interest excited by their novelty. II
manent currency Of the country, and all our
coin Is 20 become 4 mere article of traffic and
speculation; to the enhancement In price OF all
that l. Indispensable 90 the comfort of the peo-
pie, IL would he wise economy to abolish our
minis thus saving the nation the care and ex
pense incident 20 such establi blishments and let
all our precious metals be exported In bullion,
The time las come, however, when tho Govern.
ment and National Banks should be required ~
take the most efficient steps and make all neccs'
sary arrangements for = resumption Of specie
PAYMENTS at the earliest Practicable period.
Specie payBents having been once resumed by
the Government aud hanks, all notes or bills OF
paper issued BY either Of q lees denomination
than twenty dollars should by law be excluded
from circulation, ~ that the people may have
the benefit aud convenience Of gold and silver
currency which In all their business tsansar.
tiOns will be uniform In valuo At homo and
abroad.
Every man Of property or industry. every
man who desires 70 preserve what he honestly
possesses, or 10 obtain what he can honestly
earn has a direct interest In maintaining SAFE
medium-such q medium ~ shall DO
real and substantial, not Liable 20 Nbratc with
opinions, not vubjeCt 90 b. blown up or blown
down by the breath Of speculation, but 90 DO
made atable aud secure. A dlsorhcrcd currency
is one OF the greatest political eylls. II nndor:
mtnss the virtues necessary for tho support OF
the social system, aud encourages propenstties
destructive of its happiness, IL wars against In
dustry, frugality, and economy and 10 fosters the
evil spirits Of rxtravag anco aud speculation.
IL has been asserted by one Of our profound and
most gifted statesmen, that "of all the oontrivan.
Ces for cheating the laboring classes OF mankind,
none has bocn moro efcctuh than that which
dcludcs them with pApor money. THIS 10 the
most ciIectual OF Inventions 10 iertlife the rich
mans fields by the sweat OF the poor mans
brow. Ordinary tyranny, oppression, excessive
taxation-thcse bear lightly ON tho happiness of
s.N. - saFtaA
currency, aud the robberios commit
ted by deprecated paper. Our own history has
recorded for our instruction enough, and moro
than enough Of the dcmorallEing tendency, tho
injustice and the intolerable oppression ot the
yiTtuuus and welldisposcd Of \ degraded papOr
currency, authorized by law or In any way coun
tcnanccd by Government" IL IL one Of the most
successful devices, in times Of peace or war, or.
pansiOns or revulsiOns, 90 accomplish the trans
Ter of all the precious metals from tho great
mass Of the people into the hands Of tho few,
where they are boarded In secret places ar do
posltc,i In strong boxes under bolts and bars,
while the people au left 10 endure all tho inoon.
ycnpncn. sacfihcc and decentralization resulting
from the use of deprecated and worthless pa.
per money.
THE PUBLIC REVENUE.
The condition Of our hnAnccs md the opera.
lions Of our revenue system are set forth and
fully explained In the able aud Instructive re-
port Of the Secretary OF the Treasury On The
JUth OF June ls66. the public debt amounted TO
g., 7sI. as sig on tho 31th Of juno last 10 was
o. coz. i99 ans showing n reduction daring the
fiscal year Of sgI, ,22G6dt During the fiscal year
epdlrg June 80 1871 the receipts were $50 ,6Jt.
OIO, and the expenditures t5iG, -, ,l2e, having
an available surplus Of SIt1, ,9Oi ssD. IL IL cstl
mated that the receipts fsr the fiscal year end
ing June Jlth is6s will be- 7,l6l 0se, and that
the expenditures will reach the sum Of tJ11 2Gp,
2a6 leaving In tho Treasury surplus ef sSJ ~,
7J2. For the fiscal year ending june s0th, laos.
II Il cstinn ted that the receipts VIII amount 20
slsl 900, ,OOO, and that tho sKpondit uros ulll
be sIT2 OOO. .OOO, showing an excess Of to,OOO,OO0
in favor Of the Government
REVISION or THR REvTNuE srsrEn.
The attention ofCOugrcss IA earnestly invited
10 the necessity Of a thorough revision Of our
rovenue system. Our internal revense Laws and
imp0st system ShOuld be 10 adjusted ~ ~ bear
mUst heavily ON articles ofluxury, leaving the
ncces-aTios pflif ~ free from taxation ne may
be consistent with the real wants Of the Govern
ment. economically administered. Taxation
would not then fall uhdnly on the man Of mod
crate means. aud while mono would be entirely
exempt frsm assrssmrnt all In proportion ~
their pccuniary abilities. would contribute
towards the support Of thr State. modisc1'
ti0n of tho internal rVvenue system, by largo
reduction In the number Of articles now subIcst
10 tax would DC followed by results equally al.
vantags0us to the citison and thu Government
II would render the execution of the law lsas
expensive and more certain. remove ol~truc'
tiOns 10 industry lessen tho temptations to
eyadc the Law, dimlniTh the violations AMI
frauds pcrpotrdtGd upon it, provisions mako
its operations lees inqUisitOTlal, aud greatly re-
ducr Ia numbers the army Of tax rgathrrers Gro
atcd nv tho system, who take fr0m the month
Of honest labor the bres-i II has eagped. he.
reform and economy sh0uil bc car.
ried into cyery branch Of the public service, that
NHa- II Al. ..s.N Aasa0
duced and the people relieved from opprcssiTs
taxation. q sOand currency Abould DO restJredi
and this public faith In regard 10 the national
debt sarrodly Observed. The accomplishment ~
thcsr important results, together with tho resto.
ration of the Union Of ths statos upon the prn.
oiplas of the Constitution, would inspinp conf.
denoe az home and abroad In the stability Of our
Institutions. and bring 90 the nation prosperi y,
peace and good will.
IIIE WAR DErAKTxgsI.
The report Of the Secretary Of War ad interim
Exhibits the OFeTatI0na Of the army and Of tho
several Bureaus Of the War Department. The
aggregate strength Of our military fOrse. on the
estimate f0T military appropriations " fI.Isf,'
7U7 including adeBcienng In last years appro-
priati0n Of 81. .GD0.Oo. The payIBesn At the
Treasury on account Of the service Of the War
Department frOts Jasuary 10 October ~, 1851
"a period Of ten mOntls,--ameunted 70 ti09,'
i
msnt. - vel as the Bahnsers Of The army, are
now three times ~ great a. they have over LeeB
in time Of peace. While tho Discretionary power
is vested Ia the Executive 70 add millions 10
this expenditure By an lBereass Of the army 10
the mIIimum strength allowed By the Law.
TIE INDIAN oUKsuos. ftT
Tbs menscing attitude Of some of tks warHks
bands Of Indians inhAbiting the district of oous'
try between tho Arkansas and Platte hssts,
aud DOrtiOIs "a Dakota Territory. EsqaiTed tho
gSon. InstigAt4d by reai % imaginary grieyRn.
ess. the indians Oocas0Rally Cotanittsd acts of
DArbatOus violence upon suigrsots and our
fFgRticT settlements, but Enner.l Indian war
bas been prOyidsHtiaily ayeTted, The Commits
sinners under TIRE art u 20sb July. ies1, Sero
invested sith fnh power 10 adjust existing dlf.
feultie. negotiate treaties with tbe dissnseted
banda aud select fcF thsm fessrystlaaz remote
from the traYelsd routes bctWeen the Nisslssip-
pi and the Pacific. They entered ---tssrt Delay
upon the eEeestioa of their traat, bat have not
yet Ia1de any Oficial rspoTt Of THAR procsed.
lngs- u is u vital importaoee that our Distant
Territories should " eEempt FROM IDdish out
breaks, and that ths construction Of the Paeths
Railroad, an Object Of nsiton.i impsftsncs,
should moi ~ INTERRUPTED ~ ke.tlle tftbas.
Thsse Obioets - well - tbs material intsrrst<
and the moral and ntsileetual Improvement 0f
the Indiana, can BE- m0st efsctaally eecafed by
concentrating them upon portions 0f eoaBtry
at ausrt for their exclusive use and located at
Doints remote from our Highways and sneroash.
ing White settlements.
PIciyc RAiLzosp.
Since ths commencement of the sseouf se.
Ian sf The IhiTtyiSinih Cengres. fys huadSed