The Fairfield herald. [volume] (Winnsboro, S.C.) 1849-1876, 1867-12-18
MTISS AGEJ
or TIE
President Ofthc United States
coNcLUD1D.]
EENtE(,Sc
FINANCES.

l.
FINANCES.
The condition OF our finances and the
operations Of our revenue system arc
SCI forth and fully explained IN tho able
and nstrlctivc report Of tho Secretary
Of tho Treasury. On tho 30;h Of June,
1866, tho public dobt amounted to ST..
73S, ,425,S19; on Tho 30'h Of June last
it was S;2,G92, 100, showing q re-.
duction during The fiscal year OF ol,-
226,GGl. During tho fiscal year ending
June 80, 1867 the receipts were $780,.
G34,0l0, and tho expenditures S34G,.
72o,lo9, leaving ali available surplus Of
$l43,9Oi, $50. 1t is estimated that the
receipts for the fiscal year ending June
80, 1868, will bo 3ll7,lGl, ,92S, and
that tho expenditures will reach the
sum Of $3o3,269, ,22G, leaving in the
Treasury a surplus Of S23,S92, ,702.-
For the fiscal year ending Juno 80,
1869, it is estimated that tho receipts
will amount to $3Sl 900, 900, and that
TIC expenditures will 10 1912, 600, 900,
showing an excess Of $9,0O0,OOO in "a
vor Of llc Government.
REVENUE.
Tho attention OF Congress is earnestly
'nv'ied to the necessity Ola revision Of
our revenue system. Our internal Tevo
nuo laws and impost system should be
so adjusted rs to bear most heavily on
articles of luxury, leaving the ncccssa-
rics OF life as free from Taxation as may
be consistent with tho real wants Of tho
Government, economically administered
Taxation would not then fall unduly on
tho man Of moderate means and while
mono would DO entirely exempt from
assessment, all. in proportion to their
pecuni.ry abil,ics, would contribute
toward tho support of Tho State. A
modification OF the internal revenue
system, b.y large reduction IN the num.
Der of articles now subject to tax, would
be followed by results equally advanta.
goous TO 'ho citizen and the Govern.
mont. 1t would render the execution Of
the law less expensive and more cci ;ain,
remove DISTRACTIONS 10 industry, lessen
tho temptations TO cvadc ;l.c law, dinin.
ish the violations and frauds prIpc. rated
upon its provisions, make ns operations
less inqn'sitorial, and greatly rcdnce i'll
numbers the army Of tax sa'hcrcrs c'ca.
ted by the system, who "lal;a from tho
mouth Of honest labor the bread it has
earned" RctrenchmenI, reform and
economy should DO carried into every
branch Of tho public service, that tho
expenditures of the Government may
bo reduced and tho people relieved from
oppressive taxation "a sound currency
should bo restored, and The public faith
in regard to the national debt sacrcdly
observed. Tho accomplishment OF lhcso
important results, together with the
soralion OF The Union of The States
upon the principles Of the Constitution,
would inspire confidence at homo and
abroad in tho stability Of our institutions,
and bring to the nation prosperity, peace
and good will.
WAR DEPARTMENT.
The report ol the Secretary of War
al intoajm exhibits tho operations of The
army and Of the several bureaus of The
War Department. Tho raggreeate
strength Of our military fo.cc on the
30th of September last was 56,3l5.--
The total estimate for military oppro-
priations is $77,l24,70T, including a
deficiency in last years appropriation 0!
Sl3,60O,0O0 The payments at the
TIsasury on account Of tho service Of
tSfskNVar Department. from January l
10 October 20, lSG7---a period 0! zen
mon,hs--amonntcd to $l09,S07, 0O0.--
Tho expenses Of tho military ostablish-
ment, as well rs tho numbers Of the ar.
my, arc now three times as great as
they have ever been in times Of peace
while the discretionary power It invest
cd in the Executive to add millions to
this expenditure by an increase of tho
army, to the maximum strength allowed
by tho law.
Tho menacmg attitude of some OF
tho warlilo bands. Of Indians inhabiting
tho district Of country between the Ar.
kansas and Platte rivers, and portions OF
Dako'ali Territory, required tho pres
once Of large military force in that
region. fnsligatcd by real or imaginary
grievances, the Indians occasionally
committed acts Of barbarous violence
upon cn,igrants and our frontier settle
mcnts; but general Indian war has
boon plovidentially avorlod. Tho COM
missloncrs undcr tho act Of Goth July,
1867, wore invested with full power ia
adjust cxisting difficulties. negotiate
treaties with the dsaffected bands, and
select for them reservations remote from
travelled routes between the Mississippi
md the Pacific. They entered without
delay upon tho execution Of their trust,
but have not yet made any Official re.
port Of their pr, 'eedings. II is of vita