Prescott journal. [volume] (Prescott, Wis.) 1861-1871, 1867-12-14

ganCe ana SpeculduOn-
1t has been asserted by one Of our pro.
found and most gifted statesmen, that OF
an contrivances for cheating the labOTlng
classes of mankind. none has been more
effectual than that which deludes them
with paper money. This is the most
effectusl of inventions TO fertiiize rch
mems fields by the sweat OF the poor
mans brow. Ordinary tyranny-opllres-
sion OF excessive taxatiOn-these Dear
tightly on the happiness of the masses OF
the community, compared with lradu-
-, ,.,rren,.,r and rObberies committed by
.;..,,racisted naDer. Our own history is re-
c,rdsd for oar instruction. Enough, aud
more than enough of the demOTalizing
tendency. injustice and intOlerable or
pressiOn on the viTtuOus and we'll dis
posed OF a degraded paper currency, au-
IhOrized by law, or in any way counter
anced by law. IL Is one u the most
successful devices Of times of peace or
war, TevulsiOns or revolutions, to accom-
plish the transfer Of precious metals from
the great mass of the people into the hands
Ot few where they are boarded ia secret
places, OF deposited In strong boxes under
bolts and bars, while the people are lett 10
endure ali the inconvenience, sacIihCe ana
decentralization resulting from The use Of
The condition of our finances and the
CpsratiOn of our revenue system are set
forth and fully explained in the able and
instructive report of the Secretary of the
Treasury. On the 30th of June, 1866, the
public debt amounted TO S2,7s3.4Z5,879,
on the 3Oth Of June last il was -, 692, 1884,
2I5, showing a reduction during the nscal
year of ST., 226, 664 During the fiscal
wear ending June so, 1867, the receipts
were $3.50 4,OI0, and expenditures
1856. 729 lag, leaving an available surplus
OF St43, 9O4, $50. 1t is estimated that the
receipts for the fiscal year ending June
SOth. 1865. will be S4I7, 16l-92S, and That
Gf expenditures viii reach the sum OF
1898, 226, 226, leaving Ia the Treasury a
surplus of $50, 500 ,702- For the fiscal year
ending June 80, 1859, it is estimated that
the receipts will amount TO 1881, 600, OnO,
and that the expenditures viii be $4,000,
OOO- showing an excess OF =S,OuO; OOO Ia
favor Of the government
The attention Of Congress IS earnestly IN
gited 10 the necessity OF thorough Teyi-
sion OF our revenue system Our internal
revenue laws and import system shOuld be
80 adjusted as 20 bear most heavily on ar
tiCles of luxury, leaving the BecessaTIes OF
life as free from taxation as may be con-
sistent with the real wants of the govern
ment- the government economically al
miuistered taxation would not then fall
uDdulv upon the man of moderate means,
and while none would be entirely exempt
from assessment, all in proportion TO their
pecuniaTy abilities would contribute to-
wards the support Of the State 4 modih
cation of the internal revenue system 10y
a large reduction in the number Of articles
now subject to tax, would be followed by
results equally advantageous 10 citizens
and government. Ii would render the en-
ecutiOn Ct the law less expensive and more
certain, remove the distractions N indus
try. lessen the temptations 10 eyace The
law, diminish violations and frauds peTpe-
tFated upon its provisions, make its OpeT-
stions less inQuisitOral, and greatly reduce
in numbers the army of tax gatheTers ere
ated by the system, who take from the
mouth Of honest labor the bread it has
earned.
A sound currency should be restored,
and public faith IN regard 10 the national
debt saCTedly observed The accomplish
Iuent OF these important results, together
with the restoration Of the union OF the
states upon the principles OF the COnstitu-
lion, would inspire confidence, at home and
sbTOad, il the stability Of our institutions,
and bring 10 the nation prosperity, peace
and good will.
TEE WAR DEPARTMENT REPORT.
The report Of the Secretary Of War al
iH!sTim, exhibits the operations OF the army
and several bureaus Of the War Depart
mcnt. The aggregate strength of the mill
tarV force on the 3Uth Of September last,
was SO, 315. The total estimate for mill
taIy appropriations is S77, I24, 707, includ-
ing the deficiency ia last years appTOpTi-
alton Of SI3, SOC, 900. The payments al
the Treasury on account Of service in the
War Department, from January ! to DC
tObeT %, 1867. a period Of ten months,
amounted TO SIS, Os7 600. The expenses
Of the military establishment are three
times as great az they have ever been in
time OF peace Ample discretionary pow
er is vested ia the executive to add mil
lions to this expenditure by al increase of
the army TO the maximum strength allowed
by them.
The comprehensive report Of the Secre-
taTy Of the Interior furnishes interesting
information ia reference To the important
branches OF the public service, collected
within his department The menacing at
titude Of some WaFlike bands of Indians
inhabiting the district of country between
the Arkansas and Platte Rivers and pOr-
tons of DakOtah territory, required the
presence of a large military force in that
region. Instigated by real or imaginary
grievances the Indians occasionally COM
United acts OF baIbarOus violence upon
emigrants and our frontier settlement but
a general Indian war has been prOviden-
tally averted. The Commissioners under
the act of the 10Th Of July, 1867, were in
vested with full power to adjust the exist
ing difficulties, negotiate treaties with the
IA nd
reservations remote from travelled routes
between the Mississippi and the Pacific.
They entered without delay upon the ex-
ecutiOn of their trust, but have not made
any official report of their proceedings IL
Is Of vital importance that our distant
boundaries should be exempt from sudden
outbreaks, and that the construction ofthe
Pacific Railroad an object Of national i'm
portance, should not be interrupted by
hostile tribes.
These objects, as we'll as the material
interests and moral and intellectual i'm
provement Of the Indians, can be most
effectually gained by concentrating them
upOn portions Of country set apart for their
exclusive use, and located at points remote
from highways and encroaching white
settlements
THE PACIFIC RAILROAD.
Since the commencement Of the second
session Of the ThiTty-ninth Congress, five
hundred snd ten miles OF road have been
constructed on the main line and branches
of the Pacific railroad. The line from
Omaha Is rapidly approaching the eastern
base OF the Rocky Mountains, while the
u terminus of the last section of constructed
road in California, accepted by the Gov
eminent on the oath of October last, was
mt eleven miles distant from the summit
of the Sierra Nevada. The remarkable
Senergy evinced by the COmpanys officers