Dodgeville chronicle. [volume] (Dodgeville, Wis.) 1862-current, 1867-12-06

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by continuing TO issue irredeemable notes,
fills the channels Of circulation with de-
preciated paper notwithstanding the
coinage by our mint, since 1849, of
S874 GOO, 900, the people are now strangers
to the currency which was designed for
their use ard benefit, and specimens of the
precious metals bearing the national de-
vice are seldom seen, except when pro-
duced to crafty the interest excited by
their novelty. If deprecated paper is to
be continued as the permanent currency
of the country, and all our coin is to be-
come o mere article of traffic and Ispecu-
lation, to the enhancement in. price OF all
that is Indispensable to the comfort of the
people, it would be wise economy to
abolish our minis, thus saving the nation
the care and expenses incidentbto such
establishments, and let our precious metals
b3 exported in bullion -
The time has come when the Govern
ment and the National Banks should be
required to- take most efficient steps and
make all necessary arrangements for o. re-
sumption Of specie payments at the. earli-
est practicable period. Specie payments
having been once resumed, all notes or
bills Of paper issued BY. either of a less
denominat ton than $40 should law be
excluded from circulation, that the people
may have the benefit and convenience of
gold and silver currency, which, in all
their business transactions, will be uniform
in value at home and abroad, Every man
of property or industry every man who
desires to preserve what he honestly pos
sesses or to obtain what he can honestly
earn, has direct interest in maintaining
safe circulating medium, such medium
! as shall be real and substantial, not liable
| to vibrate with opinions, mot subject TO be
blown up or down by the breath Of specu-
| lation, but made stable and secure. A
| disordered currency is one OF the greatest
political evils. 1t undermlnes the supports
| of the social system, and encourages pro-
pensitIes destructive of its happiness. 1t
wars against Industry, frugality and econ
.omy land it fosters the evil spirit OF 7ex-
trayagance and speculation. IT. has been
asserted by one OF our profound and most
gifted statesmen that, of all, contrivances
| for cheating the laboring classes OF man
kind none has been more effectual than
| that which deludes them with paper
money. This is the most Sefectual of in
ventions to Rertiiizeaa rich mans fields by
| the sweat of the. poor mans brow Ordi-
nary tyranny, oppression, excessive taxa
tion,-theee bear light on. the happiness OF
the masses of the community, compared
| with a. fraudulent currency and robberies
committed by deprecated paper. Our
| own history has recorded for instruction
j enough and more than enough of the de-
! moralizing tendency, Injustice, and 'intol-
cradle oppression on the ivirtuous and
(awellsdisposed ofadegadsl paper currency
authorized by law, or in any way counte-
nanced by d Government. at Is one OF the
most successful devices, in times of peace
| or war, to accomplish the transfer OF the
precious metals from the great mass of the
people into the hands of a 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
| Inconvenience, sacrifice and demoraliZa.
ton resulting from the use of deprecated
and worthless paper gmoney.e
- The condition of our finances and the
| operations of our revenue system are Set
forth and fully explained intbe able and
Instructive report OF the Secretary OF the
on June 3Oth, 1866, the public debt
amounted to 2,TS3, 425, $40; on June 30
last, it was So, 692, 100, 215, Showing a
reduction, during the fiscal year, OF $9l,-
226664 -tiaa ~saas sEiit shfaa.stss'
+ During the fiscal year ending June 80,
| 1867, the receipts were $3.50, 634 ,010, and
the expenditures were $346, 729, 129, --leav-
Ing an available surplus Of $143, ,SSl.
| It is estimated that the receipts for the
fiscal year ending June 80, 1868, viii be
| BAIT, 161 1928, and that the expenditures
will reach the sum of .$393, 269, 226, -leav-
| ing in the Treasury g surplus of $23,s92,-
| 702.i For the fiscal year ending June 10,
4 1869, it is estimated that the receipts will
amount to 1881 200, 900, and that the ex-
penditures will be $872, 10000, showing
an excess OF 100000 in favor OF the
| Governments = - hLA
The attention of Congress is earnestly
invited to athorough revision OF cur reye-
nue. system. Our internal revenue laws
and import system should be adjusted SO
as to bear most heavily on articles Of lux
ury, leaving the necessaries of life as free
| from taxation as may be consistent with
| the real wants of the Government. The
| Government being economically admin
istered, taxation would not then fall unduly
onthe man of moderate means; and, while
none would be entirely exempt from as
sessment, all, in proportion to their pecu-
mary abilities, would contribute toward
| the support of the State. A modification
| of the internal revenue, system by o large
reduction in the number Of articles now
subject to tax would be followed by results
equally advantageous to the citizen and
| the Government. 1t would render the
execution of the law less expensive and
more certain, remove distractions to
| industry, lessen the temptations to evade
the law, diminish the violations and frauds
perpetrated under its provisions make its
operation less inquisitorial, and greatly
reduce in numbers + he army OF tax gath
| erers created by the, system, who, take
| from the mouth of honest labor the bread
| it has earned Retrenchment and econo-
my should be carried out in every branch
Of the public service, that the sexpendi-
lures OF the Government may be reduced,
and the people relieved from oppressive
| taxation. 4. A, sound currency, should be
restored, and the public faith in regard TO
the national debt sacredly observed. The
accomplishment Of these Important results
together. with the, restorstiorilo of Union of
The States upon the principles of the Con-
stitution, would inspire confidence at home
and abroad in the stability OF our institu
tions, and bring to the nation prosperity,
peace and good will. Ss saeBayg.
~, 4Es THE ARMY
The report of the Secretary Of War adj
interim exhibits the operations of the
army and the several bureaus Of the War
| Department. The aggregate strength Of
our military force, on the 3Uth of Septern-
Der last, was 56,3t6. The total estimate
for military appropriations is .$77f24, 707,
including adeficiency in last years appro-
priation of 13600000. EAtc 'Ac30&
The nayments at the Treasury on ac-