The daily dispatch. [volume] (Richmond [Va.]) 1850-1884, 1867-12-04

SON states that the circulating medium
amounts to nearly 800, 100000 in national
bank notes and legal tenders. Before the
war it was only s2oo,OO0,Ooo. The present
currency could not probably purchase
more than half its amount in gold. Con.
gress is urged to take such steps as will
promptly enhance the value Of the paper
circulation to equality with gold. e., the
resumption of specie payment.
The message complains of the invidious
distinction made by the Government in
paying its creditors-to one class (bond-
holders), gold others, greenbacks. They
should be all paid in the same coin.
The message enters into an argument to
show that paper money drives coin out of
the country, and the only way to retain
the latter is by enforcing specie payments.
For the fiscal year ending June 80, 1867,
the excess of revenue over disbursements
was sl43,904,s9O. The public debt has
been diminished during the year by the
sum of s0l,226,664. The debt at the end
of the fiscal year, in June, amounted to
1852, 1925. The message estimates a
surplus of s23,s92,7o2 for 1863, and OF
s9,000,00O for 1869. We suppose the esti-
mate to be based on present taxation.
Congress is urged to revise thoroughly
the revenue system. Articles Of luxury
should bear the chief burthens, and neces-
! sarcs should be left as free from taxation
as possible. Retrenchment and reform
should be carried into every branch Of the
public service. The accomplishment of
these results, with the restoration of the
Union on the basis Of the Constitution,
would inspire confidence at home and
abroad.
The present military force is 56,315 men,
and the estimate for military expenses, in
cluding last years deficiency, is ST ,l24,-
7O7 (more than three times the whole an
nual Government expenditure under the
second ADAMs).
The Indian war is referred to, and the
policy Of removing the Indians to new
homes remote from our highways is re-
commended.
OF the Pacific railway five hundred and
ten miles have been completed since the
last Congress.
During the year LILA acres of public
land had been sold.
The amount paid to pensioners during
the year is sl8,Gl9,956 and 36,4S2 names
have been added to the pension list. The
entire number of pensioners on Goth of
June was l55, 5,47G.
OF patents, II ,G55 were issued during
the year.
Of 23S vessels composing the present
navy, Sc, carrying j07 guns, arc in squadron
service. The number Of vessels in com
mission have been reduced twelve, and
there are Is less Oh squadron duty.
The Post office Department is repre-
sentcd as in good condition its receipts
increasing, and its communications, cspe-
cially with foreign countries, extending.
Receipts during the year, sl9 ,97S, ,693 ex-
penditures, sl9,235, ,4S3; surplus, S743, ,2l0.
Mexico is spoken of as engaged in re-
establishing her constitutional system.
That Republic only wants peaceful habits
to secure to her people prosperity. That's
deal more than Mcxicans soon will ac-
quirc.
The Paris Exposition is noticed, and
certain claims Of Spanish citizens which
arc demanded in gold are commended to
the attention of Congress.
No arrangement has yet been reached
for the settlement Of the Alabama claims
against Great Britain. The United States
have declined arbitration. But the Pre-
sideDt has no apprehension tina: England
will refuse to satisfy those claims, which
involve the sacred principle Of non- inter-
yention.
The Congress is informed of the treaty
with Denmark for the purchase Of the
islands of St. Johns and St. Thomas, Of the
Virgin group of the West Indies, and the
reasons therefor. Their attention is also
called to the necessity to provide for the
payment of the purchase money for the
territory of Alaska from Russia.
Congress is invited to declare the ma
tional will as to the right of expatriation-
of a citizen to absolve himself from allie
glance to one Government by swearing al
legiance, in due form, to another-with re-
ference to the claims Of European king
domS.
The message concludes by recommend
ing discontinuance of the force for sup
preston of the slave trade under the
agreement with England as being no