The western Democrat. [volume] (Charlotte, N.C.) 1852-1870, 1867-12-10

notes, Hills the channels of circulation with den,;
| paper Notwithstanding a coinage by our mir,
since ls47 Of $s74.0OOOO, the people are NV anis
gers to the currency which designed for their i
and benefit, and specimens of the precious m,,S
bearing the national device seldom SCI n ryc
when produced to CRAFTY the interes. excited bv
novelty If deprciated paper is to be continue as on
permanent currency of the country, and all our con
to become mere article of traffic and Speculation 20
the enhancement in prce Of all that is
the comfort OF the people, it would be wise ECONOMY
to abolish minis. thus saving the nation the car &
expense accident to such establishments. aud et all nn
precious metals be exported in bullion The time has
come however, when the Government and Na,ionsI
Banks should be required 20 take the most ,fic;,n,
steps and make all necessary arrangements for rrsump
ton OF specie payments at the earliest practcaba
period. Specie payments having been once rcsun,J
by the Government and banks, all notes or bills IS
paper issued by either of a less denomination than
twenty dollars should by law BE- excluded from circp
laon so that the people may have the benefit and con-
venience Of gold and silver currency which in All
their business transactions will be uniform in value nj
home and abroad.
| Every man of property industry every man who
desires to preserve what he honestly or to OBJ
tam hat he can honestly earn. has direct interest in
maintaining safe circulating medium-such medium
shall be- real and substantial not liable to yiho,
with opinions, not subject to be blown up or blown
down by the breath of speculation but to be made sta
ore anu secure dlsordered currency is one of tho
greatest political evils. 1t undermines the virtues ne
crssay for the support of the social system and en-
courages propenses destructive of its happiness; it
wars against industry fiugaty, and economy, and it
|
Ii has been asserted by of our profound and most
gifted statesmen that of all the conrvances for cheat
ing tne laDoring classes of mankind, none has been
more tnectua than that which drludcs them with pa
per money This is the most ectua of inventions IN
ferze the rich mans fields by the sweat of the noor
man brow. Ordinary tyranny oppression, ssive
taxaton-these bear lightly on the happiness of The
mass OF the community compared with fraudulent
currency. and the robberies committed by d.nrrci,,.d
paper Our own history has recorded for our instruc-
uon enough and more than enough of the demoraiz-
ing tendency, the injustice and the ntolerabe opprcs
sion on the virtuous and we-disposed of degraded
paper currency authorized by law in any way coun
enanced by Government" 1t is one of the most suc
cessihl devices. in times of peace or war;
revolutions, to accomplish the transfer of all the mr.
cious metals from the great of the people into the
hands OF the few, where they are boarded in s.cnt
places or depOsited strong boxes under bolts and b,
while the people are left to endure all the
sacrifice, and decentralization resulting from the use of
deprecated and worthless paper money.
The condition of our finances and the operations Of
our revenue system are set forth and fully explained in
the able and instructive report of the SECRETARY of the
Treasury: On the Both of june 1866 the public debt
amounted to $27S3425 s79 on the Both Of Jim, last
it was 50 692, 992I5; showing reduction during the
sca year Of $9I ,226664 During the fiscal year end
ing june 81 1867 the receipts $490 634.OIO and
the expenditures 1916 729.I29 leaving an available
surplus of $I43,9o4es0. 1t is estimated that thu re-
cepts tor the fiscal year ending June 80. 1868 will be
$4l7 1923, and that the expenditures will reach the
sum OF 1898 269 PIG. leaving in the Treasury surpus
of 1923 o92,702 For the fiscal year ending june 20,
loh9 1t Is estimated that the receipts will amount to
Uoo.ooo, showing an excess OF 90UO.0C0 in favor Of
the Government.
The attention Of Congress is earnestly invited TO the
necessity of thorough revision of our few, mn, system
Our internal revenue laws and imp,st systcm sb,uIJ
be so adjusted TO bear heavily on articles of
luxury, leaving the necrssares of life as free from taxa
tlOn as may be consistent with the real wants f tb
Government economically administered. Taxation
"ouid not then fail unduly on the man Of Moderate
means; and while would be entirely exenpt from
assessment all, in proportion their prcunary abili
would town. he f,I,.
A modification of the internal revenue system bya
large reduction in the number of articles now subject
geous to the citizen and the Government 1t would
render the execution OF the law less expensive and more
CERTAIN remove distinctions to industry, lessen the
to evade the law, diminish the violations
and frauds prrperatrd upon its pro Visions make lis
operations less inqusor a and grratly reduce in num-
Drs the army OF taxgatherers created by the SYSTEM
VINO take from the mouth of honest labor the bread it
has earned" Rrrenchment, reform. and economy
Snoud De carried into every branch of the public SCI,
vice. that the expenditures of the Govcrnm mt may be
reduce q and the people relieved from oppressive taxa
hon; asound currency shonld be rcsorr d. and the pub
nc 1ath In regard to the national debt sacrdy observed
he accomplishment Of thu portant rs uits together
.he restoration OF the Union of the States upon tho
principles OF the Constitution. would inspire confidence
At home and abroad in the stability of our institutions
and bring to the nation prosperity, peace and good
The report of the Secretary of War ad interim exhibits
he operations OF the army and of the several BUREAUS
" the " ar Department. The aggregate strength of
' u hIiay ofce, on the oUfh vi September last was
h,5I3 The total estimate for military appropriations
~! lS47O7, including deficiency in last years ap-
OF $I36OO,0UO The payments at the Tras-
ry on account OF the service OF the War Department
rom january j to October 20. 1874 period of ten
nontns-amounted to sos, SU7 900. The EXPENSES of
ne military establishment, as well as the numbers of
ne army are now three times great they have
etn In time OF peace; while the discretionary power is
ested IN the Executive to add millions to this cxprn-
lture by an increase of the army to the maximum
trength allowed by the law
The menacing attitude of some Of the warlke bands
! INDIANS inhabtDg the district of country b,fwr-n
ne Arkansas and Platte rivers and portions Dakota
.'ito'y, required the presence Of large military
'ree In that region. Instgated by real ur
rievanccs the Indians occasionally committed acts of
aToarous violence upon emgrants and our frontier set
enehs; but general Indian war has been proyidrp-
any aVcrted The Commissioners under the act of
YIN july 1867. were invested with full power to ad-
ISL existing difcultits negotiate treaties with the dis
necnd bands. and select for them r.s rvatons remote
ON the travelled routes between the Mississippi and
he racine They entered without delay upon the ex-
uIlon Oh their trust, but have yet made any Off
al report OF their proceedings. 1t of vital impor-
nee that our distant Territories SHOULD be EXEMPT
ON indian outbreaks, and that the construction of tue
acme Railroad, object of national mpors.ce,
louid not be interrupted by hostile tribes f.sc OBJ.
cts, as well as the material interests and the moral
id intellectual Improvement of the Indians can be
ost ehectually secured by concentrating them upon
'rtions OF country set apart for their exclusive use.
~ located at points remote from highways and
lcroaclng white settlements.
Since the commence ment Ofthe second session Of the
hiIty-Nnth Congress, five hundred and ten milrs 1T
al have been constructed the main line and
anchts OF the Pacific Railway. The line from Omaha
rapidly approaching the eastern base Of the Rocky
constructed road in California, accepted by
q Government on the 24th day of October last.