The Ottawa free trader. [volume] (Ottawa, Ill.) 1843-1916, 1867-12-07

been resumed. all notes or bills of paper is
| sued by either, Of less denomination than
twenty dollars, should by law be excluded from
circulation, so that the people may have the ben
| eft and convenience of gold and silver curren-
cy, 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 possesses
or to obtain what he can honestly earn, has d.
rect interest in maintaining safe medium
such a medium as Shall be real and substantial
not liable to vibrate with opinions, not subject
to be blown up or down by the breath OF specula-
ton, but to be made stable and secure "A dis
ordered currency Is one of the greatest political
evils. 1t undermines the Treasury for the sup
port of the social system. and encourages pro-
pensities destructive of it, happiness 1t wars
against industry, frugality and economy, and it
foster. the evil spirit of extravaganza and specu-
lation.
1t has been asserted by one Of our profound
and most gifted statesmen that OF all contrv-
anceS for cheating the lahoring classes ofman-
kind, none has been more eifectual than that
which deludes them with paper money. This
Is the most cffectual Of inventions to iertilize
rich mems fields by the sweat of the poor mans
brow. Ordinary tyanny-oppression or eN-
cessiye taxation-these bear lightly on the
happiness Of the masses OF the community.
compared with fraudulent currency, and
robberies committed by deprecated paper
Our own history is recorded for our instruc-
ton. Enough, and more than enough of the
dcmoraiizing tendency injustice, and intoler
able appreciation on the virtuo,,s and we'll
disposed of community OF a degraded paper
currency authorized by law. or in any way
countenanced by Government. 1t is one OF
the most successful devices in times of peace
or war, extensions or revulsions, to accomplish
the transfer OF the precious metals from the
great mass OF the people into the hands of the
few, where they are boarded in secret places,
or deposited III strong boxes under bolts and
bars, While the people are left to endure all
the Inconvenience, sacrifice. or decentralization
resulting from the use of deprecated and
worthless paper money
@Fhe condition OF our finances, the operations
OF our revenue system, are set forth ami fully
explained in the able and instructive report Of
the Secretary ofthe Treasury. On the 3Oth OF
June, 1865, the public debt amounted to So
1S3.425,S'9. On the 10Th OF June last. il was
$2.692, 1919. 215- showing reduction during
the fiscal year Of *9l ,2G6,664 During the
fiscal year ending June Both, 1861, the receipt,
were $49O,634 ,010. and the expenditures
$346.I29. l2e; leaving an available surplus of
$l43.9O4, SSl. II is estimated that the receipt,
for the fiscal year ending June 3Oth. 1868.
will be $4l7 l6l ,92s, and the expenditures
will reach the sum of $39a e69, 226 leaving
in the Treasury s,irpu, Of 800. S,2702 For
the fiscal year ending June :ioah, 1860. it is es-
tiniatesi that the receipt, viii amount to $751;
OOO,OOO and that the expenditures will be
$31SDOo.OOO. showing AN excess of $4,000. 100
in favor Of the Government -a
OUR REVENUE SYSTEM
The attention of Congress is earnestly inyit-
ed to the necessity OF !. thorough revision of
our revennc system. Our internal revenue
laws and iinpost system should be 80 adjusted
~ TO bear most heavily on articles OF luxury,
leaving the accessories OF life rs Tree from, tax
alton as may be consistent with the real wants
OF Government economically administered. |
Taxation would not then fall unduly on the |
men OF moderate means. and while none would |
be entirely exempt from assessment. all, in pro- |
portion to their pecuniary abilities, would |
contribute toward the support of the State |
A modification Of tn. internal revenue system.
by large reduction in the number OF articles
now subject to tax, would be followed by re-
suits equally advantageous to the citizen and
to Government. 1t would render the execution
of the law less expensive and more certain:
would remove Instructions TO industry: lesson
the temptation to evadc the law; diminish vi
olations and frauds perpetratcd upon it, pro-
visions: make its operations less nQnisitorial.
and greatly reduce in numbers the army of
tax-Sathcrers created by the system, who take
from The mouth Of honest labor the bread it
mas earned. lseircnchmcnt and economy
should DC carried into every branch of the
puDIlc service. that the expenditures of the
government may be reduced, and the people
relieved from oppressive taxation. \ sound
currency should be- restored and public faith
IN regard to the National debt sacrcdly OBJ |
served. The accomplishment Of these i,npor-
tant results, together with the restoration of
tne Union OF the States upon the principles of
the constitution, would inspire confidence ut
nome and abroad, in the stability OF our insti-
tutlons, ana bring to the nation prosperity,
peace and good will
THE WAR DEPARTMENT. .as -
The report of the Secretary of War al Interim
eNhlDits the operations of the army and the sew.
eral BureauA Of the War Department. The ag-
sregate strength OF the military force On the
5Oth OF September last, WAS 5G3lj The total
estimate Tor military appropriations is 81, l24,
Vo including Il deficiency in last year, uppro-
pr'ation OF sl3GOO00O. Tho payments ut the
treasury on account of service, in the War De-
partneht from January lst to October 29th
LOO LOU, period OF ten months, amounted to Si9-
oo',oOo. The expense, Of the military establish
meht. az the present numbers of the army are
no" three times rs great rs they have ever been
III Times ~ peace, while discretionary gun En- i
vested IN the Executive 10 add millions to this
expenditure by an increase Of the army to the
strength allowed by law.
~, THE INTERIOR DEPARTMENT.
Inc comprehensive report of the Secretary Of
1nc inferior furniShe, interesting information in