Burlington weekly free press. [volume] (Burlington, Vt.) 1866-1928, 1868-12-11

diminished, and the continuance Of useless and
extravagant expenditures will involve us in 4
national bankruptcy, or else make inevitable an
increase of taxes, already too onerous, and, in
many respects, obnoxious, on account of their
inquisitorial character.
One hundred millions are annually expended
ior the military force, a large portion of which
IS employed in the execution of laws. beth
unnecessary and unconstitutional One hundred
and fifty millions are required each year to pay
the interest on the public debt An army of tax
gathers impoyerishes the nation, and public
agents, placed by Congress beyond the control Of
the Executive, divert from their legitimate mr.
poses large sums Of money which they collect
from the people, in the name Of the government.
ludicious legislation and prudent economy
can alone remedy the defects and divert the evils
which, If suffered to exist, cannot fail to diminish
commence IN public councils, and weaken the at
tachment and respect of the people towards their
political institutions Without proper care. the
small balance which it Is estimated, will remain
in the Treasury at the close Of the present fiscal
year viii not be realized, and additional millions
be added to a debt which is now enumerated by
billions
FINANCIAL STATISTICS.
1t is shown by the able and comprehensive re-
port Of the Secretary Of the Treasury, that the
receipts for the fiscal year ending june 50. 1865
were S405, SOS 0o3, and that the expenditures for
the same period were S377 $40, 2S4, leaving in
the Treasury surplus Of SIS, 297, 79S. Ii Is
estimated that the receipts during the present ifs
cal year, ending June 30, 1869, will be S34l,-
49,, SIS, and the expenditures $3.50. l52, 40.
showing a small balance Of Sj.240. 39S in favor
Of the government. For the fiscal year ending
June 80, 1870, il is estimated that the receipts
viii amount to 1927 900 900, and the expendi-
lures TO 500, 900 eco, leaving an estimated sur
plus Of 50 100000 Il becomes proper in this
connection to ma brief reference to our pub
lie Indebtedness, which has accumulated rapidlv
and assumed such colossal proportions
In llo9, when the Government commenced
operations under the Federal Constitution. il was
burdened with an Indebtedness Of $1,000. 600.
created during the war Of the Revolution. This
amount had been reduced to $4,000, 900. when.
IN lSl2, war was declared against Great Britain.
The three year, struggle that followed largely
increased the National obligations. and in 1876
they had attained the sam Of SIP. 900 .OOG.
Wise and economical legislation, however, en-
abled the government to pay the entire amount
within period OF twenty yeirs, and the extin-
punishment Of the National debt filed the land
with rejoicing, AMI was one Of the great events Of
President Jacasou's administration. After its
iei1Il'l t''fi " iAl = tuul itiAalhtu ID inc llea-
sary, which was deposited for safe keeping with
the several State, co condition that it should be
returned them when required by the public
wants,
TIE DEBT.
,5..
lu 'i' 80 N N1leI tue termination OF ar
val WIN ''eAi''' we louhd ourselves
II. II. N'yS ia ''"'V' ana ms Nss
INV 1'i.'''l'' '"ei ny 'le Government IN IooO'
10 ,.' Sie su.-'I''e gi 'Ae rebellion IN
- 80. 80 ~ Gu" war commenced
-. >', Nl'4e an enormous
go ' H. ~ '"v PING
the conflict, the obligations q tie Government
hal reached the immense sun If -. So 800 90
gu2
The Secretary Of tis Treasury shows that On
the first day Il November. lss7. ibis amount
has been reduced To- ~2,4sl ,lU4.450. but az the
same time hi- report exhibit, au increase during
the past ycar ot -35.625. lp3 for the debt on
the first day ot November las: IS stated 20 hlyc
been S2,257.l 29, DO + IS estnultel boy the
Secretary that the returns FIR tie pas. month
viii aid 60 our Halliir. re further sum Of
I'll .0lOOlo. masking % total inerea., during
the thirteen moaths. Of fartv-siz and q half mil
lions dollars. lu my mess. re- 60 Congress Of
Dec. 1th. ie3j, il was suggested that policy
should hc devised by which. without being op-
-.... -. .... o.. Ella. .....-l d.