The Evansville journal. [volume] (Evansville, Ind.) 1866-1870, 1868-01-09


long address. He reviewed the pOlit-
ilcal history Of the country from the
close of the war to tn present time.
severely deu1uncing the Ssh Con-
gress, and attr buting to its action the
ills that the country now suffers under.
The negro came in for liberal share
of his eloquence.
After giving digest of the Secre-
tary of the Treasury's statement for
the last quarter, he spoke as follows:
Ofthat sum- locked up in the Treasury.
about one hundred mi lions in gold and
silver. When the public expenditures in
currency are SO large as at present, it Is
not unreasonable that there should accu-
mulate in the Treasury hirty-eight million
dOliarS-buC when to meet the Interest on
the public debt, the salaries of our foreign
Ministers. and oJner coin demands upon
the Ire tSury, expenditures are made 0u-
ring the year. of about one hundred and
fifty million dollars, it IS most unreaSOn-
aoie that the accunulatiOns of gold and
silver should remain for many months at
above one hundred millions; and it is an
EVIL that Is felt in all the veins and arter-
les of our business and trade. This is an
evil, the origin of which must be ascer-
tanned and removed; for, had that hun
ness of the country, we would not expert
ence the present paralysis.
1t is as il one-sixth OF the blood were
taken from mans body, and he was re-
quiz ed ~ perform as much labor as before,
Some have supposed the Secretary of the
Treasury res pOns BILE, but that view is not
just. for he cannot avoid this result, under
existing laws, without the exercise of dan
gerous powers. Under existing laws the
uutieS on mpOrtS bring into the Trea> ury,
in coin, from ore hundred and seventy-six
to one hundred and ninety millions per
annum. The Secretary can not make it
less. for he must collect the liked rates
upon all goods brought through our ports
When in the Treasury the coin cannot be
paid out only according to law. To pay
demands
the Treasury according to law, there Is re-
quired from one hundred and forty-two to
there is constantly accommodating in
the Treasury at the rate of
twenty-six millions to forty millions
per annum. Some suppose the security
should dispose of the accumulations by
public sale; a most Objectionable mode,
distracting to legitimate commerce, dis
turbinE values, and dangerous to the in
fegrity of the puolie service. The remedy
is a plain one; IT, is TO return to the policy
of Andrew Jac1SOni to collect from the
people only so much money as is required
for an economical administration OF the
Cove rnment Daring the last six years
ShamHIul advantage has been taken or
tn Peep g. whilst tneir attention was di-
rected TO the prosecution OF the war, and
the political questions attending its close.
the tariff. has heen so adius ed as TO tax
imported goods to enormous rates, and
thus enn bic our manufacturers to charge
c esDonding rates, and realize cruel
pr fts Il ON the consumers.
with gold and silver to excess, and TO par
alyze Western trade. industry and enter
prise; aud all this mat capital invested in
manufactures might have unequal and
unJu-t returns. For illustration l will re-
fer o but one act. 1t was passed on the
"a OF March lat. and is found on pages
1876. and of the pamphlets laws of the
last Sc sion of the Thirty-uinth Congress.
Al The time he gold Accommodations were
about one hundred million, ana the Secre-
tary was being severely censured on that
account, yetAhe little to the act was. 9 to
provide increased TeUe1Ue from imported
wool, anu for other purpo Ses. !" To conciit-
are The wool growers The first sect on i'm
poses duty on foreign wool of ten TO
twelve cents per pound, and from ten TO
the qua ity; bat to compensate the
manufacturers, the second section
imposes a duty Of six cents per square
yard, aad in addition thereto thirty-five
per cen. al CdL0cem on women's and
CHI idren's dress goods composed wholly or
In part OF wool, anu valued AT no. exceed
inS twenty ceA.S per square yard. That
has been the law during the past simmer
AT ii fall, while gold has been above forty
per cent. prem um, and has added to the
accommodations in the treasury, and added
largely TO the profits Of the person. en-
thIs country; but what has been the ef-
feet upon tie mechanic and farmer in In
dana who has bought for his family2
suppose the square YARD TO cost AT tne
custom house in New York sixteen cents
VIM viii II cost the consumer in Indiana?
Specific tax ...-......-.-. 8 5.
Ad VdiOreIn duty .......................... 50 90
Premium on gold at f. cts, .......... 40
-Ie cts.
The tax and the premium on the gold IN
which ii is paid just equal the cost of the
goods, sixteen cents, and il comes into the
importers house IN New York costing
him thirty two cents. He adds his profits,
and the retail dealer charges profit, and
il costs the farmer or mechanic IN Indiana
above forty cents. Is not the remedy
plain one? Stop the excessive
flow into the Treasury ami the accu-
mu tation there by reducing the duty,
and thus cheapening the goods to the con-
sumner.
The report of the Secretary of the Treas
ury shows the facL that for the year end
ing June 30 last, the expenditures for the
War ID spartme mt were Ssi5, 22i.4l5 81, ana
during he first quarter If TINS fiscal year
$50 037, O66 S5-beinZ at the rate of Sl22, 49,
II 40 per annum-aud showing an increase
OF eXpenditu reS over last year at the rate
part of he hul den he people are now car
rylng TO maintain five armies in the
southern SsttvSAo SUPPRESS CIVIL auInOI1ly
AM maintain N l1tary government, in
violation ofJhe Constitution.
l suppose our entire military force does
not now exceed sixty thousand men, the
regiments then Deing thoroughly Differed.
| regret l have not the report of the War
Department at command that might
speaS accurately on this subject. II be
correct in the estimate of our IOrce, then
our expenditures are above the rate Of
two thousand dollars for each officer and
man ia the service, and the army alone is
co ting rs about forty millions more than
We're the entire expenditures of the Gov
ernmCnt under Mr.. Buchanan's adj
miaist alton. even Tor the year when
ne perpefrAtet he huge folly of
an slItued rttVas.G9 of Utah. We
are a people q great re oUrces, but not
yet able t. IN ia asi3i "a military establish
meut at Sucl rate o. exp nditure. Our
army ought to be reduced to not exceed
fifty thousand, aid maintained at a cost
not exceeding fifty mtllion-one million
dollars TO each reg ment, and thousand
dol ars to each man-and thus save above
nifty million dollars each year for the dis
charge OF our debt. OF the enormous eX-
PEI di ures that are now eating nut the