The Albany register. [volume] (Albany, Or.) 1868-18??, 1868-12-19

e.eSooue VI tHeir questionable character.
One hundred millions yearly are expcnd-
ca TOT the military force, large portion
OF which is employed in the execution of
laws both unnecessary aa[ and unconstitution-
al. 1900, 900 are required yearly to
pay the interests on the public debt An
army of tax-masters impoverishes the ma
ton, and public agents ere placed by Con-
gress beyond the control of the Execu- I
tive, and divert from the legitimate pur-
poses vast sums of money which they |
collect from the people in the name of
the Government. Judicious legislation |
| and prudent economy will only remedy
these doings and avert an evil which if
suffered to exist cannot fail to diminish
confidence in the public council and weak
en- the attachment and respect of the peo-
pie toward their political institutions-
| Without proper care the small balance
which it is estimated will remain in the
Treasury at the close of the present fs-
cal year will not be realized, and addition
al millions will be added to deot which
is now estimated by billions. It is shown
by the able aud comprehensive report of
the Secretary of the Treasury, that the
receipts for the fiscal year, ending June
30sh, were s4o5,638, ,o83 80, and that
the expenditures for the same period
were 1877 ,240, ,2s4 leaving in the Treas
ury surplus of s28, 1897, ,799. 1t is esti-
mated that the receipts during the pres.
ent fiscal year, ending June 30th, 1869,
will be $341 1892 ,S6S, and the expendi-
lures 1926. 50 40, showing small bal
ance of SIS, ,240 1893 in favor of the Gov
ernment. For the fiscal year ending J une,
1870, it is estimated that the receipts will
amount to 1927 100000, and the expend-
itures to S3O4 600, 900, leaving an esti-
mated surplus of s23, 100000.
It is proper in this connection to make
, brief reference to our public indebted
ness, which has accumulated with such
alarming rapidity and assumed such col
lossal proportions. In 1889, when the
Government commenced operations under
the Federal Constitution, it was burdened
f with an Indebtedness of SIS, ,000, 600,
f created during the war of the Revolution.
E This amount had been reduced to s45,-
900 600 when. in 1912, war was declared
against Great Rritain. The three years.
: struggle that followed largely increased
t the national obligations, and in 1916 they
v had attained the sum of Sl27 ,000, 900.
!. Wise and economical legislation, however,
e enabled the Government to pay the entire
y amount within period of twenty years.
Q and the entinguishment of the national
e was one of the greatest events Of President
" Jackson's administration. After its re-
l. dempton large fund remained in the
e Treasury, which was deposited for safe
n keeping with the several States, on con
9 dition that it should be returned wher
IF required by the public wants. In 1S49
d the year after the termination of an ex
= pensive war with Mexico we found our
s: selves involved in debt S64 100000, anc
e this was the amount of the debt of the
Is Government in 1860, just prior to the
i outbreak of the rebellion. In the sprins
n of 1861 our civil war commenced; eacf
10 year of its continuance made an enormous
st addition to the debt. When, in the sprins
r. of 1865, the nation successfully emerged
0. from the conflict, the obligations of th'
o., government had reached the immense sun
y of S2,S73, 1892, 900. The Secretary o
"a the Treasury shows that on the LIST day o
as November, 1867, this amount had beel
e1 reduced to 50, 191, ,504, ,45O; but at tn
= same time his report exhibits an increas
~ during the past year of s35, ,625, ,1O2, fo
of the debt on the 1st day of November las
. . is stated to be 81, ,527 ,129,552. It is es
% timated by the Secretary that the return
i for the past month will add to our liabil
"a ties the further sum of Ia, ,0OO, 900, max
Mt ing a total increase DUNG 13 months c
RI SAC, 100000. In my message to Congress
at Of December 4, 1865, 1t was suggeste
ed that policy should be devised which
s without being oppressive to the peopl'
II would at once begin to effect a reductio
,e- of the debt, and, if persisted in, dischars
Far it fully within a definite number of year
ed The Secretary of the Treasury forcibl
he recommends legislation of this characte
ed and Justly urges that the longer it is d
M layed the more difficult must become
he accomplishment, we should follow the wi
Of precedents established in 1871 and l81
ne and without further delay make provisi.
,ed for the payment Of our obligations at
90. early period as may beIpracticablc. -
nd fruits Of their labors should be enjoy
the by our citizens rather than used to bui
% up and sustain moneyed monopolies in Q
90 own and other countries. Our forei
TO- debt is already computed by the Secre
zeal ry of the Treasury at $3.50 900, 900. G
we zens of foreign countries receive int
no. est upon q large portion Of our SCI
telv rites and American taxpayers are ma
as to contribute large sums for their suppo
.ars The idea that such debt is to beco
am permanent should at all times be disca
res ed, as involving taxation too heavy to
II. borne. The payment once In sixte
IN years at the present rate OF interest, mai
hns- an amount equal to the original sum.
war this vast debt is permitted to become ?
mill manent and increasing, it must eventua
that be gathered into the hands of few 9
-. enable them to exert dangerous and c