The New Orleans crescent. [volume] (New Orleans, La.) 1866-1869, 1868-12-10

4
most efficient steps and make all necessary ar.
TaDgemeDts for resumption Of specie payments.
| Let specie payments once be earnestly inaugu-
| rated by the government and banks and the value
of the paper circulation vould directly approx.
mate specie standard.
Specie payments having been resumed by the
government and banks, all notes bills of paper
issued 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 a gold and silver currency
which. in all their business transactions will be
Uniform 10 value al home and abroad. Every man
of property or industry every man who desires 10
preserve what be honestly possesses or to obtain
what he can honestly earn, has direct interest ia
maintaining safe circulating medium, such me-
dunn shall be real ana substantial, not liable to
vibrate with opinions, not subject TO be blown up
or down by the breath of speculation, but 70 be
made stable and secure,
A disordered currency is one of the greatest
political evils. IL undermines the virtues neces-
ssry for the support OF the social system and en-
courages propensties destructive of its happiness
IL wars against industry, frugality and economy,
and It fosters the evil spirits of extravaganza and
speculation. IL has been asserted by one of orr
profound and most gifted statesmen that " of all
the contrivances for cheating the lsboring classes
OF maDkiDk, none has been more effectual than
that which deludes them with paper money"
This is the most etectus of inventions to fertilize
the rich mans fields by the sweat OF the poor mans
brow: Ordinary tyranny, oppression, excessive
the mass of the community compared with
fraudulent currency and the robberies committed
by deprecated paper. Our own history has re-
corded tor our instruction enough, and more than
enough OF the denioralizng tendency, the injustice
and the intolerable oppression on the virtuous
and well disposed Of a degraded paper currency
authorized by law, or in any way countenanced
by government. II is one of the most successful
devices in times of peace or war; of expansions or
revulsions, to accomplish the transfer of all the
metals from ~ ma Of
into the hands of the few, where they are hoarded
IN secret places, or deposited under bolts and
bars, while the people are left to endure all the
inconvenience, sacrifice and Generalization result
ing from the use OF deprecated and worthless
paper.
The secretary Of the interior, in his report
gives valuable information in reference to the
interests cOnfided to the supervision of his depart
ment, and reviews the operations of the land
office, pension Office, patent Office and the Indian
bureau. During the fiscal year ending June 3d.
1865, $685. 200 acres Of public land were disposed
OF. The entire cash receipts of the general land
ONCE for the same period were 81 ,632 7l5, being
greater by $2s4 .ss3 than the amount realized
from the same sources during the previous year.
The entries under the homestead law cover 1928 1923
acres, nearly Onefourth Of which was taken under
the act of June Il, 1866, which applies only to
the States OF Alabama, Mississippi, Louisiana Ar
kansas ard FlOrids. On the 30th of June. 1868.
one hundred and sixiy.nine thousand six hundred
and forty-three names we're borne on the pension
rolls, and during the year ending on that day the
total amount paid for pensions, including the ex
peDses of disbursement, was s24. OIO, $50, being
s. 39l OPS greater than that expended for like
purposes during the preceding year. During the
year erding the Both of September last the ex-
pense of the patent office exceeded the REGENTS
by one hundred and seventy-one dollars, and in
GLIDING reissues and designs, fourteen thousand
one hundred and ffty-three patents were issued.
treaties with various Indian tribes have be en-
Concluded and will be submitted to the Senate for
ifa fnfin 4 Is.Il-
stpulstons which provide for reserving lands for
the various tribes where they may be encouraged
to abandon their nomadic habits and engage in |
agricultural and industrial pursuits. This policy.
naugurated many years since, has met with signal
success whenever it has been pursued in good faith
ana with becoming liDerality by the United States
The necessity for extending it as far practical
BILE in our relation with the aboriginal population
IS greater than at any preceding period. Whilst |
We furnish substance and instruction to the In.
iians and guarantee the undisturbed enjoyment Of |
heir treaty rights, we should habitualiy insist |
npon the faithful observance of their agreement |
. remain within their respective reservations.
This is the only mode by which collisions with /
md the safety of our frontier settlements Sc
,ured.
The companies constructing the rail way from
omaha TO Sacramento have been most energeti-
ally engaged in prosecuting the work, and it ia
believed that the line will be completed be-
ore the expiration of the next fiscal year. The six
yer cent. bonds issued TO these companies amour
ed on the 9TH instant to 81, 1897 900, and addi-
Iopsl work bad been performed to the extent of
:, 200, 900. The secretary of the interior in An.
Just last invited my attention to the report of
government director of the Union Pacific Rail-
DAD Company who had been especially instructed
o examine the location, construction and equip
lent Of their road. submitted for the opinion Of
be attorney general, certain questions in regard
o the authority of the executive which arose
pom this report, and those which had from time
0 time been presented by the commissioners ap-
ointed TO inspect each successive section of the
York. After carefully considering the law of the
ase, he affirmed the right of the executive to
rder, II necessary, thorough revision of the
ntire road; commissioners were thereupon ap-
ointed to examine this and other lines, and have
ecently submitted statement of their inyestl-
atoms, OF which the report of the ,secretary of
ne interior furnishes specific information.
Inc report Oh the secretary OF war contains in.
OF interest and importance respecting
re several bureaus OF the war department and the
peratons OF the army. The strength of our mill.
ny force on the 30th September last was forty |
ght thousand men, and it is computed that by
e nrst OF January next this number will be de-
eased to forty-three thousand. 1t is the opinion
the secretary of war that within the next wear |
considerable diminution of the infantry force |
ay be made without detriment to the interests of
e country, and in view Of the great expense az.
noiDg the military peace establishment and the
'solute necessity OF retrenchment wherever it
- |
IN the reduction which bis report recommends.
hile 10 1850 l62 200 men cost the nation $l6,472-
o, the sum of sG5 ,6s2, 900 is estimated as nsces
~ for the support of the army during the fiscal
ar ending June so, 1870. The estimates of the
ar department for the last two fiscal years /
ere, for 1867, 1854 46l, and 1858, I
. ,2O5,669, while the actual expenditures during
e same period were respectively, s95, 2244t5
d 3l23 246 GAS. The estimate submitted In | Z
'cember Last for the fiscal year ending June /
, 1869. was $77,l24, 707. The exendtares for I
e first quarter ending the 3Oth OF September q
i were f2T,2l9,ll7, and the secretary of c
. treasury gives sixty-six million dollars '
the amount which will probably be re- {
ired during the remaining three-quarters, q
there should be no reduction of the army, max
! It's aggregate cost for the year considerably +
excess of Dinety-three millions The difference h
tween the estimates and expenditures for the c
zee fiscal years which have been named is thus II
'wn to be sl75, $780, 43 for this single branch of
public service. | n
The report of the secretary of the navy exhib- 9,
The oPsraiions OF that department and of the e.
y curing the year A considerable reduction n
The force has been efected. There are forty \ G
vessels carrying All guns In the six squadrons
ich are established in different parts of the | w
rid. Three Of these vessels are returning 10 | o.
United States, and four are used as store .
ps, leaving the actual cruising force thirty.fye L
sells, carrying $50 guns. The total number OF n
q in IA =.