Burlington weekly free press. [volume] (Burlington, Vt.) 1866-1928, 1869-12-10

PR E = - FIR 1 ID 4 y
pas,. the entire plblc debt GOULD be paid in ten
yesrs But it Is not desirable that the people
should be taxed TO pay it in that time Year by
year the ability TO psy the Tax increases in
raoid ratio, but the b1Edsii oi ihleT,@t u1zhi 10
be reduced as rapidly o- rioJ, sitbcut
the violation Of contract In- .aic d-bt =
represented In great pa u, ngu'is. having
from five TO twenty and froai lei. ~ forty YEAR,
to run, bearing interest at the rs,e OF per cent.
and five per cent respectively. h is optional
with the Government to pay these bonds at any
feriod, after the expiration Of the iirs, time
mentioned upon their face. The time has al
ready arrived when a great part of them may
be taken up, and IL rapidly approaching when
all may be- Ii is believed that those which are
due may be replaced by bonds bearing u rate Of
interest not exceeding four and half per cent.
and as RAPIDLY rs the remainder become due
tina; they NOV rc replaced in the same way To
accomplish this IL mty he necessary 10 author
ize The interest g. paid ~ either Of three or
four money centres Of Europe. or 10y any as-is-
taut Treasurer Of the United States AZ the option
Of the holder # the bond suggest this sub
81 for the consideration Of Congress, and also
simultaneously with this The proprety Of redeem
ing our currency. rs before suggested, NJ It's
market value at the time the law goes MO eject,
increasing the rate at which currency viii b.
fought and sold from day to day. or week to
week at the same rate of interest as the ioysru-
uent pays upon its bonds.
The TAxEs
The subject Of tariff and internal taxation will
necessarily receive your attention. The reye-
uues Of the country are greater than the require
ments, and NAV, with 81 ETY., be reduced: but
the funding Of the debt in four or four and
d half per cent loan would reduce the annual
interest, justifying greater reduction Of taxa
ton than would be now e-peiieut. suggest
= postponement of this question until the next
meeting Of Congress. IL may be advisable 10
modify he taxation and tariff in instances where
. unjust OF bur!ensome Determinations are made
by the present laws; but Il general revision Of
tie laws regarding this subject | would recon-
mend the postponement Of for the present
also suggest the renewal Of tie Tux on i'll
: comes, bu, at reduced rate, say . per cent,
! this tax to expire in three years. With the
/ funding Of the national debt suggested, |
{ feel safe il saying that the taxes and revenues
, from inpos;s may be reduced safely from sixty
10 eighty millions per annum at once and may.
. he still further reduced from year to year IA
: the resources of the country are developed
The reports Of the Secretary Of the Treasury
shows the receipts Of the Government for the
fiscal year euiing June Both, 1863, to be $780,
Fi5, ~, and the expenditures, including III
teres-, oOuutes, Gc., 20 be S32l ,49u, ~.
The estimates Tor the ensuing year
are more favorable TO the Government and will
no doubt, show much larger decrease of the
public debt. The receipts IA the Treasury be-
yond expenditures nave exceeded the amount
ne 'essary 10 place u the credit Of the sinking
fund as provided by aw To lock up the surplus
in the Treasury and Withhold II from circula-
ton would lead 10 such a contraction Of the cur
rency as 10 cripple trade and seriously affect
the prosperity Of the country Under these cir .
cumstances, the Secretary OF the Treasury aid
myself heartily c0ncurIed in the propuety OF
using all the surplus money IN the Treasury IN
the purchase Of government bonds thus reducing
the interest bearing debt Of the country. and OF
submitting 20 Congress the question oil the dis
position to be made OF the bonds SO purchased
and the bonds now held by she Treasury,
amounting 10 about 50, 10000 Including those
belonging 20 the sinking fund. recommend
tina, the whole be placed TO the credit Of the
sinking fund.
Your attention Is respectfully invited 20 the
recommendations Of the Secretary of the Treas
airy iur the creation Of the office Of Commi>-
sllner Of Customs; the revenue; for the increase
Of salary % certain CLASSES Of officials and their
substitutes; OF the increase Of national bank
c.rcul ton, 20 replace the outstanding per
cent ceruicale-; and m.st especially 60 bis
recommendation for the repeal Of the las, allow
ing the shares Of fines. penalties. Nc TO officers
of tine Government or 10 in'ormers
Tue office Of Commissioner q the Internal Rev
euue }. Que % the most arduuus aud responsible
under the Government. Ii fall, tut little, n
any, short Of a cabinet position IN IFS importance
ami responsibilities ! would ask for j; there
fore, such legislation as in your Judgment VIII
place tie officer on a footing OF dignity commen-
-1s4'e with its importance, aud with the charac-
Ter lai publications Of the class Of men rcquir-
"a O. Do It properly
cruA
4. Che Ju.tel States is the freest az al ma
j'..- so too us people sy mplthizc With all PEE
r...- .jru-g,u. for liberty aud self Government
5-. Wilde -o syluuaihiz.ns it is due 10 our hon.
0r rb4f We abstain from enforcing our view.
-..u uuwi..u. nations. and from taking nr
interested part. without invitation. 800 the quar- !
I,.- tween iitlereut nations 90 between gov
ornaments and their subjects. our course Should
always he 10 conformity With stri.- iu>tic. 4af
Jaw. international and loc.. such has fe,u
the paicv q the adm uistratiou IL dellinrwith
these questions For more than a yc.r nya.u-
ahis province Of Sgiin. and A hear uei-hbs-of
ours. in which AL our ueorlc c.auo; but Zee, . g..
.orp interest. h4, been struggling for ini,reuI-
y ! 81 .
af the States entertain the same warm feelings =
lud symuat1ir, for the people Of Cuba in their 3
pending struggle. that they manifested through
Iut the previous struggles between spain AMI =
l.r former colonies. 10 behalf If the latter.
Iilt the contest has NJ 10 time assumed the con- .
i.tiors which amount 90 a war in the sense II I'll
ut.-u.uou.l Law. or which would SNOW tt.
existence Of . political organization Of the .
insurgents ,uti ent To Justify recognition Of =,
i,lir.rencv The principle .s ma.nrlirei. how +,
EVER. tina. this nation i. Il, own iuire when d, D..
.,sord the rights Of be.iicerencv. either TIA u
leople struggling e. free themselves from . =,
Government they believe 20 b. ornr,.,ive 5r d, a.
ilcpenieut na,i.u- AZ var with each other :
The Uni,ei states has not a disposition TO inter :
ERE. with the existing relations Of Sptin 10 her Z
flouial uos.e>siou. on this Continent They b.. %
ete that In due time Spain aui other Europeau
over, will fud their interest in termiustiu,
aese relations. and establishing their present n
cpendencie- as inleuendeut powers. members Of d.
3, family or nations. 90 be no longer REGARDED NJ
s subject o. transfer from one Eurouein power h.
% another. When the pr,seu; relation Of colon EN-
ceases. they are to become independent pow 10
rs. exercising the right Of choice and OF self oh
lntral s.
10 the determination of their fu Their relations F,
18th other powers the United States. in order 10 ri;
m st'.. =. ti,,'i.l,.j -, Cnt, al IT, -, ~
7't 90 ''iN''i'ii'i va 'uHt hlf'i 100 tue iI- IN
re,, of urirhholiu. poEers proposed their good 81
hce- Go bring the existing contest TO tcrmua- St,
on. The office 10, being accepted. this claim. ut
% the basis winch We believed could be alyau- III,
ee2as 10 both parties was Withdrawn lt Is he
lpei tha; the good Offices Of the nited States
ay yet prove advantageous for the settlement Of
.s uuhanp- strife Meanwhile = number Of
legal expeditions agsins' Cuba have been brok- tn
up II has been the eudesyor Of the Admin du
'rtuon 10 execute the neutrality laws In good IN
ilh' no matter how unpleasant the task-maie 90
ga. We IA, eNiu'ei ~ 1ue l.o" 6,l
| i''n 'o"''i "a ~ 1'Hel Hs.ous ba
'''' ~" % i'i0n i'S'' TUE n'''u ov's' ION
- ~ vs. '''',''i %" tue "'7"- re
'ul," i''sH'o anu ~" PAS'vlse'' ,f.
-tA from u ana carried as prisoners 10 tuha