Perrysburg journal. (Perrysburg, Wood Co., O. [Ohio]) 186?-1965, 1869-12-10

may be replaced by bonds bearing rate
ofsinterest not exceeding four and half
per cent and as rapidly as the remainder
becomes due that they may be replaced In
| the sauie way. To accomplish tflisit may
be necessary 10 authorize the interest 10 be.
paid at either of the three or four of the
money centres of Europe, or by any IA;
sistant Treasurer of the United States, at
thqqptigFofNhPyh of the beVd. 4 l
suggest shts st 81 the oSneidefaten
of Con srest; kalSp Spontaneously With
this, she propfietS o1fedeemihE our cpf-
rency g befOte Suggested, at its rhaIket
value, At<he etime thelaw goesitpto eaeo6
increasing the rate at which the currency
will be bought and sold from day to day or
week to week at the batne)rate Of Interest
as the Government pays upon Its bonds.
The subject of the tariff and internal
taxation will necessarily recsiFe yournt-
tention. The revenJfes Of the country are
greater than the requirements, and may
with safety be reduced, but as the funding
of the debt in.afaur or four and . half
per cent: loan would reduce the hnn1all
current expense largely, thus, Aftef ftfhdt'
ing justifying a greater reduction Of tax.
alton than would be- now expedientnI
suggest postponement Of this question
until the next meeting OF Congress. 1t
may be advisable TO- modify taxation and
tariff in instances where unjust or burden
some determinations; are made by the
present laws, but a general revision of the
laws regulating this subject lFeeOmmend,
the postponement OF for the present.
also suggest the renewal of the tax on
incomes, but at a reduced rate, ssy of y
per cent, and this tax to expire in, three
years, with the funding OF the national
debt as here suggested. .r.
Tfeef safe in saying that the taxes and
revenue from imports may be reduced
safely from sixty to eighty millions per
annum at once, and still further reduced
from year to year, as the resources Of the
country are developed. .
The report Of theS Secretary Of tho Treas
ury shows the receipts of the govern
ment for the fiscal year ending June 80,
1869, to be $370, ,943, TAT, and the 'expendi-
lures, including interest, etc, to be $780,
490,69. The estimates ADr the ensuing
year are more favorable to the govern
ment, and will, no doubt, show large de-
crease ofthe public debt The receipts in
the Treasury beyond expenditures have
exceeded the amount necessary to place to
the e-credit Of the sinking fund; asprovided-
by law. To lock up the surplus in the
Treasury, and withhold it from circulation,
would lead to such a contraction Of the
currency as to cripple trade and seriously
affect the prosperity of the country. I'm
der these circumstances the Secretary of
the Treasury and myself heartily con.
CURED in the propriety of using all sur.
plus currency in the Treasury in the pur
chase of government bonds, thus reducing
the interest bearing debt of the country,
and of submitting to Congress the Ques-
ton of the i9posltiontorbe made of the
bonds so purchased The bondsnow held
blythe Treasury amount to about $75 ,000,-
0)0, including those belonging to the sink
ing fund. l recommend that the whole be
placed to the credit of the sinking fund.
Your attentionsis respectfully invited to
the recommendations of the Secretary of
the Treasury for the creating Of the Office
of Commissioner of Customs Revenue !;
for the increase of, salary to certain classes
of ycffciais !; and the substitution df in
creased national bond circulation b re-
place the outstanding per cent. certifi-
Gates, and more especially to his recon-
mendation for the repeal of laws allowing
shares of fines, penalties, forfeitures, etc,
to officers of the governments or to in
formers.
The Office of Commissioner of Internal
Revenue is one of the most arduous and
but little, ifany, short of aCabinet position
iu its importance and responsibilities l
would ask for it, therefore, such legislation
as, in your judgment, win place the office
on'a footing of dignity commensurate with
its importance, and with character and
qualifications of the class of men required
to fill it properly.
AS the United States is the freest Of all
nations, so, too, its people sympathiSe with
all people struggling for liberty and self
government; but while SO sympathising,
it is due to our honor that We should. alb.
stain from enf0rcingt0nr views hponSGR
willing nations, and from taking an inter-
ested part, without invitation, in the quar-
rels between different nations or be-
tween governments and their. subjects.
Our course should always be in conform
ity with strict justice and laN internation-
al and local. Such has been the policy of
the administration in dealing with these
question:. For more than year vain
able province of Spain and near neigh
bor Of ours in whom all our people csn,.
not but feel deep interest," has been stfuR.
Cling for independence and freedom. -
The people and government of the
United States entertain the same warm
feelings and sympathieE for the peo-
gle that they manifested through-
out the previous struggles between Spain
and former colonies in behalf of the latter !;
but the contest at no time assumed the
| conditions which amount to war In the
senses of international law, or which
would show the existence of de fdcsO po-
| litical organization of the insurgents, suf
| ficient to justify recognition of bellieer-
ency. The principle is maintained, how
ever, that this nation is ~ own Judge wheis
to accord the rights of belligerency either
to people struggling to free themselves
| from ? government that they believe to be
| Oppressive, mfto indepeheent nations at
| war with each other. The United States
have no disposition to interfere with the
existing relations of Spain to her colonial
possessions on this continent. They be-
lieve that in due time Spain and other
| European Powers will find their interest
in terminating those relations and estab-
fishing their presept dependencies rs inde
pendent Powers members ofthe fAmily d
nations. These dspendenciee areho oheet
regarded as subject to transfer from one
European power to another. When the
present relation of colonies cease, they are
to become independent powers, exercising
the right of choice and of selfcontrol in
the determination of their future cOndi-
ton aud drelAtipnswith other powers. The
United States'inN efder - pue 4 stop 20
bloodshed in Cuba, and in the interest
OF neighboring people, proffered their
good offices to bring the existing con-
test to termination. The offer
not being accepted by, Spain, ON basis
Ghca we believed could be IHeceiYed by
Cuba, it vas Withdrawn. It Is hoped that
-the good ottlees Of che Omitted States mzy
,Ri9 SsI sE9ys va6S1gsGSs tGE iSs sIs%ept
Eiumber ofillegd expeditions against Caba
have been broker up. 1t has been the pn-
hSpyW ~ t1s eilnt fArat ~ AdkHchte
the neutrality laws In good faith, no mat
TER how UNPLEASANT abe task, EnSdS SO by
the sutieringwe have endured nom lack Of
like.good faith towardi1s by other nations.
The United States schooner Lizzie Major
! was arrested on the high seas BY ) Spanish
-. - Nuara. -. q