Democratic enquirer. [volume] (M'arthur, Vinton County, Ohio) 1867-1873, 1869-12-15

To accomplish thii it may become neces-
sary to authorize interest TO be paid at
either of the three or four money centers
of Europe, or by the Assistant Treasurer
of the United States, at the option
of the holder of the bond
suggest this subject for the consideration
of Congress; also, simultaneously with this,
the propriety Of redeeming our currency,
as before suggested, at its market value, at
the time q law goes into effect increasing
the rate at which the currency will be
bought and sold, from day to day, or week
to week, at the same rate of interest as the
government pays upon its bonds.
The subject of tariff and internal taxation
will necessarily receive your attention,
The revenues Of the country are
greater than the requirements, and
may with safety be reduced, but as the
funding of the debt in four or four anda
half per cent. would reduce the annual
current expense largely; thus after fund.
ing and justifyinga greater reduction Of
taxation than would be now expedient
suggest postponement of this question
until the next meeting Of Congress when
it may be advisable to modify taxation and
the tariff in instances where unjust or
burdensome determinations are made by
the present laws, but general revision
of the laws regulating the subject, re-
commend the postponement OF for the
present. also suggest the renewal of the
tax on incomes, but at reduced rate, say
of per cent; this tax to expne in three
years with the funding of the national debt
as here suggested. feel safe in saying the
taxes and revenue from imports may be
reduced safely from 60 to 80 millions per an
mum at once andstill furtherreduction from
year to year as the resources of the country
are developed.
The report of the secretary of the treas
ury shows the receipts of the government
for the fiscal year ending June 80, 1869, to
be $40, 943, ,347 dollars, and the expenditures
including interest bountes, &c, to be
321, 400, 597 dollars. The estimates for the
ensuing year are more favorable to the Gov.
ernment, and will, no doubt, show large de-
crease OF the public debt. The receipts in the
Treasury beyond expenditures have exceed
ed the amount necessary to be placed to the
credit of the sinking fund as provided by
law. To lock up the surplus in the Treas
ury and withhold it from circulation, would
lead to such contraction of the currency as
to cripple trade and seriously affect the
circumstances, the Secretary Of the Treas
, ury and myself heartily concurred in the
propriety of using all the surplus currency
!; in the Treasury in the purchase of Gov
eminent bonds, thus reducing the interest
bearing debt of the country, aud of sub
i mitting to Congress the question of the
disposition to be made Of the bonds so
purchased. The bonds now held by the
Treasury amount to about $75, 900 00C
: including those belonging to the sinking
= fund. recommend that the whole be
placed to the credit of the sinking fund.
: Your attention is respectfully invited TO the
recommendations OF the Secretary OF the
Treasury for the creation Of the Office Of
Commissioner Of Customs and Revenue,
: for the increase OF salary to certain Of
. fcials and the substitution of increased
. National Bank circulation, to replace the
. outstanding per cent. certificates, ant
. most especially to his recommendation fol
70 the repeal of the laws allowing shares o
IL fines, penalties, fOrfeitures, &c. to officer
! Of the government or to infsrmers.
The Office Of Commissioner Of Interna
- Revenue is one of the most arddous anC
" responsible under the Government; it fall
: but little if any short Ofa Cabinet position
. in its importance and responsibilities.
L would ask for it, therefore, such Legislation
y as in your Judgment will place the Office OF
u y footing of dignity commensurate with it:
;, Importance and with character and quail
Il ficatiOns Of the class of men required to fill
it properly. As the United States is tn,
: freest of nlI nations, SO too it!
a people sympalhize with all peoples strug
= Cling for liberty and sef-government; bu
while so sympathizing, it is due to oul
honor that we should abstain from enforc
: ing our views upon unwilling nations, ant
. from taking an interested part, without in
vitation, in the quaTrels between dfferen
: nations or between governments AID theil
, subjects. Our course should always be il
! conformity with strict justice and law, in
: ternational and local. Such has been the
: policy of the administration in dealing
Z with those questions for more than year
Z A valuable province of Spain, and neal
neighbor of ours, in whom all our people
t cannot but feel deep interest, has beer
: strugk ling for indepence and freedom. The
, people and government ofthe United States
entertain the same warm feelings
= and sympathes for the people of Cuba in
their pending struggle that they manifest
e ed throughout the previous struggles be-
4 tween Spain and the former colonies in be-
=, half of the latter, but the contest at nc
: time assumed the conditions which
!. amount to war in the sense of information.
r al law, or which would show the existence
= of de facto political organization of the
=. insurgents sufficient to justify recogni
i ton of belligerency. The principle is
i maintained that this nat on i.
5 its own judge when to accord the right o
d belligerency, either to people struggling
g to free themselves from a government they
j believe to be oppressive, or to independent
. nations at war with each other. The Unit,
I ed States have no disposition to interfere
a with the existing relations of Spain to hel
! colonial posses ions on this continent.
Il They believe that in due time Spain and
Q other European powers will find it to theil
o interest to terminate those relations and es
g tablish their present dependendencies as
independent powers, members of the
= family Of nations, These dependencies ore
If no longer regarded as subj eCt to transfer
il from one European power to another. Wher
1t the present relations of the colonies cease
If they are to becomei independent powers, ex.
o erciSing the right of choice and Of self
# control in the determination of their future
! condition and relations with other powers.
a The United States, in order to put astop to
4 bloodshed in Cuba and in the interest
=, of neighboring people, proposed
. their good offices to bring the existing
0 contest to termination. The offer moi
being accepted by Spain, on basis which
We believed could be received by Cuba, was
3 withdrawn. 1t is hoped that the good of.
! fees of the United States may yet prove
advantageous for the settlement of this
/ unhappy strife. Meanwhile. number OF
illegal expeditions against Cuba have been
D broken up. 1t has been the endeavor OF
: the Administration to execute the neutral
: ity laws in good faith, no matter how un-
! pleasant the task, made 80 by the suffering
we have endured from lack Of like good
} faith towards us by other na-
tons. The United States schoon-