The Portland daily press. [volume] (Portland, Me.) 1862-1921, 1869-12-06
WASHINGTON.
REPORT OF GEN. SHERMAN,

WASHINGTON. / -
REPORT OF GEN. SHERMAN. e.
WASHINGTON, Dec. 5.-Gen. Sherman in his
report which will be submitted TO Congress to-
morrow, opposes any further reduction of the
army. He says the entire army is on duty and
he has constant calls for more troops, which
cannot be granted. He calls the Presidents
attention to this matter that Congress may be
appealed to not to diminish the military estab-
ishment any further, because of the great ex-
tent of the country, the unsettled character of
a large region measured southeast and west
by thousands of miles, the nomadic charac-
ter of the Indians who inhabit this region, and
the growing necessity of affording greater pro-
lection to the roads that traverse this region
and the mining and agriculture interests there
in. While the nation at large is at peace a
state of quasi war continues to exist over one
half of its extent and the troops therein are ex-
posed to laborious marches, fights and dangers
that amount to actual war. Withdrawing or
largely diminishing the troops in Texas, the
Indian country, Arizona, New Mexico, Monta-
ma, Idaho or Alaska, as we'll as in some parts
of the Southern States would. he believes, re-
suit in condition of things amounting to an
archy. He refers to the labors and exposures
of the officers and men and hopes that they
will receive the assurances to which they are
fairly entitled, that their labOrs are appreciat-
ed. Officers have been requested to perform
the duties of Indian agents, governors, sheriffs,
etc., foreign to their military training, and have
done this duty without murmur and with
marked intelligence. Never, he says, has he
known the army officers so poor, but they hope
by the appreciation of the currency their COM
pensatiOn will soon become more satisfactory
Any diminution of their pay would result in
the loss to the services of every second officer,
to the extreme damage of the army ITSELF
Gen. Sherman advises the adoption by Con-
greSs of the new army regulations as prepared
by special board of officers. WI
In referring to army consultations he says
there are 500 unattached officers, of whom 156
are awaiting orders. The number of retired
officers are 1T. He urges that cavalry and ar
tillery regiments be differed alike in regimen
tai and company organizations, and asks for an
extra lieutenant for cavalry companies. He
argues that it is unjust that the reduction OF
the army should fall exclusively upon the in.
fantry arm of the service, and recommends
that after Congress has enacted the necessary
laws the President assemble a board of disin-
terested general officers to whom shall be COM
mitted the whole matter of reduction and reor-
ganizatiOn. Gen. Sherman comments upon
what he calls the absurdity of the staff OF the
army making their reports to the Secretary of
War. If this is continued, he says, we have
the absurdity of the General commanding of
the army with his chief staff officers reporting
to somebody else. He hopes for legislation
that will allow officers ofthe army to call upon
tho General for troops instead of the President.
He advocates an increase of pay for the SOL
diers He recommends that the forts covering
the cities of Portland, Boston, New York Phil
adelphla, Baltimore, New Orleans and San
Francisco be completed as soon as possible
He calls attention to the recommendation. Of
Gen. Thomas, that the Seal IsIen1s OF Alaska,
ST Paul onl st. george be sold to the highest
bidder. He is informed that parties in San
Francisco are ready to bid several million dol
lars for them, which he says would go far to-
wards indemnifying the government for an
otherwise poor and costly country.
REPORT OF THE COMPTROLLER OF THE CUR.
.ff RENCY. q Hti'Ft
The annual report of the Comptroller of the
Currency shows 1870 banks in active operation
Their condition is more gratifying than for
merly; the opportunity afforded Spectators to
manipulate the money market is almost en-
tirely done away with and the banks have more
complete control of their affairs. The Comp
troller recommends the passage of a simple act
requiring of all banks that go into liquidation
to deposit legal tender notes for their out
standing circulation, and take up their bonds
deposited with the Treasurer of the United
States as security for such circulation, within
sixty days from the date of the vote of the
stockholders to wind up. He also recommends
that all taxes on the banks be made returnable
and payable to the Treasurer of the United
States, including the special tax and dividend
now payable to district collectors; that the
compensation of bank examiners be increase
and that provision be made for it's assessment
upon the banks examined. and an increase tC
a fair compensation of the persons employed
under him in the currency business. The re-
commentator looking to the establishment oil
| central redeeming agency in New York, con
| tanned in the last annual report, is renewed
| The Comptroller says the legal prohibition tt
| banks to hire deposits is not sufficiently ex
pcit or positive to prevent it, and hints at leg
islation to that end. The Comptroller argue
| in favor of national banking system as tn,
cause of an easy money market and lower rate
| of interest than would otherwise be obtained
He thinks the government circulation which
is not convertible and therefore not elastic
should be Withdrawn and substituted by ma
tional bank notes, which are nominally re
deemable and certainly amenable to the law
of trade. No check or Limitation should b.
| imposed upon the latter, other than the law Q
supply and demand. A self-adjusting system
of currency, he says, is the only one adapte
to the exigeneies of trade and to the wants 9
the country, and it is vital question at thi
time whether this result can be reached befor
| the return of specie payment if possible at a.
| it is only through the agency of the nation
al banks. The machinery of the Gov
And, further, if possible it is so only upo
the adoption of policy which will ten
gradually but surely to resumption q
specie payments. 1t must be gradual dc
velopment of process which shall absorb tn
legal tenders and put in their place pape
currency which shall at all times, and unde
all circumstances, be exchanged for coin
either Of paper legal tenders or of gold or pa
per currency, which shall gradually increase
while the legal tenders for its redemption sha
| gradually decrease in such a ratio as q health
demand for banking facilities may determine
while free banking may thus be establshe
| with safety anterior to specie payments, col
ditional only upon the withdrawal and canoe
latiOn of legal tender dollar for every dolls
of bank currency issued. Free banking upO
Il 1~oa. oil ho f<aIx
safety and without delay, with details properl
adjusted Banks may be established with al
| thority to issue and put in circulation col
| notes, limiting the amount only by the ablit
of the banks to comply with the necessaI
conditions and redeem their issues. BY IL
| establishment of banks on specie basis tt
resumption of specie payments is only antic
| pated, and familiarity with gold values will {
much to relieve the subject of the mystel
with which it is surrounded in the minds
many. Looking forward to the time whe
| uniform values shall again prevail, it may
that by wise legislation now banking syste
can be established truly national in its chara
!. ter and scope, which will furnish sound Gu
reney of uniform value in every State of tt
| Union. 81
INTERNAL REVENUE REPORT.
The report of the Commissioner of Intern
Revenue is long and interesting. The fOllo'
| ing is an abstract of its most important fes
ures:-The total receipts from internal reven
, sources, exclusive of direct tax upon banks,
| duty upon circulation and deposits of ban
for the fiscal year 1869 were $3.50, O39, 344 2
!. this includes $3.50, 2351 u refunded for taxes
legally assessed and collected, all of viii
q was for taxes assessed and collected in pre-
e Gus years. The receipts for the cure
: fiscal year are estimated at $175OOO0OO
A comparison of the receipts for the fls(
years 1868 and 1869, shows gain OF 81 1863
in the first six months Of the latter over t
Q former, and of $26O62Si2 for the last {
- months. The gain on distilled spirits was 8.
$50 522 in the frs: and SIG, 1874, 249 in the latt
: half of the last fiscal year. There was also
gain on tobacco in the last half year of &c
II 844, and on incomes in the first half there "
a loss of 1874, 499, and in the last half of t
year a gain of $2,O83,757. .> -.
A comparison of receipts for six months er
ing Sept. 80, 1868 and 1869, shows gain
1T last period Of $23, 1874 1868. The gain for Il
] period for spirits was 81, 116,S70; tobacco