The weekly Panola star. [volume] (Panola, Miss.) 1857-1881, 1870-12-24


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Haf. Hant arc nHi ~ nHuefHHs 81 % fepHye che
fIre n te know ledge derived from experience.
HH iff other hand. fte Introduction ~ new men
s.'rna additional energy ard eneeufY
Eanona rofsrED OFT
Two affrfs prevail Doc fhu rommunIiy lH c0nncc
I1n with ibo subject One g., That uudrr q Rapab.
I-ln f1-crumeHf, every man haa % H-hi iu an
udl.0 TtIa T. n no sonrc irno. The Only n1hti-
flai ~ tbo people 10 elect. aud ~ have appointed
f7 uNlte. per-1us hest qualified 20 perform The
cork The other error 2 ihat offices in the Treas.
Department are p-i1e' which the young men
" PIE country may wisely seek. Speaking geuer-
ally, M j. ami-fortuuc for ~ young man who pos
4csses even ordinary capacity for business or labor
'l remain permanently In me public Offices ~ this
riy. lt j, however, true that many Of the most
clerks On the Treasury are Young men
completed their courses, remain from one
10 four years IN the department. with the purpose,
py Industry and economy, ~ securing q small
amount " money With which ~ commence active
life elsewhere A system Of life tenure would ex.
'ludr on these men from the service, unless they
'hoosc 10 accept Il ~ a permanent pursuit, which,
no The main, would be- an ininty 10 them and to the
country. am also fully convinced that any more
permanent tenure Of Office would materially i'm
l1ir the efficiency Df the revenue system. There
are many thousand men employed In the
Nustoms and Internal revenue service, and, how
careful the preliminary examination might
be-, NE evils which now impair their efficiency
would undoubtedly exist. No system Of examina.
non could exclude all those who are dishonest, or
VINO, under the pressure Of necessity or the offer Of
wealth, might yield to temptation. II often hap
leus, ana II would happen under any system, that
men are found who are honest. temperate, sufi-
'lently capable, and yet lack the energy or Cour-
lec essential TO the enforcement Of the revenue
ava duty which often requires sagacity aud a
Sind OF intelligence too subtle for discovery
formal questions. Men who are thus nm
should be removed from Office, and this
without an investigation, which, indeed, might fur
llsh nothing tangible In justification Of the act.
30, too, in the Custom House or collection districts
! branch OF the service viii fail to meet Just expec.
ations, although no dishonesty may he traceable
any person connected with the Office. In such
'ases the interests of the government demand a
change, and q change must be made without the
of the parties concerned. | may be war
ranted In saying, in this connection, that the evil of
)niee-secking, although great, Is probably exagger.
'ted IN the public mind. 1t Is true that there are
more applications for appointment to Office in the
department han can be met, but the number Of ap
.plicants who are well qualified, who could pass any
proper examination, IL not usually very large.
Outside the department and in several States and
districts OF the country, the number of applicants
Tor the local services does not often exceed three
or four to each office, and occasionally there are
not more than two who are really 30 presented as
TO he considered in connection with the appoint
ment. In Justification of the present tenure. and.
a. q proper recognition Of the services of officers
ana clerks employed In this department, | express
the opinion that the business, upon the whole. is
only done In o satisfactory manner, but that it
VII, compare In accuracy and efficiency with the
business or the country generally which is carried
on by corporations or individuals.
TAXATION.
In my annual report in December last, I advised
the continuance Of the existing system Of taxation
as an essential condition, required by the proposed
loan. The circumstance that war was declared
between France and Prussia simultaneously with
the passage Of the Loan bill, put 1t sut of the
or the department to make negotiations, as
had been expected The large revenue, however.
o. the government continuing without material
until the present time, improved the
credit OF the country, and enabled the Treasury
by weekly purchases, to reduce the
amount of surplus bonds offered for sale, and
contributed to depreciate the market value of
gold. | also expressed the opinion that the settled
policy OF the country should contemplate u rete-
nue. sufficient to meet the ordinary expenses of
the government, pay the interest on the public debt
and from s25,00O,6OOto $SO,0OO,OO O Of the principal
annually. The reduction of the public debt since
the 3Oth day OF June last has been SO great az to
render 1t certain that the total reduction for the
present fiscal year will exceed $50, 100000. The nat
nral increase OF the business Of the country during
the next eighteen months il likely to be such as to
show a surplus for the fiscal year ending June 10.
1872, OF about Si0,000,000. The principal Of the
pubic debt on the last day of November, 1870, not
deducting moneys on hand, was S2,4lS, GT3,0I AZ.
OF this amount 1895, 900, 23T. 0S was represented by
United States notes and fractional currency not
bearing interest. The banks of the country. acting
within the authority Of the existing law, will require
about $685., 900 900 Of bonds to be placed on deposit
as security for their circulation. Should the pres.
ent system Of furnishing paper circulation for the
partly by the Treasury and partly by Ma
tional Banks be continued, or the entire circulation
be furnished by the Treasury or by the banks, the
credit OF the United States will tc secured for the
VI HuAtrs IlpiH tilb NItN VI lWt UNliCN
the country 1t follows that an amount of $780,
100000 Of the public debt will remain unpaid, ex-
lstlng either In the form of treasury notes In circn-
latlon without interest, or in bonds owned by
banks and held as security for the redemption Of
their notes, and that only about 81 ,600,t 0,000 of
the principal Of the debt IL subject to payment.
The financial prospect, although highly favorable,
IL not such as to warrant important changes In the
system at the present session Of Congress,
but should the result during the coming year meet
nv rNnpcfntinug u will ba pnoafh1a NJ tho Ia.
cember session Of the Forty. second Congress to
make a very material reduction in revenues with
out inpalring the ability of the government to
make satisfactory payments Of the public debt.
The reduction already made has been advan.
tageoue to the country, not only In the par
indicated, but In other respects hardly
less important. There is much evidence tending
TO show that no other event since the conclusion
OF the war has contributed so much to the
diiusion OF republican opinions In France. The
spread of these opinions stimulates emigration
from Europe, and ut the same time prepares
the way for the establishment of free institutions
on that continent. Nor can there be any doubt
that the policy Of accepting the debt as perma-
nent would rctard emigration from Europe, espe.
oially The reading and rejecting classes. What
ever rguments may be adduced, or whatever
theories may be advanced, the fact must ever
remain that the public debt Is a public evil. 1t is
bnrdensome to the labor'ng classes,
and It Is therefore In their interests to provide for
the constant reduction of the existing national
debt: This policy will not prevent such changes
In the revenue system, from time TO time,
az Will equal re the inevitable burdens OF our
present condition, and, within a comparatively
period, taxes may be removed from many ar.
ticles Of prime necessity. II Is an occasion OF sat.
that no other nation ever passed through
a great war with so slight a shock to industry and
b~usinoes, Specific Information and general inielli
gence from various parts Of the United States show
that all classes, and especially the laboring classes,
are in the enjoyment Of more than the average
prosperity, whether tested by experience in this
country or by the present condition OF other ma.
tons. No reason can be found, however, in the
condition pf public and private affairs.
for neglecting any proper measure for equalizing