Iowa voter. [volume] (Knoxville, Iowa) 1867-1874, 1870-12-15

cude Iii these HON ne service .nisss ss e.
IL the main would s injury 70 Sem and r J,
country. am also fully convinced that any mors
permanent tenure Of Once would materially in
pair the efficiency OF the revenue syssem. There
are many thousand men employed In the
customs and internal revenue service, and how
ever careful the preliminary examination might
wonld undoubtedly exist. No system Of examina.
ton could exclude all those who dishonest, or
who under the pressure Of necessity or the offer Of
wealth, might yield TO temptation. II often hap
pens, and 1t would happen under any system, that
men are found who are honest. temperate. sum
GENTLY capable and yet lack the energy or cour
lava duty which often requires sagacity and
kind Of intelligence too subtle for discovery
qualified should be removed from Office, and this
without an Investigation. which, indeed. might
furnish nothing tangible in justification Of the act
tricts, branch Of the service will fail to meet
just expectations, although no dishonesty may BE-
fraceable to any person connected with the office
In such cases the interests Of the gov.
eminent demand . change. and a chance
must be made without the hearing OF the parties
thai PC ey u N this
great. lie probably exaggerated in the public mind
II Is true that there are more applications for an
hs ~, 70 once In the deparment than can be
qualified. who could pass any proper examination i,
not usually very large. Outside the department
the number Of applicants for the local services does
not often exceed three or four to each Office and
occasionally there are not more than two who ara
really 80 presented az to be considered in connec
ton with the appointment In justification OF The
present tenure, and, az proper recognition Of ths
services or ofncers and clerks employed in th. de-
upon the whole, IL not only done in eatisfactor,
manner, but that 1t will compare in accuracy snS
effciency with the business Of the country gener
ally which Is carried on by corporations or ina
viduals.
:, In my annual report In December last advised
the continuance OF the existing system TAXATION
as an essential condition. required by the proposed
loan. The circumstance that war was declared
PEI France and Prussia simultaneously with
power OF the departm ent to make negotiations a
had been expected. The large revenue, however,
Of the government. continuing without material
abatement until the present time, improved the
credit Of the country and enabled the Treasury
Department. by weekly purchases. to reduce the
contributed to depreciatc the market value OF
gold. also expressed the opinion that the settled
policy Of the country should contemplate a reve-
nue. 1h sufcent to meet the Ordinary expense. Of
and from S25 900 600 to ZOO O0o of the principal
annually. The reduction Of the public debt since
render it certain that the total reduction for the
present fscM year will exceed SEQ 900. The nat
ral increase Of the business Of the country during
the next eighteen months is likely to be such to
show a surpln. for the fiscal year ending june 30,
1872. Of about 600 The principal OF the
public debt on thellast day Of November. 1870 not
deduciing MONEYS o on a ham, am ~ was -
United States notes and fractional currency not
bearing interest The banks of the country, acting
within the authority Of existing law, viii require
about S3a3 600 of bonds to be placed deposit
security for their circulation. Should the pres
ent system OF furnishing paper circulation for the
country partly by the Treasury and partly BY Ma.
be furnished by the Treasury or by the banks, the
credit OF the United States will be secured for the
redemption Of notes From this view of the policy
100000 OF the public debt will remain unpaid. ex-
listing either in the form Of treasury notes in crcu
aon without out, interest 81 in bonds owned By
their notes, and that only about 81 800 900 Of
the principal of the debt is subject to payment.
The financial prospect, although highly favorable,
is not such as to warrant important changes In the
revenue system at the present session OF Congress-,
but should the result during the coming year meet
my expectations, 1t will be possible at the De-
cember session of the Forty-second Congress- to
make very material reduction in revenues with
out impairing the ability of the government to
make satisfactory payments of the public debt.
The reduction already made ha. been ad advantageous
to the country, not only in the particulars indicated,
but In other respects hardly less important. There
event since the conclusion of the war has contrib
uted SO much to the diffusion of republican
opinions In France. The spread OF these
opinions stimulates emigration from Europe, and
at the same time prepares the way for the estab-
lshment of free institutions on that continent.
Nor can there be any doubt that the policy of ac-
cepting Of the debt as permanent would retard en-.
igration from Europe, especially the reading and
rejecting classes. Whatever arguments may DO
adduced. or whatever theories may be advanced,
the fact must ever remain that the public debt o
public evil 1t is especially burdensome TO tho
abOrng classes and it Is therefore in their inter
ssts to provide for the constant reduction of the
existing national debt. This policy will not pre-
vent such changes In the revenue system from time
to time, as will equalze the inevitable burdens OF
our present condition, and, within comparatively
short period, taxes may be removed from many ar
ticles of prime necessity. 1t IL an Oc-
casion Of satisfaction that no other ma
ton ever passed through great
war with SO slight shock to industry and bust
ness Specific Information and general intelli-
gence from various parts of the United States
show that all classes, and especially the laboring
classes in the enjoyment of more than the
average prosperity, whether tested by experience
in this country or by the present condition Of
other nations. No reason can be found, however,
in the favorable condition of public and private
affairs, for neglecting any proper measure for
equalzing and diminishing the burdens Of taxation,
but 1t does justify the statement that the nation
can make provision for the public debt in the many
ways recommended without embarrassing industry
or retarding it's progress. [Signedl
GEO. g. BOUTWELL,.
Secretary Of the Treasury.