Wilmington daily commercial., 1872-12-03

hOnB our GDhSl WOulu Db OF RIbA6 NhluB III hH
times and of inestmable value in case of for
eign war. Nature has provided the greater part
OF this route and the obstacles to be overcome
are easily within the skill of the engineer.
REDUCTION OF THE DEBT.
Tie receipts into the Treasury during the fiscal
year ending June 30th, 1874 were 1914 LOG, S07.-
56 which, added to the balance on hand at the
close of the previous fiscal year, aggregated in
available each, S484, ,042, ,573.15. The total net
disbursements were S377 475 216 q, leaving a
balance in the Treasury Of @lO6 564, 356.94. In
cluded in the above disbursements were Sl06,-
9l5 $40 80 applied to the liquidation Of the prin-
cipal and interest of the public debt-S99, $780,
81 Of which were applied to a net reduction
Of the principal. Total reduction since March
LIST, 1869, 1858, ,696, 500 81.
NO FURTHER REDUCTION PRACTICABLE
With the great reduction of taxation by the
acts of Congress at its last session. the expendi-
tire of the government i'll collecting the revenue
will be much reduced for the next fiscal year. 1t
is very doubtful however, whether any further
reduction of 80 Yexatious a burthen upon any
people will be practicable for the present. At
all events, as a measure OF justice to the hold
ers of the nations certificate of Indebtedness,
would recommend that no more legislation be
had on this subject unless it be to correct errors
of omission or commission in the present laws,
until sufficient time has elapsed to prove that 1t
can be done and still leave sufficient revenue to
meet current expenses OF the government, pay
interest on national debt, and provide for the
sinking fund established by law. The preserva.
tion of our national credit is OF the highest i'm
pOrtance; next in Importance to this comes a
solemn duty to provide national currency of
fixed unyarylng value as compared with gold ;
and as soon as practicable, having due regard
for the interests of the debtor class, and the
yicissitudes Of trade and commerce, convertible
into gold at par.
THE INDIAN POLICY.
The policy which was adopted at the begin
tfftt ri 20. tla
manag ement of the Indians. has been sue
cessful as its most ardent friends anticipated,
within 30 short time. 1t has reduced the ex-
pense of their management; decreased their
forays III on tn white settlements tended to
give the largest opportunity for the extension
of the great railways through the public domain
and the pushing of settlements into more Ie-
mote districts OF country, and at the same time
improve the condition Of the lcdians. The pol
icy will be maintained without any change ex-
ceptimg such az further experience may SHOW to
be necessary to render it more efficient.
THE NAVY.
II il evident that unless early steps are taken
to preserve our navy, that, in a very few years
the United States will be the weakest nation
upon the ocean, of all great powers With an
energetic and progressive business people like
ours penetrating and forming business relations
with every part of the known world a navy strong
enough to command the respect of our flag
abroad is necessary for the full protection OF
their rights l recommend careful consideration
by Congress of the recommendations made by
the Secretary of the Navy.
THE FRASKING PRIyhEiE AND POSTAL TELEGRAPH
have heretofore recommended the abolition
Of the franking privilege, aud soc no reason
| now for changing my views on that subject. 1t
| not having been fayorably regarded by Con-
gross, however, now suggest modification Of
| that privilege, to correct its glarng and costly
abuses l would recommend also the appoint
mont of committee or commission to take into
consideration the best method equitable to
private corporations who have invested their
| time and capital in the establishment OF tele-
graph lines) of acquiring the title to all the
| telegraph lines now in operation, and of con-
| Meeting this service with the postal service of
| the nation. II is not probable that this subject
| could receive the proper consideration during
the limits of q short session OF Congress, but II
| may be initiated. that future action may be
fair to the Government and TO private parties
| concerned.
| VIOLATING THE AMENDMENTS.
Applications have been made to me to pardon
/ persons convicted of a violation OF said acts,
| upon the ground that clemency in such cases
| would tend to tranqnize the public mind and
| to test the virtue of that policy, am disposed,
al far as my sense OF Justice will permit, to give
| to these applications favorable consideration
but any action thereon is not to be construed az
| indicating any change in my determination to
| enforce with tigor such acts 80 long as the con-
/ spracies and combnati)n )ns therein named dis
| turb the peace OF the country IL ID much 10 De
| regretted, and is regretted by no one more than
myeelf that necessity has ever existed to exc
cute the "enf lrcement act" No one can desire
more than that the necessity of applying it may
never again be demanded.
CIVIL SERVICE REFORM.
During my term OF office it shall be my earn
est endeavor to so apply the rules as to secure
the greatest possible reform in the civil service
of the government; but it will require the direc
action of Congress to render the enforcement oi
the system binding upon my successors, and
hope thai the experience of the past year, to-
gether with approximate legislation by Congress
may reach satisfactory solution Of this ques
ton, and secure to the public service for al
time practical method of obtaining faithful
and efficient officers and employees.