Evening star. [volume] (Washington, D.C.) 1854-1972, 1916-08-27
FIFTY YEARS AGO
IN THB STAR

the close of the
Mississippi civil war, when
MI the navigation of
O~ AAooA' that river was
resumed and difficulties were encoun-
tered in the control Of the waters. Tho
Star of August q. 1866. said:
The President gave audience. in .
special interview, on the 18th instant,
with Col. J. Edmondston. Judge c.
lizard and others on behalf Of tho
peoples committee on levees of Louisi-
ana Having been introduced by tho
honorables the Secretary Of the Treas
ury and Postmaster General, the COM
mittee were informed by the President
that he would do whatever might be in
his power to promote the interests and
welfare of Louisiana. and that in his
next message he would probably take
occasion to commend to the favorable
consideration of Congress the memorial
Of the people submitted by the commit
struction Of the levees OF that state.
The President concurred with the
committee that in view of the revenue
to be derived andsffe national aid to
be conceded, in the event of the favor
able action of Congress upon the
merits of the memorial and bill al
ready introduced before the House Of
Representatives concerning the levees
of Louisiana, Congress may probably
provide for the establishment of joint
commission on the part of the United
States and OF the state of Louisiana to
supervise the repair and reconstruction
of the levees of that state. With the
requisite national aid. to provide a
suitable system of levee embankment
to protect the fertile lands of Louisiana
from periodical floods of the Mississippi
river, the vast resources of that state
may at once be developed and thereby
produce an important and permanent
revenue to the general government"
Currency problems confronted the
fiscal officers of the government fifty
years ago, as the follow
Treasury lowing paragraph in The
Star of August %, 1866,
Problem. attests:
I'm consequence of the amendments
made to the tax laws by Congress. and
WHICH were unnecessarily ucIcFfeu uH-
til the last days of the session, the sixty
million due to the government from the
people on account of the income tax
could not this year be collected. as
heretofore. in July, when business is
dull and the drain from circulation but
little felt: but was necessarily deferred
until September, when the active fall
trade usually sets in. The anxiety felt
in commercial circles as to the embar-
rassment likely to result from this
cause has been relieved by the official
announcement of Secretary McCulloch
that after the 26th instant all the tenn
porary deposits in the Treasury, except
clearing house certificates, will cease
to bear interest. The effect of this de-
cision will be that the deposits. which
amount to sixty-nine millions, will be
withdrawn before the close of the
month. We agree that this is master
stroke of policy on the part of the
Treasury Department and will add that
1t is but another evidence of the emil
nent fitness of Secretary McCulloch for
the position he occupies. The ten mil
lions of interest due on the first series
seven thirties, is now being distributed
which, with the $7O,000.000 falling due
on the 9th instant, will make $4,000
600 payable out of the Treasury, to off
set the $60.000.000 of income tax, pay
able into the Treasury. thus adding S20.-
100000 to our circulation for business
purposes. 81