By Free Republic | Created at 2024-12-07 14:46:01 | Updated at 2024-12-23 10:36:59
2 weeks ago
REPORT OF THE SECRETARY OF THE TREASURY; Abstract of the Report of the Secretary of the Navy (12/7/1864)
New York Times - Times Machine ^ | 12/7/1864
Posted on 12/07/2024 6:38:37 AM PST by Homer_J_Simpson
In presenting to Congress his annual report on the state of the finances, in obedience to the requirements of law, the Secretary of the Treasury feels that, while there is no occasion to distrust the ability of the people of the United States to bear the great and increasing burdens imposed upon them by the arduous and prolonged struggle for national existence in which they are engaged, there is nevertheless much in the financial condition of the Government which requires careful and anxious consideration. Among the serious duties devolved upon him, the Secretary recognizes a full and clear exposition of that condition as first in importance, in order that the wisdom of Congress may provide a remedy for existing evils, and guard against the recurrence of similar evils in the future. The Secretary's assumption of office was so nearly coincident with the commencement of the present fiscal year, that he would be naturally impelled to begin by stating the exact condition of the Treasury upon that day. Before proceeding to do so, however, a brief review of the financial measures adopted since the outbreak of the rebellion, and of their operation and effect, may not be without value in endeavoring to arrive at just conclusions with regard to the future.
On the fourth day of March, A.D., 1861, the national debt was comparatively so inconsiderable as hardly to deserve the name. Accustomed to a degree of prosperity heretofore unexampled in the history of nations, the people of the United States had grown rich and powerful without being conscious of national burdens, and equally unconscious of their own vast and increasing ability to sustain a weight which, could it have been anticipated, might have seemed altogether beyond their strength.
(Excerpt) Read more at nytimes.com ...
TOPICS: History
KEYWORDS: civilwar
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Free Republic University, Department of History presents U.S. History, 1861-1865: Seminar and Discussion Forum
The American Civil War, as seen through news reports of the time and later historical accounts
First session: November 21, 2015. Last date to add: May 2025.
Reading: Self-assigned. Recommendations made and welcomed.
Posting history, in reverse order
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Link to previous New York Times thread
https://freerepublic.com/focus/f-chat/4282886/posts
To: Homer_J_Simpson
2 posted on 12/07/2024 6:40:49 AM PST by Homer_J_Simpson ("Every nation gets the government that it deserves." - Joseph de Maistre (1753-1821))
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