--Letter of Mr. Huse.
CHAPTER XIII.
Extracts from my Inaugural.--Our Financial System: Receipts and
Expenditures of the First Year.--Resources, Loans, and Taxes.--Loans
authorized.--Notes and Bonds.--Funding Notes.--Treasury Notes guaranteed
by the States.--Measure to reduce the Currency.--Operation of the
General System.--Currency fundable.--Taxation.--Popular
Aversion.--Compulsory Reduction of the Currency.--Tax Law.--Successful
Result.--Financial Condition of the Government at its Close.--Sources
whence Revenue was derived.--Total Public Debt.--System of Direct Taxes
and Revenue.--The Tariff.--War-Tax of Fifty Cents on a Hundred
Dollars.--Property subject to it.--Every Resource of the Country to be
reached.--Tax paid by the States mostly.--Obstacle to the taking of the
Census.--The Foreign Debt.--Terms of the Contract.--Premium.--False
charge against me of Repudiation.--Facts stated.
CHAPTER XIV.
Military Laws and Measures.--Agricultural Products
diminished.--Manufactures flourishing.--The Call for Volunteers.--The
Term of Three Years.--Improved Discipline.--The Law assailed.--Important
Constitutional Question raised.--Its Discussion at Length.--Power of the
Government over its own Armies and the Militia.--Object of
Confederations.--The War-Powers granted.--Two Modes of raising Armies in
the Confederate States.--Is the Law necessary and proper?--Congress is
the Judge under the Grant of Specific Power.
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