differ, it seem; upon the questions concerning the manners which the Government shall use their credit.
Some are giving to the Government the exclusive right to issue a currency to the extinction of bank paper.
It is quite certain that the banks will not accept the Treasury pain of buying Treasury notes for their circulation, simply because they have not capital enough to do so.
It is estimated that the amount of revenue necessary for the Government, if the war should cease on the 1st of July next, will be two hundred and fifty millions a year including a military and naval peace establishment, and the interest on the public debt, and a small sinking fund.
The whole sun must be raised by taxation, direct and indirect, and, it is believed, that even the loyal States can sustain it. With a taxation of two hundred and fifty millions, a treasury note circulation of like amount would be supported, and it is contended that it will stimulate industry and afford facilities for busine
ts of engineers and riflemen, making 11,175 infantry, 4,744 cavalry, 4,308 artillery, and 107 engineers, being a total force of regulars of 20,334 men.
The volunteer corps.
The immense force which goes to make up the volunteer regiments of the United States army may be explained to the reader by the following statistics, made up in part from the archives of the War Department as well as from private sources, which we give as follows: The number of three months men in the field up to August 1st was 77,815.
The number of volunteers for the war is 640,637, which includes many of the three months men. Of this force, there are 557,208 infantry, 54,654 cavalry, 20,380 artillery, and 8,325 riflemen.
Of the States furnishing the largest number of troops, Pennsylvania stands first, having furnish 107 regiments of troops; New York, 100; Ohio, 81; Illinois, 80. New Mexico and Nevada have furnished the smallest in number, each of them sending only 1,000 men. Little Rhode Island has sent f
House of Representatives. Monday, March 17, 1862.
The House met at 12 o'clock, and opened with prayer by Rev. Dr. Doggett. The Journal of Saturday was read.
Hon. Mr. Gentry, of Tenn., appeared and took the oath of office.
Mr. Curry, of Ala., offered a resolution that Congress adjourn on the 31st day of March, and convene again on the 1st Monday in July.
Mr. Royston moved to amend by striking out the time for meeting.
Mr. Conrad moved that the resolution be laid upon the table.
Motion not agreed to.
Mr. Dupre moved to amend by inserting the first Monday of October instead of July, or to be convened by the President here, or at such other point as he may designate.
Mr. Conrad moved to amend the amendment by striking out all after the word President.
Mr. Davis moved that the resolution and the amendments be laid upon the table.
Motion adopted.
Mr. Curry gave notice that he would present a similar resolution to-morrow.
Mr. Royston m
the subject; which was agreed to.
Mr. Sparrow, from the same committee, also reported favorably upon House bills to organize a signal corps and to increase the artillery corps of the army, and unfavorably upon the resolution to appoint cooks for companies in the army.
Mr. Mitchell, of Ark, from the Committee of Postal Affairs, reported a bill on behalf of the committee to amend the act regulating the postal arrangements of the Confederacy, and providing that, from and after the 1st of July next, the post on single letters, weighing not more than one-half ounce, shall be ten cents, to any portion of the Confederate States; for every other additional half ounce, or for letters weighing above half an ounce, an extra postage of ten cents shall be charged.
The bill was ordered to be printed.
Mr. Semmes, of La., announced that the Committee on Flag and Seal were not ready to report the design of a national ensign, as had been promised on to-day.
The delay was owing t
l, then Mr. Lincoln is to proclaim general emancipation as a military necessity.
The Secretary of War says that the increased transportation required by the advance in the enemy's territory has increased the war expenses to five millions per day — more than the printing machine has the power to supply.
The tax bill is an awful affair.
It will raise an enormous amount of money or destroy a vast amount of business--one or the other.
It will pass Congress.
The public debt by the 1st of July will be $1,500,000,000. That is the calculation of the chief Auditor of the Treasury.
I think it is short of the reality.
The public really know little of the true condition of the finances.
They will find it out hereafter, when they are called upon to pay the interest of the public debt.
The principal no person expects will be paid.
As I have seldom failed in my predictions of the future, as I think your readers will bear me witness, I will now make another, that this war will e
Death of an officer.
--Col. Wm. G. Gill, lately connected with the Arsenal near Augusta, Ga., died last Monday morning, at Columbus, Miss.
He was, according to the Army Register, a native of New Jersey, and appeared from Pennsylvania.
He was a graduate of West Point, and was brevetted Second Lieutenant the 34 U. S. Artillery, July 1st, First Lieutenant of the 4th Artillery, Jan. 9th, 1851. On the breaking out of hostilities between the North and the South be took part with the latter, received an appointment in the Artillery and Ordnance Department, and was stationed for a time at the Arsenal near Augusta.
Subsequently, he was transferred to Gen. Beauregard's staff as Chief of Artillery and Ordnance.
His less will, doubtless, be felt by the gallant army with which he was connected.
evenue of eighty millions, provided business revives and the Union is restored.
Sixty millions, after making all allowances, are expected from it — making an aggregate annual revenue of one hundred and eighty millions, besides the land and income taxes of the last session.
Cotton manufactures, under the tax bill, will pay a three per cent. ad valorem duty; while raw cotton will pay half a cent a pound.
It is stated by Eastern mill owners that all the mills will cease to work by the 1st of July for the want of stock at any price.
But some of them are so sanguine of the future as to believe that cotton will now come freely from Southern ports, and that of the crop of last year, amounting to nearly five millions of bales, three-fifths will escape the torch.
Others again calculate upon only one million of bales from the gathered crop, and another million from the succeeding crop.
It is reported, with probability, that the money seized at New Orleans by Gen. Butler, as th
Rates of postage.
--From and after the 1st of July next, the rates of postage will be as follows: For every letter not exceeding half an ounce in weight conveyed in the mails for any distance within the Confederate States, there shall be charged ten cents. And for every additional half ounce in weight, or additional weight of less than half an ounce, there shall be charged additional single postage.
of the river — reinforcements.
The Petersburg Express of yesterday has the following intelligence, which is of much interest:
We have reliable information that a portion of McClellan's army sought safety in flight as far back as Monday afternoon. This we knew Monday night, and so stated yesterday, but further confirmation of this retreat is furnished in the following communication which Col. Pannill, the Provost Marshal of this city, has kindly furnished us:
Drewry's Bluff, July 1. To Col. Wm. Pannill, Provost Marshal:
Capt. Upshur reports from Bermuda Hundreds on James river, at 11 o'clock last night, that the enemy (or a portion of them) was in full retreat; that their gunboats were near Shirley, on the Charles City shore, endeavoring to protect the retreat; that the Galena and two other gunboats had tired 200 shells into ranks, as they supposed, but that our forces had pressed the enemy hard, and he could hear fearfully rapid musketry firing until dark; that
The war in the Southwest. Mobile, July 1.
--A special dispatch to the Tribune, dated Grenada, 25th ult., states that Northern papers of the 25th say that Buell was advancing on Chattanooga, and that Morgan (Yankee) was simultaneously advancing on Knoxville "for the relief of East Tennessee."
A dispatch to the Chicago Tribune says that Gen. Hindman's (Confederate) army in Arkansas numbers from 25,000 to 30,000.
The Yankee General Curtis is being reinforced.
Jackson's Tennessee cavalry burnt fifteen hundred bales of cotton, last Thursday, within twelve miles of Memphis.
The vote in the municipal election at Memphis was small.
No responsible person was a candidate for office.
Jackson, Miss., June 30.--Gen. Chalmers has taken Bolivar, Tenn.
Col. Tappen, of Arkansas, says that Gen. Hindman, with 30,000 men, has Curtis completely cornered.
The State is blazing with excitement.
The battery at Duval's Bluff commands White river, and is supported by 5,000 Confede
