Virginia Argus. [volume] (Richmond, Va.) 1796-1816, 1815-12-23
9,294,044 SO


9,234,04 SO
Having thus absorbed portion of the treasu-
ny note debt, and deainng the treasury to be pos
sessed of a sufficient supply ofthe local curren-
cy OF the places at which the treasury notes, I'M
subscribed and IN arrears, were payable by law,
except in the cities or New,Ycrk aud Boston, the
secretary of the tea ury proceeded to assign
funds for the payment OF the tref sury notes, and
to give notice thereof, in the form OF the annex.
ed copies, (marked respectively III. and ID in
pursuanceof the act O. congress, passed on the
Sd of March, 1915 AS sufficient supply of thei
local currencies of Boston aud New-York, had
not been obtained, the overture was made in tha
same notice. to discharge the treasury notes pay
able in those cities and in arrears, by accepting
them IN subscriptions to the loan, at the rate of
IS per cent by exchanging them for other trea-
sury notes, in which the interest due should be
included as principal; or by giving drafts for tha
amount upon any of the banks, IN which the goo
vernment possessed funds This overture is
still open to the consideration and acceptance
OF the holders OF the treasury notes in question
and it has been accepted, in the shape of SUBJ
scriptions TO the loan, TO considerable extent.
Since the 30th of September these amount, nclu-
ding some subscriptions, the details of which
have not yet been completed, to more than two
millions of dollars.
OfMe trGnsisr Of balances Of approximations and
oFrevstrue from 1914 to 1915
In the administrator of the finances, it has
been the practice to consider the demands and
supplies of each year, as, distinct subjects foE
legislative provision, independent of the balances
OF appropriations, or ofrevenue, existing at the
close of the preceding years. The same course
will now be pursued, but with few explanatory
remarks. TEe annual appropriations, have never
been entirely absorbed, during the year for which
they were made; and the credit gwen, by law
for payments in every branch OF the revenue, me-
Al
amount OF duties which accrues within the year.
As debt 10 the government; and the amount
winch rs paid, within the year, rs money into the
treasury. The annua! appropriations, however,
are not charged upon the revenue of the year,
specifically, IN which they made and in
point of fact, they are satisfied whenever demands
ed out of ahy unappropriated money IN the trea-
sury without reference to the time, when the
revenue accrued, or when the money was actual.
ly received at the treasury
The inconvenience Of continuing appropriate
ons IN force, which were liable to be drawn from
the Treasury during an indefinite period, nduc.
edcongress to enact in the year 1895. that any
appropriations Except permanent appropriations
for the interest of the funded debt, or appropris
atoms for the payment of loans, and the aecruine
interest /; for the Sinking Fund and for purpo-
poses, which specially require by law longer
duration) remaining unexpended for more than
two years after the expiration of the calendar
year in which the act ofaPprOPrlation was passed,
SHOULD cease and determine and that the unexs
pended sum should be carried to an account ON
the books ofthetreaSurys to be disseminated "the
Surplus Fund" BY the operation of this provi.
sion no ordinary appropriation can now survive
the specified period Of two years and notwith.
standing the formal designation of a particular
account, in which the entry shall be made the
sum dlsengaged by the determination of each D.
preparation, becomes again an undIstingushable
part ofthe public treasure, which is subject to
the future dispositions of the legislature.
With these remarks it will be useful, for the
purpose of general information to exhibit the
gross amount Of the balances of appropriations
for the year 1914 transferred to the year 1915,
without entering into comparative detail of the
appropriations, and of the revenues, during the
particular year, in which the appropriations were
made by law. Thus,
The gross amount of the ape
preparations for 1914, IN
GLIDING the aggregate Of
the balances Of apprOpri-
atoms for the year 1914 a.
mounted TO the sum Of f5.o78,464. u
OF this there
was paid on
or before
the 31st of
Dec. 1914
the sum Of 3S,O2s,23o %
and on the LIST
ofJan. 1915
there was
carried to
the Surplus
Fund the
sum Of 592,3O9 90
----9s,62o,s so 81
Leavingas general balance
of the appropriations of
1814payable Al the treasu-
~ in 1915 the sum Of 1885,, 923 SO
-----
Ofais demGHds me Treasury for 1915.
The demands authorised by acts of appropria.
ton during the year 1915 exclusive of certain
indefinite appropriations, the amount Of which -
notyet ascertsned) were the following -
For civil, dplo-
matte and mis-