Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1816-10-05
DOMESTIC.
Ocso6er Q.

We have just been informed, that Mr..
DALLAS viii leave this city on Tuesday
the ist OF October next, and that he does
not return as Secretary of the Treasury.
1t is stated TO be his intention to resume
the practice OF his profession in the Courts
OF Pennsylvania, and in the Supreme Court
of the United States.
During the period of this gentlemans
administration the finances, the plans of
the Department, with slight variations,
have received the deliberate sanction of
Congress, and have been stamped with the
general appreciation of the nation. He
may, therefore, contemplate. with an hon
orable pride, his official participation in
the establishment
OF system of Internal revenue, adj
vantageous in peace, and indispen-
sable in war
OF a tariff OF duties on imports, foun-
ded upon principles equally favora-
BILE to commerce., agriculture and
manufactures
OF a national institution, operating to
relieve the con- nlunity from the e.
Wis of deprecated paper money,
and to restore to the government its
constitutional power over the coin
and currency of the nation
OF fund competent to the extnguish-
ment OF the national debt, in the
short period of twelve years.
In the details of the Treasury Depart
ment (Which have been rendered, beyond
all former experience, intricate and per-
picking, by the necessities of the war, the
inadequacy OF the revenue during the war,
the depression of public credit, and the
failure of the national currency Iabori
Gus and systematic perseverance has led
to the most beneficial results. Awaiting
himself of the suspicious influence fpeace,
upon the public credit and resources,
the Secretary, at the moment of surren-
derlng his official trust, appears to have
realized the most sangune anticipations.
Thus,
1. The embarrassmcnts of the Treasury,
owing to the disordered state of the cur
rency, have been so subdued, without the
aid or cooperation Of the State Banks,
that the public engagements can be paid
IN the local currency, wherever they be-
come due, except in the Eastern States :;
and, even there, the measures now OPERA
ting are calculated to restore the capacity
to pay in the local currency, before the
expiration of the present year.
2. The floating debt. consisting of tenn
porary loans obtained by the Treasury.
since the commencement of the late war.
has been paid.
3. The floating debt, consisting of Trea-
sury notes OF all the denominations which
have been issued, has been reduced from
the sum of So, 1924 dollars, the aggre-
gate OF the issues, to an estimated out
standing amount, not exceeding 5000 600
dollars which cannot fail to be dscharg-
ed before the expiration of the present
year.
q. The amount of the funded debt has.
on the one hand, oeen augmented by the
operation of funding Treasury Notes and
on the other hand, it has been reduced by
the quarterly reimbursements of the prin-
cipal of the old stock, as well as by pur-
chases. The aggregate amount of the
public debt, funded and floating, was stat
ed, on the 18th of February, 1916, to be
the sum of 1913 $50. 692 9S
But, on the 1st of Janu.
airy, 1917, (the floating debt
being extinguIshed, and
additional reimbursements
of the principal of the
old stock being effec,ed)
the whole amount of the
public debt will, proUa-
bly,, not exceed the sun
OF 100, 74S.272 II
Making a general re-
duction between the 12;h
of February, 1916, and the
LIST on January, 1917, of
public debt bearing inter-
est, amounting to the sum
OF 1882 APO 90
s. The whole amount of the liauidatel
and ascertained arrearages of the war OK
penditures, has been paid, and ample
provision exists to discharge all the unli-
quidated claims, for supplies and services,
to the extent Of the highest estimates hith-
erto formed.
6. The whole amount OF the demands
upon the Treasury, for the principal md
interest of the public debt, payable abroad
as we'll as at home and the whole amount
of the demand to satisfy the debts con-
tracted in Europe, on account of the
war, are the subjects CT an ample prov-
| SION.
Z The annual surplus of the existing
| rev nue., besides furnishing ample means
| for public improvements. viii enable Con
gress to enrich the sinking fund. 81 as to IN.
sure the extinEushment Of the whole Of the
public debt, in period not exec ediug twelve
years.
8. The public credit stands high. both
| ii Europe and America. The apparent
| Oppression of the public stock and OF trca-
1 II