Alexandria gazette & daily advertiser. [volume] (Alexandria [Va.]) 1817-1822, 1820-04-22

q submitted, whether it's not more tor Inc
interest of the United States to- authorize the
treasury to transfer to the surplus fund the
balance of the sinking fund, which may re-
main unexpended on the 3Ist December,
1890, than that the same should remain IN the
Treasury unemployed.
The unexpended balances OF the sinking
fund are transferable (under the existing
laws) to the surplus fund, two years erthe
calendar year Tor which the appropriations
have been made, in like manner as all unex-
pended balances for other objects OF expen-
diture are transferable.
The proceeding statement shews, thai the
expenditures authorised by law, Tor the year
1920. will exceed the receipts into the
treasury, of that year, ths sum OF 3,773,-
4e8 IS dolls. that sum may be reduced to
I.485 DOL Sc dolls. by the application OF the
balance of {, 988, 497 20 dolls. which will,
apreeably to the proceeding view. remain
unexpended of the sinking fund OF the LIST
January, 1921. In recommending the ap-
plication of the surplus of the sinking fund
! 10 the current expenditures of the present
year, your committee deprecate rccur-
renee TO like resort in future years, il the
same can, with any propriety, be avoided;
and it is hoped that such retrenchments will
be made in the public expenditures, as
NAV render recurrence to that .und unne-
cessaTy.
A resort to treasury notes, TO meet the
deficit appeared to your committee lnexpe-
dent. Such notes could not. IN their opl-
Mon, become medium, unless the banks
should be AUTHORISED to tender them in pay
mept for any demands made on those IN
slitutions without such authority, Treasn-
sur, notes would be sold and bought in the
market, for the purpose Of paying the public
dues and, when paid into the bank could
be considered by the bank only as special
deposit of the treasury on which it would
not be bound to pay either its own notes
or specie.
happening to your committee inexpedl-
(, emit to resort 10 treasury notes, and 1t beng
impracticable, if no objections existed against
the adoption Of such course, to carry into
! effect syssem Of internal duties. ia time
to meet the deficit Of the present year, your
committee had only to choose between loan
of temporary character and one OF longer
duration. They have preferred the latter !;
because it carries the time beyond that in
which other debts are payable and, be.
cause it is believed that the loan will there,
by be obtained on decidedly better terms,
than ON one OF a shorter duration. BY au-
thorising the subscription OF the Mlsss-
sippi stock, of Which two thirds must other
wise be redeemed during the current year,
il is inferred, that little new debt will be
! created. Comfortably with those views.
the committee respectfully submit a bill 10
authorize loan of 9 900 900 dollars,
| The committee have deemed it useful 10
| present view Of the probable receipts Tor
the year 1891, and of the expenditures,
which, under the existing laws, are lndis-
pensably chargeable thereon. They have
iounaed their statement of expenses on the
appropriations actually made for 1890; and
have shown, that thereirom variety OF i
TENS, amounting to 1855, 100 dolls. which
will not be required Tor 1891, may be de-
Quoted at the same time, they are ready
to admit, that new and unforeseen demands
may arise, which may show that too much
reliance ought not 10 be placed upon an ex-
pectation OF an expenditure less than that OF
the current year. The view for 1921, is
founded on the Indispensable expences, and
| does not include the amount of principal,
which the commissioners OF the sinking fund
are bound 10 purchase. if the same can be
bought at or under par. Taking that view
the estimates Of receipts and expenditures
will be shown by the following statement, to
i.wit:
Perm anent expenditures DlI,37s,975
Temporary 1856 ,o34
De4, s75,oos
From which deduct items not
required, Gas specified for
1921 I,eoo,o 900
| Estimated amount o., receipts
for 1921, (per statement) 1870 900
Leaving deficit, in 1921, of D3,655,ous