Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1828-10-17

These payments were in acquit,ance both Of p,in
cipai and interest; and is but lair that this ston
'e disiinc tly understood. They make an aggre j
gate vi sos ,2ST 63l ~, paid in three years, whi.U
Mr.. Rush and his colleagues. in their whole tern
make The unprecedented payment 0i S25, BAT 81
W, and exhibiting comparative deficit OF nearly
thirty eight millions of dollars in money, with Tbs
advantage of third in time for payment. But, n
there are ebbs and foods in the Treasury tide.
and less payments were made in other years. thatv
even the annual appropriation, LET us look through
succession OF yeas, Tor the results Of the com.
parson and thus test the accuracy of this claim ,oI
superior providence and economy. From January !
1871, 10 SANITARY, 1925, embracing MIR. Monroe j
Administration, there paid, in discharge OF tho
punlic debt, Sln! 456 90. Il
The force OF figures in the application of Il, N
simplest rules OF Arithmcc will settle this pre- i
tension without further remark. But, il il said \
that MIR Adams, ami his admnistr alton, (and o]
give It more imposing aspect il il printed in cap
ra'sl haze actually gained to the good peopIsl
81 me United States, upwards OF itce,ty-eighsI
millions, SC Now, if We had been informed
thai his care taking onh -apient administrator,
had actually r. ceived from these good peopleI
oil the United States something like hun,lfc,
millions OF the hard earnings of their labour and
had returned them but twenty sht millions, for
any common and pervading benefit, il would have
expressed more justly the truth of ;te case.
The 9Th day OF february, 1926, Mr.. McLane al
Delaware, from the Committee oi Ways II Means,
! in the III. Of K. made Report upon the Finances
and upon the redemption OF the Certificate o.
fUohc DeOt MS State paper is distinguished LyI
great ability and very accurate knowie Of our
fiscal concerns. l might add tha, il there be an u
thing tor which 1t is distinguished, than ia
accurate views OF the receipts and obligations Of,
the Treasury, it is in the clcarncss with which i,
demonstrates, that ii Mr. Rush be ltted for apy
oce, IL Is yet 10 be asc-r,snr,f Ii the renewed,
lsvor and experiments OF the government. For i'll
IS III th> Report that he shows single error OF tbs
Secretary, that equaed nearly five millions oil dol
lars The Committee OF Ways G. Means, than act,
ing upon these Important mtcrests, wa, appointed
by Mr. Speaker I aylor Of New York and cannot,
consequently, be suspected OF lacking in 10y atty ta
SIR Administration; and this Report, though pre-
pared BY Mr.. Mcl.ane, must necessarily have re-
'er5'' ~ 'ins ION. The payment the publcl
deb Tor 1925, had already been made; and we are
iin.s told, that /; amounted 725 ,034 49, and
making an estimate of the Of the TREASURED
20 discharge the deb, in 1875 6. g, Mr. Nc
Lane presents these several views, in statements
numerically designated |, 2, }. That which is In.
dica'ed AS number 1, shews the sums that may buE
paid upon the basis presented by Mr. Rush ,'
! 1926 and surprising the means of the Treasury 10
continue the same in the years 1927 and 1928 Inl
IN" hrst wear there was an inconsiterable deficits;
IN SECOND - ccns''-ii,.y believed (an! is admitted
by the Secretary TO yield increment upon thar
oil the preceding yaar-Adopting this estimate as
the scale by which may impartially aud accu.
'aitly les; the economy of the Treasury, and il u
I'd ely to the national obligations, are present.
ed with the result:
That in July, 1926, there should
have been paid to the public
debt G: : or Eao vel
inJuIy, 1927, lI.os5IeS o.,
In oct' 1872 1905, 542 90
Total, $2s,367,34O Il
Actually paid, aud expected to
be paid IN January next, after
deducling the payment in 1925 1892, pol O5
AMI this exhibits deficit in
paymen, OF $II,715,Is9 90
Mr. McI.ane's Report looks 10 the t,ayment Of the
above sum, 10 discharge Of the principal only and
winch Il IN addition to the entire psymen; ~ tho
accrung Interest, and he estimates that there will
ss. remain IN the Treasury, OIL the 1st day of Jan
1929, SO ,lU4,I05 81.
appears, then, that the debt of the u States
has no, been discharged TO the extent Of the lust
expectations of the Committee in lS26--wbjle the
| estimated mans OF the Treasury have not been
deficient. The ndiutal and pressing enquiry Is |
how have these treasures been ,iispeuseJ,-
NJ Rives of Virginia, III debate upon The floor OF
Cong ss, declared that the Increase of the ordina
ry expenses oil government, under the present ad.
miiistrati0n, compared with spouding period
OF Ia last Administrations amounted 10 n, annual
sum OF between 2 and millions Of money: and
Mr.. ). Barbour also asserted, las lac said uno,
the authority oil the Treasury Reports) that this
increased expenditure for the three last years was
considerably beyond eight millions of dollars; aud
,iink he estimated, that the AZ sregate amount Of
thIs augmentation would, at the close of the preS-
CIV ycdT' very largely exceed IL millions III these
V'twS De accurate, and they Seem 10 lave. with
stood the attempts made TO refuie them r.ere Is
rorobordiing coincidence in the supposed ability Of
tie Treasury, (as anticipated IL 1876 10 extineusI
considerable portion OF the public debt aud
III the additional expenses of the government
which have subsequently, consumed the public
means, aud diverted them from a faithful opnliea-
uon to the ia ional engagements.
am informed, that it is usual for the several
lifahs OF departments, to transmit estimates 10
Congress Of the expected demands for each wear
ald mat supplies are given by law, in conformity
WIN those estimates, aud in practice ,fa, II ia We.
~ for the disbursements 10 exceed the ,noro.
pTia1ons know that the Constitution OF he u.
o'at provides, :" that money shall be drawn
Iom the Treasury, but in consequence of appro.
" piidions made by law" and in the spirit OF THE
excellent provision, The Act Of May 1880 reo,,ires
iiai unexPcnded balances Of appropriations aafe-
mo object OF appropriation has been effected,
shall be carried 10 the surplus fund, where il be-
comes sacred to the Public Debt In alanciro
hIcugh the documents that shew the appropriations
~ one column, aud the money paid out in another
perceive that for the year 1927 the exnendi,urc
exceeded the appropriation, a fraction less tban.,
million OF dolars.-Thi5 excess will he found in tbe
i9ho"ing itHns of specific appropriation Public
i,uiIines, Mint Establishments Light Houses
''"0yS &c Marine Hospital, Relief OF individuals
10 property destroyed, Purchase and Surveys Of
LAM, and Pay OF Registers and Receivers Forfi.
ic lions, Arsenais, Militsry Academy, Paw Of In.
dian Agents aud Suh-A gents, holding and CARR
ing into escrt Indian Treaties, Emigration of H..
oi'ns' Ndyy proper, aud Gradual Increase and I'm
prov hsh' OF the Navy. The unexpended baI,n.
e' VI 'o'mer appropriations, may possibly account
~ SUN rasutc' Tor this excess; but even these
"re hol sulcIent TO cover and paidte the d,burse.
Uienf oi this agrrcgate excass IL. IL .-.t'