Martinsburg gazette and public advertiser. [volume] (Martinsburg, Va. [W. Va.]) 1826-1833, 1828-12-25

organtzaiion, "the busiuess OF the department
Of finance could not have been performed"
Il affords testimony, the memory of which %
conceived to be not wholly prevalent 20 that
which is here Intended 10 be- borne 70 the kin
dred but better institut.on of our day. The
policy Of Congress having established hnan-
cial connexi0n between the Bank of the Uni.
ted States and the Government Of the Union,
V is conceived TO dcyolye upon the officer OF The
latter, whose post charges him with close OBJ
seFvance OF tia: coone1ion, to report TO Con.
gress It's practical effects. The beBen,s Ct a
remedy become often most apparent by re
collection of the evils which called for IT, A
paper currency, TOO redundant, because With
out any bass of coin, or other effective check,
aud Of no value as a medium of remittance or
exchange beyond the jurisdiction of the State
whence II had been issued, a currency that not
nnfreauenuy imposed gpon the Treasury the
necessity OF meeting, by extravagant premiums,
The mere act OF Transferring the revenue col
iecled at one point to defray unavoidable ex-
pendnures az another; this is The state 81 things
which the Bank OF the United States has super.
s'ded In the financial operations OF the ma.
hon; as in the pecuniary transactions between
nsn and man. confidence has succeeded to dis
truss sesdness 10 fluctuation, ard reasonable
certainly TO general confusion and risk. The
very million Of dollars OF tends not effe ctve OF
which the Treasury for many years has been
Obliged 10 speak. rs bat remnant OF the loss.
es ar'sing from the shattered currency, which
The Bank, by wise management OF lis affairs,
has cured. la conclusion, the mode OF its agen-
cy IN large payments OF the principal Of the
debt, IS not to be overlooked By its arrange.
menis Tor item, u avoids the Inconvenience Of
too great an accumulation Of money in the
vaults Of deposi,e used by the Government,
o. 49, 4, a.. A
sudden distribution. II does this ny an,icpa
ting. as the periods Of payment approach, The
disbursement of considerable portion OF lie
stock in the form Of discounts IN favor ofthose
who are paid Oft, thereby ensbIng them other.
wise TO employ their cap4tal as opportunities
may offer beforehand. IN this manner heavy
payments Of the dent are, in effect, made Y gsdu.
ally instead Of the whole mass being thrown AT
once upon the money market, which might
produce Injurious shocks. So erudentiy in
this and other respects does tie Bank aid the
operation Of y ying off the deb, that tie com.
munty hardly has a consciousne IS that il is go
ing on 4
An act otCongress was passed on the gath Of
last May dire ting The Secretary Of the rsea
sury to subscribe IN The name and fer the use
of the United States, fer ten thousand shares Of
capital stock Of the Chesapeake and Ohio Cana!
shortest outlet between the waters Of the OHIO
and the Atlantic Ocean. This duty has been
performed, and It rs satisfactory 10 DE able to
state THAI the uatlongi work which il is design
edto advance. "a work distinguished from kin
dred enterprises TO which Congress haa hereto
FORE lent Us powerful aid, by It's counexion
with the national metropolis, bias been corr
menced Considerable portion Of he line vi
the canal IS in process OF excavation, and under
Circumstances that pg)mlSe well towards the
successful prosecution Of the whole work. In
IFS completion large and errichinE increase
OF home trade 10 ;hls part Of the Union, Gittuse
ingitS commc0ciai end fiscal benefits 20 Other
parts and much OF !, concentrating 10 q dis,rrc;
the peculiar and exclusive cafe OF Con.
gress, csnaot but be Witnessed.
The reirns CT INTENDED is here closed. II
looked to hut two thiHge, Grsr, condemned
statement OF The ieadtne facts belonging 10 ,hc
hist0fJ OF The Depart nent ~ the examinations Of
one ~ taose periods Of tinle ,uto which the con
s'itn''"n has divided the movements Of he 60.
ver"men' ;Pnd, secondly, 70 general retereu"e
To The principles of pubi.r policy Which have
guarded The present Incumbent m the perform.
aaCe o. as IeaCinP duties So deeply do the |
FINANCES - State always enter into the est |
m'te OF rs prosperity, often of its very exit.
ence, that he has at no inc fek himself at lib |
- > w t"nS view OF ttle Jaw cora. !
maod'ne him to make an annual report to Con- |
erees "on the subject of finance, :" 6ui puts him.
seHnpon the indulgence oithst pody for hsvnr !
coupled with this annual performance of his !
duty, principles and recommendations which he |
believes eventually calculated, IN the language {
OF that law, TO improve and increase the inap. |
ces ofthe Union
The Report viii now proceed 20 state the {
receipts and expenditures OF the past and pres !
ent years, asfar ascertained, and ali estimate
OF those tor the year ensuing.
The actual receipts from all sources during |
the year 1897, amounted (sa will be seen in |
Document No. y to twenty two millions nine /
hundred and siyty~thfee dollars amt ninety. SIX |
Cents which With the alliance 10 the Treasury !
On Ia first q January ofthst year, OF six mil. !
Hons three hundred aad fifty eight thou. |
sand six hundred and eighty SIX dollers !
ana eighteen cents. give an aggregate oftwen. |
ty nine millions three hundred and twenty five !
thousand and fifty dollars and fourteen cents
OF the sum received as aheve, daring 1927. the |
Customs yielding upwards OF nineteen milhors |
and hall, and the sales Of public lands nearly |
one millions and hslf The expenditures of |!
the United States To-. the same year amounted |
to twenty two millions six hundred and hf,y
SIX thousand seven unAred and sixty four del. |
lars and touF cents. The same document will |
supply q specification of the particulars, an6 /
show & balance in It's Treasury on the first of |
January. 1928. of STA millions SIX hundred and !
sixty eight Thousand two hundred and eighty |
SIX dollars and ten cents
The acfua1 perairFr IA, .;nc. tLraa