Vandalia Whig and Illinois intelligencer. [volume] (Vandalia, Ill.) 1832-183?, 1833-12-21

lycar the residue of the exchanged fou
md half per cent. stock, redeemabl
III the first of January next. lthas there
lore been included in the estimated c,
penditure of this year, and forms pa
# the sum above stated to have been PAL
N account OF the public debt. The pa,
nent of this stock will reduce the Who'll
i''ht Of the United States, funded an
Ilnfuuded. to the sum of S4.760 O82 Of
And as provision has already bee
made for the four aud Il half per cent:
'hpve mentioned, and charged in the ez
enscs Of the present year, the sum las
| tated is all that now reIn',ins of the ma
iohal debt: and the revcf ne IF tie com
ing year, together with the balance row
II the Treasury will be snii, tent to dis
barge il. after meeting the current ex
pensc> OF the Government. Under the
power given 10 the Commissioners of the
sinking fund, it Will. have no doubt, be
purchased Oh favorable terms within the
YEAR.
From this view ofhe state Of the finan
IS and the public engagements yet to be
L
irnce permits me to meet YOU at another
ession, shall have the high qualification
# announcing 10 you that the national
!eh, is extingui,hed. | cannot refrain
rom expressing The pleasure | feel at the
ear approach Of that desirable event.
The short period of time within which
| Ii" public debt viii have been discharged
- al,
sources Of the country aud of the Urn
Ieucr aud cconum, with which the Gov
'rum"nt las hcrei,f re been administer
| Il. We bhv" w,yrd two wars, since We
otcam" TIA ~. with one of the most
powerful kiugdrm- in the world, both OF
,nem undertaken II defence OF oar dear.
t>t ughts-hnlh successfully prosecuted
nd bnuorahly Terminated - and many OF
| those VITO Ia,tnok III the Fl 81 struggle, , IL.
well ~ the second will have lived tu see
the last item Of the deii i.,curr, in these
necessary, but expensive conflicts. t,.itE-
fully and honestly dis hargcd-and W
+ all have the proud SATISFACTION oil be
qn'a'Iing to iuspnhlic servants WHO tol
low IL III the administration Of the Gov
err msIh. the ltirc blessing 4 "a revcpuC
sufli !cIul, abundant. iai-ed without IL
Jusii,r q, oppression toour eNiz"es. ao'
u'in' numbered with any hur,tcns hu
what they Themselves shall think Prope
I" lnpose upon II.
The houIishlng state Of the finance
"ught not. however. TO encourage Us
Indulge IN lavish expenditure OF til
pubic treasure. The receipts Of lii
pr. seat ear. do not furnish the test l.
winch We are TO estimate The income {
the next. The changes made III our re,
cnnc system by the acts of Congress ,
1872 ana 1888. and more especially b
he former, have sweiled the receipts
til" prr-en, year, far beyond the amour
10 be expected III future years upon til
reduced larf, If duties. Tie shortene
credits OH re,enue bonds, and the cas-
duties Oh woollehs, which we e introdu
I'D fy the act of l852, and took effect @
the fourth of March last, have brougl
large sums ieto the Treasury in 1888
which, accord g to the credits formerl
given would not have boon payable unit
/ 834, and would lave formed IA part
he income of that year. These caus,
would Of themselves produce great d
minnlon of the re, cip's in the year So
rs compared with the present one an
hey will be still more diminished by til
reduced rates of duties which take plac
IN the first Of January next. on some @
'.e most important and productive arti
les. Upon the hest estimates that cal
" madc, the receipts of The next year
with The aid ofihe nI,arpropIiaieda moun
w in the Treasury. will not he uucl
| more than sufli,i lent to meet the cxpen
is Of the year. and pay the small rem
nhht of the national debt which Yet he
mans unsatisfcd. | cannot therefore
ecominend TO y"u any alteration in th'
present tariff Of duties. The rate q
rnw fixed ny law on the ,arions article:
was adopted at the las, session Of Cor
.ress, as IA matter of Compromise, vii
ntu-ual unanimity. aud unless it i, foun
10 produce more than the necessities ,
the Government call for. there woul
,eem 10 be no reason at this time to jus.ii
change.
But while forbear to recommend an
urther reduction Of the dulles, beyou
hat already provided for by the exi,tr
Avs, | must earnestly and respectful
+ ,'ress upon Congress the importance
'hstai"ing from all appropriations viii,
: ne not absolutely required Err the pu
~ interest, and authorized hy the powe