Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1834-12-13

of thcsc funds. This viii be accomplished it is antic-
paied, by the appointment of active agents
by new compromises and by rigorous
IA collections where property exists 10 reduce fur
Their The whole amount from $4,000 10 100000; and
II tins hope be realized, the above named available bal
ancc viii To that extent be increased A minute analy-
ss ana examination of these unavailable funds re-
Gently been completed, and will be submitted i'm the
supplemental Report soon to be laid before Conorcss
ON the present mode of keeping and dsbursng the pub
he revenue But ON the other hand enlarged somewhat
as inns balance may happen u be from amy causes it
should be remembered, that the 3ist day of Dcccm-
Der i72 another reduction of 0pcr cent must, by the
existing laws, be made from part of the present tariff
and II the surplus in the Treasury by year from next
January, should prove TO lie increased mil
hons, could not with safety regarded too great
Tor meeting, with such reduced oiposts on mpor
tons, the probable wants of A. d. 1896 At all events
such rs the uncertainty that subject this distance of
tie that though something unusual in the latter part of
n. ~. 1886, may, III the way of final dividends our
portion OF the capital of the Bank Stock be received vet
is nor now possible to oresce the contingencies that
may check either the present large porations of mcr
ehandze or large sales of land and consequently reduce
the revenue derived from them that may REQUIRE an
increase IN our Army Navy expenditures arising from
those unfortunate collisions which all are liable
tat feel disposed to sustain the faith of treaties yndcat
their public rights, and protect efficiently their COM
mercc and citizens No further reduction of the Tariff
until that already provided for the close the ensu
ing year, would therefore seem to be prudent
The reduction increase of the Tariff is now referred
TO with avew to revenue alone, and not with view to
questions so much agitaed heretofore of protection
councrvaing regulations and the proper national policy
to be pursued to the imported uxuries and necesa
rlcs of life On those points ii considered far better for
the real manufacturers tcmsevesno rec i'm more
specializing nvestmcnts--as well for commerce aGr
culture and the revenue that policy should be selected
not to either great interest either great section
oil Inc Union, and when established. that frequent
changes should be avoided and the occasional increase
or reduction of revenue, which may sometimes become
proper for financial purposes, should be connected with
articles wholly detached from the question of protection
to manufactures. The Tariff as to these troublesome
points IS regarded adjusted, by the act of March
1888 till the year 1912 except in respect to such ne,v
me 10 imn fort
due enforcement of the spirit of that act or such other
changesas new occurrences may satisfy the great of
the community rendered proper for earlier modca
TONS without departure from the spirit of the compro
mise then intended among the friends of free trade and
ohgh protection. separate report certain subjects
relating To the due enforcement of the present Tariff be-
ing in preparation only of them will now be cdvcrted
to- IL is the evasion of the present duty silks from be-
You'd the Cape of Good Hope by their being first landed
and occasionally rccoorcd re-stamped in Europc bc
fore imported into this country In this way and by the
present discrimination in favor of European sIks the re-
venue loses very large amount AS illustration of
the loss by such determinations the enc in favor
OF French silks alone, amounted to $500 900 year
and that now i'll favor of French wines amounts TO
nearly $2O0OO0 more-makng loss of over hafa mil
hon year, ON these two articles, with only one nation
But while ON the other points, independent of the spirit
OF the compromise of 1888 legislation may he REGARDED
as still fairly open ii certainly ought to be atienpt-
ed on delicate and difficult subject unless imperntve
for il shall occur whether combined or not with
any increase reduction of the tariff that may become
necessary, as mere question of revenue by the actual
condition of our receipts and expenditures So far from
ly, the balance hand in the Treasury and the a
crung revenue under existing laws will, in the opinion
oil the department, prove amply sufficient To all
ordinary demands, and united with other resources
to answer any unexpected demands of very exaor-
binary amount.
As appears by the documents annexed. CDl the Co
vernmcnt has about $6A3 400 subject to general use
invested in the United States Bank Stock and the sum
of 81 $50 300 invested in different Canal Stocks and the
proceeds Of the sales of which, if authorized in anv nm
expected deficiency, would, in most cases prove amply
sufficient, without any resort Increased tariff
On the contrary neither of the avaahie balances csti-
mated to be on hand in 1885, 1896 afser deducng
what will be wanted for outstanding appropriations can
probably exceed million Should the surp.i,s without
that deduction prove be about six millions as cstimo
ted the undersigned respectfully submits that il will re-
qure no legislation that amount has been about the
usual average balance retained hand for MANY years
balance that has furnished great facilities in meeting
al claims even at the remoest points, with punctuality
and good faith afforded much stability and elevation 10
our public credit, by providing seasonaby the for
pnnculous tulhlmcnt of contracts and Yields great
security against sudden evils of any kind in financial af-
fairs, to render Of that provdcnt and
economical, and especially this moment when any
surplus which may exist will accrue under pcrlnanent
compromise of the Tariff that contains within itself
provision to reduce still further the duties, and undoubt-
cdy the whole amount of our revenue after the close of
the coming year.
1t is source of sincere congratulations that from the
general prosperity of commerce. and from the peace
industry and abundance which widely prevail over our
fortunate country under lis admirable institutions that
researches arc obliged to be directed rather the due
reduction or disposition ofaRy occasional surplus that
happen to exist in the Treasury than obtain sufficient
Tor public purposes by taxation and other bnrhcns But
under our altered system duties the public debt
VIII he prudent to calculate that deficiencies as we'll MS
SURPRISES, may happen oener an formerly In the opi.
mon of the Undersigned, however, neither can be soon
anticipated TO require immediate legislation But
should Congress think differently, harm could arise
FROM vesting power in the Treasury Department in
case oil an unexpected deficiency occurring in the
from any whatever sell such portions of cur pub
lac Stocks as may be necessary to supply the public wants
growing out OF actual appropriations. In a contingency
OF that kind against which, in e present system of our
wit
phcd as can be spared not, for the payment of
public debt IN the heretofore practised it is diff
cult to guard ctectuay against only the occurrence
OF deficiency but its usual evils delay if not great
embarrassment ad injury to public creditors and vo-
latlon of cur plighted faith.
Al the same time, it might be expedient to provide
that whenever the collections the revenue
authorized should prove 60 be in an excess not immed
acly needed useful proper surplus in the Treasury
that the Department should either obtain interest for H.
OF the Banks where the largest amounts are LONG dcpo
scd or invest it temporarily i'm safe stocks Till
needed or till the tariff 10 again changed This would
probably secure due interest it, while retained in
on any occasional surplus by applying in discharge of
the public debt and which mode. since the payment of
the latter can no longer be pursued
Should facts occur, which appear to require legislation
such an arrangement like regulator in some large or
complicated machinery rcmedying any occasional reg-
iares, might operate more bcnehciaiy, to any
siderable excess deficiency than yearly changes of the
Tariff, made 20 meet yearly vibrations in our revenue or
to meet yearly reductions augmcntatons i'm our ex
pcndituTcs
This subject Of interest from the Deposite Banks at
some rate, and under circumstance it was advert
cd - III report by Committee in one House of Con-
grcSs the last session. and would at this time be more
lr ny mod fftt az.