Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1835-12-12

81
ruo'ic deo', $3.50 OF
The expenditure for the fourth Quarter. "
ii expected will be $500 600 On
Thus leaving on the LIST of January, l536
subject however to the deduction here
after mentioned, estimated balance
of money on hand equal to Ia 5os 10
This includes what has heretofo been re-
ported as unavailable funds now re-
duced TO about 81 100 Coo making
the computed available balance on the
1st of January, 1885, sIs.O47 sos %
1" Computing all the existing charges of every kind
on the treasury at the end of the present year. to be
about 81 o95,o74, the balance Of available funds then ON
hand. would is estimated be sufficient TO meet The
whole at once and leave 10 be hereafter applied by Con-
45oos4 anu 0'ef purposes the Sun" OF about slo-
In treating of the Surplus in the Treasury and its
disposition, he says:
1t has been shown that the available balance in the
treasury over all outstanding appropriations the LIST
OF January, 1885, is estimated about ten and half
mions the expenditures for the ensuing year. for all
purposes whether ordinary extraordinary enumerated
In the schedules at than twenty three millions and
the receipts at less than twenty millions Hence il fol-
lows, that if the appropriations made and the
received In 1885, shall be large as the estimates and
no larger, the nett surplus now applicable TO and
other oOects VIII probably the of the
year. become reduced TO between six and seven
millions This sum- therefore, would in those events
remain on the LIST of January, 1897 at surplus
unexpendcd and unpcdged Consequently, most of il
could now be applied to other purposes not included in
the estimates and literally aid in promoting any const
tuonai objects, which Congress may deem most exped
ent.
AN unprecedented spectacle is thus presented to the
world oil Government, not only virtually without any
debts and without any direct but with bout one
fourth oil its whole annual expenses deayed from sales
OF It's own unincumbered and immense tracts of publc
except for the other tree-fourhs and the proceeds
OF mat indirect taxation, though largely and fire.
quenty reduced yet accommodating fast as TO REQUIRE
further legislation to dispose Of or invest a consdera-
BILE surplus hand Whether this envia5le pros
Pery be justly attributable TO the form of Govern
ment-to the administration of ito the character of
our EeoFlethe physical Advantages of our country-or
~ " .o",ora, IL IS SUBJECT OF strong congratula
on ana EXHIBITS very remarkable phenomenon in the
history OF taxation and finance Without dwelling on
the primary causes OF our fortunate condition. dis
cuSsh9 any secondary ones such the great demand
ana reward IN this country for either labor capital
the more appropriate inquiry under these novel
stances, and occasion like the present seems
to be to discover the udcous course 10 pursue in
using this surplus, and in preventing regulating
its future accumulation. The balance now on hanJ
or anticipated, does not differ so much in amount
from that at several prior periods as to require any
extraordinary steps, If the available mode existed
oil employing II legally and benefcally, without new
legislation. There three former wears in our
history viz 1885, 1876 and 1917, when our balances
on hand on the first of January each year were re-
speeussiy over l3, ~ and ID millions of dollars,
and in 1888 ii millions But these balances were
either unavailable Tor time, whenever productive,
were soon able to be applied in the discharge of the pub
lie debt and thus to prevent enger and larger accu-
mutations, and to save interest In that way being
duced from time to time, they at other period have
ever exceeded ten millions, though four other occa-
sIons they have accumulated beyond nine millions
But happily for the country it no LONGER comoeed
to part with its discharge heavy burdens
imposed in former times; and in the present prosper
Gus state OF our finances, it is respectfully submitted
that, in order 10 reduce the present surplus there
might be first and jndicousy authorized for purposes
mol enumerated IN any Of the estimates other beneficial
expenditures for objects clearly lawful and useful Not
considering the province of this Department an an
na report to enter into minute details relation to the
selection oil those objects, the undersigned would merely
advert to few prominent ones about which no con-
siituonai difficulties interpose; such the erection of
suitable and necessary buildings for the use of the
Genersl Government, whether in this city or the diff
ferent States and the earlier of important
works contemplated, and the rapid completion of
others already begun, which essentially connected
WIN HE commerce, the navy, the frontier delences
of the country"
The Report, however is rife with important sugees
tons. II will speak for itself in our next