Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1836-07-19
'E'vyeEsiy-fo.gEGEl Gongrcss--a~t Sess.
TUE SURpLl 5 REVENUE.
HOUSE OF REPRESENTATIVES, !, 1896.

,
Mr. C,urRr1rxG from the Committee of Ways and
Means 10 which were referred memorial oi snnary
inhabitants Of Pennsylvania praying i"r inc clea''o
and distribution at stock OF two luno:rn 'hi""S ~
dollars payable ont of the sales Of public lands: ana
4 resolution of the House OF The Jh feornhry, IN
strucIing lhe committee ''to inquire INT" inc eSPeG
ency and pTopricy OF passing Ia" distributing te
surplus revenue now in the Treasury, and the surplus
revenue that may hereafter be in tie treasury among
the several States according TO the Federal population
orcach Stale, tor the purposes OF Internal improve
lnents ana Education, submitted the following:
REPORT:
The committee pos.ponrd reporting on inquiries re!at
iuo 10 the surplus reyrn,e until the denund upon The
Treasury for extraordinary purposes ana the probable
amount Of in the year. might be estimated win
more accuracy than at an earlier period OF Inc session
The passage of the act authorizing the dPpnSlte ~ The
State treasures of any hnancc beyond five millions
which may remain The first "t Janunry next IN effect
pos PONIES tor the present, bnth the measures proposed
and usu the bill providing Tor distribution OF me pro-
crcds OF the public lands for limited time. Although
these questions may be considered as disposed or at ieast
for the present session. the committee, IN asking |" be
discharged from the further consideration g" hr' deems
duty the House tn present general view OF t'e
urobnbi receipts and expenditures "t the year, ana ot
the future condition Of the finances Of the country.
The rcceips into The Treasury. from customs and pub.
lie lands in l:;j. amounted to 1000 including
largcrar"un from customs, considering the n'iIhcaons
OF our tariff than was ever received IN any previous
wear and thrice tie before COLLECTED in any one year
from Ike sales Of public lands On the Isl OF January
last there rcmi4inpd balance Of available funds IN The
Treasury Of sbmut twenty five mnns and ball. appll-
cable appropriations previously made, ana IL the ser
vice of the present year The revenue Tor lo6: In the
lirst five months, exceeded the receipts. in the CORES
pndg term vi last year. about seven millions SIX hum
dred thousand dnns of which excess FIVE millions eight
hundred thousand arise from public lands and one million
eight hundred thousand from customs Inc receipts
from and public lands lo7 the first live months
in l exceeded those Tor the term in 1871 only
six hundred thousand dollars: the c%ccSs OF revenue IN
-35 having accrued anast exclusively in the latter
half Of the year. 1t is probable that tie revenue ior
the last months Of the present will be equal 10 that
received the corresponding term OF the last year. out
unless trade should be disturbed by unexpected
event, the receipts from all sources during the present
wear will probaly be less than thirty millions.
which, with the balance in line Treasury on the LIST OF
January last, makes an aggregate OF sIXty'our m:ens
and half
Besides the customary charges the Treasury for the
Of the present year and partial prnvl-
sion for Of defence which deemed nd!spen.
sable, there have been unusual demands for carrying IN
effect Indian treaties, surprising indan "stiiites
and removing certain tribes beyond the MississIpp-
The charges the Treasury in lc36 are, viz:
Appropriations mad, before the lst January
for the service of lcI3 and previous years, ,,
but not expended. ................... Sc,IZO,:cu
Ordinary appropriations for lc'i, .... 1850 Eta
Extraordinary appropriations for the navy,
army. aud other Notifications, 3.ch,'"lo
Extraordinary appropriations for Indian
waIs, Indian treaties, and i"r removing
nd;aus ACKNOWLEDGEMENTS '''.... I"J"ijto4
,;nns Suib"rzsJ BY Corgress, 3020,s33
siG7l2176
which deducted from the balance in the Treasury on the
LIST of January last and The probable receipts OF the year.
unappropated balance in the Treasury on the
3lst Drrr,ubrr next Of II 300 dollars. according TO
the statement annexed. Im-te ~:l' ais pr"u!my 49,,
c fifteen millions uncxpenied at shat Lime which VIII DC
require Tor the pubic wuEKs, indian WITS, i"0ia"
treaties &c, &C. -. -
f,hr b.! for distributing the proceeds Of tie puHic
Lands had pl>s,d the House as it came from the Senae,
~ nlCr.
upon The Treasury:
For the nr proceeds Of the sales Of public
lands accnrdng to the provisions Of the
bill i;,r the years S}3 81 and 81, 2,l1eo0o
The. net! proceeds in lcjG. estimating the
total receipts at l. millions, and naEing .
the same duiucl!OlS ............--.... l':ur"o'"
sl;l5D 600
Deductnr from this amount the unappropriaed bal
ance in the Treasury tic first Of january next as es
macd there ou!d have been deficiency OF II $50,
Stm dollars being liian any amount which uilgh
be expected to remain unsXprmdrd I'll llie appropriations
prcyinusly authorised The bill alsu proposed to dlsr
bu.e the proc eeds Of the public lands ~ lSj7, winch
would thrown not ony this deficiency but al! The
upr xpcnded appropriations the 1s "t January next,
trchcr with expenditures Of lc3I, on the revenue
| from customs in that year.
The United States bank stock Is not embraced in The
account Of receipts into the Treasury during the present
wear as is probable that the questions when may
arise in the adjustment with tLal institution can be
promptly settled. bank has taken the place OF
thc old u.c The parties Interested IN the former, II IS
understood have, without the assent OF Congress or
of any department, of the G0Vprnment acquired an m
teres in lie property Of the United Staica and g" The
navy pension und, i'll the old bank Some time VIII no
doubt clapsc before adlusiiurnt can be tnads 10 r
nuiua satisfaction Of III. parties mere are "-,ffo
shares which will prGbahIy not be available before the
next year il the receipts from this not longer
posponcd On he other hand, we have Claims against
GoycrnMrut not pr"v:drdl Tor III the appropriations Il" th
present yrar-such the debts OF the c"rpmatnns "1
this District assumed By u.s. amounting to 81 IUuyOU
further provision for carrying into effect the treaty with
the Chprcwus and Oawas, 81 TS3:'2o ctaiu's on ac'
count Of the public debt and interest, o France tor lie
remainder of tic indemnity, and for executing Indian
treaties now in negotiation.
The extraordinary revenue Of the past and present
year has become srbjsct Of deep interest 10 me coa-
try and claims brief notice IN this report. ne SUI
den rise within two wears has not been exclusively ow-
ing to the growth of wealth and population, ana Tue
existing income oGGht not to he relied upon Us cfA'
rim ri our receipts for al least few years TO come
We nrc Indebted for it in degree TO a long peace,
urcular souiccs of prosperity, and steadily increasing
export Of commodity which has almost become Tie re-
guIator c' Commerce in Europe and America. Dut
other causes have given temporary ana v'oeht l'-
mise 10 svrcratiou and have carried the value OF pro-
ncry generuy and the trade and revenue OF the c"un'
try beyUnd the limit which can hr permanently snS-
tanned The banking capital OF 'hr un"n mon mas oppn n
creased By our legislatures 5 nee Ho3o, al am0hht
eruol IN Ike whole capital Of the banks incorporated
during the precedr. forty years; while IN E"sa'n
there has been simultaneously an abrupt increase J."
the number Of Joint stock companies Every bahk III
h nnIry has, at the same time rapidly increased its
business and ejaculation, especially since November
Is3 Our law too Altering the ratio Of gold aud silver
has had inc"nsdes''e influence upon pI"2eiy ah I,
tr,d, by piving us advantage over Europe IN The
commerce. IN currency. /. has produced sudden reVo
lniinn we have become importers Of gold, and are
now drawing The currency OF Great Britain and
France Trade is evidently both sides OF the Atlantic
acb;nr an elevation from which it must at no distant
nerind rcccr and whichever side tie reaction
'nrnces, it will soon ex,end 10 the "tIe5 Without anti
ciPatng any v"Ir"' evusnn, whta there are SO man!
snccuilnn viii be checked, and that he