State journal. [volume] (Montpelier, Vt.) 1831-1836, 1836-06-28


be finally submitted, will so consider it.
Mr. Chairman, | propose to inquire into
the actual state of the Treasury, with the
view of ascertaining whether its condition
and prospects will allow of distribution
of the proceeds of the public lands among
the States, as proposed by the bill on your
table from the Senate. But, before doing
so ! beg leave to call the attention of the
committee to the two last annual reports
of the Secretary of the Treasury, for the
purpose of showing how entirely mistaken
he has been in his estimates OF the future
revenue of the country.
In his report of December 2, 1884, he
estimated the balance that would he in the
Treasury on the first Of January. 1885,
at $5,5S6,232 "a
lie estimated the receipts during
the year 1885, at 20,O00,OOO 90
Making of available funds ----
for that year, S25,5e6,232 "a
BY the report of December, 1885, it APP
pears that the actual balance in the Treas.
ury on the first of January, 1885, instead
of being about 1-2 millions, as he had
before estimated, was $500, S5S AZ; and
by the same report we are informed that
the receipts of 1885, instead of being but
20 millions, would he sos, 430,38l o., eX-
ceeding by nearly 1-2 millions his pre-
vious estimate. Observe, sir, this was the
estimate made Mt the commencement of
the present session.
But. Oh the 18th of January, the Secre-
tary, in answer to call from the Senate,
informs us that his estimate of receipts
made in December was quite 10 low; and
that the actual receipts for 1885 were $34-
400,7 33 80, being an addition Of six millions,
which the short period of six weeks had
enabled him to discover The account
then, between the Treasury and the Sccrc-
tary's estimates for 1885, stands thus:
Ascertaned balance in the Treasury,
January |, 1875, SS,S92,o5s AZ
Actual receipts for 1885, 34,4O0,733 60
Making the sum of S43,203,592 II
Deduct balance in the Treasury and re-
ceipts as estimated, 25,5S6,232 81
Leaving an excess of Sl7,707 ,359 II
of available funds for the year 1885 over
and above the sum which had been esti-
mated by the Secretary at the commence
ment of the year.
Sir. in this matter of estimates, the Sec
for he has been quite rs wide of the mark
this year as last and he runs into the same
error, that of estimating the revenue great
ly too low. In his annual report, made at
the commencement of the present session,
he estimates the receipts for 1886 from all
sources at Sl9,725,700. On the 18th of
April, 1896, in answer to call from the
Senate, the Secret Y informs us that the
amounted TO the sum of Sl0,725,7O0, about
one million more than one half of his esti-
mated revenue for the whole year. Here
again the Secretary, fire days afterwards,
finds his estimate for the first quarter Ia he
minus about half million. Hear his eX-
PLANTATION: quote from his report of April
%, 1896: at is deemed proper TO add, that
some additional returns Of receipts INTO the
Treasury during some of the last days OF
March, which, from great distance, irregu'
lariiy in the mails, or some other cause,
had not arrived, and could not he nscer-
tanned by either the Treasurer or this De-
partment at the time of my former Report,
have since been received, and increase the
amount as then ascertained by him in his
running account to be the balance in the
Treasury about S45l ,545." So the actnaI
receipts into the Treasury during the quar-
ter ending March 81, 1896, were Sl1 III
245.
Sir, n man of more suspicious tempcra-
ment than myself might charge this uni
form system of laundering, which the Sec
retary seems TO have fallen into, to some
motive of conceRlment, eAlraneous from
the public good. make no so such charge.
| will not question either the integrity or
general ability Of the Secretary. ! believe
him to be in many respects an excellent
officer. ! impugn not his motives; but
viii say this of him, that for II Yankee he
shows very little cutencSS at guessing. Why,
sir, the dulest of the Kentuckians on Green
river, who, we were the other day inform
ed by my friend (Mr. lIAwEs,) their repre-
sentative, mistOok an astronomical obscr-
vatory for the miraculous re-appearance OF
Jacobs ladder, would be willing to reckon
on wager against his guessing; and in
Western phrase, would be "mighty likely
to beat him all hollow"
MIR Chairman, ] come now 10 inquire
into the actual condition of the Treasury,
with view to ascertain what sum will bC
for disposal during the present year. In
doing this, | shall rely ON the statements
maze ny lle secretary Oh llo Il'uSull
himself for the past, and ON estimates for
the future, the reasonableness of which
cannot he called in question.
The balance in the Treasury January lst
1895, was SS,e92S AZ
Revenue of 1885, 34,40O,733 81
Making, 43,?93,592 II
Deduct expenditures Of 1885, size, l4l "a
Actual balance in the
Treasury January LIST, 1886, S25 ll145l "a
Actual receipts first quarter
1896, ll,l7I245 &c