Cheraw gazette. [volume] (Cheraw, S.C.) 1835-1838, 1836-05-24

was larger than had been previously
estimated, on account Of the grea, importa-
tions in the last quarter Of the year, made
before the apprehended difficulties with
france should probably end in commercial
restrictions and war; and on account of
the unexpected continuance Of extrayagant
speculations in public lands through the
months Of November and December.
9. The amount ofthc surplus atthe close
Of 1886, will of course, depend .on the
receipts during the year. and the expendl-
turcs, which have not yet been ascertained,
for a single month with entire accuracy.
But, lfthc estimates made in the last an.
nual report Of the receipts should be ex-
ceeded by three Or four millions of dollars,
as seems probable from the large imports
to supply the destruction of goods by fire
in New York, and from q continuance in
January and February Of large purchases
Of public lands, then the.whole receipts in
the year may be expected 10 equal about
25,O00,OOO dollars. The receipts from
lands are so uncertain, they may exceeded
or fall short of the allowance included in
the above computation.
| do moi see amy Indications that the
United States Bank kintends to pay into the
Treasury much,sif any, of our capital stock
during 1896, so as to swell the surplus from
| that source.
From this $4,000, 900 dollars is TO be
| deducted the expenditure during 1886 of
new appropriations, which have been esti-.
mated in the annual rcpert about "a, 100000
dollars. 49, - -. - Si:a .g
fthe expenditures ins.ls3s Of new ap.
preparations should equ;d that sum, the
balance of receipts in the year would ey-
ceedthe expenditure abotE2 000, 900 dollars.
But ifto those expenditures, assesdinated
seven months ago. are added thes new
items for the Florida war, and other in.
cidents, equalling fvemillionss the balance
of expenditures over receipts would be
100000 dollars, and thus what might be
deemed a surplus in the Treasury, January,
1887, would be only about 15,000,000
dollars, instead of what it was January /,
1886, of about 100000 dollars.
Should Congress, however, appropriate
still more to the Notifications and. Navy, TO
build custom houses, &c. &C., than was
contemplated in the estimates submitted
last December. (and it is expected they may
10 the amount of at least six or seven mil
lions, all that excess will pro tanto reduce
the surplus below fifteen millions, and make
it not over seven or eight millions. So if
the receipts from duties arc actually post.
poned much to subsequent years by the
New York fire bill, or are diminished by
any large remission Of duties, the surplus
will be further reduced. On the contrary
the receipts from lands &C., may be larger
and then it will be increased.
Fromth!s statement, there was actually
in the Treasury, at the close Of the year,
about $lO,OO0,O00, after dcducting actual
expenditures and unexpended appropriations,
which must be expended. And this, sir, is
the immense surplus over which the Ex-
ecutivc wields an uncontrolled authority,
and with which the nation is to be cor
rupted! Sir, it is true it is rapidly increasing
and will continue to do so, unless We pass
the necessary appropriation bills. Sir,
this surplus, with the decreasing duties under
the act of 1882, will not remain long,
although It amounts in calculation utmost to
$5O,O0O,OOO but will be only in calcuia-
ton, not in cash. am Mr.. Chairman,
much amused at the change in the state Of
things. Two years ago we heard nothing
but woful prophecies Of a bankrupt Trea-
sury and ruined People. A resort to
direct taxation, arising from the folly and
usurpations of this Administration, was
predicted With great confidence. This
| very year was the period Of fulflment-
when 10! and behold, We arc not alarmed
ON account of a bankrupt Treasury and a
ruined country, but, sir, because of an
oYerhowing Treasury and prosperous
People. Weare actually alarmed because
we have so much money we do not know
what to do with it. What singular full
filment Of prophecy this! There is, Mr..
Chairman, 4 ready way to relieve all our
difficulties upon this subject-rclieve the
taxes Of the People by reducing the tariff,
and the surplus will soon be reduced. |
hold myself under no obligation TO abide
any compromise Of conflicting interests,
which shall unnecessarily bunden the great
body Of thepeople.
| come now, Mr.. Chairman, to consider
the subject Of the deposite banks. 1t is
said by the gentleman. from Tennessee
| (Mr. BELL that the deposite Of tho public
money in tie State banks, extending as
they do over the whole nation, secures to
the Executive an extensive and dangerous
influence ever the moneyed concerns Of
the country to an extent dangerous.to public
virtue and liberty; that the deposite banks
will be enirely subservient to its views.