The Caledonian. [volume] (St. Johnsbury, Vt.) 1837-1867, 1837-12-12
MESSAGE.
ofhG Senate


and House Of Representatives.
We have reason to renew the expression OF our
deyout gratitude the GIvER OF ALL GOOD, Tor ms
benigp protection. Our country presents, on every
;da The evidences of that continued favor, under
whose AUSPICES it has gradually risen from lew
feeble and dependent Colonies to prosperous ana
powerful Con!ederacy. We are blessed win DO,
nestle TRANQUILITY, and all the elements OF national
prospsrity The pestilencc, which, invading, Tor a
time some nourishing portions OF the Union, inter
rupted the general prevalence oil unusual heaith,
has happily been limited in extent, and arrested IN
Tia fatal career The industry and prudence of our
citizens are gradually relieving them from the pc,
cunary embarrassments under which portions OF
them have labored; judcious legislation, and the
natural and boundless resources OF the couny,haVe
afforded wise and timely aid to private enterprise;
and the activity always characteristic OF our people
has already, in great degree, resumed us usual
profitable channels.
rive here omit till another week n small portion
of the Message relating to Foreign attairs,l
The balance in the Treasury on the first day OF
January 1887 was forty five millions nine hundred
and sixty. eight thousand five hundred and twenty
three dollars The receipts during the present year
from all sources, including the amount OF treasury
notes issued, estimated at twenty-three millions
four hundred and ninety-nine thousand nine nun
dred and eighty dollars, constituting an aggre-
gate Of sixty nine millions four hundred and sixty
eight thousand five hundred and four dollars. oi
this amount, about thirty five millions two hundred
and eighty one thousand three hundred and sixty
one dollars will have been expended at the end OF
the year on appropriations made by congress; ~ tie
residue, amounting TO thirty -iour millions ono nun,
tred and eighty seven thousand one hundred ana
forty three dollars, will be the nominal balance IN
tho Treasury on tho first of January next But oil
that sum, only one million eighty five thousand four
hundred and ninety eight dollars is considered as
Immediately available for, and applicable to, public
nurnoses Those portions &C j: which will be for
some time unavailable, consists chiefly OF sums de-
nos;tsd with the STATES and due from former depos-
ito banks. The details upon this subject will! be
found in tho annual report Of the Secretary ofthe
Treasury The amount of Treasury notes, which
il will be necessary to issue during me year, on ac-
count OF those funds being unavailable, will, 1t is
supposed, not exceed four and half millions. Ii
seemed proper, in the condition of the country, to
havo tho estimates on all subjects mode as low as
practicable, without prejudice to any great public
measure.
The departments were, therefore, desired to pre-
mare their estimates nccordingly and | am happy
to find that they have been able to graduate them
on so economical scale. In the great and often
unexpected fluctuations to which the revenue il
subjected it is not possible compute the receipt
beforehand with great certainty; but should they
not differ essentially from present anticpalions, and
should the appropriations not much exceed the es'
Inmates no difficulty seems likely to happen in de-
fraying the current expenses with promptitude and
fidelity.
Notwithstanding the great cmbarrassments which
have recently occurred IN commercla, a5a,rs anu
the banks, it is gratifying to be able
to anticipate that the Treasury notes, which have
been issued during the present year. will be re-.
deemed, and that the resources of the Treasury,
without any resort to loans or increased taxes will
prove ample for defraying all charges imposed on 1t
during 1898.
The report of the Secretary oftho Treasury will
afford you more minute exposition of all matters
connected with the administration of the finances
during the current year; period which, for the a.
mount OF public moneys disbursed and deposited
vith the States, well as the financial difficulties
encountered and overcome, has few parallels in our
history.
Your attention was at the last session. invited to
n nh6
respect to the collection, safe keeping, and transfer
of the public money. No law having been then
matured, and not understanding the proceedings of
Congress intended to be final it becomes NV
duty again to bring the subject to your notice
On that occasion, three modes of performing this
branch of the public service present for con-
sidcraton. These were the creation of national
bank; the revival, with notifications, of the de-
poste system established by the act of the 23d of
June, 1886, permitting the of the public MONEYS
by the banksj and the discountenance of the use of
such institutions for the purposes referred to- with
suitable provisions for their accomplishments thro'
the agency of public officers. Considering the o.
pinons of both Houses of Congress on the two first
propositions as expressed IN the negative in which
entirely concur it is unnecessary for me again to
recur to them In respect to the last you have had
an opportunity since your adjournment, not only to
test sun further the expediency of the measure by
the continual practical operation of such parts of i,
as are now IN force, but also to dscover-what
should ever be sought for and regarded with the
utmost deterence-the opinions and wishes of the
supreme
the Republic, and, all subjects within the limits
OF his constitutional powers, should be faithfully
obeyed by the public servant. Since the measure
In question was submitted to your consideration
most of you have Dyed the advantage of person
al communication with your constituents For one
State only has an election been held for the FEEDER
al Government; but the early day at which it took
place dePrives the measure under consideration of
much of the support it might otherwise have deriv.
ed from the result
Local elections, for State officers have, however
been held in several of the States at VIII ch the ex
Pediency of rhe plan proposed by the Executive
ahave been more or less discussed You will, | am
confident, yield to their results the respect due to
every expression of the public voice Desiring, how.
ever, TO arrive at truth and Just view of the sinh
Ject IN all its bearings, you will at the same time re-
member, that questions of far deeper and moro
immediate local interests than the fiscal mans Of
me NATIONAL Treasury were involved in these cleo
lions Above all, we cannot overlook the striking
fact, that there were at the time in those States
more than one hundred and sixty millions of bank
capital, of which large portions subject to &C.
tual forfeiure-other large portions upheld only by
special IL and limited legislative indugences-and
most OF it, if not ALL to greater less extent de-
pendent for continuance of its corporate exlsence