Cheraw gazette. [volume] (Cheraw, S.C.) 1835-1838, 1837-09-20

PGDlic Debt %o,ooS ~
Making aggregate of $l6,723,est 33
The expenditures required to nee; exist
ing appropriations, during the last half OF
the year, will. as compu:ed, equal the sum
of $I5,O 100000: making for the whole year
$32,733,ss4.
Whatever expenditures shall rise within
the year upoA new appropriations which
Congress may think proper TO make, will
require corresponding addition to the
amount. But, withou them. it will consti.
tue an excess Of S5,S76:565 of eSpendi.
lures over both the receipts and the balance
at the commenccment of the year besides
not leaving. At the close of it, any thing i'll
the Mint Of the Treasury for future uses, or
to meet contingencies.
In order, therefore, to discharge that eX-
cess, and retain ofthe money reserved or
the lst of January, one million, which is the
smalles sum deemed proper, under The ac S
ofCongrcs>, Tor the efficient operations O.
the Mn., and 1T least three or four millions
more 10 wersudden and contingent calls
there will probably be necessity to resort
to the dcposi;es now with the States, and to
he instaiments destined lorihcm in October
or to some other resources, fora sum equal
% 0,GG0,0O0.
By a report of the Treasurer ofthe 30th
ul 1t appears that ;he balance IN the Trea.
sury including, what was IN the custody OF
banks. the Mn, and collecting officers, was
then $I4.596,3ll that the amount Of this
subject to immediate drafts was only 81,
3eS,O72; but the whole balance in the Trea.
sury including all which had been deposited
with the States, and ordered to be, though
ouy sn all part OF the amoun' is subcci to
immediate Gratis, was S4l,532,3sl. Deduct
all which has been, and was designed to be
deposited with the States, and there would
be no balance left on hand subject to draft,
though the including every thing in the mint
and in the possession of receivers and COL
lec;ers, which is applicable to generalpu
ses.
Hence it is probable, that, besides the de-
fciency for the expenditures Of the year
no sufficient means of any kind will exist
on the first Of October next, after dcfrayIng
the intervening expense, to complet" the
instalmcnt of deposi:es then payable, unless
large part of the bonds for duties pos'pon'
ed 10 that day, aud amounting to near "a,
GO0,G0O, and the one million and a halfthen
due on the first bond from the U. States
Bank, shall be punctually. paid, or, in the
mean time, some provision on this subject
made by Congress.
The money standing TO the special credit
of the Pos. Office Department and the Pa
tent Office, as well as various trusts, is no.
inclu led in the above exhibit, for reasons
explained in the last annual report. Out
standing and unexpended appropriations at
the end of the year will, in this view ofour
financial condition, be still left charged on
the Treasury amounting 10 about $4,000,
900.
The Secretary SUCCESS. without exactly
recommending, the extension of the pay.
ment Of dury bonds for further period be.
yond the l ofOctober; say six months from
;he time they respectively fell due. He.
s,ates that about one million Of dollars have
already been pl: in suit since the first of
May.
lie suggests the expedicncy Of withhold.
ing or at astpostponing, the payment OF
the instalment of the "surp'us revenue"
which was made payable 10 the States on
the lst Of October.
In regard to the future custody of the
public money, he takes ground similar to
that recommended in the Presidents Mes.
sage. There are. at present only sir dcposite
Banks.
The Secretary invites the attention Of
Congress t, the adoption Of suitable meas.
ures for an early settlement with the late
deposie B,nhs. He states that in lime
cases the agreements and bonds of deposite
Banks have been handed over to the Solici.
tor of the Treasury for suit. He does NOT
apprehcnd any Ultimate loss to government.
He recommends that all payments to or
from the government should still be made in
specie orits equivalent. Treasury notes
not bearing interest, but payable 10 bearer
in specie. he thinks would be in many cases
:onvcinent and useful.