The Charlotte journal. [volume] (Charlotte, N.C.) 1835-1851, 1837-09-15
would subject large and highly respectable

I ana Delieslng mat temporary postpone.
ment could he made without detriment 10
other interests, aud with increased certain.
~ Of ultimate payment, | did not hesitate
to comply with the reques, that was made
Of me. The terms allowed are, 10 the full
extent, as liberal as any that are to be found
IN the practice Of the Executive Depart.
meni. IL remains for Congress TO decide
whether further posiponement may not
with proprIety be allowed, and, if so, their
legislation upon the subject is respectfully
invited.
he report Of the Secretary of the Urea.
sury will exhibit The condition ofthese debts;
the extent aud effect Of the present lndul.
gence the probable result OF IFS further ex-
tension on the state of the Treasury, and
every other fact necessary 10 "A full cousId.
Grafton of the subject. Similar Information
is communicated IN regard 10 such depos.
tories Of the public money as are indebted
10 the Government, 10 order that Congress
may also adopt the proper measures IN re-
gard to them.
Tho receipts and expenditures for the
first half OF the year, and an estimate OF
those for the residue, will be laid before you
by the Secretary of the Treasury. la his
report Of December last, II was estimated
that the current receipts would fall short OF
The expenditures by about three millions of
dollars. Ii vii be seen that the difference
sllI be much greater. This is 10 be at.
trlbuied not only to the occurrence Of great.
er pecun,ary cmbarrassmeuts III the bust.
ness Of The country than those which were
then predicted, aud, consequently, greater
dr1aution IN the revenue, but also 10 the
fact that The appropriations exceeded, BY
neafly SIX millions, the amount which was
asked Tor 10 the estimates then submitted.
| The sum necessary for the service Of the
year bny end the probable receipts, and the
amount which j, was Intended should be re-
served in the Treasury at the commence
ueui Of the year, VIII b about s,s millions.
Il the whole OF the reserved balance be not
NJ once applied 10 the current expenditures,
but four iniinous be s,Hi kept 10 the 'ireasu-
~, a. setgs mpsi eSpedien,, tor the uses u
the n.ni, and 20 meet contingencies, tbs
sum Ii escd ~,i bc ten millions.
In making ihis estimate, the receipts IRE
caleu gat on the supposttIon Of some further
ev'euslen Of The indulgence granted 40 the
pavacnt 81 bonds Cor DUTIES, hlch ~lli at
feet the amount Of the revenue ior the pre-.
sent scag 10 the exien, of two and hall
millions.
II il not proposed TO procure the requir.
cd amount by leans or Increased TAXATION.
/ There are now 10 the Treasury nine mi.
/ ilo,,s three hundred sud -lsty seven tbou--
and tao hundred and fourteen dollars, dl.
fccicd Is the Rr, of abe 23d Of June, -36,
10 b. deposited s,lh the States ia October
newt. THIS sun, Il 50 deposited, WILL be
subject under tic law TO b. recalled. 1t
needed, 70 delray exisllog appropriations
ind as Il y now evident that tine hole, ~
the principal pat, q It wall be- wantrd iar
That purpose, Il appears most proper that the
dcp6sIic Should H. withheld. Until the a.
mnuu' Gun h. collected from the backs, Trea.
sury notes may be temporarily issued, TO be
gradually rcdeeacd a. ltis received.
am aware ,ba, rhls course may BE- pro-
lactive al Inconvenience 10 many oi the
STATES Rciyire upon the acts OF Congress
which 80 oul loihem the stfnug probabHi.
-, It DOT tie certainly, % Receiving this N.
sialment, lhey have 10 some Instances adnpi.
"a measures WIh winch is retention may
~eflausly interfere That such coudtiou
olibags should have occurred is much to be
regretted. |, not the Ter 4 among the IN.
fortunate results IL the disasters ofthe lines (;
and j, /. Tor Congress to devise iil remedy
/ iflaerc b. nne. The money being udiSpen.
sable Ia the wants of he Treasury, il IS ditti.
cult to conceive upon What principle Of jus.
iucp az e>pedlency Us application 10 that ob.
! lsci can be- avoided. To recall any portions
81 tbe SUNS already deposited With the
States, would Ia more inconvenloat, and less
efficient. 10 burden the country with IN
creased iaxaiiou, wien there IL IN Tact ii large
SURPLUS revenue, would be uousl and an.
sise; g. ra,sn money BY leans under such
circumstances, and thus 10 commences new
national debt, would scarcely bc sanctioned
by The American people
The plan proposed viii be adequate to all
our fiscal operations, during the remainder
I 4 the year. Should :, BE- adopted, tho
Treasury, aided by the ample resources Of
the country, will be able 10 discharge, pune
lmally, every pecuniary obligation. For
The G,,ur,. all that is needed will he that