Canton herald. (Canton, Miss.) 1837-1839, 1837-12-22

Hlif'HN HftIf lItHN NN HNttIENHt luNlA.
ding thr amount ~ Treasury notes b.
sued, are estimated at sl3.491Hft
constituting an aggregate "a Sg1,4Og,
b0i Ol thls amount, about S8j.9Bl.
3Gi wall have been expended Id tIc
year on appropriations mndu bY con.
grcW md The residue, amounting 10
S5f,ig7,ifj will be- the nominal ba.
lance IN The treasury on the FIRST Jan.
uary next
Butoi that sum, only Si.O05,40g
Is considered M immediately available
Tor, aud applicable 10 public purposes.
Those portions Of Il which will be Tor
some time unavailable, consists chief.
ly Of sums deposited with tho states
and due from the former deposiie
banks. The details upon thisssnbiect
will be found In the annual report Of
the Secretary Of the treasury. The
amount Of treasury notes, which il
will be necessary to issue during the
year on account ofthosc funds being
unavailable, will, it is supposed, not
exceed four and a half millions. II
seemed proper, in the condition of the
country, to have the estimates onsalI
subjects made as low as practicable,
without prejudice to any public mea-
sures. The departments were, there
fore, desired to prepare their estimates
accordingly, and ] am happy TO find
that they have been able TO graduate
them on so economical a scale. In the
great and often unexpected nuctua-
tons to which the revenue is subject
ed, it is not possible to compute the
receipts beforehand with great cer-
tainty; but should they not differ es.
sentially from present anticipations,
and should the appropriations not
much exceed the estimates no diff
Guilty seems likely tohappen in defray-
ing the current expenses with promp-
titude and fidelity.
Notwithstanding the great embar-
easements which have recently oc-
Cured in commercial affairs, and the |
liberal indulgence which in conse-
quence Of those endorsements, had
Leen extended to both the merchants
and the banks, il is gratifying to be
able to anticipate that the treasury
notes, which have been issued during
the present year, will be redeemed,
and the resource Of the treasury,
without any resort to loans or in
creased taxes, will provide ample Tor
defraying all charges imposed on it
during 1888.
The report of the Secretary of the
treasury will afford you a more mi
mute exposition ofall matters conncc-
ed with the administration of the e..
nance during the current year. a pc
riod which, for the amount of public
monies disbursed and deposited with
the states, as well as the financial diff
ficulties encountered and overcame.
has few parallels in our history.
Your attention was, at the last ses.
sion, invited to the necessity of addi-
tional legislative provisions in respect
to the collection, safe keeping and
transfer Of the public money. No law
having been then matured, and not
understanding the proceedings ofcon-
gress as intended to be final to bring
the subject 10 your notice.
On that occasion, three modes of
performing this branch Of the public
service were presented for your con-
sideration. These were: the creation
of a national bank; the revival, with
notifications, of the deposite system
established by the act of 2Sd June,
1886, permitting the use OF such insti-
tutlons for the purpose referred to,
with suitable provisions for the ac-
ccmplishment through the agency of
public officers. Considering the opin-
ions OF both houses oicongress on the
two first propositions as expressed in
the negative, in which entirely con
cur, 1t lsunnecessary for me again TO
recur to them. In respect to the last,
you have had an opportunity silrre
your adjournment, not only to test
still further the expedieucy of the
measure BY the continual practical
operation of such parts Of it as are
now in force. but also discovered
what should ever be sought for and
regarded with the utmost Difference
the opinions and wishes of the people.
The national will is the supreme
law Of the republic, and on all sub
jects within the limits of his consti.
tutional powers should be faithfully
obeyed by the public servant. Since
the measure in question was snbn,;,