Southern telegraph. (Rodney, Miss.) 1834-1838, 1837-12-19

1stuf January next. Dun VI va.
s1 OS5. 40Sis considered iu1'nch'asciy avn
inhle for. md nppIicntle topuhl'c purposes.
Those portions Of which VIII tor so"e''',e
he unavailable, consist chiefiy OF SUMS ue-
nosted with The States, and one rom 'ne
former deposi'c hunks he ah"""' o'
Treasury notes, which il Will he necessary
tn iss,,ssl,irin;y tho year, on account OF 'hess
funds being unavailable, VIII, y IS Supposed
moi exceed four and halt million. u
seemed proper, in the condition ct tie
country. 10 have the estimates on all sub
iec,s made as low az practicable, wi'h"n'
prejudice to any grent public measures
The Departments were, therefore, de-'red
tn prepare their estimn tes accordingly, md
am happy to find that they havc'heen able
10 graduate them on SO economical a scale.
In the great and often unexpected hictua-
,ians to which, the revenue is sui jcc.ed, il l.
not possiblc 10 compute the receipts before
hand with great certainty; but Should they
not differ essentially from the present anti
cipa,i.ns, and should The appropriations no,
much exceed the estimates. no difficulty
seems likely tohappen i'll dciraying the CIR
rent expenses with prosnpiitudc aud filc!'-
| ~.
/ Notwithstanding The gvat csnbarrass-
rneuts which have recently occurred ~
commercial aft ,iis, and the liberal ind.si-
| cence which, in consequence al these en-
barrassmen.s, have hcen extended to both
the merchants and the banks, il IS crafty
ing Ia be able 10 anticipate that the Treas
liury notes, which have been issued dnrin1
the prcsent wear, will he redeemed, and
that the resources of the Treasury, without
any resort to looms or increased taxes, will
prove ample for defraying all charges inn
posed on il during 1888.
! The Repor, ofthe Secretary Of the Treas
nrv vii! afford you more minute cxposi-
ton nf all mlttcrs connected with the adj
minislration Of the finances during The cur
rent wear; period which, tor the amount OF
public moneys dsbursed and deposited with
The State. as well as the fiDarcial difiic ilties
/. encountered and overcome, has few para-
{ le!s in our history.
/. Y,ur attention was, ut the last session. in
$ viied 10 the necessity Of additional legisla-
tive provisions in respect To the collection.
c safckeeniny and transfer of the pablo mo-
n ncy.--No law having been then matured,
). and NJ, understanding the proceedings oi
e Congress rs intended to be final, it become,
n my ,ty again 10 bring the subject to your
n no.irc.
e On that occasion. three modes ofperfoTm
81 ing this branch Of the public service wer.
c presented for consideration. These were
i the creation Gf National Bank; the reyi
Il. val, with notifications Of the deralle sys
e TEN established hy the &C, Of the Odd o
$ Juue, 1896, permitting the use ST the pub
lie moneys by the banks; and the discon
L.. In, # e.,
= the purposes referred tc, with suitable PR,
e visions CIR their accomplishment through TIT
II agency Of public officers. Considering IN,
i. np:ncns of both Houses Of Congress on tn,
J. two first propositions as expressed in The nc
II gative. in which ! entirely concur, it is un
h necessary for me again to recur to them
l. In respec. TO the last, you have had an op
a portuni;v since your Adjournment, no. chi,
# to test still! further the expedioncy of tn,
l. measure. by the continued practical opera
&c tnn of such parts OF ii as are now in force
e but also to discover-wiiat should ever b,
e sought tor and regarded with the mines: de
lr ference-ihe opinions and wishes Of Nh,
n people. The national will is the smprem
n law of the Republic, and on al such sab
g jccts within the limits of his constitutions
4 powers, should he faithfully obeyed by tn,
c. public servant. Since.thc measure in cues
ID ton WAS submitted 10 Your considcra; ion
ID most ofyou have enjoyed the advantage O
2 personal communication with your consitu
e cnts. For one State only has an elcctiu,
II been held for the Federal Government; bu
E the carly day at WIKI h it touk place, dc
e prives the measure under consideration @
much of support it might otherwise hav
y derived from the result. Local elections e.
al State officers have, however. been held i
lie several of the States, at which the expedi
lie ency OF the plan proposed by the Exccu
pfl tive has been more or less discussed-Yo
Of will am confident, yield to their results N
5, respect due tn every expression Of the pu.
y tic voice. Desiring, however, to arrive a
IT the trch and just view Of the sui icct il
rs all ITS bearings, you will at the same tim
r. remember that questions of far deeper an,
e, more immediate local interest, than the fs
z cal plans of the National Treasury. were in
Of VOWED in these elections. Above all W
u cannot overlook the striking fact, that Their,
Is were at the same tiIae in those States NOR
J. than one hundredand sixty millions of han
$ capital, Of which large portions were sui
ID Ject to actual iorfeture-other large DO,
n tions upheld only by special and limited iea
I. islatIvc lndulgences--and most of il. If NJ
'e all, to greater or less extent. dependcn
r tor a continuance Of its corporate exis,enc
n up0l the will OF the State I ao;sl,,,,r >, !,