The Madisonian. [volume] (Washington City [i.e. Washington, D.C.]) 1837-1845, 1837-09-09
Sl6,733,ss4 33
Making an aggregate Of

The expenditures required to meet existing appropri
atoms during the last half Of the year, WILL comput
cd, equal the sum Of $l6,OO0,00O; making for tho
whole year $32, 733,ss4.
Whatever expenditures shall arise within the year.
upon new appropriations which Congress may think
proper to make, will require corresponding addition to
this amount But, without them, it will constitute
Of S5,s76,565 Of expenditures, over both the
receipts and the balance at the commencement OF the
year besides leaving at the close Of it, any thing
in the Mint the Treasury for future uses or to meet
contingencies.
In ORDER therefore, to discharge that excess and re-
TAIN of the money reserved the LIST Of January, one
million, which the smallest deemed proper, under
the acts Of Congress- for the efficient operations Of the
Mint and at least three or four millions more, TO answer
sudden and contingent calls there will probably be ne
cessity resort the deposites with the States
and the nstalment destined for them in October or
to some other resource, for sum equal to
BY report Of the Treasurer Of the 3Oh utmo, it ap-
pears that the balance in tho Treasury including what
was in the custody Of banks, the Mint, and collecting
officers then SOC 81 that the amount Of this,
subject to immediate draft, only S. 982, O72 but
the whole balance in the Treasury including all which
had been deposited with the States and ordered to be,
though only small part Of the amount is subject to
immediate draft, was SAL, 532, 3sl Deduct all which
has been and was designed to be, deposited with the
States and there would be balance left hand sub
ect TO draft though including every thing in the Mint,
and in the possession Of and collectors, which
Hence it is probable that, besides the deficiency for
the expenditures Of the year, sufficient means OF any
kind will exist the LIST OF October next after defray-
ing the intervening expenses TO complete the nstament
Of depostes then payable, unless large part Of the
bonds for duties postponed 10 that day. and amounting
to "a 900 900, and the million and half then due
the first bond from the United States Bank, shall be
punctuay paid or in the mean time, some provision
on this subject made by Congress-
The money standing the special credit OF the Post
- n ar
trusts, not included in the above exhibit, Tor
reasons explained in the last annual report Outsand
Eg and unexpendcd appropriations at the end oil the
year WILL in this view Of financial condition, be still
left charged the Treasury, amounting to about Sl6
100000 @a". ".s
This does not differ much from their amount at the
close Of the last year Whether the appropriations IN
expended the LIST OF January 1885, prove, therefore,
to be one two millions larger smaller than Is now
anticipated be manifest from all the above data
that some legislation is indispensable to complete
satisfactorily the service OF the year. and leave suitable
amount in the Mint and the Treasury,
Indeed, before submitting the last annual report the
indications OF decrease in the receipts, and oil an a-
preaching revulsion in our commercial prosperity, APP
peared strong the undersigned, that he felt
peed with reluctance aud regret because differing so
much from the views Of many others, to estimate the
accruing receipts for the year at only $24 600 900
As the appropriations asked for about S27O OO
000 it then suggested that the occurrence Of de-
fcency was probable. When those appropriations be-
came in fact enlarged by Congress to than S32,
100000 it rendered deficiency inevitable to the
extent anticipated, unless the receipts should hap
pen greatly to exceed the estimates
II. On the postponemcnt Of The payment Of Bonds for
Duties.
The first suggestion which will be submitted con
corning such special legislation appears proper IN
consequence Of the emhaHassments Of the coun
try relate to the posponemcnt Of the payment OF bonds
for duties.
Early in May last the collection Of the from
customs became much obstructed through the severe
pecunary difficulties OF the mercantile interest The
Treasury Department felt anxiety not only TO take
steps which might increase the security Of the Govern
ment for eventual payment but, in emergency 50
great and to many unexpected to furnish all the re-
lief from sacrifices which could udlciousy be extended
under its limited powers, and in anticipation OF what
would probably be its stratencd condition IN lew
months,
A postponement Of the payment OF the bonds falling
due was therefore, and in accordance with the views OF
the Executive authorized for periods OF from thirty to
ninety days on interest and additional security, and IN
a manner more liberal than usual by permitting It be-
fore as well after suit IN all cases OF EMBARRASSMENT
great hardship, or insolvency
The parcu ar terms, and the reasons for such post
poncment are fully set forth IN the documents an
ncxed Ca Letter from the Secretary OF the Treasu-
nv 10 the collector at New York. d. Instructions OF
the Solicitor Of the Treasury
When the difficulties in discbarging bonds in legal
currency became increased by the suspension OF specie
payments some OF the principal cities, and the Pre-
sident decided to call special session Of Congress tho
postponement allowed TO be extended TIL alter the
commencement, of the season. in order that opportu
nifty might be afforded obtain further relief by new
legislation. Urgent requests were made for an lnds.
crimnate delay Of payment oil bonds to the lst Of
January next and for the receipt in discharge OF them,
OF notes issued by banks not paying specie (Sce me
MORALS from New York, Boston and New Orleans, aud
copies Of a reply OF them and letter to Collector
Of New York G, ID, T., and +, and -