Southern marksman. [volume] (Clinton, Miss.) 1838-1839, 1838-12-18

and by me sale oil one oil the bonds of thc.
Bank the United States, for O.. 251,S7I
The aggregate of means from these and
other sources with the balance on hand on
the first of January last, has been applied
TO the payment of appropriations by Con-
gress. The whole expenditure for the
year on their account, including the re-
demption of more than eight millions OF
Treasury notes. constitute an aggregate of
about forty millions of dollars, and will still
leave in the Treasury the. balance before
stated
Nearly eight slillioRs ofdoIlars of Trea-
sury notes are TO be paid during the com.
ing year, N addition TO the ordinary ap-
preparations for the support ofGovernment.
For bo'h these purposes, the resources of
the Treasury will undoubtedly be suAi.
cienI, II the charges upon it are not in.
creased beyond the annual estimates.
No excess, however, is iikly 10 exist; nor
car the postponed instaIment of the sur
plus revenue be deposited with the states.
nor any considerable appropriations be-
yond the estimates be made, without caus-
ing a deficiency in the treasury. The
great caution, advisable at all times. of
limiting appropriations TO the wants of the
public service, is rendered necessary nj
present by the prospective and RAPID re-.
duclion of he Tariff; while vigilant zeal,
ousy, evidently excited among the people
by the occurrences ofe1he last few wears.
assures us that they expect from their rem.
resentatives, and will sustain them in the
Exercise of, the most rigid economy.
Much can be effected by postponinp
appropriations not Immediately required.
for the ordinary public service, or for any
pressing emergency; and much bv redn.
chg the expenditures where the entire and
Immediate accomplishment of the objects
in view IS not Indispensable
When we call TO mind the recent and
extreme embarrassments produced by ex-
cessive issues of bank paper, aggravated
b. the unforeseen withdrawal of much for
egn capital, and the inevitable derangc-
mcnt arising from the distribution of the
surplus revenue among the States as re-
CURED by Congress; and consider the
heavy expenses incurred by the removal
Of Indian tribes; BY the military operations
in Florida and on account of the unusually
large appropriations made at the last two
annual sessions Of Congress for other obs
iects; we have striking evidence in tie
present efficient state ofou finances. Of
The abundani resources Of the country ito
fulfil al lis obligations. Nor is il less
gratifying TO find that the general business
of the community deeply effected asst has
been. is reyiying with additional ylgor,
By the lessons OF the past, and
by the hopes of the future. By
The curtaiiment of paper issues; y cur3ing
the sangune aud adventurous spirit OF
speculation: and by the honorable appli-
cation ofah available means TO the iul6i-
ment of obligations, c niilence has been
restored boh at home and abroad, and
ease and facility secured 10 all the opera
lions of trade.
The agency of the Government in pro-
ducing these results las been as efficient
as lis powers and means permitted. Bv
from The States The deposile
OF the fourth instalnent, and leaving Sc
veral millions "A, long credits with the
banks, principally in one section of the
country, apd more immediately beneficial
to it; and, at the same time, aiding the
banks and commercial communities la
other sections, by postponing the payment
of bonds for duties to the amount of be-
tween four and five millions Of dollars; By
an issue Of Treasury notes rs means 10
enable the Government 10 meet the con-
sequences Of their indulgencies, but afford
ing, at the same time facilities for remit
lance and exchange f; and by steadily
declining TO employ as general depo~
STORIES of the public revenue, or re-
ceive the notes Of all banks which
refused TO redeem them with specie; bv
these measures. aided by the favorable
action Of some of the banks, and by the
support and co operation of 4 large portion
of the community, we have witnessed an
early resumption of specie payments in
our great commercial capital, promptly
followed in almost every part OF the United
States. Thisresult has been alike salutary
TO the true interests Of agriculture, COM
merce, and manufactures; 10 public morals.
respect for the laws, and that confidence
between man and man which is so essen>
tial in all our social relations.
The contrast between the suspension Of
1914 and that of 1887, is most striking.
The short duration of the latter; the prompt
restoration of business; the evident bene.
fits resulting from an adherence by the
Government to the constitutional standard
of value, instead ofsanctioning the suspen,
sion by the receipt of irredeemable paper;
and the advantages derived from the large
amount of specie introduced into the coun-
try previous to 1887, afford a valuable H.,
lustration of the true policy of the Gov
eminent in such a crisis. Nor can the