The Hillsborough recorder. [volume] (Hillsborough, N.C.) 1820-1879, 1838-12-13

csssress. Tie .shei. expenditure Zoe
The yrsr 90 heir sreouni. including lhe
rsdeaplirn II nore Ihsn eight millions 81
treasury nnlts. constitutes an ssrrrgsle NJ
about i.fly sillions u dollars. aud = IN
sIlil Rave in lie treasury tie balance be-
iarr srslsd. --,-...
Nearly eight miilions II dollars Of
! treasury notes are 10 be paid during the
coming ssar. in addition In he ordinary
! appropriations f.r lhe supper, Of govern
J mshi. Tor both these rurposrs. the re-
sources Of Ihs treasury sill uahOuhisdly
b. sufheiehi, il The charges upon IL are
mot increased beyond tie annual estimates.
J No excess. hassvsr. Is liksiy 10 eGi.l;
nor can The postponed iassslnsnl pf rhs
J surplus rs'rnue be deposited with the
states. nor any considerable appropria
lions beyond Ihe estimates be made, With
out causing deficiency in the Treasury.
The great caution, advisable II ell times.
Of limiting appropriations TO the Man!s II
the public service. 10 rendered necessary
J ii present BY the prospective and rapid
reduction Hf the tariff; while The Eigilsni
Jealousy. evidently excited among the
people by The occurrences "f The last few
years. assures us that they expect IRON
their Representatives, and Will sustain
them in the exercise 81. the most ngid
economy. Much can be effected by post
ponlng appropriations not Immediately
required for The ordinary public service.
OF for any pressing emergency: and much
BY reducing The expenditures where the
entire and immediate accomplishment of
The objects IN view 10 not indispensable.
When we call tn mind The recen, and
extreme e@barrassments produced BY ex-
cess,,e issues 81 bank paper. aggravated
! by The unforeseen withdrawal al much
Gurtisn capital. and the inevitable tcraage.
meat arising from ihs dtslr,buu"n ii lhs
surplus reyeBue amnng the states a, IA
quTrd BY Congress; AID CONSIDER ,hr
heavy expenses incurred by the removal
. oi Indian Tribes; By Inc military opera
! iions in Florida; and on account 81 thr
, unusually large appropriations made al
The last Two annual sessions 0f Congress
for other objscIs, we have striking evI-
dence, in the present efficient state 81 our
| finances, Of the abundant resources OF the
county 10 fulfil all its obligations. Nur
10 il less gratifying To find IlIst The gene.
. ral business Of the community, deeply sf.
, lecied as il has been. Is rsvivIng with adj
I dilinnsl Signr, ehaslened BY the lesson,
. uf the past, and animated by the hopes ol
0 the future. BY the cuuaIl,nenl Of paper
I issues; by curling the sanguins and ad.
veniurous spirit Of speeuIat,on; and by
= the honorable application Of all available
j. means to the fGlilmsni cf obligations
r confidence has bsen restored bnih at HON,
s and abroad. and ease and facility secure,
r to all the operations Of trade.
9 The agency Of the government in pro
/. during these results has hscn as efficien
{ as its powers and means permiued. By
withholding from the states The deposits
E Of IRE i"uf;h iasia,ment. and leaving Sc
seroa.miiilons al long credits with The
. banks, principally in aGe sfeiiuH o! th'
b country, and nnte immediately beneficial
: to il; anil. al the cane time, aiding Oh,
, banks aud commercial communities IL
: other sertions. By postponIng The pay
: men, af bonds Tor duties to the amount o
4 between four and five millions Of dollars
e BY an issue Of treasury notes as mean:
n to enable the government, to NEE, the con
sequences Of their lndulgences; but afford
, ing. at the same time. facilities for remit
: lance and exchange: and by steadily de
( clining In employ as general depnsilorie'
r Of the public revenues. or receive tn
: nu,es Of al banks which refused to re
E deem them with specie: BY these mea'
sures, aided by the favorable action q
= some of the banks, and by the support
= and cooperation at large PARTON Of the
{ community. we hare Witnessed an early
. resumption Of specie payments in out
: great commercial capital. promptly FOL
1 lowed in almost every peri OF the United
: SAFES. THIS result has been alike ssln'
tary 10 the true interests al agriculture
, commerce and manufactures; To public
morals. rsspec, for the laws. and rha
. confidence between man and man which
is 81 essential in all our social relations.
/ The contras, between the su,Psnslsr
. Of 1914 and that of 1887 is most striking
The short duration of the latter; thc
, promp, restoration Of business; the esi
: dent benefits resulting from an adherence,
, By the government to the constitutions
standard of value, instead Of snnc,ionin,
the suspension by the rsceip, ofirredeem
. able paper; and tho advantages derived
, from The large amount of specie inirodHe
, ed INTO the country previous 10 1897. IF
fard valuable ILLUSTRATION Of the true Po
Icy Of the government in such crisis
I nor can the coWparisun fail to remove lh'
impression that national bank ~ neces
, sary ia such emergencies. Not only
we're specie payments resumed wiIhou
its aid, bu, exchanges have also been NOR
, r,oidl, restored than when II existed