Constantine republican. [volume] (Constantine, Mich.) 1836-1838, 1838-01-03

contents and considering the spirit nantes
ted by the Mexican Government, it has be.
come my painful duty to return tho subject,
ms it now stands, to Congress. to whom i
belongs, 10 decide upon the time, the mode
and the measure Of redress. Whatever
may be your decision, it shall be faithfully
executed, confident that it will be character.
lied by moderation and by that justice
which will trust, under all circumstances,
govern the councils of our country.
The balance in the Treasury on the LIST |
day of January, 1897, was ss45, 1908, 1923. |
The receipts during the prcs1t year from
all sources, including the amount of Treas
urv notes issued, are estimated at ES23,490-
8sl, constituting an aggregate 800 ,46s,504
OF this amount, about S35,2Sl 1851 will
have been expended at the end Of the year
on appropriations made by Congress and
the residue amounting to 1874, ls7, 143, will
he the nominrl balance in the Treasury on
tho first day Of January next. But of that
sum, only 1885, 96 is considered available
for, and applicable TO, purposes. Those
portions of It which will be for some time
unavailable, consist chiefly of sums deposi.
ted with the States, and due from the for
mer deposite banks. The details upon this
subject will be found in the annual report of
the Secretary ofthe Treasury.
The amount of treasury notes, which il
will be necessary to issue during the year
on account of those funds being unavaila.
bic, will, it is supposed, not exceed four
and half millions. 1t seemed proper, in
the condition Of the country, to have tho es.
Inmates on all subjects made as low as prac.
ticabe, without prejudice to any grea. pub
lie measures. The departments were
therefore. desired to prepare their estimates
accordingly, and am happy to find that
they have been able to graduate them on so
economical scale. In the great and often
unexpected fluctuations to which the revc.
nue. is subjected, it is not possible to CON-
putc the receipts beforehand with great
certainty !; but should they not differ essen.
TALLY from present anticipations and should
the appropriations not much exceed the es.
Inmates, no difficulty seems likely to hap
pen in defraying the current expenses with
promptitude and fidelity.
Notwithstanding the great embarrass.
ments which have recently occurred in
commercial affairs, and the liberal indul.
gence which, in consequence of these EN-.
barrassments has been extended to both
the merchants and the banks, it is graft.
flying to be able to anticipate that the Treas.
ury notes, which have been issued during
the present year, will be redeemed. and
that the resources of the Treasury, without
any resort to lonas or increased taxes, will
prove ample for defraying all charges i'm.
posed on it during 1888.
The report of the Secretary of the
Treasury will afford you more minute
exposition Of all matters connected with the
administration Of the finances during the
current year; period which, for the a.
mount of public moneys distributed and de.
posted with states, as we'll as the financial
difficulties encountered and overcome, has
few parallels in our history.
Your attention was, at the last session,
invited TO the necessity Of additional legis-
lative provisions in respect to the collection
safe.kecpng and transfer Of public money
No law having been then matured, and not
understanding the proceedings of Congress
as intended to be final, it becomes my duty
again to bring the subject to your notice.
On that occasion three modes ofperfor.
ming this branch Of the public service
were presented for consideration. They
were the creation Of National Bank, the
revival with notifications, Of the deposite
system established by the act of the 23d of
June, 1886, permitting the use of the pub.
lie moneys by the banks ; and the discon.
tnuance of the use Of such institutions
for the purposes referred to, with suitable
provisions for their accomplishment through
the agency of public officers. Consider.
ing the opinions Of both houses of Con.
gress on the two first propositions as ex.
pressed in the negative, in which entirely
concur, it is unnecessary for me again TO
rccur to them. In respect-to the last, you
have had an opportunity, since your ad.
journment, not only to test still further the
expediency of the measure, by the contin.
ued practical operation of such parts Of il
as are now in force, but also to discover
what should ever be sought for and regar.
ded with the utmost deference--the opin.
ions and wishes of the people.
The national will is the supreme law oil
the Republic, and on all subjects within the
limits of its constitutional powers, should be
faithfully obeyed, by the public servant
Since the measure in question was submit.
ted TO your consideration, most of you have
enjoyed the advantage of personal commu.
nication with your constituents. For one
state only has an election been held for the
Federal Government but the early day q,
which it took place, deprives the measure
under consideration of much of the supper,
it might otherwise have derived from the
result. Local elections for State officers
have, however been held in several of the
States, at which the expediency of the plan
proposed by the Executive has been more
or less discussed. You will, am conf.
dent, yield to their results the respect due
TO every expression of the public voice.
Desiring, however, TO arrive at truth, and a
just view Of the subject in all its bearings,
you will at the same time remember, that
questions Of far deeper and more immedi.
ate local interest, than the fiscal plans OF
the National Treasury, were involved in
those elections.
Above ALL we cannot overlook tho striking
fact, that there were at the time in those states
more than one hundred and sixty millions of bank
capital, Of which large portions wcro subject to
actual forfeiture-other large portions upheld
only by special and limited Legislative indulgen.
cics-and most of il. If not all IN , oro.ta. o.