Vermont telegraph. [volume] (Brandon [Vt.]) 1828-1843, 1838-12-12

YOU that, since the close of your last
session, these relations have been
opened under the nappiest auspices with
Austria and the Two Sicilies; that new
nominations have been made in the respec-
tive m .ssions ofRussia, Brazil, Belgium,
and Sweden and Norway, in this country
and that Minister Extraordinary has
been received, accredited to this Govern
ment from the Argentine Confederation.
An exposition of the fiscal affairs otthe
Government, and of their condition for the
past year, will be made to. you.by the Sec
rotary Of the Treasury.
The available balance in the Treasury, |
on the LIST of January next, is estimated at
S2,765,342 The receipts of the.year,
from customs and lands. will probably
amount TO S2O,6l5,598. These. usual
sources ofrevenue have been increased by
an issue of Treasury notes. of which less
than eight millions of dollars, ncluing in
terests and principal, will be outstading at
the end Of of the year. and by the sale of
one ofthe bonds of the Bank of the United
States, for $2,254,87l. The aggregate of
means from these and other sources, with
the balance on hand on the first of Janua-
ry last. has been applied to the payment
appropriations by Congress. The whole
expenditure forthe year on their account,
including the redemption of more than
eight millions of Treasury notes, const-
tutes an aggregate of about forty millions
: of dollars. and will still leave in the Treas
lry the balance before stated.
Nearly eight millions of dollars of
, Treasury notes are to be paid during the
coming'year, in addition tolhe ordinary ap-
propia.ions for the support of the Govern
e ment. For both these purposes, the re-
e sources Of the Treasury will undoubtedly
be sufficient, if the charges upon it are not
S increased beyond the annual estimates.--
: No excess, however, is likely to exist nor
can the postponed insta!ment of the sur
plus revenue be deposited with the States,
! nor any considerable appropriations be-
S yond the estimates be made, without
5 causing deficiency in the Treasury
5 The great caution. advisable at all times,
of limiting appropriations 10 the wants Of
:, the public service, is rendered necessary
= at present by the prospective and rapid
reduction Of the traffi'; while the vigil
e ant jealousy evidently excited among the
people by the occurrences of the last few
d years, assures US that they expect from
e their representatives, ard will sustain
S them in the exercise Of the most rigid
e economy. Much can be effected by post
q poning appropriations not Immediately
! ! required for the ordinary public service,
v or for any pressing emergency ) and much
i by reducing the expenditures where the
e entire and immediate accomplishment of
t, the objects in view is not indispensable.
When we call to mind the recent and
y extreme embarrassmenls produced by ex-
{ cessive issues of bank paper, aggravated by
); the unforeseen withdrawal of foreign capt.
Il tai, and the inevitable arrangement arising
from the distribution Of the surplus revenue
Al among the States as required by Congress
81 and consider the heavy expenses incurred
I, by the removal of the Indian tribes; by the
u military operations IN Florida; and on &C
~ count of the unusually large appropriations
~ made at the last two annual sessions OIL
u Congress for other objects; we have strik
~ ing evidence, in the present efficient state oil
our finances, OF the abundant resources d
It the country to fulfil all its obligations. No
x is it less gratifying to find that the genera
es business of the community deeply affected
n as it has been, is reviving with additional
Ill vigor, chastened by the lessons Of the past
n and animated by the hopes of the future
: BY the curtailment of paper issues; By
curbing the sanguine and adventurous spirit
- of speculation. and by the honorable appli
y cation of all available means to the fulfil
st ment of obligations, confidence has beer
to1 restored, both at home and abroad, and ease
rs and facility secured to all the departments
Of OF trade.
al The agency of the government in pro
m duclng these results has been as efficient a:
N Its powers and means permitted. By with
l. holding from the States the deposits Of The
o. fourth instalment, and leaving several mill
y ions at long credits with the banks, princi
m pally in one section Of the country, ant
of more Immediately beneficial to it; and, a
the same time, aiding the banks and com
Of mere,al communities in other sections, BY
ps postponlng the payment of bonds for dutie:
l. 10 the amount Of between four and fiv,
a millions OF dollars, by an issue of Treas
- ury notes as a means TO enable the govern
!, ment TO meet the consequences Of thei
IN lndulgencies, but affordng at the same time
es facilities for remittance and exchange ant
lie by steadily declining to employ as genera
repositories OF the public revenues, or re
H. ceiVe the notes of all banks which refused
;, 10 redeem with specie; by these measures
- aided by the favorable action of some of tn,
10 banks, and by the support and cooperation
+ OF large portion Of the community, w.
lie have witnessed an early resumption of spe
IL Gle payments In our great commercial capi
I'd tai, promptly followed in almost every par
of of the United States. This result has beer
n alike to the true interests Of agriculture
commerce, and manufactures; to public
r. morals, respect for the laws, and that conf
~ dence between man and man which is s.
ne essential in all our social relations.