Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1839-12-27

Porn Rolivan Confederation may occasion some tenn
e porary inconvenience to our citizens IN that quarter
. but the obligations on the Governments which
have arisen out of that Confederation to observe It's
reaty stipnlations will doubt be soon understood,
and i is presumed that no indspositon will exist to
fulfil those which it contracted with the u ;
The financial operations of the Government during
the present year have, happy to say, been very
successful The difficulties under which the treasury
Department has labored from known defects IN the ex-
stng laws relative to the safe keeping OF the pubic
moneys aggravated by the suspension OF specie pay
ments BY several of the Banks holding public deposltes
or indebted public officers for notes received IN pay
ment for public Dues have been snrmounted to very
gratifying extent The large current expenditures have
been punctuay met, and the faith OF the Government
in all it's pecunary has been scrupulously
E maintained.
The nineteen millions of Treasury notes authorized
bv The act of Congress of 1887 and the notifications
thereof with view TO the indulgence OF merchants on
their duty bonds and of the depose banks in the pay
ment of public moneys held by them have been so
punctuay redeemed as to leave less than the original
ten millions outstanding at any one tne and the whole
amount unredeemed now falls short OF three millions
OF these the chief portion IS not due TIL next year. and
the whole would have been already exngushed could
the Treasury have realized the payments due TO it from
the banks If those due from them during the next
year shall be punctuay made, and II Congress shall
keep the appropriations within the estimates, there IS
every reason to believe that all the outstanding Trea
sury notes can be redeemed, and the ordinary cSpen
scs betrayed, without imposing on the people any ad-
ditiona burden, either OF loans or increased taxes
To avoid this, and TO keep the expenditures within
E reasonable bounds, duty second ony Importance
TO the preservation ofour national character and the
protection of citizens in their civil and political
rights The creation, in time of peace, of debt likely
10 become permanent, is evil for which there is no
, equivalent The rapidity with which many of the
States are apparently approaching to this condition. ad-
= monshes Of our own duties, in manner too I'M
: pressve to be dsrcgarded. One, not the least i'm
a. nortant is to keep the Federal Government always in
with an1v VII its Uh-
est functions, should their exercise be required by
ri any sudden conjuncture Of public atfarsa condition
. to which we are always exposed, and which may &C.
cur when it least expected To this end, 1t IS ndis
pcnsable that its finances should be unrammelled, and
Ii its resources far practicable, unincnmbercd.
No circumstance could present greater obstacles to the
accomplishment Of these vitality important Objects than
q the creation of national debt. Our
perence and also that of other nations, have demon
strated the unavoidable and fearful rapidty with which
!. public debt is increased, when the Government has
once surrendered itself to the runous practice of sup
). plying its supposed necessities by new loans. The
l. struggle therefore, our part to be successful, must
be made at the threshold To make efforts efec
tive Severe economy necessary. This is the surcs
u provision for the national welfare and is, at the
time the best preventative of the principles which
our institutions rest Simplicity and economy in the
affairs of State have never failed to chasen and lnv
70 gorate Republican principles, while these have been
10 surely subverted by national prodgay, under whatc
t. yer specous preexts it may have been introduced OF
as fostered
r. These considerations cannot be lost upon people
who have never been nattentve to the effect of their
policy upon the institutions they have created tor them
selves bu at the present moment their force is aug
~ mented BY the necessity which decreasing revenue
le must impose The check lately given TO imporations
Of articles subject to duties, the arrangements in the
operations of internal trade and especially the reduction
In gradually taking place in tariff of duties, all tend
materially to lessen receipts; indeed 1t 10 probable
that the dninuton resulting from the last cause alone
II will not f short of FIVE millions of dollars in the year
IS42 as the final reduction of all duties to twenty per
: cent then takes effect The whole revenue then
a cruino from the CUSTOMS and from the sales OF public
lands not more will undoubtedly be wanted to defray
r, the necessary expenses of the Government under the
~ most prudent administration Of It's affairs These are
circumstances that impose the necessity ogld ccono
70 nv and require its prompt and constant exercise
With the Legislature rest the power and duty OF SO adj
le usng the public expenditure as to promote this end
By the provisions Of the Constitution, it only IN con-
70 sequence of appropriations made by law that money
of can be drawn from the Treasury instance has
of red since the establishment Of the Government which
Is the Executive, though component part OF the Legs
or latvc power has nterposed objection to an appro
priation bill the sole ground of its extravaganza
ur His duty in this respect has been considered fulfilled
BY requesting such appropriations only as the public
he service may be reasonably expected to require In Tho
present earnest direction of the public mind toward
i'll this subject both the Executive and the Legislature
IS have evidence of the strict responsibility which the,
IL will be heidi and while am conscious of my owl
of anxious efforts perform with fidelity this portion
my public functions, it satisfaction TO me to be ab
ms TO count n cordial cooperation from you.
it At the time entered upon my present duties, on
ordinary Decentralization including those oil
tn of the public debt the post Office and the rus
ii. funds in charge of the Governmen-had been arge,
d. increased by appropriations for the removal of th
Sc Indians for repellne Indian hostcs, and for ohe
~ less urgent expenses which grew out of an orcrown
NJ. Treasury Independent of the redemption of the public
debt and trusts the gross expenditures Of seventeen
and eighteen millions in 1884 and 1880 had BY thes
At causes swelcd 10 twcntynne millions in lc6 and TIT
r. appropriations for 1887 made previously to the four
is of March, caused the expenditure TO rise to the ver
IT. large amount OF rtythee millions We were enabled
nu during the year 1898, notwithstanding the contnuanc
of Of Indian embarrassments somewhat to reduce TIN
We amount and that for the present year, 1882 will not
or all probability exceed twcntysix mlIons-or SIX mil
ri. lions less than il last year With determination
DIS far depends me, to continue this reduction,
nd have directed the estimates for 1910 TO be subjected
the scvecs scrutiny and to be limited to the absolute
"a requirements Of the public service They will be onn
1T. less than the expenditures Of 1a39by five million
nd of dollars
lat The precautionary measures which will be recon-
H. mcnded by the Secretary of the Treasury, to protec
ia. faithfully the public credit under the fluctuations ant
contingencies to which receipts and expcndi
n lures exposed and especially in commercial crl
p- sis like the present, are commended to your earl.
Of attention.
lat On former occasion your attention invited 1
co various considerations in support of presumption Law
at in behalf of the settlers on the public lands; and also
e. law graduating the prices for such lands as had lon
U been in the market unsod in consequence of their in
m. crior quality The execution of the act which wa
fl passed on the first subject has been attended with tn
ST. happes consequences, quoting titles and securing
he improvements to the Industrious and has also, TO
very gratifying extent, been exempt from the fraud
which practised under previous Exemption laws
H. Ii has at the same time, anticipated, contr
US bued literally during the present year the receipts
y the Treasury.
n The passage of graduation law, with the guard
nd before recommended would also, am persuaded, ad
considerably the for several years. and
ms in other respects just and beneficial.
Your early consideration Of the subject is therefore
ch once more earnestly requested.
The present condition of the defences Of primo