The pilot and transcript. [volume] (Baltimore, Md.) 1840-1841, 1840-12-10


the unusually large appropriations for 1887 may,
without doubt, independently of the extraOrdi-
nary acquisitions for the public service growing
out of the state of Ou- Indian rela ions, be, IN no
> inconsiderable degree, traced to this SOURCE
The sudden and rapid distribution of the large
surplus then in the Treasury, and the equally
sudden and unprecedentedly severe revulsion in
the commerce and business Of the country, point
ing with uneuing certainty to great and pro-
tracted reduction Of the revenue strengthened
the propriety of the earliest practicable Heduc-
ton of the public expenditures.
But, to change a system operating upon so
large a surface, and applicable to such numerous
and diversified interests and objects was more
than the work of day. The attention of every
department of the Government was Immediately,
aud in good faith, directed to that end; and has
been so continued to the present moment The
Estimates and appropriations for the year 1888
the first over which had any controD were
somewhat diminished. The expenditures of 1889
were reduced six millions of dollars Those of
1910, exclusive of disbursements for public debt
and trust claims, will probably not exceed TWEEN
Ity-two an half millions, being between two
and three millions less than those of the prece-
ding year, and nine or ten millisns less than
those of 1887. Nor has i been found necessary,
in order to produce this result, to resort to the
power conferred by Congress, of postpening car
tain classes Of the public works, except by de-
ferring expenditures for short period upon a
limited portion of them; and which postpone
ment terminated some time since, at the
momsAt the Treasury Department, by further
receipts from the indebted banks, became fully
assured Of its ability to meet them without pre-
JUDGE to the public service in other respects
Causes are in operation which WILL it is believ-
ed justify still further reduction, without in
| Jury to any important national interests. The
expenses of sustaining the troops employed in
Florida have been gradually and greatly reduc-
ed, through the persevering efforts of the War
Department.; and a reasonable hope NAV be en-
tertained that tao necessity for military operations
in that suarter will soon cease. The removal
of the Indians from within our settled borders is
nearly completed. The pension list, one of the
heaviest charges upsn the Treasury, is rapidly
diminishing by death The NEST costly OF our
public buildings are either finished or nearly So
and we may, | Il ,nk, safely promise ourselves
continued exeml ton from border difficulties
The available balance in the Treasury on the
LIST of January next Is estimated at one million
and a half Of dollars. This sum, with the ex-
pected receipts from all sources during the next
year, WILL 1t is believed, be sufficient to enable
the Government to meet every engagement and
leave suitable balance in the Treasury at the
end Of the year, If the remedial measures con
nected with the customs and the public lands here
tsfore recommended, shall be adopted, and the
new appropriations by Congress shall not carry
the expenditures beyend the official estimates.
The new system established by Congress for
the safekeeping of the public money, prescri-
brig the kind Of currency to be received for the
public revenue, and providing additional guards |
and securities against losses, has now been seye-
raj months in operation. Although it might be |
premature, upon an experience OF such limited
duration, to form definite opinion in regard to |
the extent Of its influences in correcting many
evils under which the Federal Government and !
the country have hitherto suffered-especially !
those that have grown out of banking expansions,
a deprecated currency, and official defalcations,
yet il is but right to say that nothing has occur
ed in the practical operation of the system to
weaken in the slightest degree, but much to !
strrng then, the confident anticipations of its
friends. The grounds of these have been hereto
fore so fully explained to require no recapitu-
lation. In respect to the facility and convenience
it affords in conducting the public service, and |
the ability of the Government to discharge thro'
its agency every duty attendant on the collection
transfer, and disbursement Of the public money
with promptitude and success, | can say, with
confidence, that the apprehensions Of those who
felt it to be their duty oppose its adoption have
proved to be unfounded. On the contrary, this |
branch of the fiscal affairs of the Government
has been, and it is believed may always be thus
carried on with every desirable facility and Sc.
cur1ty. few Oranges and improvements in the
details of the system, without affecting any
principles involved in if, will be submitted to
you by the Secretary of the Treasury, and will,
am sure, receive at your hands that attention
to winch they may, on examination, be found to
be entitled.
have deemed this brief summary of OR fiscal
afialrc necessary to the due performance of duty
specially enJoined upon me by the constitution.
1t will serve, also to illustrate more fully the
principles by which have been guided in refer
snce to two contested points in our public policy,
which were earliest in their DEVELOPMENT, and
nave been more important in their consequences.
han any that have arisen under our complicated
md difficult, yet admirable, system of government:
aliude to national debt, and a national bank.
t was in these that the political contests by which
he country has been agitated ever since the adj
'ption of the constitution, in a great measure.
and there is too much reason to an
'rehend that the conflicting interests and oppos-
ng principles thus marshalled, will continue. as
heretofore, to produce similar, if not aggravated,
Coming into Office the declared enemy of both.
have earnestly endeavored to prevent resort
o either.
The consideration that large public debt af-
ords an apology, and produces, in some degree.
necessity also, for resortins to system and ex-
emf of taxation which is not only oppressive ;
hrsughout, but likewise so apt to lead, in the q.
nd, to the commission of that most odious Of all
fences against the principles Of republican ,
;oyernment-the prostitution of political power, ,
onferred fer he general benefit, to the aggran-
izemen O. particular classes, and the gratifca-
ion OF individual cupidiy-is alone sufficient,
Independently of the we lightly objections which {
ave already been urged, to render its creation
nd existence the sources ef bitter and unap- .
cascade discord. live add to this, its newt '
bic tendency to produce and foster extravagant q
expenditures of the public IN oney, by which e
ecessity Is created for new loans and new bur /
ems on the people, and, finally, five refer to the
xamples OF every Government VII ch has exist q
3, for proof how seldom tits that tho SYSTEM, r
fhen ohce adopted and implanted in the policy /
ia country, has failed 10 expand itself, until |
ublic credit was exhaas ed, and the people were
o longer able to endure its increasing wei ght, o
seems impossible to resist the conclusion, thai t
Q benefits resulting from its career, no extent c
conquest, 10 accession of wealth to particular 5