The Madisonian., 1840-01-04
THE ANNUAL TREASURY REPORT.

THE ANNUAL TREASURY REPORE
We have made several attempts 10 pene-
trate this ponderous document, but owing
either to the abstruseness of Treasury science,
or the obtuseness Of our own intellect, we
have not yet completely succeeded. We
have entered only the outskirts, and just far
enough to behold the dense mass fog filling
the heart of the Beolan Territory ahead.
The first thing that strikes US, is, estimates
/" exclusive Of Post Office" from which we
infer, what is admitted by the President, and
is now generally known that, the Post Master
General has an Independent Treasury Of his
own. The revenue of the Post Office De-
partment does not go into the " Treasury of
the United States" as required by the Post
Office Law Of 1896, but into vaults, safes,
drawers, and hydros,atic balances provided by
the Post Master General himself upon the In
dependent Treasury plan, where il is subject
to that "entire CONTROL" many people
dearly love to have Of the public money. In
this Independent Treasury there is " according
to the latest reports" $2O6,70l 95, which is
not included in the estimate Of receipts made
by the Secretary Of the Treasury. The sur
plus Of the Post Office Department is subject
to the drafts of Amos Kendall, Esq, who
manages his department in his own way
upon the Independent plan, contemplated"
if not by the Constitution, at least by the
Heads Of Departments.
| But first, the aggregate means for 1899, Of
that moiety of the United States Treasury
over which Mr.. Woodbury. exercises control,
were s37.2l7,sl2.
Secondly, the aggregate expenditures Of
chat Department for 1889, were S35, 5,66l ,427
Thirdly, the "available balance of money
in the Treasury on the 5lst of December,
1897 is sl,556,ss4.
Fourthly, the moneys necessary for the SER
vice of the next year, are estimated to amount
to at least s3l i, l52, LOG, of which it is COM
puted that s2O,OoO,O 600 will be expended NTH
IN that year for ordinary purposes. or two mil
lions and three-fourths more, including the re-
demption of Treasury Notes.
FtMly, to meet this expenditure, the Gus
toms, land sales, and miscellaneous services
are estimated to amount within the year to
| 81 8,6O0,O00, and, with the balance estimated
to be in the Treasury on the lst January 1910,
to constitute the sum Of s2o,l56,3 1885, as
/" the efficient means" for 1910.
Sirfhly, the amount of imports and exports.
The amount Of Exports for the year ending
September 80, lS39,is estimated to have been
sl 1888, 900, being an excess over those Of
1898 Of SO s72, ,3sS OF the whole exports,
only Sl7,40S, 900 were of foreign origin. The
Imports for the same period are estimated TO
have amounted TO about 1857, 700, 900, being
an excess to the large extent of ss43,S92, $50
over those during the previous year.
II will be perceived that the expenses Of
this Government for the last year, being the
Van Buren,, were really Muty,foc millions Of
dollars.
1t will be also perceived and recollected
that the deficient means" of the Treasury
for 1910, are estimated at only $50, l56,3s5,
and that the expenses of the Government,
or charges upon the Treasury, for this now
current year, amount to upwards OF thirty
one millions Of dollars. Consequently, of
course, the Government is unable to pay the
4th nstalment to the States, which it pledged
itself to pay in October, 1887.
And the Secretary tells us that if the pro-
ceeds of the public lands should be given away
how by deposite with the States, already
done, by Gen. Jackson by cession to the
new States, as proposed by Mr. Calhoun, or
by division among all the States, as proposed
by Mr. Clay)-thc deficiency must be made
up by the unpleasant alternative Of loans or
increased taxation.
There is whining. tone in this document;
a spirit Of apprehension and alarm. We pre-
dict that the estimates Of receipts, without
change of laws, are too high, and the esti-
mates Of expenditures too low, for 1910;
and that the Department will We obliged either
TO call for an increase Of the tariff, or an ad-
dtional issue Of Treasury notes.