Lexington union. (Lexington, Miss.) 1838-18??, 1840-01-24

'"fFy w ga uCCDs NCFV SUCCESSFUL. \ ne
.dilhcultles under which the Treasury De
partmcnt has labored from known defects
IN the existing laws relative 10 the safe
keeping Of the public moneys, aggravated
by the suspension Of specie payments by
several OF The banks holding public depcs.
ties, or indebted 10 puLlic officers for notes
received IN payment Of public dues, have
been surmonnted to very gratifying ex-
tent. The large current expenditures have
been punctualy met, and the faith Of de
government in all ito pecuniary concerns
has been scrupulously maintained.
The nineteen millions Of Treasury notes
authorized by The act of Congress- of 1897,
and The notifications thereof, with view
TO the Indulgence of merchants on their
duty bonds, and Of the dcposie hanks in
the payment Of public moneys held by
them, have been so punatualIy redeemed ms
to leas' lees ttan the original ten millions
outstanding at any one time, and the hole
amount unredeemed now falls short three
millions. Of these the chief portion is not
due 'lll next year, and the whole would
have been already extingnished could the
Treasury have realized the payments due
to II from the banks. If those due from
them duriog the next year shall be pune.
tuaIly made, and il Congress shall keep
HE appropriations within the estimates,
there is every reason to believe that all
outstanding Treasury notes can be redeem.
Ied, and the ordinary expenses betrayed,
without imposing on the people any add
tlonaI burden, either OF loans OF increas ed
taxes.
To avoid this, and to keep the expendi-
lures within reasonable bounds, is duty,
second only in Importance to the preserva.
ton Of our national character, and the
protection OF oar citizens in their civil and
political rights. The creation, in fine of
peace, Of debt likely TO become para.
mount, is an evil for which there is no
equivalent. The rapiditv with which many
Of the states are apparently approaching to
th's condition admonishes us of our duties.
IN manner too impressive to he disre.
corded. One, not the least important, is
TO keep up the Federal Government always
III condition to discharge, with ease aud
vIgor, its highest functions, should thcn
exercise be required by any sudden con-
junction Of public afars-a condition to
which we are always exposed, and which
may occur when ii is least expected. To
this end, it is indispensable that lis iinauc-
es should be untrammelled, and its Ie-
sources, as far as practicable, unincumber-
cd. No circumstance could present greater
obstacles 10 The accomplishment of these
vitality important objects, than the creation
Of an onerous national debit Our own
experience, aud also that Of other natious,
have demonstrated the unavoidable and
fearful rapidity with which IA public debt
is increased, and when The government
has once surrendered itself to the ruinous
practice Of supplying its supposed necessi.
ties by new loans. The struggle, there
fore, on our part, to be saccesslul; must b.
made al the threshold. To make our ell
forts effective, severe economy is necessa-
ry. This is the surest provision for the
national welfare; and it il, at The same
time, the best preservatyc of the principles
on which our Institutions rest. Simplicity
and economy in the afl,lrs Of state have
never failed TO chasen and inyigorate re-
publican principles, while these have been
MS suIely snhverted by national prodigaity
under whatever specious pretexts it may
have been introduced or iostered
These considerations cannot be lost up.
on people who have never been inatten-
tive TO The effect Of their policy upon the
Institutions they have created for them
selves; but at the present moment their
force is augmented by the necessity which
a decreasing revenue must impose. The
check lately given TO importation Of arti-
oles subject to dnties, the arrangements in
The operations Of Internal trade, and, es-
the reduction gradually taking
place IN our tariff of duties, all tend ma.
.erally to lessen our receipts; indeed it is
probable that the dininution resulting from
he last cause alone will not fall short of
i've millions Of dollars in the year 1924,
IS the final reduction of all duties to TWEEN
y per cent. then takes effect. The VII lie
'evenue then accruing from the custom
md from the sale of public lands, If not
more, will undoubtedly be wanted to defray
he necessary expenses Of the government
lnder the most prudent administration of
Is affairs. These are circumstances that
impose the necessity Of rigid economy and
equire lis. prompt and constant exercise.
With the Legislature rest the power aud
ntY OF SO adinsiinC the nnhlic nYnnnditnre