Edgefield advertiser. [volume] (Edgefield, S.C.) 1836-current, 1840-12-24
Eageheld Court Mouse, S. c., Eecenber 24, 1s4o.


, thiriy-second degree of north latitude
The commission adjourned on the 10th
June last, t. reassemhle on the Isl No
venber, for the purpnse nf establishing ac
, curately the intersection of the thirly-se
conh degree of latitude with the western
bank of the Sabine and uIere'lian lln'
thence to Red River. IL is presumed TIA
the work will be concluded in the preseu
seasDn.
The present sound condition Of their Il
nances, aud The success witt, which EN-
barrassments in regard 10 them, at ln'e
apparently insuruoun'ahle. have beel
overcome. are matters upon which TIT
people and Government of the Unitet
States may we'll congratulate themsel' es
An overilawina Treasury, however il may
be regarded as All evidence of public pros
perity, is seldom conducive 10 The pcrma.
nent welfare OF any people {; and expert
cnce has demonstrated its incon1palihility
with the salu,ary action Of political insti
tuIious like those OF The United Stares.-
Our safest reliance for financial efficiency
and independence. has. or the contrary,
hcrn found 10 consist in ample resources
uucncumbcred with debt and III this re-
spect, the Federal Government occupies a
sipgularIy fortunate and tluly enviable po.
sitiOn.
When | entered upon the discharge oi
my official duties in March, 1897, The acI
for the distribution Of the surplus revenue
was ina course of rapid execution. Nearly
twenty eight millions Of dollars of the pub
lie monies were. in pursuance of its pro-
visions, dcposi,r'l with the Stoles in The
months of January, April, anti July, of
that year. In May, there occurred "A gen.
era suspension of specie payment by the
banks, including with very few exceptions,
those in which The public monies were de-
posted, aud upon whose fidelity The Gov
erument had unfortunately made itself de-
pendent for The revenues which had been
collected from the people, and were indis
pen>ablc TO the public service. This sus.
pension, and the excess in banking and
commerce out Of which it arose, and
which were greatly aggravated by its oc-
currence, made, 10 a great extent, una
valable the principal part of the public
money then on baud suspended the col
lection Of many nIilions acrruine on mer-
chants bonds; and greatly reduced the
revenue arising from customs and the pub
liC IduuS. TlIrsr entrt- have CUutiIIuru ~
operate, in various degrees, 10 the present
period; and, in addition To the decrease IN
the revenue thus produced, Two and a hall
millions oil duties nave becn relinqulshed
by two biennial reductions under the act Of
1888, and probably as much more upon
The importation of iron for rail roads, by
special legislation.
Whilst such has been our condition for
The last four years iu relation to revenue,
we have, during the same period, been
subjected 10 IN unavoidable continuance Of
large extraorlinary expenses necessarily
growing our of past transactions. and which
could nut he Immediately arrested without
great prejudice 10 the public interest. or
these, The charge upon The Treasury. in
consequence Of The Cherokee treaty alone,
without adverling To others arising out of
Indian treaties, has already exceeded FIVE
millions of dollars; that for the prosecution
of measures for the removal of the Semi.
mole Indians which were found in pro-
eress. has been nearly fourteen millions,
and the public buildings have required the
usual sum Of nearly three miIians.
1t affords me, however. great pleasure to
be able to say. lha,, from the commence.
ment Of this perii tn The present day, eve
" demand upon the Government, al home
or abroad, has hern promptly met. This
has heen done, moi only without creating
Il permanent debt, or resort tn addition
al taxalnn in any form, but in the midst
Of steadily progressive reduction of ex-
istns burdens upon the people, leaving
still IL considerable balance Of available
funds which will remain in the Treasury
at the end o! the year. The small amount
of Treasury notes, not exceeding Innr and
a half millions of dnllars. still outstanding,
and less by Iweuty-threc millions thau The
United States have in depusle with the
| States, is composed of such only as are
no, yet done, or have not been presented
for payment. They may be redeemed our
Of HE arcruing revenue, if the expendi
lures do not exceed the amount within
which they may, it is thought, be KEEP,
without prejudice 10 the public interest,
and the revenue shall prove to be as larse
as may justly be anticipated.
Among the reflections arising from the
contemplation of these circumstances, one,
no, the eas, gratifying, is the conscious
ness lha, !he Government had the resolu-
lion and ability To adhere, in every elncr-
gency, to the sacred obligations of law; to
execute all its contracts according TO the
requirements of the constitution, and thus
to present, when mnst needed, n ralying
point, by which the business of The whole
country might he brn'r back To Il SAFE. aud
unvary yins stnudard--a result vitally i'm.
pnrlaut rs well to the interests as To The
norals of The people. There can surely
now he no difference Of opinion in regard
to the incacusahle evils that would have
arisen if the Government, at that critical
moment, had suffered itself TO be deferred
from uphol'Iine the only true standard of
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