The Hillsborough recorder. [volume] (Hillsborough, N.C.) 1820-1879, 1841-06-10

There win fan due within The next,
three months treasury notes Of the issues
Of 1910, including interest, about % $50,
900. There Is chargeable in the same
period Tor arrearages for taking the sixth
census, s294, 900; and the estimated ex-
penditures Tor tie current service are a. |
bout s6,IOO,O 900; making the aggregate
demands upon the treasury, prior 20 the
FIRST Of September next, about ell $40,
900.
The WAYS and means in tie treasury,
and estimated to accrue within the above
named period, consists Of about s694 900
OF funds available on the 2sth ultimo; an
unissued balance of treasury notes antho-
lied BY the act OF 1871, amounting 70
81 ,955, 900, and estimated receipts from
, all sources Of 50, 500, 900; making an ag-
gregate of about s6.45O,OOO, and leaving
a probable deficit ON the first Of Septem-
Der next Of s4,s45.OOO.
\ In order 10 supply The wants Of the
Government. an inlelligen, constituency,
in view Of their best Interests, viii. with.
out hesitation. submit TO al necessary
burdens. But IL is nevertheless impor-
iani TO avoid defeating ihe just expects.
lions OF the country. growing oui Of pre-.
existing laws. The ael ofihe 2j March.
1893. commonly called The compromise
sci. should not be altered except under
urgent nseessilies. which are not believed
al This lime 10 exist. One year only re-
J mains 10 compleIe The series Of reductions
: provided for by that Law. al which time
provisions made by the same law, and
which then will be brought actively il
aid Of The manufacturing interests Of the
9 Union. will not fail 10 produce The mos
9 beneficial results. Under . system o
: Discriminating duties imposed for purpos
4 &c Of revenue. IN unison with The provi
+ sions Of existing laws, IL is 10 be hop
g ed that our policy viii, in the future. b
l. fixed and permanent. 90 - 10 avoid ihos
= constant fluctuations which defeat the Va
IS ny objects they have in view. We shsl
{, thus best MAINTAIN position which. Will
d il will enable Us the more readily To NEE
IS the advances Of other countries calculate,
II 10 promote our trade and commerce. vii
l. al The same time leave in our own hand
;, The means Of resalisiing with greater efsc
N unjust regulations.
nj In intimate c0nnexion with the que.
lie ton of revenue is that which makes Pre-
vision for a suitable Zeal sgen, capable I
he adding increased facilities in the colleclio
> and disbursement OF the public revenues
f. rendering more secure their custody. an
n consulting true economy in the gre
ce multiplied and delicate operations Of II
III Treasury Department Upon such .
s, agen, depends. in an eminent degree. Il
at establishment Of currency Of uniior
Of value. which is of so grea, importance
is all the essential interests of society; al
nd on The wisdom 10 be manifested in
Id creation much depends. So iniimats
e; interwoven are its operations. not On
ne with the interests Of individuals, but wi
%. those of The States. that il may be :
IS, garded in a great degree as controllil
O. both. If paper be used as the chief N
~ Jium Generalization, and The power be yes
Mt ed in the Government Of issuing il
IL pleasure. either in the form of Treasur
drafts or any other, or il banks be used |
It. the public deposi,ories. with liberty to r
he gard all surplusses from day to day as {
he much added to their active capital. prizes
70 are exposed To constant fuctustions, an
). industry to severe suffering. In The on
y case, political considerations. directed
Is party purposes, may control. while exee'
err sive cupidi,y may prevail in the oihel
lie The public is thus constantly liable
c. imposition. Expansions and contraction
t, NAV follow each other in rapid sue
n ces.ion, the one engendering a rockies
I. spiri, of adventure and speculation. who
, embraces States as well as individuals
h the other causing fall in prices, and &C
1, eomplishing an entire change in The as
r nee, of affairs. Stocks of all kinds rapid
d ly Observation-Disclosures are ruined, ant
i States embarrassed even in their efforts Il
0 meet with punctusluy the in,eresion ihci
d debts. Such, uuhappily, is the STATE o
d things nov existing in lae United States
,fl These effects may readily be traced Il
g the causes above referred H.. The pub
lie revenues, on being removed from the
v then Bank OF The United States. under AZ
!. order of q late President. were placed
4 in selected State. banks. which, sctualet
Il BIZ The double motive Of concilis'ing the
) Governmen, aud sugmen.ing their profit.
o 10 the creates, possible extent, enlarged
e ex,ravssan,ly their discounts. thus ensb'
r ling oil other existing banks TO do the
E same. Large dividends were declared
which, stimulating the cupidiiy OF capital
! lists. caused rush to be made to the Leg
# isla,ures of the respective States Tor .,
/ milar acts Of Incorporation, which, by
! may of the States. under temporary IN
! f.,oa,ion, were readily granted. and thu
\ the augmentation Of the circulating me
y dunn. consisting almost exclusively o
|. paper. produced a most fatal tslos:on
IL.