The Madisonian. [volume] (Washington City [D.C.]) 1837-1845, 1841-05-22
THE MADlSONIAN.
STATE OF THE FINANCES AT THE
CLOSE OF THE LAST ADMINS
TRATION.


CLOSE OF THE LAST ADMINS
TRATIoN.
MR.. BELLS SPEECH ON THE SUBJECT.
Having done a little at this in our last we have
thought il worth while to notice Mr.. Bell's speech
BY itself, as it is of peculiar simplicity, per-
spicuity, comprehensiveness, and we think fair
ness. For these reasons we have judged it of
sufficient importance to call attention to it sepa
rately, rather than to mix il up with other exhib-
its Of the same class. OF course we cannot
quote from il at length, as it occupies nine and
q half close columns in the National Intelligen-
Ger. Our object is to present condensed COM
prehensive view Of the more forcible points.
Mr.. Bells aim was to show, not only what
was necessary to be done, in existing circum-
stances, in reference to ways and means for
184l, but also for 1912, and that Congress was
at that moment called upon TO act with that view,
in order to supersede the necessity of an extra
session. This, we think, will be found TO be a
defensible and statesmanlike position. In the
present state Of the country and Of the finances,
itwould certainly be very un-statesmanlike to
venue are destined to be subtracted from al and
Az by the limitations Of the Tariff Of 49, Where
is the substituted In the present poverty Of the
Government, can the substitute be dispensed
with? m
1t is aremarkable fact, that the advent of the
present administration makes the second in our
history, after the lapse of forty years, when the
Government coming in has been obliged TO de-
pend on the financial provisions of political OPP
ponents. The evaporation Of defeat in the
present instance seems to have stirred up tenn
per among the leaders Of the late dominant par
~, too well disposed to embarrass their success
sors in power, in all possible ways and among
the rest by leaving them without the means of
carrying on the Government Of the country
This, manifestly, is not very patriotic; never
theless, it is very natural to the pravites Of our
nature in such circumstances, and the vice in
this case seems to have got the better Of the
virtue \
AS we cannot make room for all the state
ments by which Mr.. Bell supports his conclu-
sions (and we beg leave to say they appear to be
very clearly and fully supported by detail of all
the appropriate component elements I'VE will
announce the result on his authority. He says,
There can scarcely be doubt that the real de-
fciency in the Treasury during thepresent year,
(1841) if the credit and justice of the Govern
ment be properly upheld, will not.fall short Of
$l5,OOO,OOO.n Us
And il is remarkable, that this result is made
out from the late Secretary's MIR. Woodbury's)
own statements, thoroughly sifted, and sepa-
rately and comprehensively considered. The
only item on which difference is made on the
grounds of probability are those Of futurere
venue in the expected receipts from customs and
land sales, The first Of which Mr.. Woodbury. put
down at SIS 100000, and the second at $780,
600 Tor 1s41. Mr.. Bell gives very satisfactory
and convincing reasons to show, that the receipts
from customs for this year cannot safely be rel-
ed upon for more than $16,5OO,00O, and those
from lands for not over $2,5OO,OOO This was
the aspect Of things on the 10th of January last.
Since that time events have occurred not only
10 justify this reduction, but to make it still
greater. ag."
All the other items are determinate in their
nature, and furnished from Mr. Woodbury's
own documents. Mr.. Woodbury. assumes, that
the unapplied appropriations will be nearly or
about the same at the close of 1S41 as of 1910.
that is, about $10,OOO,O00 The precise sum.
at the end Of 1910, is stated at $lO4l1, o27.-
But Mr.. Bell says, ''of the ten million and IN
wards of these balances which appear from the
Treasury statements to have been outstanding
at the close Of 1910, the largest porton--in fact
nearly all Of them-were specifically chargeable
upon the year 1910. From the same statement.
il appears that upwards Of sur millions Of dot
lars Of the entire amount have been ezpended
or applied to the service Of the last year. but the
payments therefor have not been demanded or
made from the Treasury. They therefore
continue to be legal charge upon the present
year till paid, They are mortgaged." Of the
remainder of this ten millions and upwards,
more than three and half millions remain
to be expended or applied to the objects for
which they were originally appropriated, and are
as binding on the Executive to be thus applied,
as though they were made specific charge on
1s4i." All this is gathered from Mr.. Woodbu-
ry's own official documents, and yet ne takes