Sunbury American and Shamokin journal. [volume] (Sunbury, Northumberland Co., Pa.) 1840-1848, 1841-12-11
In regard to the finances, he SAYS.


ry on the lst Of January last, as stated in the
report Of the Secretary Of the Treasury, sub
miltcd TO Congress at the Extra Session was
&9ST345,U3. The receipts into the Treasury,
during the first three quarters orthis year, from
all sources, amount to $40 l67, ,072 %. The
estimated receipts for the fourth qnarter; a
amount to SD,gi3 095,25, amountingto s30,-
4 40 1877, ard making, witk the balance in
the Treasury, ON the first Of January last, S31,-
397 $3.50. The expenditures for the first
three quarters of this year, amount to SCI, ,73l,-
1867. The expenditures for the fourth
quarter as estimated will amount to $780,
723,7 73 thus making toal Of S32, ,025,O10,-
10; and leaving defcitto be provided for on
the first of January next Of about s621, ,557, 80
OF the loan of twelve millions. authorized by the
lat session, not quite ive and half millions have
been taken. Longer lime i1 recommended for the
balance.
In regard to the revision of the Tariff, he recon-.
mends great moderation md harmony, and says
The slightest duty upon some, might have the
effect Of causing their importation to cease,
whereas others entering eXtcnsvly into the
consumption of the country, might bear the
heaviest, without any sensible dimluuton in
the amount imported. SO also the Government
may be justified IN SO discriminating, by re-
terence TO other considerations of domestic poll
cv connected with our manufactures. So long
as the duties shall be laid with distinct re-
ference o the wants If the Treasury, no well
founded Objection can exist against them. 1t
might be cstecn,e,l desirable that no such aug
mentation of the toy,s .'houd take place as
would have the effect of aHnullng the land
proceeds distribution act Of the last session,
which actis declared to be inoperat.ve the mo-
ment the duties are increased beyoru 2GDe
cent, the maximum rate established by the
Compromise act. Some Of the provisions Of the
act, which viii go into effect on the Both of
June next, may, however, be found exceedingly
nconvenient in practice, under any regulations
that Congress may adopt. | refer more par
ticularly to thatrclatlRg to the home valuation.
The following are the Pre,len : views upon the
topic of inleres, discussed in the message:
At your late session, invited your attention
TO the condition oithe currency and exchanges
and urged the necessity of adopting such mca-
suros as were consistent with the constitution
al competency of the Government in order to
correct the Unsoundness of the one, aud as far
as practicable the inequalities ofthc other. No
country can be in the enjoyment Gifts tGii meas
ure OF prosperity, without the presence of = me
diumofeXchange, approNiInating TO uniformity
. ofvalue. What is necessary as between the
different nations of the earth, Is also important
as Between the inhabitants Of different parts of
oc the same country with the first the precious
metals costltutc the ctie medium Of circulation
and such also would be the case as to the last
/ but fer ii4rcntior5 comparatively modern which
have FURNISHED, in place Of gold and silver, a
experimentation. | Il" Lot propose 20 enter into
! a comparative analysis OF the merits Of the two
systems. Such belonged more properly to the
period Of the introdncion OF the paper system
The speculative philosopher might find induce
ments to prosecute the inquiry, Uut his research,
cs could only lead him to conclude that The pa
per system had probably better never have bcor
introduced, and that society might have beer
much happier without IT, The prSclicei state;
man has very different task To perform. III
has to look at things a. they are-to take then
+ rs he finds thCm-to supply Deficiencies, and Il
prume cxccsses Us far as III HIM les The tsSI
Gf furnishing corrective for arrangements G
the paper medium with us, is almost lncNprcssl
= big great The power eNerted by the State
r 70 charter banking corporations, and which
; having been carried to grcst excess has file
the coentry with, in most OF the States, an II
redeemable paper medium, is an evil which, |
: some way or other, requires corrective. Th
i rates at which bills OF exchange are negotiate
n between dferent parts Of the country, iurnis
l. an index ofthc valus Of the local Substitute +.
i goid and silver, which is, in many parts, so Il
G dcprcciated, rs not TO be received, except at
l. large discount, in payment al debts, OF IN Il
Y. purchase fproIucc. 1t could earnestly be d
,r sired that every bank not possessing themeal
s. of resumption, should follow thc cNumHeoi Il
e. late United States Bank of Pennsylvania, Al
- 90 into liquidation, rather than by refusing
he doro tocontinuc cmbarrassments in the way
he solvent institutions, thereby augmenting /
n difficulties incident to the present condition
m things Whether this GOVERNMENT with d
n regard to the rights of the States, has any po
as or TO cons,rain the banks, eitherto rosur