The Madisonian. [volume] (Washington City [i.e. Washington, D.C.]) 1837-1845, 1841-06-05
5,9oO,3O5 OF
5,25l,3ss 30
90
s9,25I,3ss 80
Making an aggregate Of

In another part of this paper the views of the De-
partment to the mode of pIoyldlng for the above
deficit, together with the residue of the existing pub
lie debt, will be presented
From the year 1916 TO 1887, period of q years,
the revenues constantly exceeded the expenditures
The average annual surplus during that time was
81 464 226 81 (see tables and y making aggre-
gate excess of $40, 74S 76i 81 OF this there was
applied to the extinction of the national debt, 2OS,-
1872 1877 A and there was, under the provisions OF
the act of 2d Of June 1885, deposited with the States
1913, I0l GA 81 and there remained on the LIST OF
January 1887 in the Treasury of the United States,
including the 4th instameDt due to the States sur
plus of $l7,i09,473 &c
There were, also, outstanding debts
due and falling due to the Treasury,
arising from other sources thanthose
of the ordinary revenue and which
were paid between the LIST of Janu-
ary, 1887, and 18th CT March, 1871,
to the amount Of (sec statement ID 9,l24, TAI %
There were also issued within that
period and outstanding on the 4th
Of March, lS4l, Treasury notes to
the amount of 5,b4S,5l2 40
Making the aggregate available means
which were IN the Treasury the
LIST of January 1887, and which
came into il prior to the 4th of March,
lS4l over and above the current
revenues 81 ,SS2, I32 bo
From which deduct the amount (less
the trust-funds) remaining in the
Treasury on the 4th of March,
isll 5727ls 46
And there appears excess Of ex-
penjiture over the current revenue---------------
Of $3l ,3l00lf 20
II proper to remark that the entries the books
of the Register of the Treasury, do not always show
the true dates of the receipts and expenditures An
item involved in the above statement Gable d. will
serve to illustrate this fact. The sum of 5l2 l36 ~
was on the 81 and 3i.t Of October lSi0 paid by the
ID - r. h.. ,ttaI Statno lie lagth IN
Armstrong superintendent at Fort Gibson by order
| of the Secretary of War Though this sum was, IN
fact received and expended those days ii did not
find its way into the office of the Register until the
| 4lh of March, 1911, which day appears on his
books both a receipt and an expenditure.
Thus, and 10 this extent within the last four years,
were the expenditures pushed beyond the amount OF
| the revenue They made 10 absorb the surplus
in the Treasury and the outstanding debt due to the
u nited States; that the Treasury was, on the 4th
of NJ lrch 1871, exhausted of its means, and subject
TO heavy and immediate liabilities. IL was already
burdened with debt incurred in time of peace, and
without any adequate resources except the authority
| granted Ivy law 10 augment that debt.
! As yet provision has been made TO reduce this
debt or to check its constant and rapid increase. We
find it, therefore, far past legislation and financial
arr angemcnts characterize H. permanent and increas
| ing national debt. The temporary expedients by
which has been sustained do not at all vary its es-
sential character.
The attention OF Congress IL respectfully invited 10
the necessity OF early e1ecluai measures TO pre-
vent It's further augmentation. The obvious remedy
is 10 increase the revenue far may be, without
unreasonable burdening commerce, and TO reduce the
expenditures within the limits Of strict economy.
But as il may not comport with the views of Con-
gross to 20 into revision and adjustment of the
toms so long before the act OF March 2d, 1888 comes
To have lis final and permanent operation, the under
signed would respectfully recommend, temporary
measure the levy OF duty of % per cent adj vaorem
on all articles which are free of duty or, which