The spirit of the age. [volume] (Woodstock, Vt.) 1840-1844, 1841-08-06

Treasury notes outstanding Jan. l. ISL Sl,st6,sl6
Outstanding appropriations i-'0OV-'o
Total debt l72iStsl
Appropriate ons by 26lh Congress H'h9'O'o
Total debt and liabilities, March Sc, 993,l76
Deduct revenue from January TO March 5,92','2I
Actual debt, Marcia ssSCC4,l4O
Deduct revenue to he received TO -
close ol!enr 4i1'V'oo
Deb, at the close orthc yearlsil sls,39i,449
Bv this estimate il will be seen, that nolwith-
standing the CRY against existing debt, the depart
men, have concluded 10 increase it ut least s 900
900. Now let compare this statement with
what actually took place during 1910. The fol-
lowing is statement very nearly n the same form
as the above.
Outstanding Treasury Notes January
Appropriations l9s27,S7l
Actual debt, I6,j7,S7l
AP''0 grrss ojli3655
Paid on Old appropriations, 100000
Aggregate charges upon the year, S43,22l,O26
Means from revenue, slaiIs776S
" Banks, 3,3J0LOO -
Issues of Treasury Notes. $4,000 2j'93I'Ga
Balance. Jan. lsli I7,ass,26i
''''' sury Notes, 4,o66,al6
Outstanding ,ppropria. ~ ..,
lions, l2,3bb 700 lIZ'5,Ool
This statement proves clearly that the expcndi-
TIRES of the past year were within the resources of
The 90, ernm,n'. The Treasury notes outstanding
were issued about 81 800 500, but the same u
mout was paid on oldapproprin,ons. This amount
of outstanding appropriations has existed for ears,
and has been the result Of Congressional ex,rava-
rnnce in opposition 10 cIamped Treasury ard Tx
eculiye economy. The existence OF these appro-
prniions cannot surely be attributed 10 the late
Executive as u debt. 1t il the evidence OF money
they have not spent, but if, like the new govern
ment they had orrowed the money at great eX-
pensc t. meet these uncalled for appropriation, they
might indeed have been charged win wanton ak
iravngance, in order to make the greatest use OF
executive D. Tonnage. The amount OF Treasury
notes outstanding is also harped upon as debt
In all the IL months, from Jan. 1910, to March,
Is4l, the amount was increased but about s. 800
600. Under the new government, from March LIST
10 June Ist three months only, this increase was
upwards Of : 4, 900 900; and an extra session call
led to involve further expense OF : 900, Tor
no other purpose than to commence the Presldcn-
tin campaign Of 1914. The only debt which eAis-
ted in any shape on the 4th Of March, was the out
standing Treasury notes, about S4,5Oo,0 900. ii
the real object of the new administration had been
to exiingush debt, simple reduction oil appropr-
/
il might have been averaged in two three years,
wouid have effected it. Instead Of that. however,
what do we see' An extra session ia called at an
extra expense Of 81 100000. The first act Of
which il TO give away $4,000 Of peoples money
the next il TO give away s3.o0O,0CO ANNUALLY,
which represents capital Of so, 900 900, out Of
the public Treasury, TO the States and spectators.
The next il TO contract a loan Of Sl2,OOO,O0O,
TO wears 10 run, bearing per cent interest, being
yearly charge Of S72O,0OO upon the Treasury
for. say five years Thus Ear is all that has been
done, and may be summed up as follows:
Eyponse ofEurs Session, slocOoOo
Cr,,ni,y 10 ind vilnals $500
States and spectators, 50,000,CG0
s,5O,OOo yearly charge on new debt -
for S wears, s.60O,OCo
.l Total expenses and graiuities, e54,625,oo0
This j. the first move towards extinguishng a
floating debt Of $4,000, 900. Those unskied in
modern finance NAV think this singular proceed
ing. but they must ponder on saying which is Mr.
Claws rule Of action, tina this is great country,
and therefore must have great bank They may
no, see the force Of this argument. bat like the