Richmond palladium. [volume] (Richmond, IA [i.e. Ind.]) 1839-1854, 1841-06-12

alarm Of the patriot for the safety OF our lnstttu
lions The Federatlye system, leaving TO each
State the care o. its domestic concerns, and de-
yoying Oh the Federal Government those OF gen
erat import admits in safety Of the greatest eX
pansion; but, at the time, deem IT proper
+ to add that there Will be found to exist at all
times Ifnperlous necessity Tor restraining all
the functionarles of this Government within the
range Of their respective powers, thereby preser-
wing Just balance between the powers granted
/ 10 this Government and those reserved to the
States and 10 the people.
From the report of the Secrtary OF the irea-
sury, you will perceive that the fiscal means pre-
sent an accruing, are insufficient to supply the
wants of the Government for the current year.
| The balance in the Treasury on the 4th oil March
| last, not covered by outstanding drafts and eX-
elusive OF trust funds, IS estimated at Sooo,ooo.-
| This includes the sum OF S2lo,OoO deposited IN
! the Mint aud lis branches to procure metal tor
coming and in process OF coinage, and winch
could not be withdrawn without Inconvenience;
thus leaving subject draft in the various depos-
tories the sum of S6l5. 900. BY virtue Of two
several acts of Congress, the Secretary OF the
Treasury authorized to issue, on and alter
tho 18th of March last, Treasury to tue a
mount of SJ,1l3,0 900, making an aggregate avail
able fund of S6,05S 900 on hand.
But this fund was chargeable with outstanding
Treasury notes redeemable ia the current year
ana inteTes: thereon to the estimated amount Of
five million two hundred aud eighty thous lud dol
lars. There is also thrown upon tho Treasury
the payment of large amount OF demands &C
crued ~ whole or in part III former years, which
" i'll exhaust the available means OF the Treasury
and leave the accruing revenue, reduced as II IS
in amount, burdened with deb, and charged with
the current expenses OF The Government. The
aggregate amount OF outstanding appropriations
on the fourth day of March last was ss}3 1919, GIG
%, Of which S2l 10000 will be required du-
ring the current year; and there viii also
be se Department
additional appropriations to the amount OF two
million five hundred and elev thousand one hua-
dred and thrtv-two dollars aud ninety eight cents,
the special objects OF which will be seen by ref
erence O the report Of the Secretary OF War.
The anticipated means of the Treasury are
greatly inadequate to this demand. The receipts
from customs for the last three quarters OF the
last year, aud the first quarter OF the present
year, amounted to Sl2, 100000; the receipts Tor
lands lime S2,5l2, 30, sh"" ing
an average revenue from both sources of l,-3j,-
so per month. 4 gradual expansion OF trade,
growing out eff restoration OF confidence, to-
gether with reduction IN the expenses Of co!iec-
ting, and punctnaIity the port of collecting Of
ticers, may cause an addition 10 the monthly re-
ceipts from the customs. They estimated Tor
the residue of the wear from tho fourth OF March
n; - IL 600 900; the receipts from the public
.ands for the same time are 6 mated n S2.3Oo.-
900; and from IN Miscellaneous sources al sl!o,OoO;
making an aggregate of available fund within the
year of < 1870 900; which Will leave proba-
bic deficit of Sll, 10j, 1872 -. To meet this,
some temporary provision IS necessary, until The
amount can be absorbed by the excess of revenues
which anticipated TO accrue at no distant day.
There viii fall due within the next three months,
Treasury notes of tie issues of 1910, including
interest. about S., 100000. There Is chargea-
bic IN the same period for arrearages for taking
the sixth census 80 900; and the estimated
pendiurcs for the current service are about S.
zoe, 900, making the aggregate demands upon
tie Treasury, prior to the first OF September next.
about 81 100000.
The and means IN the Treasury. aud cs
tmatcd TO accrue within the above named pert
cd, CONSIST of about 800 1000, of fund available
on the 2Sth ultimo; unissued balance Of Treas
ury notes authorized bv the act of 1911 amount
my 10 81 800 600, and estimated receipts from
all sources of a,S00000 dollars. making an ag-
1regate Of about Is, 10000. and leaving a proba-
BILE defer, on the lst Of September next Of :, l.
$4,000.
In order to supply the wants of the Govern
ment, intelligent constituency, in view of their
best interests, will, without hesitation, submit to
all necessary burdens. But it is nevertheless
important SO to impose them to avoid de
teatIng the Just expectations of the country.
growing out of pre-exsling laws. The act of
the ID March. 1888, commonly called the com
promise act, should not be altered except under
urgent necessities. which are not believed at this
time to exist. One year only remains to com
plcte the series OF reductions provided for BY
that law, at which time prov sions made BY the
same law, and which then will be brought ac-
lively in aid OF the manufacturing interests of
the Union, will not fail to produce the most
benficial results. Under a system of discrmi
mating duties imposed for purposes of revenue,
unison with the provisions of existing aws,
it is TO be hoped that our policy WILL IN the fu-
ture. be fixed and permanent. avoid
those constant huctuatons (which defeat the
very objects they have in view We shall thus
best maintain position which, while it will ena-
BILE US the more readily to meet the advance of
other countries calculated 10 promote our trade
and commerce, will at the same time leave III our
own hands the means Of retalIatIng with greater
effect unj Just regulations.
In intimate counexion with the question OF rev
enue IS that which makes provisions for saita.
bic fiscal agent capable of adding increased facili