Daily Richmond Whig. [volume] (Richmond, Va.) 1840-1842, 1841-08-07
s3i.3Io,oI4 20

Penu,ture over the current reye-
nueoG s3I3IO Ola On
here, ihen Is an amount OF more than s3l ,OOO,-
wv received aud expended 10y the past Adminisira-
Won from sources where We have Il tie or nothing to
expect They II q in the Treasury, on the Isl of
Janury, 1887 more than $1,000 600. all of which
mas been expended; and they only left on the 4,h
VI March last, as appears Ivy the above statement
.ne small sum OF S57sO 900, sum comparatively too
UlninS 10 be worth mentioning.
bul tins Is not all. We had then due US A lara
ueot Tor the SAFE of our stock in the United States
pans" ana OF that they have collected and expended
curing the past administration more than 50 600 600:
sue 'ne MIR balance, any, that is due is Iri-
h'hs 10 De taken into the account. TINS is also
gone. But even this is no; all they borrowed more
mah SS,uVO,OOO on Treasury notes, and have eS.
pended The money and leii the debt to be paid by
.he present or some succeeding Administration. We
have nothing to expect from this source, unless We
are willing TO 90 on and increase this public debt,
For one am MT; rather prefer to provide the
means to pay It eff. Here, then, are s3I,SlO,OUU
received by the past Administration from sources
iTHm which we have nothing 70 EXPECT; but IN
striking the balance between the two Adminrs:ra-
tons, and estimating the means that ought u be
provided for the present to put II on par with the
last, We ought 10 add this Treasury note d.bt TO
the ABOVE sum, winch would make 1t $50, 95S, 900,
tor, although we have charged IL TO their means
above, vet II Is TO take much from our ordinary,
means II we pay II; end trust we shall.
This, then, SIR i one item, and now call the At
tenion OF the committee 20 another. | mean the
ayll.S Of the public lands. As the bill that passsJ
this House distributing them among IN. S,,t.s ,
has not been rejected 10y the Senate | feel bound
TO assume, and 50 mus; tins House, i'm estimstin,
Tor the ways and means, 10 carry on the Govern
ment, and that bill will become a law and will AZ
Ter me Isl day OF january next, restore the pro-
eeedS Of these Iards to the People OF the several
States 10 whom they justly belong. And in passing
may Ue permitted to say, SIR that voted for thai
oil, not as financial measure, but as a matter of
r la and
measure rendered necessary by the course Of events
To preserve this great and rich patrmony for the
People 10 whom II belongs, ami TO prevent its bsins
Squandered and gamb.cd away by trading poIi,l.
cans and reckless GemlsosuCs. IL was so fast
becoming great corruption fund that II was neces.
sary u restore II 10 its rghtful owner tina, il might be
guarded from the corrupt temptations of avarce and
The stu. more banetul and dangerous influences of
lnordinaIe aud ume-Serving ambition. only re.
greet that this could not have been done at n more
suspicious moment for the public Treasury. But
the OBJECT TO be attained was in my mind far
ABOVE any temporary Inconvenience that might
arse TO the Treasury, and, therefore, gave II n
most cordial support.
During the four years of the past Adj
mlnstration, there paid into the
treasury from the avaIs !Ehe public
lands 2O,226 600
At page 3, document ., the Secretary
estimates the amount 10 be received
from the public lands this year, from
March 4thio January lst AZ 2,5GOOOO ,
which deducted from the receipts Of
the preceding tour years. lgsyss SlT T2f OOO |
being Amos; 100000 more fom this source than /
the present Administration can calculate upon.
But TINS IL not all. There IS another source of |
revenue OF vast Importance which was enjoyed by |
the past Administration, which is about to be cut
OF under the operation Of the COMPROMISE act In |
order that may explain this fully, It is necessary
that should go something into detail as respects
the provisions OF that act. We all know that this |
act was passed on the second Of March 1888 being
the final compromise between constitutional mower /
on one side and notification the other | do not
propose to speak OF It's merits, much less of the me.
Hts Of the controversy out of which 1t grew and |
only intend now TO speak OF ITS provisions So far as
they affect the revenue arising from duties
With the view Of reducing all duties 10 n maxi. |
mum OF % per cent ad uGlOJsm, this act provided
that, on the LIST day Of January 1854 one tenth of
the duties over % per cent on all articles Imported
should be taken of and on the LIST day OF January
1886, another tenth, and the ST day of January
ISSs another tenth, and on the lst day Of January
ls4O anutner tenth, and on the st day of January
ISL three tenihs more, and the ST day Of JULY
lS'2 the remaining three tenlhs SHOULD be deducted
so that after that day no Article imported should
bear higher duiy IA L 20 per cent gd p4LT,u 4,
will thus lie perceived, that under the operations of
this act four lenlts Of the duties above 30 per cent
have already been deducted and that Il. rec tentbs
more will be deducted on the first day Of January
nsNt and tue remaining three Ienths on the st day
OF July next.
In order to determine how this affects the revs
nue., u IS necessary TO ascertain how much these de-
ducuons take oil from the duties on imports By
reference TO the table To which have already called
The attention Of the committee IN Hous. document
No. 81, at page 30, in the second column Of that
table, u will be seen what the deduction has been
under this act, from 1884 10 1889 inclusive. And
u ! have not made mistake ~ my calculation Il
will be seen that the average amount for every tenth
in each year, Is Ss7IO0 THIS then, furnishes an
easy rule by which to determine what was dedu,,ed
during the past Administration, and what will be
deducted during the present, and the difference will
he the amount which the past Administration re-
ceiVed and cxp- nded, from source from which the
present can receive nothing. In
- 2-Io,s were deducted being twice ss7iooo sr7lsco1
l-s, lHlis % 90 uhfce tunes do ZG2JuD
is s55g s'ighs DO DO DO do 2,C2OU
Making total deduction duHnsthc past Admit
u srston Of siO $500
Now let rs see the amount OF deductonsDy the
same process for the current four years:
lu 1871, 4 10 hs will 10 deducted UeIpg
four tunes S574,OJO s3.49G,OOO
ln 1912, IONS TOR half year, being sew.
en- tunes $4,000 3O5o 900
ln 1912, 10 lOths ifom July 20 January, DO
ina IN. ft.r.H- : ZOO.