Staunton spectator, and general advertiser. [volume] (Staunton, Va.) 183?-1849, 1841-12-30
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The Senate held an Executive session on Mon
day the 25th. In the House the Tariff discussion
was continued. The following notice of the an
nual Report of the Secretary of the Treasury,
which was sent in on that day to both Houses, is
taken from the National Inteigencer:
THE ANNUAL TREASURY REPORT
was, as we expected, sent to both Houses of
Congress yesterday. 1t passed SO rapidly into
the hands of the printers to Congress, that we
had only time to cast transient glance over it,
with view TO its prominent points.
The state of the Treasury is of course the same
as 1t was represented To be in the Presidents
Message to Congress; that is to say there will
be an estimated deficiency In the Treasury on the
hrst OF January next, requiring immediate provi-
sion to meet it, of $G27 $50; which deficiency is
caused by the failure to obtain the necessary "a
mount of the IL Million loan, in consequence of
the shortness OF the time which it had 10 rum
MIR. Secretary Ewing, the reader may recollect,
when he asked for the loan to relieve the Treasd-
ry from membranes left by the late Administra-
ton, recommended that it should be authorized
for term of years; but, in passing the Loan
bill, Congress limited the loan to three years. too
short term to invite investment of funds i'm it
by capitalists. This deficiency the Secretary rec.
ommends shall be provided for by Immediate au-
thonty being granted to issue Treasury Notes to
the required amount
For the next year Ns12) the Receipts into the
treasury Excluding the proceeds of sales of
Pu6lic Lands} are estimated at $4,000, 600
from which is to be deducted 1927 $50 the esti-
mated deficiency at the end of the present year.
The Expenditures tor the year, including the "a
mount necessary to redeem seven millions of out
standing Treasury Notes, are estimated at S32,
l,OlO; leaving to be provided for, on account
OF the expenditures of 1912, the estimated sum
of Sl4,2l5,57O.
To meet this deficiency in the revenue for 1912,
the Secretary recommends to Congress to author
ize the extension OF the term of the portion of
the Twelve Million Loan not yet taken, and a re-
issue OF the Treasury notes heretofore authorized
by law, amounting to FIVE millions of dollars
the balance of the deficit in the ways and means,
together with two millions of dollars, Ga surplus
deemed necessary to be in the Treasury to meet
emergencies In the public service,) to be supplied
| from lmposts upon such foreign articles imported
into the United States ''as may be selected with
due regard to rigid restriction, in amountto the
actual wants of the Government, and proper
economy in its administrations
| This is the outline of the Budget, as il is very
plainly and clearly stated in the Secretary's Re-
I port. The Report then goes into an argument up
OH the principles which ought TO govern the adj
| justment of the Tariff to the wants of the Gov
eminent; of which as our readers will soon have
| 1t before them entire, we shall not attempt an
abbfeviaton.
| In the Senate, Tuesday, there was aninteresting
| debate on the subject of the Public Lands. Mr.
Linn introduced proposition to repeal the Dis
tribuion Bill, and pledge the proceeds of the pub
| lie lands to the common defence Of the Union
All the big guns of the bocofoco ranks supported
the proposition and urged its reference to select
committee. 1t was opposed by Messrs. Preston,
| Rives, Mangum and Archer. The Senate, by a
vote of IL to 25 refused to commit it, either to a
select committee, or any other. The whole pro-
ceeding was manifestly designed to cheat the
States out of the sums respectively coming to
them under the Distribution Act, and swell the
patronage of the Government by giving it that
| much more to squander. Common defence, in
! deed Benton does not show his face in the
matter-he probably keeps concealed to prevent
suspicion-but it is his handy-work, and it is d
humbug of the first water.
| In the House, the Tariff question was still far
ther discussed.
The Speaker communicated report from the
Secretary of the Treasury, containing his plan for
a aboard of Exchequer," in answer to resou-
ton OF the House. This report was referred to
the Select Committee of Finance, and ordered to
be printed.
From the National InteMgencer IF Thursday.
THE u. STATES AND GREAT BRITAIN.
The case OF the Hermosa, an American vessel
bound from Virginia to Louisiana, with thirty
eight slaves on board, and wrecked near Mas
| sau some eight months since, the slaves on board
being captured and set free by officers of the
BRUSH Government, was the subject of brief
but rather earnest debate i'll the Senate yesterday.
! The case of the Creole, an outrage Of a very re-
cent character, was incidentally aluned to during
the discussion, and the strongest feeling of CON
domination expressed Rtthe act committed. A gen
eral hope and belief was expressed that the new
British Ministry, after a calm and dspassionate
review of the cases referred to them, would re.
consider an opinion which must be regarded as
much in violation of the law of nations as it is
adverse to the general wish of the great body OF
the people of the two nations 10 preserve un-
changed the amicable relations now existing be-
| tween them.
In the House, the Tariff discussion was con-
! tinued.