Boon's Lick times. [volume] (Fayette, Mo.) 1840-1848, 1841-07-10

Making an aggregate Of 9,25l,3 1888 80
In another r art Of this paper the views of the
Department as to the mode Of providing for the
above deficit ogcther with the residue of the ex-
listing public de BIT. will be presented.
From the year 1916 to 1887, period Of twenty
one years the revenues constantly exceeded the
expenditures. The average annual surplus
during that time was $1l, 464,2 81, (see
tables and q making an aggregate excess
OF S240,748,764 81. OF this there was ap.
piled to the extinction OF the national debt
S2OS, 1872, l,27 "A, and there was, under the
provisions oil the act Of the 23d of June, 1886,
deposited with the States S28, ,644 81,
and there remained on the LIST Of January,
1887 in the Treasury Of the United States,
including the fourth instalment due TO the
States, surplus Of 17,lO9,473 26
There were, also, outstanding
debts due and falling due 10 the
Treasury, arising from other
sources than those Of the ord-
nary revenue, and which were
paid between the LIST Of Janua-
ry, 1887, and 4th Of March,
1911, the amount Of (see state.
ment d. 9,l2I,747 90
There were, ALSO issued within
that period, and outstanding on
the 4th Of March, 1911, Treas.
ury notes TO the amount of o,b4S,5l2 40
Making the aggregate available
means which were in the treas.
ury on the 1st Of January,
1887, and which came into it
prior to the 9TH OF March, 1871
over and above the current
revenue 81 ,SS2, 49, DO
From which deduct the amount
QesS the trust (unds) remaining
in the Treasury on the 18th OF
March, 1871 512,1l8 10
And there appears an excess OF
expenditure over the current
revenue of S31,31O,Ol4 90
1t is proper to remark that the entries on
the books of the Register of the Treasury
do not always show the true dates of the
receipts and expenditures. An item in
voved in the above statement liable D) will
serve to illustrate this fact. The sum Of
$5l2,l36 81 was. on the I'd and 3lst Of
October. 1910. paid by the Bank of the
United States on its last bond to William
Armstrong, superintendent at Fort Gibson,
by order of the Secretary Of War. Tho
this sum was in fact received and expended
on those days, it did not find its way into
the office of the Register until the 18th of
March, 1871, on which day it appears on
his books both as a receipt and an cxpen-
diture.
Thus and to this extent, within the last
four years, were the expenditures pushed
beyond the amount Of the revenue. They
were made to absorb the surplus in the
Treasury and the outstanding debts due to
the United States, so that the Treasury was
ON the 4th of March, 1911, exhausted OF
its means and subject to heavy and imme-
diate liabilities. 1t was already burdcned
with debt incurred in time of peace, and
without any adequate resources except the
authority granted by law to augment the
debt.
AS yet no provision has been made to
reduce this debt or to check its constant
and rapid increase. We find it, therefore
as far as past legislation aud financial ar
rangements characterize it, a permanent
and increasing national debt. The tempo
rary expodients by which it has been Sus
tanned cannot at all vary its essential char
acter.