Wheeling times and advertiser. [volume] (Wheeling, Va. [W. Va.]) 1839-1849, 1841-06-03

OF War
Tn. nn,icirared means Of the Treasury are
r,s,,Iv inadequate TO ihIs demand. The receipts
t,,, customs fr the last three quarters of the last
vc,r and the fr.; quarter of the present wear, !
mounted &c al2 50OO0O the receipts for lands Cor
the same time to s2.742459; showing average
revenue frvm both sources oG 81 .236.SS0 per
month. A gradual expansion Of trade growing out
q; restoration Of confidence. together with re-
duciicn in tho expenses Of collecting. and puncs-
alliiy IN the part Of collecting officers may cause
an addition to the monthly receipts from tho rus
toms. They estimated for the residue oi tho
year from the fourth Of March. nj $4,000 600;
the receipts from the public lands for the
period arc estimated NJ 81 500 600; and from mis-
celsneous source. nj $4,000. making an aegre-
s,ie Of available finds within the year of 81 6T0-
600: which will leave probable defci, Of Sll..
4O6l32 9S To meet this. some temporary Pro-
vision is necessary. uulil the amount can he alb
sorbed by the Of rev cnucs which are aniic-
psted to accrue Al no distant dav.
There will be due within the r-It three months
Treasury notes nf the ssues Of 1870. including ia
rcre.i. Of s0s50'000. There is ehsrgsahs III the
n~rio fnr arrearagcs fo- taking the sixth cen
Gus S274000; and tn estimated expenditures fnr
the current about SS i 90 900. making
the aggregate demands upol the Treasury, urior
/ 10 the fret OF September neyf. about 81 100000
The ways and means in the Treasury. and csii.
mated 10 uccrre within the above named period
consist ofabout 1904 000 OF funds available on the
2Sh ul'.; m uri-sued balance of Treasury notes
authorised nv the act oflsil amounting tosl 9j5.
000 and es'innted receipts from all sources. Of
about $3.50 600. and leaving r-nhnhle deficit on
the Is oC September next ofS4 $4,000
In order IN supply e.wanis OF he Government
an intelligent constituency. in view "f t1c'r best IN
eress. will. without HESITATION. submit 70 all neces
sNrv burdens. But il IL nevertheless important 20
10 impose them TO avoid defeating The just OK
pecaions OF the country. growing ont OF nre-eNsi-
ing law. The act Of The 81 March. 1893. rom
monty called the compromise acf sho I'D not DC al
tered eTcepi under urgent necessities. which arc not
believed NJ this time % exist. One wear only re-
mains complete the -orieS of reductions provided
FIR hv ihai law. NJ which time provisions mnde by
the same law. and which then will he brought &C
lively in MD Of the manufacturing interests ct me
Union, will not fail To produce the most beneficial
results. Under n system Of discriminating duties
imposed for purposes of revenue. in unison with tho
provisions nf existing laws IL i 10 I've hoped That our
policy will in tho fIiurc. he fixed and permanent.
80 IN avoid those constant fluctuations which de.
feat The very objects they have IN view We shall
thus hest maintain r,siion which, while II VII!
enable us tho more readily TO meet the advances ~
other countries cnlcul1ei To promote our trade ard
commerce. will y; the same lime leave m our own
hanSs the means Of reiaiaIng with greater effect
unjust regulations
| In intimate conno1ion with the question Of rove
nue. is that which makes provision for n sni'a5's
fiscal agent capable Of adding increased facilities N
the collection and disbursement OF the public r-re
nues. rendering their custody. and con
knltng true economy in the great multiplied and
delicate operations Of the Treasury Department
Upon such m agent depends in an eminent degree
The esthhllshrne-s OF currency Of url'o-n value
which is Of 50 great importance Al! the cssen''a
: interests OF society; and on the wisdom 10 he man
i Tested IN lie creation much depends. 81 inilmntei
interviewer lis operations. not only with The ~
terests OF individuals hut with those Of the State
. that II may be regarded in a great degree rs co
c trolling both. If paper he used as tho csiei med
, um Of circulation md The power he vested IN ID
! the government Of issuing 1t at pleasure, either
l. the form OF treasury notes or any other. If binI
be used as the puhlic deposiinries, with liberty
u regard all surpusses from day 20 Day as so niue
. added TO their active capital. prices arc exposed
constant fluctuations. and industry 10 severe Su'
y ing In tho case, political considerations dIro
- ted TO party purposes. control. while eNcetsl'
cupldt may prevail in the other. The ppoiic
J. thus constantly liable To imposition. ETpanSio
e and conlraciions may follow eoch other IN rap
i fuccesSion the one engendering spirit OF advsr
ure, which embrace states "a we'll al indiVldna
sf5eEsir a 1s e rda i.Se' and @sSoI
states embarrassed even with The effri 10 ftessd
+ puncualiiy the interest their debts. Such, NJ
y happily. Is the state Of things existing sn IN
United States. These effects may be readily ir'
ced 10 the causes above referred 10: The publ
y reuenues. on being removed from The Bank or IN
United States. under order Of the late prssiden
were placed in selected state hanks which. ac'uate'
by the double motive Of conciaung tho govern
= ment and sugmen'inG ihoir profits to the creates
; possible extent. enlarged eY,ravar,uily Their Dis
counts. thus enabling all other existing hanks n d
the same. Large dividends were declared. whIc,
stimulating the cnpidity Of capitalists. caused
rush 10 be made 90 the legislatures Of the Siaies ~
similar acts Ofincorpornfion which by MANY wcr,
granted, md thus The augmentation Of The circuIa
ton consisting almost whollp Of paper produced Z
most fatal delusion.
An illustration. derived from the land sals. a
the Period alluded IT, will serve hcsf 20 = o1 4
effect Of inc whole So tam. The avavs 20 "a % a
me ruoIIc Ian u, f)ra period often years prior 70
. 1884 had not much exceeded DOR. 600 erarnun
/ IN Is ihey attained n round numbers 10 the A.
noun Of 5000 900. n the surc- eiirp year o
/ 1885 hey reached IS zoo O00. Ard the next yeAr
Of 1896, they amouu;sd n the enormous sum o.
SIS 900, ZOO Thus c.ow9ing into ne shoTt sn,c,
OF three years upwards o. twenty three YEAR nur
chase ~ the public dom'i'' 60 apparent had be
com" the necessity Of nr-"s'i~g ttis courfe q
thl"rs thar the Executive Department assirrAy
the h'gllv qu st'ou1bls power Of disc ~ natiuc n
the funds 20 De used in naymnntby diff rent elias
s-s OF pubI. debtors n s-ri min anon w wa
doubtless designed 10 cnrrcct ih,s mos, ruinou
state Of things BY the exaction Of sperie in al
payments for IN spuhlIc lends but which cou II
/ nOt w once arrest ne tide which had 50 strong
/ " set IN: Hence the dem rdz for s1ecio beca-r
unoeaSiDg, add corresponding prost-.tlon rapiil
Insled under the neressities created with III
/ hsnhs n curial their Discounts and thereby Il
lTednee Their circulation / recur 70 thrs' thing
! WIN no dispouton 70 censUrp pve-cXlftInP al
| mlnlsiTaIions ofthe Government, bot siTpl' II
/ sNsmpiIicauon q the uuih of tho rositisn wiir
/ hnys assumed. r. then any fiscal agon
which NAV be created shall he y a,et, wi'1au
du' restfci ions, her m the hands f he admin
IUat9rs ~ The 6avernment, o. hose n private
innWduals the iemDtaiion ~ nbuae will rrovc O
re resi7i'ess. Object ofpol'fi~nl aggraudIz-mru
nlay sSduee the fret and tn 'oromptir q q
DouboI-ss cupidry viii nsstIl the last. aided b
tReeNpcr!ence II tho past 10 will be tie NJ y sur
~ Congress 40 10 guard md fJrtify he rubc IN
I 'gIests, ~ the creation Of any rcw agent, ne q
1 p,aSe mem. - f1r as human wisdom can sccom
] p's,sn ~, on noting ofperfnct security. Within
4 = l'W ycaT' a77', thyee different schemes hav
! Ueep bsi'fe The country. The cSarfer Of M
/ 'anh Of ne U1iifd States exri-e1 bv - ow'
/ - s''-li- M I-35. An Effort W. m7de 20 70
! ,IIou.LLs oI t'r"'ess hst The then President q
- 49, rI.-neui II ~" United Stateo. exercised
I iliH Ntfu power and tho 49,. I.r-. ed