Sunbury American and Shamokin journal. [volume] (Sunbury, Northumberland Co., Pa.) 1840-1848, 1841-06-12

from both sources Of sl,236s7o per month. A !
gradusl expansion of trade, growing out Of rcsto.
ration Of confidence together with reduction in
tho expenses Of collecting, and punctuoli,y on the
part Of collecting officers, may an addition to
the monthly receipts from the customs. They are
estimated for the residue Of the year from the fourth
of March at sl2,0OO,OOO; the receipts from the
S,5OO,0OO; and from miscellaneous sources at
$4,000; making an aggregate of available fund
within the year, Of sl4 $4,000; which will leave
probable defci, ofs ,4o6.l 80 SO. To meet this,
some temporary provision is necessary, until the
amount can be absorbed by the excess Of revenues
which are anticipated to accrue at no distant day.
There will fall due within the next three months.
Treasury notes Of the issues of ls4o, including in.
terest, about S2s50,OO0. There is chargesble in
the same period for arrearsges for taking the 9Th
census 1894 900 and the estimated expenditures
for the current service ere about Ss,l0O,000, ma.
king the aggregate demands upon the Treasury,
plior to the FIRST Of September next, about Sll,-
100000.
The ways and means in the Treasury. and est-
mated TO accrue within the above named period,
consist Of about s694 600, Of funds available on the
2sh ultmo an unissued balance of Treasury notes
authorized by the act of ls4l, amounting to ST.
o65 OO0 and estimated receipts from all sources of
s3,sOO 600. making an aggregate of about $780,
600, and leaving probable deficit on the LIST Of
September next, of 81, ,s45,Oo0.
In order to supply the wants Of the Government,
an intelligent constituency, in view OF their best
interests will without hesitation, submit 10 all ne
cessary burdens. But it is nevertheless important
so to impose them to avoid defeating the just eI
pectaions Of the country, growing out of preexst>
| ing laws. The act Of the Cd March, 1888, COM
monty called the compromise act, should not be
altered except under urgent necessities, which are
no, believed at this time to exist. One year only
remains 81 complete the series Of reductions provi'
dcd for by tina, law, at which time provisions made
by the same law, and which then will be brought
actively in aid Of the manufacturing interests Of the
OF the Union. will not fail to produce the most be-
nefcia! results. Under system Of discriminating
|
with the provisions of existing laws, it is to b'
hoped that our policy will, in the future, be 1et
and permanent, so as to avoid those constant luc
,ualions which defeat the very objects they have il
view. We shall thus best maintain a position
which, while i, will enable US the more readily t
meet the advances of other countries calculated t
promote our trade and commerce, will at the sam
time leave in our own hands the means Of re,aia
ting with greater effect unjust regulations.
In Intimate connexion with the question of reve
nue. is that which makes provision for suitable fi'
cal agent capable of adding increased facilities i
the collection and disbursement of the public re,
enues, rendering more secure their custody, an
consulting a true economy in the great multiple
and delicate operations of the Treasury Department
Upon such an agen, depends in an eminent desre
T the establishment of currency of uniform valu
which is of so great importance to all the essenti
interest of society, and on the wisdom to be man
tested in its creation much depends. So intimatel
interviewer are its operations not only with the il
,ere.,s of individuals hut with those of the State
. that il may be regarded in great degree as Co
I trolling both. If paper be used as the chief med
: um of circulation, and the power he vested in Il
| Government Of issuing it a, pleasure. either in Il
, form of Treasury drafts any other, or if banks
used as the public repositories, with liberty to n
! gard all surpusses from day TO day as so much 3
ded to their active capital, prices are exposed to Co
slant fluctuations, and industry to severe suifern
In the one case political considerations, directed
: party purposes, may control, while excessive cup
! i,y may prevail in the other. The public is tn
4 constantly liable to imposition. Expansions a
4. conraclions may follow each other in rapid 81
: cession, the one engendering reckless spirit OF
D venture and speculation, which embraced States
we'll as Individuals the other causing fall in P
g ces, and accomplishing an entire change in the
d pect of affairs. Stocks of all kind, rapidly dec!i
= individuals are ruined and States embarrassed eS
le in their efforts TO NEE, with punctaallty the int
in est on their debts Such, unhappily, is the state
st things existing In the United Slatlcs. These
70 fects may readily be traced to the causes above
r ferred to- The public revenues, on being RENE
Z. ed from the then Bank of the United States,
Mt der an order OF late President, were placed in
of lected State banks, which. sctuated by the doa
J.. motive Of concilia,ing the Government and at
li menring their profits to the greatest possible exte
ar enlarged exrr,vaganty their discounts, thus el
nt bling all other existing banks to do the SAL
be Large dividends were declared, which, stmulat
nr Tho Cupidty of CAPITALISTS. caused a rush 10
made to the Legislature of the respective States
1t. similar acts Of corporation, which, by many OF
I'M States, under temporary infatuatiOn, were read