Democratic standard. [volume] (Georgetown, Brown County, Ohio) 1837-1850, 1841-06-08

inst. Hence it appears that the other
available means in the Treasury have,
as yet, proved more than enough, in the
/ aggregate, for the discharge Of all en-.
gagemenis Of every kind sanctioned by
Congress, whether old or new, in ar.
rear or otherwise, which we're due
and have been presented for pay.
ment.
1t may be proper To state further, that
The receipts. since the year commenced
have fully sustained the computation for
the whole ofthe first quarter made by The
Department, in January last. The accru.
Ingrevenue from duties payable three and
six months hence, has been much larger
in January than would he required month
ly to make all the receipts from that
source in lS4l equal the amount estimlied
in the annual report .E
The revenue received liz February, not
yet fully ascertained, has probably been
nearly the same as in the preceding
month, but the accruing duties are bel ev.
ed to have been considerably less. II is
king both months together, have been
quiie as large as would he their proportion
in order TO make the recGip pts for the whole
year, from this source, equal TO the annu
al estimate. It is gratifying to be able
to add, that after all the payments above
described, the balance OfaVailahle money
now in the Treasury is more than mill.
ion of dollars, including what stands sub
ject to draft, and to the credit Of Hhe
Treasurer in the MINIS, and with cOllec.
tors aud receivers. Deductingtr ST funds
of every kind, which have seldom been
so small in amount, and none Of which
that should be invested remain uninves
ted. the balance will still exceed three.
fourths ola million.
During the last three months also, as
we'll as in all The former exigencies, since
your Administration commenced. that bal
ance has never been less than from half
million to million Of dollars, howCv-
er, much the Treasury may, at times, have
been exposed 10 embarrassment at parIic-
ular points, in The various crisis 10 which
its affairs have been exposed, in the per.
formance Of such large, distant, uncer-
tain, and sometimes unexpected opera
tions. But any good fortune in preserv-
ing high and scrupulously the pPcunary
credit of the General Government, under
such periIs, should not be suffered 10 i'm.
pair the force of the recommended Ons
that have from time to time been submit
Ted Ia Congress fora provision of add.
lional means, To guard well against sud
den deficiencies in receipts aud large
fluctuations and inequalities between them
and the expenditures in different parts ol
the year.
The first recommendation for some
such precautionary measure was presen
ted as long ago as 1898, immediately af
ter The discharge Of the National debt
and the termination Of the necessity for
keeping large balance on hand 10 aid in
delrayng ii.
Tue attention of Congress has since
been annually invited 10 the subject with
earnesIness, and in several different
forms. In respect to our present fnnn
ciaI condition Judging from thai parI Of
the year already expired, aud from the
exis ing means on hand, there appears 10
he no danger Of embarrassment. un.
less it is hereaf'e er caused by the circum
stances pointed out in the last annual
report.
Snould Congress, before the expiration
Of the present session. or before the year
closes, burden the Treasury with much
greater amount Of appropriations than
were called for in December last. the ex.
pee ed means ofdeCraving them, as then
explained. may prove propOrlionably mad
equare. Su a continued suspension OF
specie payments, by most Of 'he B,nks
west and south west 0f New York, would
lessen the receipts IF the Treasury, as
WAS then stated. The sudden suspen.
SION, again, Of several Of ,b1se Banks. in
Fbrualy, altar resuming for short time
has already exercised some maIgn infu-
ence on the revVing business Of the
country; aud this circumstance was
Immediately submitted TO the con.
s'deEatlon oI the appropriate commit
tee.
But though il may continue to operate
unCavorably on mercantile credit, there is
nevertheless no good reason TO doubt that
irthe appropriations are not increased be-
yond what was called for in the annual
estimates, the means now on hand, with
. the current receipts and The existing
, power tn issne Eve millions &c Treasury
/. mites af er The third E March will prove
c amply sufficient to meet all ordinary en-.
y gagemenrs. If'hey do not also enable
e The Department TO ex'inguish the whole
!. Of The Temporary Indebtedness caused by
i the issue Of those noies. ia will be owing
$ to the recent and unexpected susp 'nsion
i again of many of the Banks, SO sensibly
!. iniuring the prospeci for increased busi.
!, Itro,s ,vh;cL evisted IN a yeTv hattering AY.