The Charlotte journal. [volume] (Charlotte, N.C.) 1835-1851, 1841-06-24

/
istiug public debt will be presented
From the year 1851 1887, pc.
Rod Of tweu'y-oue years, the re-
venues constantly exceeded the
expenditures Tho average an
/ uual surplus during that tins was
/ SlI464, 926 81 (see tables J
and ?, making an aggregate ex-
cess ofS2i9, rs ,7G4 81 Ofthis
there was cpplied to tie extnc-
ton Of the national debt S20s,-
100, l27 Il, aud there was undef
the provisions of the act of the
23i ofJuue, 1895 deposited with
tho States @8,l0l,G4l 81, and
there remained on the LIST of Jan
uary, 1897, in the Treasury Of
the Uni.ed States, including the
fourth instalment due TO the
States, surplus of l1,I09A73 IS
There were, also, outstanding debts
due and falling due to the 1tea-
sury, arising from other sources
than those of the ordinary reve-
nue., and which werc pad be-
tween the Isl of January. 1897,
and 18th Of March, 1871, the
amount OF see statement D. 9,l2f,747 90
There were, also issued within that
period, and outstanding on the
Ala Of March 1884, Treasury
notes to the amount of 5,646,5l2 do
Making the aggregate available
means which were in the Treasu-
ry on the lst Of January, 1897,
and which came into il PRIOR to
the 9TH Of March, 1871, over ami
above the current revenue 3I,sS2, 1872 So
From which deduct the amount
less the trust funds remaining
in the Treasury on the 4th OF
March, ISL 572,7lS &c
!
And there appears an excess of ex-
ponditure over the current reve.
nue. Of S3l,3l0,0l4 20
ltis proper 10 remark that the entries
on the books Of the Register of the Treas.
ury do no, always show The true dates Of
the receipts and expenditures. An item
involved IN the above statement table D.
will serve TO illustrate this fact. The sum
of S5l2,I36 Il was, on the I'd and 3lst of
October, 1870, PAID by the Bank of the
United States on lis last bond TO William
Armstrong, superintendent at Fort Gibson
by order fthe Secretary Of War. Though
on on those DAYS, il did not fiud its way into
the office Of the Register until the 4th of
March, ISL, on which day it appears on
his books both as a receipt and an expendl.
( ture.
Thus and to this extent, within The last
/ four wears were the expenditures pushed
beyond the amount ofthe 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 l,h of March lS4l, exhausted Of its
means and subiec! to heavy and immediate
liabilities. Ii was already burdened with 3
debt incurred in time Of peace, and without
any adequate resources except the au'hori'
ty granted By law to augment that debt.
As yet no provision has been made to re.
duce this debt or To check its constant and
rapid increase. We find II, therefore, as
far as past legislation and financial arrange.
ments characterize 1t, permanent and in-
creasins national debt. The temporary
expedients by which 1t has been sustained
do not at all vary It's essential character.
The attention Of Congress is respectfully
, invited TO the necessity Of early and efisc-
+ tual measures to prevent its further aug
meutatlon. The obvious remedy is to in'
crease the revenue as far as may be with.
out unreasonably butdenipg commerce. anu