Bloomington herald. [volume] (Bloomington, I. T. [Iowa]) 1840-1849, 1841-06-18

wants of the Government for the current year.
The balance in the Treasury on the 4th day Of
March last, not covered by outstanding drafts,
| and exclusive Of trust funds, is estimated at
| $500, OOO.--This includes the sum of $2l s, 900
deposited in the mint and its branches to pro-
cure metal for coming and in the process of
coinage, and which could not be Withdrawn
| without inconvenience-thus leaving subject
to draft, in the various repositories, the sum os
! $645,OOO. By virtue of two several acts Of
| Congress, the Secretary of the Treasury was
authorized to issue, on and after the 4th day
of March last, Treasury notes to the amount of
$5,4l3,OOO, making an aggregate available
fund on hand of $6,G58,00.
But this fund was chargable with outstand-
| ing Treasury notes redeemable in the current
| year, and interest thereon to the estimated
amount Of $5,2SO,OOO. There is also thrown
upon the Treasury the payment of large a.
mount of demands accrued in whole, or in part,
in former years, which will exhaust the avail
able means of the Treasury and leave the ac-
cruing revenue, reduced as it is IN amount, but-
thened with debt, and charged with the cur.
rem. expenses of the Government.
The aggregate amount of outstanding appro-
priations, on the 4th day Of March last, was
1913, 4O9, 6l6.4O, Of which, $24,2lO, 300, will
be required during the current year, and there
will also be required, for the use of the War
| Department, additional appropriations TO the
amount Of $2,5fl Il 80 SO, the special objects
! of which will be seen by reference TO the Re-
port of the Secretary at War. The anticipated
means of the Treasury are greatly inadequate
| to this demand. The receipts from customs
for the last three quarters of the last year and
the first quarter of the present year, amount to
| $l2, 100000. The showing an average reve-
nue. from both sources of 81 1886, $40 per month.
A gradual expansion Of trade, growing out ola
restoration of confidence, together with re-
duction in the expenses Of collecting and pune
tuality on the part Of collecting officers, may
cause an addition to the monthly receipts from
the customs-they are estimated, for the resi-
due of the year, from the 4th of March, at
$l2,00O,O0O. The receipts from the public
lands, for the same time, are estimated at $25-
| 100000, and from miscellaneous sources, at
$l7O, 900, making an aggregate of available
funds within the year of $I5,345,00O, which
will leave probable deficit of ST. l ,496, O32 SO.
10 me this 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 in the next three months,
Treasury notes of the issues of 1910, including
interest, about $2,55O,0OO. There is charga.
Bile in the same period for arrearages for taking
the 9th census, 1891, 1000, and the estimated
expenditures for the current service are about
$3,lO0,C COO, making the aggretate demand up
on the Treasury, prior to the first of September
next, about 81 100000.
The ways and means in the Treasury, and
estimated to accrue within the above named
period, consist Of about $6O4,OO0 of funds a.
valuable OH the 18th ult. an unissued balance
or nj a. .
Al, amounting to 1865, 900, making an az
gregate of about $6,45O,OOO, and leaving a
probable deficit on the first of Sep!embe: next,
of $4,S45, 900. &
In order TO supply the wants of Government.
| an intelligent constituency, in view of their
best interests, will without hesitation submit
to all necessary burthens. But it is neverthe-
less, important so 10 impose them as to avoid
defeating the just expectations Of the country
growing out of pre-existing laws. The act Of
the 2nd If March, 1888, commonly called the
Compromise act should not be altered, except
under urgent necessities, which are not beiev-
ed at this time to exist. One year only re-
mains to complete the series of reductions pro-
| vided for by that law, at which time provs,
ions made by the same law, and which thea
will be brought actively in aid of the manu-
| featuring interests of the Union, will not fail
a system of discriminating duties, imposed for
purposes of revenue, in union with the provis-
ions Of existing laws, it is to be hoped that
our policy will ia future be fixed and perma-
| nent-so as to avoid those constant fluctuations
| which defea, the very object they have in view.
| We shall thus best maintain position, which,
while it will enable MS the more readily to
| meet the advances of other countries calculated
| 10 promote our trade and commerce, will at the
same time leave in onr hands The means Of re-.
| talating. with greater effect, unjust regnla-
| tons.
In intimate connection with the question OF
| revenue is that which makes provision for
| suitable fiscal agent, capable of adding increas-
ed facilities in the collection and disbursement
| OF the public revenues, rendering more secure
| their custody, and consulting true economy
! in the great multiplied and delicate operations
Of the Treasury Department, Upon such an
agent depends, in an eminent degree, the es-
| Enlistment of currency Of uniform value,
which is of so great importance to all the es'
sen,ial interests of society, and on the wisdom
to be manifested in its creation much depends.
| So intimately interviewer are it's operations,
| not only with the interests of individuals, bus
of States that it may be regarded, to great
degree, as controlling both. If paper be used
| as the chief medium Of circulation, and the
power be vested in the Government Of issuing
| it at pleasure, either in the form of Treasury
drafts or in any other; or, if Banks be used as
| the public repositories, with liberty to regard
all sorpluses from day TO day, as so much ad,
| ded to their active capital, prices are exposed
| to constant fluctuations and industry 10 severe
| suffering. In the one case political consde-
rations directed to party purposes may contro''