Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1841-06-11
100000 90

viz: :. 100000 90
Making an aggregate OF 49,. 9,25l 1855 80
In another part Of This paper the views of the De-
parnent as to the mode of providing for the above de-
fct together with the residue of the existing public
debt, will be presented
From the year 1916 TO 1887, period Of
twenty-one years, the revenues
stantly exceeded the expenditures
The average annual surplus during
that time was 81 i ,46i,226 60, (see
tables and 2 making aggregate
excess of S240, as, 7Cl 81 Of this
there was applied 10 the extinction of
the national debt $20c 792 l27 Al,
and there was under the provisions Of
the act of the 23d Of June, 1896, de-
posted with the States see, lUl OH
81, and there remained on the lst Of
January, 1887, in the Treasury ofihe
United States, including the fourth
instalment due to the States, sur
plus Of 7,lO?,4I3 70
There were, also, outstanding debts due
and falling due to the Treasury arls-
ing from other sources than those of
the ordinary revenue, and which
were paid between tie lst Of Janu
airy, 1887, and a of March, 1911,
the amount Of Use statement d. 9,l24,747 on
There were, also, is sued within that Pc
Rod, and outstani'.g the 4th Of
March, 154l, TIE. Try notes 10 the !.
amount Of 5,64s,5l2 40
Making the aggregat, available means
which were IN the .easury the
lat of January, Il g., and which
came into it p-ior 20 the 9TH OF
March, l3Il, OYER and above the
rent revenue 81 ,So2 1o2 bo
From which deduct The amount 0ess
the trust funds) remaining in the
Treasury on the 1;h OF March, l5il 512,1lS 46
And there appears excess OF expen-
diture over the current revenue OF S3l ,olOOl4 2O
1t is proper remark that the entries the books
of the Register Of the Treasury do not 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 of 1912 36 a.
was on the I'd and 3st of October, 1910 paid by the
Bank of the United States its last bond to William
Armstrong, superintendent nj Fort Gibson, by order
of the Secretary of War. Though this in
fact received and expended those days, IT did not
find its way into the office Of the Register until the
4,h of March, l-4l which IT appears on his books
both receipt and an expenditure.
Thus and to this extent, within the last four years
were the expenditures pushed beyond the amount OF
the revenue. Tney were made TO absorb the surplus
in the Treasury and the outstanding debts due to the
u. S., that the Treasury was, on the 18th March
Ia4I exhausted of its and subject to heavy and
immediate liabilities 1t already burdencd with a
debt incurred in a time Of peace and without any AIDE
quate resources except the authority granted by law
to augment that debt
debt check its constant and rapd increase. We
find it, therefore, far past legislation and fnan-
cia arrangements characterize IT, permanent and in
creasing national debt he temporary expedents by
which has been sustane do not at all vary its
tal character.
the necessity of early and eectua prevent
its further augmentation. The obvious remedy is TO
increase the revenue as far as may be without unrea-
sonabiy burdenlng commerce, and to reduce the ex-
penditurcs within the limits of strict economy
But as it may not comport with the views of Congress
TO go into Il revision and adjustment of the customs
long before the act of March = 1888, to have its
final and permanent operation, the undersigned would
respectfully recommend, as temporary measure, the
levy Of duty of twenty per cent ad ralorcm on art-
Giles which free Of duty. which pay less du
ty than 20 per except gold and silver and the at
ces specifically enumerated in the nth section Of the
act of March I'd, 1888
fths be adopted, III estimated that there
will be received into the Treasury from in the
last quarter of the present year. about 000 all Of
the year 1872 about 22 100000 and in the year lS43
after the final reduction under the of March 2, 1898,
about S2 0o0 The details Of this estimate will be
found in the accompanying paper, marked E, and en-
closures.
II is believed that after the heavy expenditures
required for the public in the present wear shall
have been provided for the revenues which will ac-
crue from that, or nearly proximate rate of duty,
will detray the expenses of Government, and leave
surplus 10 be annually applied to the gradual pay
ment of the National Debt, leaving the proceeds of
the Public Lands to be disposed Of as Congress shall
think fit.
The general principles on which the final revision
of the Tariff is 10 rest perhaps simple and easy
be apprehended, but the work of revision ITSELF
adaptation and detail, must be work of time II
should be done calm reflection and careful delibc
ration with view to reconcile far possible, the
conflicting opinions and to promote all the various in
,erests of the whole People of these U. s. And ii
may sJmportant, in that adjustment, not only to
cprocaie fair and equal principles, and in liberal
spirit the concessions which may be accorded TO our
commerce by foreign naons but also 10 do justice to
our own citizens by meeting in like equal spirit any
heavy exactions prohibitions which foreign nations
may think fit to impose upon the importation of our
staple productions.
Some legal provisions also required to correct in
CAPABILITIES between tho duties upon sugar and moasses,
and the drawbacks upon refined sugar and rum manu-
featured or distilled from foreign materials. The rea.
ton between the dn,y and the dra back adjusted
by the acts Of J:ruary 2lst, 1929, and May 29th,