Madison Whig advocate. [volume] (Canton, Miss.) 1839-1841, 1841-01-02


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degree l. north latitude tba commits
sion ai rneA on tHa lG.h "a jane last.
t1afaemb.e on tho lFtof November, Zee
iHe pufUo.s ol establishing accurately
ihg Intersection of Goo jb.bysocond de.
gree oI latitude W.h the western bank
of the Sabine. end lho meridian thcnea
% Red river ltis presumed that thc
work will be concluded Va the present
season
The prescn, sound condition Of their
finances and The success With which SIN
bsrrassmenls 10 regard 10 them. attImes
apparently inSurmountabe. have been
overcome, are matters upon which the
people and Government &c he United
States, may well congratulate them
selves an Overlooking treasury, how.
ever It may be regarded as an evidence
Of public prosperity, is seldom conducive
10 the welfare of any people; and expo
rieuce has demonstrated its incompati-
biIty with the salutary action of polti-
cal institutions like those Of the United
States Our safest reliance for financial
efficiency and independence has, on the
contrary, been found 10 consist 10 ample
resources unencumbered with debt; and,
in this respect, the Federal Government
occupies snguIarly fortunate and truly
enyiable position.
When entered upon the discharge Of
my official duties in March, 1897, the
act Tor The distribution Of the surplus
revenue was IA course of rapid execu-
ton Nearly twenty-eight millions Of
dollars Of the public moaoys were, in
pursuance Of its provisions, deposited
with the States in the months of January,
April and July Of that year, In May
there occurred general suspension Of
specie payments by the banks, incading,
with very few exceptions, those in which
the public moneys were deposited, and
upon whose fidelity the Government bad
unfortunately made itself dependent for
the revenues which had been collected
from the people, and were indispensable
to the public service. This suspension,
and the excuses in banking and COM
mcrce out Of which it arose, aud were
greatly aggravated by its occurrence,
made, 10 a great extent, unavailable the
principal part Of the public money then
on hand; suspended the collection OF
many millions accruing on merchants
bonds; and greatly reduced the revenue
arising from customs and the public
lands. These effects have continued to
operate, in various degrees, 10 the pre-
sent period; and, in addition to the de-
crease IN the revenue thus produced
two and half millions Of duties have
been relinqushed by two biennial reduc-
tions under the act Of 1888, and proba.
| bly, as much more upon the importation
Of iron for rail roads, by special legisla
! ton.
Whilst such has beer our condition
for the last four years in relation to re
genue, NO have, during the same period
hesn subjected to an unavoidable contlna
oncs Of large extraordinary expenses
nocosss lily growing out OF past transac
,,ons and " itch could not be immediate
Inv arrested withs.t great prejudice tC
/ The public interest OF ,he59' the charge
upon the Treasury, in consequence o
/ the Cherokee treaty alone, win Out az
verting to others arising out OF lnur2r
treaties, has already exceeded five mil
/ lions Of dollars; that for the prosecution
Of measures Tor the removal of the Sc
minole Indians, which were found IN
progress, has been nearly fourteen mil.
lions; aud the public buildings have re-
quired the unusual sum Of nearly three
millions
II affords me, however, great pleasure
10 be able to say, that, from the com
mencement Of this period to the present
day, every demand upon the Govern
mont, at home or abroad, has beer
promptly met. This has been done, no
only without creating permanent debt
or a resort to additional taxation in any
form. but 10 the midst Of a steadily pro
pressive reduction OF existing burdens
upon the people, leaving still conslde
i rabe balance oil available funds whci
will remain in the Treasury at the enc
Of the year The small amount q Trea
sury notes not exceeding four and bal
millions Of dollars, still outstanding, an'
less By twenty-three millions than to-
United States have in deposi,e with tn
States. is composed Of such only as ar
-. l.. - hat-a not hsnu preCpu ri