The Middlebury people's press. [volume] (Middlebury, Vt.) 1841-1843, 1841-06-08


present and uccruing, are insufficient 10 supply
the wants of the government for the current
wear. 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 Ss60.CO0. This includes The sum of 1915
600 deposited in the mint and its branches to
procure metal for coming and in the process of
coinage. and which could not be Withdrawn
without inconvenience-lhu leaving subject
to draft in the various repositories, the sum of
S645,OoO. By virtue of two several acts of
congress, the secretary of the treasury was au.
thorized to issue, on and after the fourth day of
March last, treasury notes TO the amount of S..
Ala, 1000, making an aggregate available fund
on hand offs ,O5s,o 600.
| But this fund was chargeable with outstand
| ing treasury notes redeemable in the current
year, and interest thereon to the estimated a.
mount of S5,2s0.000. There is also thrown
upon the Treasury the payment Of large a.
mount of demands accrued in whole, or ln'part,
in former years, which will exhaust the availo-
bic means of the treasury. and leave the accru.
ing revenue, reduced as it is in amount, bur.
lhened with debt and charged with the current
expenses of the government.
This aggregate amount of outstanding ap-
propositions, on the fourth day of March last.
was S33.429,6l6 so, of which S24210,300,
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 S2.5ll,1 1872 90, the special OBJ
jects Of which will be seen by reference TO the
report of the Secretary Of War. The antici.
pated means of the treasury are greatly made
quae TO this demand. The receipts from GUS
toms for the last three quarters of the last year
and the first quarter OF the present year. a
mounted TO Sl2,IoO.ooO. The receipts for
lands for the same time 10 S2.742, 400 60 show
ing an average revenue from both sources of
Sl,236,S70 per month.
A gradual expansion oftrade, growing out
of a restoration of confidence, together with
reduction in the expenses Of collecting and
punctuality on the part of collecting officers,
may cause an addition TO the monthly receipts
from the customs-they are estimated, for The
residue ofihe year, from the 9Th of March, al
Sl2,000,0O0. The receipts from the public
lands, for the same time, are estimated at ST.
100000, and from miscellaneous sources, at
$1,000 making an aggregate available fund
within the year of S15,3I5,000, which will
leave probable deficit of $ll,406,132 0s.-
To meet this some temporary provision is ne
cessary until the amount can be absorbed by
the excess of revenues which are anticipated 10
accrue at no distant day.
There will fall due within the next three
months Treasury notes Of the issues Of 1910,
including interest, about S2,s50,000. There
is chargeabe in the same period for arrearages
for taking the sixth Census, 1924 600, and the
estimated expenditures for the current service
are about SS,1O0.OO0 dollars, making the ag-
gregate demand upon the treasury prior 10 the
first of September next, about 81, 100000.
The ways and means in the Treasury, ano
estimated to accrue within the above named
period, consist of about S694,OOO, of funds q.
valuable on the 2Slh ultimo, an unissued balance
of treasury notes authorized by the act Of lS41,
amounting to Sl,955,000, and estimated re.
ceips from all sources. Of SO 100000, making
an aggregate of about S6,45o,00o, and leaving
probable deficit on the first OF September
next, of 81, $4,000.
In order 10 supply The wants of the govern
ment, an intelligent constituency in view of
their best interests, will without hesitation sub.
nit TO all necessary burthens. But il is, new.
erlheless, important so 10 impose them as 10 a
void defeating the Just expectations of the
act Of the second March, 1893, commonly call
ed the compromise act, should not be altered.
except under urgent necessities, which are not
believed at this time 10 exist. One year only
remains TO complete the series of reductions
provided for by that law, at which time pro-
visions made by the same law, and which then
will be brought actively in aid Of the manufac-
turing interests of the Union, will not fail to
produce the m s Der efcia results.
Under system of discriminating duties, i'm
posed for purposes OF revenue, in union with
the provisions of existing laws, it is to be hop
ed that our policy will in the future be fixed and
permanent-so as TO avoid those constant fluc.
tuations which defeat the very objects they have
in view. We shall thus best maintain a posi-
ton, which, while it will enable US the more
readily to meet the advances of other countries
calculated to promote our trade and commerce,
will at the same lime leave in our own hands
the means Of retalating, with greater effect, un.
just regulations.
In intimate connexion with the question OF
revenue, is that which makes provision for a
suitable fiscal agent, capable Of adding increas.
ed facilities in the collection and disbursement
of the public revenues, rendering more secure
theii 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 estab-
lishment Of currency Of uniform value, which
is of so great Importance TO all the essential in.
terests of society, and on The wisdom 10 be
manifested in its creation much depends. So
intimately interviewer are its operations, not
only with the interests of individuals, but o.;
States, that n NAV he regarded in a great de-
gree, as controlling both.