Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1842-01-13

q, before VI IS chafL't VIII oeot.
Tn. amount the Secretary states
10 De 2lo'Iol =
This will reduce the anticipated deficit
"" 10 s3,2iC,425 %
There was another ten 'nt Gcec IN tie
Srctrtar, 5 estimate 81 expenditures
for tne last ten m"niAs Il tins year,
wheel. MAS clearly etfonAms. lie al
lsdrd to an a'"oanl Of as"ry notes
f,ur;h Of AiaTcn OF the re, sent vrsr,
and MI upon thrtrfscc yabit MI The
next yrar. Brcause i!Cs weekly law
receivable in payment q pnol'c dues,
The Secretary had 4 saHed lial they
would come IN for redemption, IN ;.iat
way before the cloSr VI the year, hot
they were ali per cent. notes, and
would not come 10 any extent Willie
tina, interest was running upon them.
The Whole amount was =! ,llD,6ll o.,
and il was perfectly sa'e 10 expect that
al least 1000 900 W at them would
rrmain uul TIL next Yes, when they
would become due, und the interest
would stop. To tins exi"nt therefore,
the Secretary had Clearly over-esiina.
led the expe nd,turts 81 ale year IN TINS
one ilrm aud TINS anaGnt should De
deducted from ms crlct Si,Vou,uVo w
THIS will reduce his deaciency or debt,
GAS 10 the first two items above deducted from the
estimated drc Of The al the end OF this year,
Il seemed 10 hun there cpuld be no question IN any
Quarter The first amount Of appropriations
not vet Innde and whr! mig h. not he made; ana the
second was money actually IN the Treasury and sub
ect 10 draft al pleasure 10 meet any existing appropra
Ton So lar theore, necessity Tor call OF Congress
TO supply means te Treasury was presented and no
deficit should be presented composed oi those items 10
~ re the appearance OF such necessity As to The THIRD
item deducted IL had nade inquiry and he found ila
thr Il uer cen, Treasury notes not due were SUCH dc
! nand both from individuals and BANKS, as n safe and
profitable investment, HAT the Secretary OF The lfeasn
~ was constantly compelled to dscae applications t. 's
sue them IN exchange of CON, bihSa5c funds N
York Indeed, n member Of th,s body had. within q
very few DAVIS past made Application, behalf ni
frent for such exchange - tie amount OF S2o,o0O
and the Secretary found u 10 be h's duty to decline II
Was it likely, then, that these notes, drawing SIX pei
cent nierest and having from seTcn II ten months to
RIM would he voluntarily paid into the Treasury instead
Of money: Was il likely that such roes would be vol
UNFAIRLY 50 paid hereafter when We were dispensing
with all demand for gold and silver III the payment o.
the pubic Gues aud have already done that SO ia
as the action Of this body concerned? Was il
likely that an individual, or a bank, would pay ou
notes resting upon the faith and credit OF this Go
vcrnmen', and drawing an interest oil SIX per cent
where any specie paving bank note would make The
nnyment as we'll aud would draw no interest TX
pe.encc had already answered these inquiries fnr these
notes had not for public dues TO any consider
able extent when they were not yc! due, heretofore,
although one quarter of all payments were required &c
be made in Treasury notes or III gold and sdves-
There could not be doubt Therefore, that the Score
ary OF the Treasury had, relation 10 this item, over
estimated the demands upon the Treasury during the
year by. greater sum lhan was above deducted
/ ..Wna, then was lne issue tend red III this aspect oil
the report: The probable dr6si ~, the close Of The
! year, Congress not having been go, was brought
down from more than ,acns I'~i very ,rle more
than Two millions and quarter, without making other
deduc lions Which could not be exactly estimated IN
specific sums; and the rca! question was, should the
Secretary oi the Treasury, with means N prospect 10
meet more than the whole appropriations for the service
a. the year. and redeem all the lregsury notes which
would become redtenahe even by his own calculation
81 OH graduate The expenditures by The state OF the
Treasury, even al the risk Of e5p"ndaT Two and 4
quarter millions less, upon tho u>iandng apprnprIa
lons o iormer years, than IL WAS MS uclihalon &c
! SPEND
"Nr (aihouns Expose 81 Hr E~irg's false estimate q
he d.Gcd jW i-il.
i Mr. Calhoun SAID, t.at Il impossible for any one
to read the report q; the Secretary, without being
struck with The sacilude apparent throughout, /,
make out urge d, !ct the revenue Of the year ST.
yr ca, was his socuude, that II betrayed HIM into nu
uiernus errors, winch have been - fully exposed bJ
The two Senators who preceded nc On The same side
that d, not feel called IN 10 add a.word 10 what they
have SAID IN ,ha, .rsprct. What propose, IN con
necon wth what mny be calrd tie financial pnrt d
the report show, b. brief and condensed safe
meat what would b. ihr dtfc n, the end of The jea
accord NJ ,hr data furnished By the Secretary hun
self, Collected from ifrrent portions oil ms report Du
all from himself, without AIDING an estimate OF n
cure "f my own
| "According, then, 10 his own DATA, the available
means Of The reasury sor The fenF, intending the In
lance the End othe last year, Treasury notes author
z BE- issued dnrngAhe yrnr aud The revenue from
all sources w. mid be $2S942,933.
1.-THE actual drmrud IN hr Treasury for the yea
will BE-, on his data, S25127'o hsve obtained thu
result fir from h,s statement III ~ annual appopsia
lions h- calls thrm definite nplropa t ons) made dur
ing the last session. which he pats down at Sl7,g37,
9;i; next from hr permanent appropriations payable
IN tn year, Sl,75lll5 f.Ilowed by Treasury notes
which he estimates wall fall due II The year. come
into The Treasury in payment of duties, making So,
2S3, S3l. These itemsare all iaktn from 18th pug,
| Treasury report, House document
"Subtrac, the aggregate means OF the year tS24942,
1851 from the aggregate demands, (S2S ,02776) ant
the d-fic'r would be S3,c69,s4l.
"Bu,ff his 'w" items 'llst be clearly deducted &c
T. the m % IN %s' %n s
l"nsns to the Treasury, Next an overcharge in thu
disbursements of Sllo6ll Of Treasury notes, ISSUED
under the Of eio between the Sls, December $40
and 9Th of March, lS4I ani Which will fall due I'll