The daily Madisonian. [volume] (Washington City [i.e. Washington, D.C.]) 1841-1845, 1842-03-10
4 STATE OF THE TREAsURY-OUR DIPLo-
| MATIC RELATIONS.

Jointly, furnish information which, we trust
will stimulate the apathy of Congress into al
energy OF action for which the country has look
ed in vain during the three months OF the pre-
sent session. The reduced state Of the Urea
sury, as represented by the Secretary, and thai
in time of peace, imperativey demands from
Congress something more than retrenchmenl
in petty details OF expenditure for something
more than a retrenchment, even in important
matters, which cannot be brought into immedl-
ate operation-it requires instant action on the
part Of the Legislature TO provide means Tor
| supplying the present deficiency, while wisdom
must dictate the necessity of maturing sys-
tenn of permanent revenue to prevent the recur
renee of such a state Of things. But still more,
| at the present moment, is promputude required.
Whatever hopes we may cherish that the dliie-
| rences between this country and great Britain
will be amicaby adjusted, there is still posi-
| bllity, not very remote, that the result may dis
appoint these hopes. The diplomatic relations
between the two countries are of extreme deli
cacy and perplexty. TO those which are I'M
der discussion at present, we find IA new one
may probably be added In the event that all
efforts made by both parties for peace should
prove unavailing, still greater necessity for
providing means to supply the wants OF the
Treasury will exist. In peace, we learn that
the revenue is deficient; that the Treasury is
without funds to meet the legitimate require
ments of the Government. If such be our con
| dlton now, and if the prompt action Of Con
gress is demanded to meet the wants of peace
establishment, what should we not expect from
| the energies of its patriotism, in the antlcipa-
| ton Of conflict with the most powerful foe
whom we can be brought to encounter?
We have not said that blame was attached to the
individuals composing the Congress or any set of
men. We have not mentioned the fact that dur
ing three months, Congress has performed little
or none of the important business of the nation
We hope the exigencies of the country brought
before the Legislature so forcby as they now
are by the communications below, will give a
new impulse TO its action:
WASHINGTON, March 8, lS42
To the House Of Representatives.:
feel it to be my duty TO invite your attention to
the accompanying communication from the Secretary
of the Treasury, in relation to the probable demands
which will be made upon the Treasury for the present
quarter. II will be seen that, without arresting the
requisltion, which will be made by the War and
Navy Departments for the months Of March, April
and May, there will be unprovided for deficit oil
upwards Of three millions
cannot bring myself, however, to believe that n
will enter into the view Of any department of the Go
vcrnment to works Of defence now in progress
of completion, vessels under construction or pre-
paration for Having due regard to the unsettled
condition of our foreign relations, and the exposed
situation of our inland and maritime frontier should
feel myself wanting in my duty to the country, if
could hesitate in urging upon Congress all necessary
| appropriations for placing it an attitude of strength
| and security Such recommendation, however has
heretofore been made, in full reliance we'll on Con
gross on the well known patriotism Of the people
their high sense OF national honor and their determi
nation to defend our soil from the possibility, however
remote, of hostile INVASION
The dimnuon in the revenue arising from the
great diminuton Of duties under what is commonly
called the Compromise Act, necessarily involves the
Treasury in embarrassments, which have been for
some years palliated by the temporary expedien of
Issuing Treasury notes-an expedent which, afford
ing no permanent relief, has imposed upon Congress,
from time to time, the necessity of replacing the old by
new issue. The amount outstanding the 1th
Of March, lSi0 varies in no great degree from the
amount which will be outstanding the fist Of
| January next; whileln the interim the issues
rendered equivalent to the redemption of the old
ana at the emu OF the Hsca year leave an augmented
pressure the finances by the accumulation of in
terest.
The contemplated revision of the tariff Of duties
may and doubtless will lead in the end to a relief of
the Treasury from these constantly recurring embar
easements but it must be obvious that time will be
necessary to realize the full anticipaons of financial
benefit from any modification Of the tariff laws. In
the mean time, ! submit to Congress the suggestions
made by the Secretary, and invite its prompt and
speedy action
John 'rYIE