Vermont watchman and State journal. [volume] (Montpelier, Vt.) 1836-1883, 1842-03-21
TIE FINANCEs-spECIAL MESSAGE.

WARRINGTON MdTCH o. lCf<.
TO The House Of Representatives.
feel it 10 be my duty 10 invite your attention
TO the accompanying communication from the
Secretary OF the Treasury in relation TO the prob
uble demands which will he made upon tue Treas
ury for the present quarter. 1t will be seen that,
without arresling the acquisitions which will be
made by the War and Navy Departments for the
months of March, April, and May, there will be
unprovided for deficit OF upwards of three mill
ions.
/ cannot bring myself however, to believe that
il will enter into the view of any department of the
Government TO arrest works OF defence now in
progress OF completion, vessels under constTuc
ton or preparation for sea. Having due regard to
the unsettled condition Of our foreign relations,
and the exposed situation Of the inland and mari
time frontier. should feel myself wanting in my
duty TO the Country, If / could hesitate III urging
upon Congress all necessary appropriations for
placing il in an attitude of strength aud security.
Such recommendation, however, has heretofore
been made, in full reliance as we'll on Congress as
OIL the well known patriotism Of The People, their
high of national honor, and their determina-
ton to defend our soil from the possibility, how
ever remote, OF hostile invasion.
The diminution in the revenue arising from the
great diminulion Of duties under what is common
" called the Compromise Act, necessarily involves
The Treasury in embarrassrnents, which have been
for some years palliaed by the temporary expedi-
ent of issuing Treasury Notes-an expedent
which, af1ord'ng no permanent relief, has imposed
upon Congress, from Time 10 time, the necessity
OF replacing the old by new issue. The amount
outstanding on The 4lh of March, $780, varies in
great degree from the amount which will be
outstanding the first of January next; while in
the interim the issues rendered equivalent
10 the redemption OF the old and al the end of the
fiscal year leave an augmented pressure on the f.
nances by the accumulation of interest.
The contemplated revision Of the tariff of duties
Ill. q
of the Treasury from these constantly recurring
embarrassnents; but il must be obvious that time
will be necessary 10 realize the full anticipations
of financial benefit from any modification of the
tariff laws In the mean time, | submit TO Con-
gress the suggestions made by The Secretary, and
invite its prompt and speedy action:
This message is accompanied by report from
the Secretary of The Treasury, according with it's
suggestions, and stating that the Treasury labors
under pressing endorsements. Relief had been
expected from the passage of tho Exchequer bill,
which would in effect add Sl00O0,O 900 to the means
at command Of The Government; hut the failure
| OF Congress 10 pass IL has left The Government
entirely without resource. The net revenue from
! Customs for this and the two following months is
estimated at only $3,250,000; the cash on hand is
but $4l6,260 %, (of which 100000 belongs to
The States y aud the authorized issue Of Treasury
| Notes remaining unssued amounts 10 hut So, $685.
| 003 80; making the entire means within reach o.
the Department Tor these three months sc, 1919 35S
SO against which there is required
For the redemption Of Treasury notes 81 ,465G0(
For the War service, 322004t
For the Naval service, 227400(
For the Civil List, Interest Debt, &C., 2275 00(
Total requirements for the quarter, 1854, 04t
From which deduct resources, 6,3I9,35;
And there remains deficit OF S3,254 SO,