Martinsburg gazette. [volume] (Martinsburg, Va. [W. Va.]) 1833-1855, 1842-03-17
STATE OLE LILLE TREASURY.

s On Tuesday the 9Th inst, the following message
was received by the House Of Representatives
from the President of the United States. IL pre-
SCENTS melancholy picture Of the state of the Irea
.nry. The message enclosed statement from the
Secretary of the Treasury, showing the means and
Liabilities Of the government, on the LIST March,
1912. The total estimated expenditures for the
current three months set down at 50 574 040,
TO meet which there will be but s6,3l9 1858 So,
showing deficit of 50 254,6s6 AZ.
This is the year, il will be recolIee,ed, tina, the
C,mpromi.e Act expires, when all the duties upon
foreign importn,ions will be stationary at 90 per
cent. But it is now discovered that the increased
and necessarily increasing expenditures Of the gov
efnmen, Of the United States demand lager rev.
enuc ,hon levy % 90 pes cent. spon the imports
Of the country will produce, and hence the call Of
the President upon tha House of Representatives
to provide the ways and means to meet the posi-
tive and pressing wants Of the Treasury
WasHfsoroN, March 8. I842.
To lie House Of Representatives.:
feel /, to be nv duty to invite your attention 10
the accompanying communication from the Secre-
,aiy of the Treasury, in relation to the probable
demands which will be made upon the Treasury for
the present quarter. IL will be seen that, without
arrestng the acquisitions which will be made by
the War and Navy Departments for the months OF
March, April and May, there will he unprovid-
cd for d,icit OF UPWARDS OF three millions.
cannot bring myself, however, to believe that IL
will, enter into the view of any department of the
Government to arrest works of defence in pro-
gress Of COM eiion or vessels under construction
OF preparation for sea. Having due regard TO the
unsettled condition Of foreign relations, and the
exposed situation af out inland and maritime from
tier, | should feel myself wanting in my duty 10
the country, il could hesitate in urging upon Con
gress all necessary appropriations Tor placing it in
IN attitude Of strength and security. Such recon-
mendation, however has heretofore been made In
full reliance as well on Congress as on the we'll
known patriotism of the People their high sense Of
national honor and their determination to defend
our soil from the possibility, however remote, OF
hostile Invasion.
The dminu,ion IN the revenue arising from the
great dimnuiion IS duties under wha, is commonly
called the compromise act necessarily involves the
Treasury in embarrassments, which have been ni
some years psatcd by the temporary expedien
Of issuing Treasury notcs-an exPedient which. al
foriing no permanent relief, has imposed upon
Congress, from time u time. the necessity OF re-
placing the old BY issue. The amount out
standing on The 4h Of March 1910. varies in no
great degree from the amount which will be out
standing on the first of January next; while in the
interim the new issues are rendered equivalent TO
the redemption of the old, and at the end Of the 6s
cal year, leave an augnentabe pressure on tie IL
nances by the accumulation of interest.
The conte mplatsd revision of the tariff of duties
may and doubtless will, lead in the end to relief
of the Treasury, fIom these constantly recurring
enbarrassment,; but ii must be obvious that time
will be necessary realize the full anticpations o.
financial benefit from any modification OF the tariff
laws 10 the mean time, submit to Congress the
made nv the SecretnrV. and invite its
promp, and speedy action.
r- JOHN TYLER.