Wheeling times and advertiser. [volume] (Wheeling, Va. [W. Va.]) 1839-1849, 1843-02-18
STAT OF THE U. S TREASURY

"
In the House or Representatives., on
Monday evening, after .ay letter was
Closed. the following message from the
President Of the United States was read
WASHING ron, FEB. I9, is43,
To The House Of Representatives.
! herewith transmit 10 the House OF
Representatives report made to me on
the 9Ih inst, by the Secretary of the
Treasury, on the subject Of the present
and prospective condition Of the finan
ces
You will perceive from It that even
If the receipts from he various sources
OF revenue for Tic current year shall
prove not to have been overra ed, and
the expenditures be restrained within
the estimates, tho Treasury will te ex-
hausted before the close Of the year land
that this will be the case, although
authority should be gwen to the pro
per department 60 reissue Treasury
notes. But the state Of facts existing al
the present moment cannot fail to ava
ken doub; whether the amount OF the
revenue Tor the respective quarters of
he year viii! come up 10 the estimates,
nor is il entirely certain thut the expen
ditures which will DO authorized by
Congress may not exceed the aggregate
sum which has hitherto been assumed
as the basis oithe Treasury calculations.
OF all the duties Of the Government.
none is more sacred and impe ra;ive than
that Of making adequate and ample pro
vision for fulfilling with punctuality it's
n r ~ -
the public credit inyiolate. Any failure
IN this respect, not produced by unfor
seen causes, could only DO regarded by
our common constituents, as a serious
neglect of the public Interests. feel
IT. therefore, TO DE an indispensable obi
CATION, while so much ofths session yet
remains unexplred, as to enahle Con-
gress to give to the subject the consider.
alton which its great Importance de-
man DIS, most earnestly to call It's attention
to the propriety Of making further pro
vision for the publ service Of he year.
The proper objects Of taxation are Pc
culiarly within The the discretion o. The
Legislature while it is the duty OF the
Executive to keep Congress duly advised
of the state Of the Treasury, and to adj
monish it OF any danger which there
may be ground to apprehend OF failure
in the means Of meeting the expenditure
authorized by law.
ought not therefore to dissemble my
fears that there will be serious falling
of in the estimated proceeds both of the
customs and the public lands. lregard
the evils Of disappointment iE these res
poets as altogether too great to be risked
If by any possibility it May entirely be
obviaied.
While am far from object ng, under
present circumstances,to the recommen-
dalton of the Secretary that authority be
granted him to REISSUE Treasury notes
as they shall be redeemed, and to other
suggestions which he has made on this
subject, yet it appears to me to be wor
thy of grave consideration whether
more permanent and certain supplies
ought not te be provi led. The sue oil
one note in redemption of another is
not the paymenl of debt, which must
be made IN the end by some public taxa
ton.
] cannot forbear 10 add, that, in a
country so full OF resources, Of such a
bundant means, ifIhey be but iIdicially
called out, the revenues OF the Govern
ment, its credit. and its ability to ill all
It's obligations, ought not to be made de
pendent on temporary expedients, or on
calculations Of an uncertain character.
he public faith in this, as in all things
else, ought TO be placed beyond question
and beyond contingency.
The necessity of further and full pro.
vision tor supplying the wants of the
Treasury will be the more urgent, If
Congress, at this present session, should
adopt no plan for facilitating the Rnan-
cial operations OF the Government and
improving the currency OF the country.
By the aid OF wise and efficient meas.
ure Of that kind, not only would the in
ternal business and prosperity OF the
the country be revived AMI invigorated,
but important additions TO the amount of
revenue arising from importations might
also be confidently expected. Not only
does the present condit ion Of things in
relation to he currency and commercial
exchanges produce severe and distress
ing embarrassments in the business and
pursuits Of individuals, but its Obvious
tendency is to create also a necessity
for the imposition OF new burdens OF
taxation in order TO secure tho govern
ment and the country against discredit,
from the failure Of means 10 fulfil the
public engagements.
JOHN TYLER.
TREASURY DEPARTMEKT FEB. 9, 1843.
GrD. p,,r..,ort - 49, AZ