The Middlebury people's press. [volume] (Middlebury, Vt.) 1841-1843, 1843-03-22
THE FINANCES OF THE UNI
TED STATES


TED STATES.
MIR. FILLMORE, as chairman of the Com
mittee of WAYS and Means in the House Of
Representatives, has made very able ex~
pose of the financial position of the General
Government in connection with the late
Message Of the President, stating that even
if the receipts from the various sources OF
revenue for the current year, shall prove not
to have been overrated, aud the expendi-
lures be restrained within the estimate, the:
Treasury will be exhausted before the close
of the year and this will be the case, al
though authority shall be given TO the pro-
per department to reissue Treasury notes
We very much regret that our limits prevent
US publishing this expose entire, and thaS
we must coDtine ourselves to an attempt la
give an outline of it.
He first contrasts the above passage ia
Message of the President with the letter Of
the Secretary Of the Treasury, in which tho
aggregate, of the receipts for the calendar
year l5A3 are estimated at S23 333 ,46O.CN.
and the aggregate expenditures S22, 932-
1872 90, leaving surplus in the ! reasuTv
on the first Of january, 1914, of $300,627
09. Mr. Fillmore expressed himself una
bic 10 account for Il Is contradiction be-
tween the President and the Secrstatr, aEi
points out the embGrrassmenis resulting To-
the House, from being informed at the close:
OF the session by the President that the re-
ports of the chief financial officer OF the all
minstration, made to them, are not wortEy
of confidence.
The President not having informed tl,a
House on what ground he believed .'the
Treasury will be exhausted before tho closn
of the year." and that body having no facts
before them on which they could rely, that
went TO Impeach the yeracity Of the SecIr-
tary's statement, they could ony resort to u
general course of reasoning on the subject
The receipts from the customs are first
passed under review, and the committee
come 10 the conclusion that there will ha
no falling of from the reduced estimates III
the Secretary. in this branch Of the revenu,-
The receipts of the last quarter were So
1880 10, notwithstanding the effects I'll
the new tariff were then felt--which Is c.
quail TO 3l2, 465.4e5 per snnum. and tho
Secretary's estimate is sl3,00U,00o.
The next branch Of revenue. the public
lands, is then passed under review, and ia
regard to them the committee say II is very
difficult to form any estimate Of the receipts
from that source, without knowing what the
President intends to do respecting the pub
lie sales, but they observe that il Is undt'
stood that no public sales have taken plac,;
for the last two years. Emigrants an.i~us
TO obtain presumption rights are settling u
on the public domain and it is only necc:-
sary TO bring this land into the public mai
ket bv auction, to realize a large amount
to the Treasury. The ordinary sales 1T
private entry may or may not equal the g.
innate but the committee have No hesifa-
ton IN giving it as their opinion. if the pub
lie sales shall take place in manner best
calculated 10 promote the good Of all inie-
rested, that the full amount estimated NAV
be realized from that source. K depends
on the President, and on his will alone,
whether this shall or shall not be done.
The President has expressed no dis;rusl
of the correctness OF the estimate of the 9th
er items, that 90 to make up the total re-
ceipts into the Treasury for 1913 TO the n
mount of S23, 323.400 0s.
Mr.. Fillmore then takes up the probable
expenditures Of 1913, which Of course ~
wolves the amount Of appropriations, aI.d
believing that the business of the session Is
sufficiently matured, that an estimate cal
be made of those which can be relied or,
he gives the following tabular statements
Calendar year Calendar y,Hr
Civil and diplomatic Isr,nnd 1879. l-42