The Cecil Whig. [volume] (Elkton, Md.) 1841-current, 1843-12-09
at Snez. i17Egypt, ON The 25lh Of Seplem-

est vigilance of the Cove, nnenl has been
exerted to preserve them al peace among
themselves, and 10 inspire them with leel-
Ings OF confidence IN the justice Of this
Government, and to cultivate friendship
with the border Inhabitants. | his has
happily sue ceede' TO great extent; but it
is sui ject of regret that hey suffer them.
selves lnsome mslaucesto beI.posed upon
by arInl and designing men-and this
notwithstanding all The efforts OF The Gov
eminent to prevent it.
The receipts into the Treasury for the
calendar year 1913, exclusre of iuan-,
we're little more than eighteen millions III
dollars; and the expenditures, exclusive "t
payments on the public debl, viii have
"een about twenty three millions of dol
'a's. By the Acr OF 1912, IA new arrange
henl OF the fiscal year was made, so tina,
u should commence on the Isl Cav OF July
N each year. The accounts and e. inla,rs
or he current fiscal wear, viii show Iha,
he loans and Treasury notes made and
issued before The close of the LAST Con-
2ieSs. TO mtel the anticipated drnClencN.
ave not been entirely nd quate Allhou-h
on the l>t ol October last. there was bal
ance IN The Ir,asulN III consequence ii
he pre- vision Ihus made ol s53.9l4 ,OS3 n.
vet the appropriations already made b>
Congress will absorb that hala rcr and
cave probable deficiency oItwo millions
d dollars al the close of the present fl, cal
war. There are outstanding Trea,ui,
nnies to about the amount of four NIL
lions six hundred thousand dolla s; and
should they he returned unon the Treasury
during the fiscal year, they will require
require provision Tor their redemption.
do not however regard this as probable,
since they have obviously entered into
the currency of the country, and will
continue to form portion Of il, if the
system now adopted be continued. The
loan Of lS4l. amounting to ss5,672 .976 SIS
falls due on the lsl of January 1915. aud
must be provided for or postponed by
new loan. And unless the resources of
revenue should be materially increased by
You, there will be probable deficiency
tor the service of the fiscal year ending
June 3oih' 1915, of upwards of about
tour millions Of Goiiars.
Inc '"lus.un incident to an enormously
excessive paper circulation, which gave
tr'ii"us value to every thing. and slim
nla ed adventure and speculation to az
"xravaganr, exlell. ha, been happily sue
cecdtd bN the srhsltunn If The precious
metals and Taper promptly rrdttnahlr IT,
specie. and thus false values have d IA
scared. and a FOUNDER runhii II of lhiuu.
has been Introduced. This Transform al
though lrtln aleIy Connected with til,
prosperity "i the country. has npverihr-
less been attended " h much enharrass
ment to the Government, in its fnanria
concerns. So long as the foreign imp,r-
lers could receive paymen, for their car
goes IN currency of greatly less value
than that IN Europe, but FULLY available
here in The purchase OF our agricultural
prodneti"hs.thelr profits being Imncasur-
ably augmented by the operation, the
shiPm'n,s were large and the revenues OF
the Government became superintendent
But the change in the character oflhe cir.
collation. from nominal and apparently
real value, in the first stages of It's exist :.
ence, TO an obviously deprecated value in
It's second, so that it no longer answered
the purposes OF exchange nf barter, and
i ultimate substilutIonh by a sound metal c
and PAPER circulation CT mbined. has been
attended by diminished importa,ions. and
a consequent falling off in the revenue
This has induced Congress. from 1897,
10 resort to the expedienl of issuing Trea-
snry notes, and finally Of funding them.
in order 20 supply deficiencies. caun",
however withhold the remark that it is In
no way compatible with the dignity OF
the Government that public d, BIT should
he created IN time oil peace to meet In,
current expedlentS should lie resorled 10
an rl"rgpr Than it is possible to avode
them. The Executive can do no more
than apply the means which CnngrtS>
places IN It's hand for the support oi Gov
eminent; and happily for the goou OF the
county and for the preservation OF it,
liberties, 1t possesses o power to lew en-
VII ''lC I'Spi)if, VI 10 IOice rom
llem contributions To the public revenue
in any form. II can onv recommend
such measures "a NAV, IN its opinion, be
called ior by the vans OF the public SER
wee, 10 Congress, with whom alone rests
the power TO 'Iay and collect taxes, duties
lmposis, and excuses" This dn!v has
upon several occasions heretofore been
performed. The present condition of
ihInge gives flat'ering promise that trade
and commerce are rapidly reyivinp
and, fortunate Y for the country. the sour
ces of revenue have Only to be opened, in
or er To prove abundant.
While we can anticipate on consider
able increase in the proceeds of the sale Of
The public lands for reasons perfect, OBJ.
vIous TO all, for several years to come, vet
Tie public lands cannot otherwise than be
regarded as the foundation of the public