The daily Madisonian. [volume] (Washington City [i.e. Washington, D.C.]) 1841-1845, 1843-02-20
To the House Of Representatives:

herewith transmit TO the House Of Representa-
uves report made to me the 9Th instant by the
secretary Of the Treasury, on the subject OF the
present and prospective condition of the finances
You will perceive from II that even il the receins
from the various sources Of for the current
Year snail prove not TO have been overraed and the
expenditures be restrained within the estimates the
Treasury will be exhausted before the close of the
ana ,hat ,n ~'i be the case, although author-
y should be given TO the proper Department 10 re-
issue TrcaAry notes But the state OF fact, existing
at The present moment cannot fail to awaken doubt
whether the amount Of the revenue for the respect
i've quarters OF the year will amount to the estimates
nor u en,'rely certain that the expenditures which
VIII be authorized by Congress may not exceed the
aggregate sum which has hitherto been assumed a,
the basis OF the Treasury calculations
Of all the duties Of the Government none is NOR,
sacred and imperative than that Of making adequate
and ample provision for fulfilling with punct,iality
ITS pccuniary engagements, and aintaning the pub
lo faith involatc Any failure in this respect not
produced by unforeseen causes could not but be re-
4sroeo by our common Constituents as a serious ne
g'cet OF the public interests feel H. therefore TO
ne an indsi ensabe obligation while 10 much of the
session yet remains unexprcd to enable Congress
10 give TO the subject the consideration which il,
great importance demands most earnestly TO call its
attention TO the propriey Of making further provision
lar the public service Of the year
The proper objects of taxation arc peculiarly with.
IN the discretion Of the Legislature but IL IS the d,v
VI "e executive 10 keep congress duly advised of
the state OF the Treasury and TO admonisb il of any
danger which there may be ground to spprebend Of
failure IN the means Of meeting the Expenditure.
authorized by law.
ought not, therefore, TO dssemble nv fears ,ba,
there will be serious falling off in the estimated
proceeds, both OF the customs and the public lands
regard the evil OF disappointment in these respects
az altogether too great TO be risked IL by anv moss.
bility, II may be entirely obviaied
while am Tar from Directing, under pre.ent cir
cumstances, TO the recommend ton OF the seorc,,r
that authority he granted him to reissue Treasure
notes, as they shall be redeemed, and other su0ve.
lions which he has made upon the subject Yet il
appears to me to be worthy OF grave consideraton.
whether more permanent and certain supplies ought
not 10 be provided. The issue OF one note in re-.
demP''on OF another is not the payment of a debt
which can only be made, and must be made in IN.
end, by some form Of public taxation.
cannot forbear TO add that in country so full Of
resources Of such abundant means IL thew he b,,
judc'ously called out, the revenue. of the Covoro
ment, its credit, and its ability to fulfil ali n. ohI;,
tons ought not TO be made depcn..n, on ,empo,e
expcdieDi., calculations Of an ynoer,ain Oh,
rscter.
The public faith in this in all thing. els, o,ob,
to be placed beyond question and beyond con,,n-
gency.
The necessity Of further and full provision for
supplying The uaps Of the Treasury will be the more
urgent " Congress at its present session. should
adopt no plan for facilitating the 6nancia operations
OF the Government and improving the cure ncy Of
the country.