Carroll free press. [volume] (Carrollton [Ohio]) 1834-1861, 1843-03-03
STATE OF THE U. S. TREASURY
WASHINGTON, Feb. 10, 1913.
To The House of Representatives:

h6pEt6NuldlINO q puIl lDdN6 " UlO Oll
the Oh INST. by lhe Secretary Of the
Treasury. on the subject Of the present
and prospective condition Of the inan'
Ces.
You will perceive from it that even
iflhe Fece pts from The various sources
Of revenuea(or the current year shal
prove not 10 have been Overrated, and
the expenditures be restrained with.
IN the estimates, the Treasury will
be exhausted before the close Of the
wear; and that this will be the case. al
though authority should be given 10 the
proper Department 10 re issue Treasury
notes. But the sale Of facts existing at
the present moment cannot fail to ava
ken doubt whether The amount OF the
revenue Tor the respective quarters ol
the year will come up 10 The estimates,
nor is it entirely certain that the eXpen
ditures which will be authorized bv
Congress may not exceed the aggregate
sum which has hitherto been assumed
as the basis OF the Treasury calcaIa-
tions.
or all The duties Of the Government.
none is more sacred and imperative than
that oI making adequate aud ample pro
vision for fulfilling with puncluaIity lis
pecunary engagements and maintaining
the public credit invioIate. Any failure
in this respect not produced by unlor-
seen causes, could only be regarded by
our common constituents, as serious
neglect oI the public interests, ! feel
il, therefore, 10 be an indispensable OBJ
legation, while so much Of the session
yet remains uneXpired. as TO enable
Congress to give to the suhject The con-
sderaiion which its great importance
demands, most earnestly 10 call its al
tentior to The proprety Of making fur
ther provision for The public service oi
the year.
The proper objects oftaxation are pc
cuIiary within the discretion ol the Le'
pislalure while it is the duty Of the Ex'
ecu,ive TO keep Congress duly advised
Of the state of the Treasury, and 10 ad
monish it OF any danger which there
NAV be grouad TO apprehend o failure
in Tho means of meeting The expenditure
authorized by law.
Iought moi therefore 10 disSemble my
fears that there will be a serious falling
off in the estimated proceeds both OF the
customs and the public lands. regard
the evils OF disappointment in these re-
spects as altogether too great to be risk
ed if by any possibility 1t may entirely
be obVialPd.
While am far from objecting, unde
present circumstances, to The recon-
mendalion oc The Secretary, that aulho
rly be granted him TO re issue Tteasu
nv noes as they shall be redeemed, ant
to-other ggeslions which he has mad
on this subject, yet il appears TO me Il
be worthy OF grave consideration ~he
ther more pc ermanenl and cer,ain sup
plies ought not 10 be provided, Tn
issue of one note in redemption Of ann
ther ia not the payment oi a debt, whIc
must be made IN the end by some pub
lie taxation
cannot rorbear TO add, that in
country so full Of resources, OF such
bundant means, If they be but judicial
called out, he revenues Of the Govern
ment, its credit, and its ability 10 It'll a
its obligations, ought not 10 0e made d'
pendent on temporary eXpedlenls,
on calculations OF an uncertain charac
ter. The public faith in this, as in a
things else, ought 10 be placed beyon
question and beyond contingency
The necessity of further and full prt
vision for supplying the wants OF tt
Treasury will be the more urgent,
Congress al this present session, shou
adopt no plan for facilitating the tna
cial operations OF the Government al
improving The currency Of the coun'r
By The AID Of wise and efficient me'
sure Of that kind, not only would Il
internal business and prospe rity OF Il
country be revived and invlgorated. b
important additions TO the amount
revenue arising from lmporlalIons mig
also be confidently expected. Not on
does the present condition oI things
relation TO he currency and commerce
exchanges produce severe and disIe'
ine emOarrassmenIs in the business a
pursui 9 OF individuals, but i's obvla
tendency Is TO create also necesS
for The imposition of new burdens
taxation 10 order TO secure the COVER
ment aud the country against dscrec
from the failure Of means TO fulfil
public engagements
JOHN TYLER.
Tre1SnrU DeDdrtmenJ, Feb. 3, l8l