Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1844-04-02

administration Of Mr. Van Buren,. Following the vi
cons legislation which the period of surplus revenues
had introduced, Congress had continued high appro-
priatons; after the revulson in the monetary STAIRS of
the country cut off the revenues go that while small
deb had been contracted than fifteen millions of
the apProprial ons of former years remained unex-
pended In the face Of these facts the Congress of
1910 A. appropriated but about Gig h.etn millions and
quarter for the service of that year Two months Of
The year had expired when the new administration
came into power, and yet the Secretary proposed TO
rxpend S2l,2lO,OO0 OF the existing appropriations
had recommended new appropriations amounting to
mere than two aud half millions, also, for expendi.
ture within the remaining ten months of the year
Inns was adopting rate of expenditure hey ond THIRTY
MILLIONS per annnm ; and when recommended in the
lace OF l deficient Treasury and increasing debt,
seemed to give meaning and emphasis TO the recon-
mrndation, that Loan should be raised to pay such
debts "as ,oW necessarily accrue in this and the ensu-
ing gears"
Tins TO produce the deficit in the Treasury Of
more than SIX millions at the close of the wear ami
more than and half millions of the proposed ex
pendure must be appropriated by The new Congress,
or the deficiency would not be experienced Ii mex,
appears that 81 ll06l o. of Treasury notes. issued
IN the year le4I aud upon their face payable till
alter the expiration OF year, brought into the es
umate Q! the expenditures Of 1911. The analysis as
sumes that the fractional amount mag be paid IN dur
ing the year. tor public dues and passes the million over
10 the year lc12, when the would become pay
able And lastly, it applies 10 this deficiency S2l5,
| lal 6, money which Mr.. Van Buren's admnsra.
ton lett IN The min and which The Secretary made
application of and, in this way, II shows the true de-
hclency III the close OF the year ISL setting aside any
new appropriations 10 be made by the Wing Congress,
at lis extraordinary SESSION, TO be about and guar
ter, instead of SIX millions.
The next statement Of the Secretly follows the last
Immediately and closely, and, indeed, commences III
that deficit 1t appears 10 be what he intended for his
statement OF the great and alarming debt, and mads
n conformity with his recommeu datlon for loan
as before gwen, embracing the existing debt, the adj
dons which he anticipates may be made to II during
the residue ut the year Isl aud the whole of the year
lo42; both by The operation of then existing laws and
by virtue OF such laws the Wing Congress
might pass The stages taken by the Secretary 10
reach ms final onouut worthy of notice He starts
with the deficit OF SIX millions and upwards, which lie
supposes may exist a, the close Of the year 1884, and
which has just been examined lie then sweeps in all
the Treasury notes issued, or which could De issued
thereafter, by virtue of any law then existing suppos-
ing that the whole amount may b. required 10 be is
sued and paid, either ISL lo42, and IN this way
makes up further amount "of debt and deficit of
something beyond SIX Millions These two
he adds together and presents The aggregate of Sl2
0oe 2l5 j.; but what part Of Is debt al present
sling what part rs 10 become debt by the close OF
le4, and what part IS 10 remain until 1872 before it
iakes the form Of "debt or "defcit, the statement
enables one to tell Not seeming content howessT.
with this aggregate the Secretary throws 81 600,
600 cr 'reusury balance y hch he til nks will be
vsneni. if the power 10 treasury notes ceases
though, WITH TINT power, lie says one quarter of IT vii
be sufficient. In this way he comes out with new
aggregate Of Sl60-52l5 l., AID calls it oil "he
tinaled deficit The statement follows in his OWE
language:
Leaving uuprovded fer, Of The de
mands of the present yea. the sum Of St 000,Hl II
There viii, also, be receivable for pub
| lie dues in the present year, or paya
BILE in 1912, treasury notes, the is
Of the present year, viz
Issued under the oct Of
1871, prior 10 the Alb
of March S673,65l -
Issued under the act Of
1910, after the Sd OF
March 4l3,o93 :"
Issued under the act OF
lS4l or 10 be issued af-
Ter 4lh Of March, and
included in the estimate
Of ways and means 100000 90
60S7 pa O6