Boon's Lick times. [volume] (Fayette, Mo.) 1840-1848, 1844-01-06

means IN the Treasury, $4,000,000 90
And for the service of the fis-
cal year commencing 1st
July. S44, hey ond the pro-
bdbe revenue, al least 100000 90
sS,5OO,OO0 90
The loan of 1871 becoming
due LIST January, 1915, a.
mounlsto 5,672,976 So
The balance Of the Treasury
notes which were outstan-
ding on the Sd March,
1913, and were not re-
deemed by the last loan,
amounts to 4,6563S7 As
With respect to the last item, the balance
of unredeemed Treasury notes, it is suppo-
sed that adequate provision for the present
is made by existing laws. which authorize
the funding such notes in ten years stock,
or the reissue of them before the first of
July, 1914. Some observations will be
found in subsequent part Of this report
explanatory Of the views and course of
this Department in regard to these Treasu-
ry notes. In this place il is deemed prop
err only 10 express The opinion that no legis-
latInn will be necessary TO provide for this
amount of more than four millions and
Il half, other than the continuance by Con-
gress of the provisions of the act Of March
3, 1S43.
The loan made under the act of 2lst Ju-
ly, Al. is in terms redeemable at the option
of the Government after the LIST of January,
is45. vet it is not doubted that the under
standing Of the lenders at the time was, as
it always is in respect to loans on similar
terms, that it would be redeemed at the spe-
Gifted time. In the opinion Of the under
signed the practice of rendering loans in
definite or uncertain as TO the times of pay
ment, ought not to be INDUCED when it can
possibly be avoided. A postponement sup
posed 10 be temporary from year to year
embarrasses the operations Of the Treasury
by the uncertainty Of The demands which
may be made upon it. In the present a.
bundance of money, it is believed that
new loan might be obtained on ten or fif-
teen years stock, on terms more favorable
To the Government than those on which
that about to become due was procured
This course is recommended also by the
consideration that the probable deficiency
in the revenues of the next fiscal year to
meet the ordinary expenditures will be suf-
hcient To call forth all our resources without
ilIS lIllS dtUDuul.
The remaining eight millions five hun
dred thousand dollars, the estimated expen-
dlures over the receipts of the present and
next fiscal year, must he avoided in whole
OF in part by a reduction of the public ex-
pendliures. or provision must be made to
meet them by an increase in the revenue.
Both these topics, therefore, demand CON
sideration
First, reduction in the expenses of the
Government.
The subjects for retrenchment fall pecu.
harry within the province Of the legislative
branch Of the Government. particularly
those of general character. There are
some, however, which are necessarily bet.
Ter known to the Departments having
charge of them. 1t is believed that the
expenses of collecting The revenue from
customs may be materially diminished bv
the abolition Of some collection districts,
and of some Offices in other districts, which
have ceased TO be useful, and by more ex.
act regulation Of the compensation of those
officers who may be retained. The sub.
ecl has therefore been brought to the atten-
ton of Congress, and it is again respectful
y submitted 10 its consideration. ANY ad-
ditional information that has been obtained,
and the views of the department in detail,
will cheerfully be communicated TO the ap-
propriate committee.
A large and unnecessary expense is fre.
qnenrly incurred in the proceedings 10 OBJ
tain judicial condemnation of goods of small
value. which have been seized as having
been illegally imported. In one collection
district, and in single quarter, oul of for.
ty-lhree cases of seizure, balances of costs
were paid by the U. States in thirty-nine of
them, averaging tif1y-four dollars in zach
suit. This is probably an extreme case.
but the evil is known 10 be very general If
no claimant ventures to appear, the conclu-
sion seems irresistible that no defence CT
isis. II is submitted, therefore, whether a
more prompt and economical mode of pro-
ceeding may not be adopted consistent with
the rights of all. Congress has made libcr.
al provision for the remission Of forfeitures
where they have been incurred without
fraudulent intent, by short and simple pro.
cess, which saves The applicant the costs Of
trial. II would seem but just that SINH.
lar principle should apply in favor of tie
Government In cases where the apprais.