The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1844-03-27
REPORT ON THE TARIFF BILL.
M r. M c X Az.
COMMITTEE OF WAYS AND MEANS MADE THE
\

COMMITTEE OF WAYS AND MEANS, hADE THE
FOLLOWING
n = p o r +:
The Committee Of Ways and Means 10 whom ra'
referred By the House the annual report of tn.
Secretary Of the Treasury on The state OF tht
finances" report:
That the document referred presents condition
| OF the revenues and expenditures 4, the Govern
ment, and state OF the public treasury and the dc
mands which must be made upon it during the
present and the next fiscal years-a period ending
on the 3Oth June lS45-necessary calling the anx.
lous attention of the commltte to the state of the
finances In every aspect, and especially TO the
appropriations which are to measure expenditures
tor the future, and to the laws which do measure
, the accruing revenue. In time ofprofound peace
and with no peculiar causes for unusual expendi-
ture to find our revenues falling, annually, short OF
our expenditures, by millions of dollars; and per
manent national debt rapidly growing up, and al
ready adding more than million of dollars to oul
| ordinary annual expenses, to meet It's accTuins
interest alone, are facts which should not escape
the earnest and active attention OF the Legislature,
and cannot fail TO impose pressing responsibilities
upon the responsible duties of this committee
The Secretary of the Treasury, in the report under
consideration estimates the deficiency of means
IN the treasury, to meet the already authorized ex-
penditures OF the present fiscal year. at than
two and half millions of dollars; and, in arriving
at this deficiency; he lays aside more than two and
a han millions OF the appropriations made 10 re-
main as une xpended appropriations at the close of
the year, does not include anything, IN his est-
mate OF expenditures, to meet the msce laneous
appropriations which the present Congress may
make during Its present session, and which may be
payable and paid before the first day of July next
and does not include the treasury balance of one
million and half, which he thinks ought TO be
permanently provided to meet fluctuations in the
receipts and unexpected calls upon the treasury
II the Secretary be correct, therefore, increased
means must be furnished to the treasury, TO this
extent, beyond the current revenues, to meet the
expenditures of the present year, authorized by the
I.n,, l.t,., e ~
further increased means must be provided, as the
present Congress by Its legislation shall render
necessary. These means can only be furnished by
increased revenues, OF further loans; and II may
time it must be met, by any practicable change of
the revenue laws calculated eventually to bring the
permanent revenues up to the wants OF the treasury
II this be so, then, spite of any efforts which this
Congress can make, two and halt, and more
likely three millions, must be added TO our present
public debt at the close of the fiscal year. The
Secretary proceeds, Gas by law 1t Is his duty to do,)
and makes his estimates for the next fiscal we ar
commence on the LIST day of July next, and termin-
ate on the Goth day of June, 1915; and at the close
of that fiscal year, also, he anticipates Just about
the same deficiency IN the current revenues, to
meet the current expenses OF the Government. He
states the probable deficiency at 1857 09 10, but,
upon examining his estimates, it will be seen that
he brings in, as an item OF the expenditures, the
whole outstanding appropriations of the previous
year, and makes no deduction for outstanding
appropriations of the current year This antlcipa-
ton, as,expressed, the committee believe cannot be
realized, the whole of the appropriations for any
year can never be expended and paid out of the
treasury within that year. There always are as
there always must be, balances OF appropriations
remaining unexpended, or in the treasury, at the
termination OF the year for which they are made
but, in an ordinary period, and when the appropria-
lions have not been excessive or very different in
amount from year to year, these balances of unex-
| pended appropriations will not probably vary very
| materially from one year TO another. The COM
mil tee at tn -pt he
| appropriations for the fiscal year lSf4-,45 two
millions and half (the same amount which the
Secretary set aside from the appropriations for the
fiscal year 1S43-4D for these unexpended bal
| ances, will bring the calculation sufficiently near
the truth for all practical purposes of this report.
This will show the actual deficiency in the curren,
revenues to meet the current expenses OF the next
| fscal year, (accOrdlng to the anclpations o the
Secretary thus qualiied,) to be, in round numbers
two millions of dollars without any allowance fol
| means to meet any special and miscellaneous
| appropriations which the present Congress may
make during It's present or It's second session, to be
paid after the 1st day of July next, and before thu
| LIST day OF July, 1915 1t is seen, therefore, thai
| the lnsuhciency OF the current revenues 10 NEE
the current expenditures, far as the anticipatons
of the fiscal officers of the Government safe
| guide is not merely present, but future also and
when II is how nearly parallel that officer runs
| the two lines OF expenditure and revenue, through
| the two fiscal years named the inference would
seem to be fully authorized, that he considers the
| lnsuiclency not temporary, but permanent. The
committee are not possessed OF information which
enables them to crticse the antlcipatlons OF the
Secretary in relation to the receipts OF revenue III
to the treasury or to make estimates OF their own
upon which they could place confidence, much
less upon which they could ask Congress TO rest IT:
action. They prefer, therefore, to make the
estimates of the Secretary the general basis of th'
proceedings, pointing out such variations from hi;
conclusions they find themselves forced to adopt
they have done IN reference 10 the actual dehcien
| cy for the next fiscal year. In reference 10 the
| .rIf no pp oh he
| TO form more confident opinions IN relation to the
accuracy OF the Secretary5 antlclpations, and they
| hope 1t may be found that very considerable,
reductions can be made from his estimates upor
| this side of the account What they propose, Sc
| Tar as the measure OF expenditure Ton
| the next fiscal ycar - submitted 10 them. Is
already before the House, and IN lis possession, y
! the series Oi ordinary annual Appropriation blls
which the committee have reported. These bills
! AZ drawn and reported by them, secure reductions
| from the expenditures estimated by the Secretary
FULLY equal to his anticipated deficiency ofrcvenue
| But 1t must be remembered that the expenditure
| for the present fiscal year were appropriated by tn
last Congress, and are beyond the reach OF thu
! committee; and that II depends upon the TIVE
Houses at Congress, and the Executive, to deter
NINE whether, or TO what extent, the reductions II
the expenditures of the next fiscal year. proposed by
the committee, shall be made in the qwsproudini
| for these expenditures. The committee will no
voluntarily anticipate a rejection Of what they be
lieve to be the wise and sound recommendations II
that directions; but the history which the Secretary
of the Treasury, IN the report they considering
lays before them, adnonshcs them not 10 conld,
too strongly IN the reduction of the appropriations
to the standard of the accrulng revenue. Ia speak
ing Of the deficiencies IN The revenues, the Secre
tary saysi-"They are but continuances OF smaI
Deficiencies which commenced immediately alter
the depostes were made with the states, ana nave
continued tor the last seven years. And he pre-
pares and appends to his report his table {, to sus
tain his assertion, and exhibit the dehcencles oil the
respective years in the current accrulng revenues
Hence, if the Secretary be correct, each succeed
ing Congress- at each succeeding session, tor the
last seven years, has continued TO make appropria
| tons largely exceeding the current revenues
During the early part of this period, there wer,
means in the Treasury, independent OF the curren
| revenue (beng a surplus OF the revenue OF former
years. to meet these excuses OF appropriations
and when those means were exhausted, temporar,
loans 10 the form OF Treasury notes, were resortet
to, to supply the Deficiencies. In this way. debt
in the shape of Treasury notes, outstanding to al
amount not probably varying very materially from
adj bppu contracted AT he mn