Sunbury American and Shamokin journal. [volume] (Sunbury, Northumberland Co., Pa.) 1840-1848, 1846-12-19

bringing il 10 Q speedy end honseeb'e tNmina-
tlon, further lean will BE- nsoesssry. . meet
the expenditure for the prvggns end The next
6scai yesrs. n the wsr shoold be ccntinued m
I'll the sOsh u June, 161e-being the end Of the
neat 6scsl year--is 10 estimated that 90 eddi.
ton VI 323,OOO,OOO will b required. This
estimate 70 ,nsde upon tho assumption that Il
Will be necesssry to retain constantly in the
treasury os,O0O,OCO, to guard sea,nst contin.
esnchs. lf fsuch turplus were not required to-
BE re!ained, than q loan Of ol00O0O00 would
b sesiIciea1- W however. Conesess should, at
the pfesent sessisn impose . rcvenve duty On
the principal articles now embraced In the free
list, u b eetimsted that On sdditiunsl annual
revenue Of ab ,ut !OOO, COO spd . halt, smount.
ing. il h estimated, on the 3O,h Of Jvne. le4S.
to 81 QUO 00U, would be derived from that
source and tho loan required would be reduced
By thst amount, r,f say bne sgfaif ssaA
II 10 estina,ed. also that shoald Congress
graduate and reduce the price Of snch Of tho
public lands % have been hong In the market
the sdditioual revenue derived from that source
would Be- annually, ior fcveul yesrs 10 come
betwesn halfa millscn aud million Of dollars !;
and the kan required msy be reduced BY tia,
amount also. Should these measures BE- sdop
ted, the loan required would not probably ek.
eeed e15 or 10 Zoo. coo, leaving in the treasury
q constant eurplus Of o.. QO COO Tie loan
proposed, II 10 estimated, will te rufhcient IN
cover the necessary expenditures. 10th for the
war and TOT oil other purposes, up 10 the 3Oth oil
June, le46; d an amount Of this loan. moi
exceeding one.hslf. msy be required during the
present 6feal yesr, and the greater part Of the
remainder during the frxt half Of the fiscal year
succeeding.
In order that timely notice may 6e given, and
proper measures taken Ia ffat tthc lcat ~ r,,ch
portion Of il 40 msy be required. il 10 imports Mt
that the suthority Of Congress 10 make il BE-
given atsn esily period Of your present session
il 10 suggested ihst the loan should be contrnc.
ted for a period Of twenty years, with nuihori.
~ to purchase the stock and pay it off st an ear
ly period. at its market value. out o: ony sur.
plus which nay st any time be in the Treasury
spplics sle to that purnoee. Aher the establish.
fnent Of peace with Mexico. il iA supposed that
a considerable surp'us will exist, and that the
debt nsy be extinguished In . much ehortsr
pesiod than that for which it may be contracted.
The period Of 20 yrars, ss that for which the
proposed loan msy be contracted. in preference
10 shorter period. 10 sugppftrd, because oil cx.
perience, both si hrme and sbrosd ts. shown
I that losns are effected upon much better terms.
upon long time, than when they are reimburse
ble st short dates.
Necessary - ihis measure 10. 10 s,e,sin the
honor and the interests Of tho country, engaged
| in foreign wsr, il 10 not doubted but that Con.
grsss will promptly sutborise it, lt
The balance in the treasury On the first ol
July last exceeded nine million Of dollars. not
wi,hs,snding considerable expenditures had
been made for the war during the month Of May
and June preceding But for the wsr, the whole
| public eebs couid end would have been extin.
| guisied within short period and il was q
| part Of my settled policy TO do 20. snd thus re-
lese the people from its burden. and place the
| COVE eminent in position which would enable
tito reduce the public expenditures 10 that econ
omical standard which is most consistent with
the general welfare, and the pure and whole
come progress oi our institutions. ar ~
Among our just causes Of complaint sgsins
MEXICO, sri,inY out OF hrr rtfusal 10 treat toI
peace, - well before as since the war 90 nm
Justly commenced on her part, are the extra
! involved. Justice 10 cur own people will make
| it proper that Mexico should be held responsi
BILE Cor these expenditures.
Economy in the public expenditures is st III
times high fu'y which sll public functionsrir'
Of the government owe 10 The people. The dU
y becomes the moro imperative m . period q
wsf, when large and extraordinary rxpendi
lures become unavoidable. During the exis
| fence Of the war oil our resnurces shoult
he hnsbandcd. and no appropriations made ex
ccpt such % ere absnluteiy necessary !or ~
| vigorous prosecution snd The due sdminisirs
,ion nf The government Objec,s of sppropris
tion. which in peace may bc deemed uscful q
proper. bot which are not indispensable fnr ih
public sevice. may. when the rruniry IL enrsg
drd in for'ien war, be we'll postponed 10 fiI
t0re peviot. 20 I1'
By the Observance ofthis pnlicv st your pre-
M lar \ nj q b~ svCNe IN 4 N
treasury. sRd he applied n otj c,s of prsssin,
and urgent nscessi'y. and thus the creation q
corresponding smount Of publc debt be Z
void ed. a
II 10 not meant 70 recommend thst the ord
nary and nccessary appropriations Ter the sur
porl III government thuuld be withheld ; hut
10 well known that Al every s'ssion of Cer
gsees appropriations are proposed for nun.eWr
objects which rnsy or may not be- made. with
out snsterisiIy affecting the public interests
end these il IL recommended should not b
granted,
The set pasred at your last session "rrducin
the du,ies ON imports" not having gone int
} operstion until the LIST Of the presen, mon,l
there hiss mt been time for i,s practcsl efics
. upon the revenue and the business ofthe ccur
, try IN be developed. II 10 nat doubted. howevr
that the Just policy which il adopts will nd
} largely 10 chr foreign trade. and promote n
rrnersl prosperity. Although il esnn", b. cs'
> 'ainiy foreseen what amount of revenue il WI
; exceed tina, produd ed w the eel az 1892, vi ic
) il super seded. The leading pr,ncipl'a esii
|. blishsd by Il nre, 10 levy the ,sxes with vie'
!. to rsise revrnue. snc tn irrse them rpm III
sriicles impaired according tn their sctusl vslu
The act OF is47. BY the excessive rates Of d.
" ~ which " imposed on many articles, either &
Y tally excluded them from imrorisfion, or sresil