Weekly national intelligencer., 1848-02-12

propraons for next year, which begins the ls Of july
next must be made at this session. and when the appropra.
at the tme instead Of raising loans emergency,
now obgeA do, by Of the short estimate
Of the Secretary VI the Treasury, when the tenyhree mil
lion a Df passed at the last session He should have
ample time to negotiate his loan before the money wanted
it's therefore, the clear duty Of the Executive to ask that
provision may be made this session for all the of the
Government for the next year. and come present.
year behind the proper time
What he (Mr. w would ask, will be the receipts and
expenditures Of the next fiscal year And what will be the
deficiency that must be provided for by The Secretary
of the Treasury estimates at twenty millions five hundred
thousand He (M W afraid that in this the Secretary
again much below the mark now know he was
year ago. He estimates the receipts for year thirty
five milons-hirty-two from customs and three from the
public lands Now he had already shown that TO the extent
Of the interest the twenty million loan Of last year, and
further he the proceeds Of the public lands to pay
the expenses Of the year and there is great fear
that the soldiers bounty land warrants will dry up the sales
not to bring money enough from that pay
the interest that loan
Then there nothing left to fall back upon but the
toms. SO many causes-many Of them otentmes accden-
tai occuwhch brought suddenly into action great
ly influence the of the country that certain
Inmates be madehey must of necessity be approxima-
tions only the truth Judging, however from certoin great
and general work. the from the
toms for the year which begins the ls of July
be safely estimated at than wenysix wenyseven
mllions-say twenty sevenand put the land at million
and half making twenty yeght and half for the year.
therefore deducted six and half millions from the Sece-
tay's estimate What, the other hand will be the
penditures There much larger force in the public
service than employed at the beginning of the present
year and the fact that the Executive is pressing Congress
for large addition TO it shows that, if more
troops granted by Congress- all there will con-
tnue to be employed and that therefore there is not the
Temoest probability that the expenses of the year will
fall below those those of this assuming them to be
He had before shown that the estimates for this year al
ready sent in, amount to sxtywo millions seven hundred
and eighty thousand six hundred and sixty dollars
that probably two and half millions be added that
for underestimate in the Quaermasters Departontbrng
ing up to upwards of sixtyfve mious to which must be
added at least millions for additional interest next year
the loan proposed 10 be rasd and that which must be
raised the beginning Of the year the wants of the
yes-say sxtysevcn millions of dollars From this amount
take the next years revenue-weny eight and half mil
lonsand there will be deficiency of thirty eight and half
millions be provided for by loan instead Of twenty millions
and half estimated by the Secretary Of the Treasury
showing that the estimate for this year and next about
equally below the real wants Of the Government that for
next year. upon this calculation being seventeen millions less
than the of the Government while that for this year
admitted to have been sixteen millions too small, with
every probability he had before shown, that the deficit to
be supplied by loan will reach twenty three millions
1t must be borne mind that the Quartermaster Generals
innate alone for the next year down ve millions and
fortyone thousand in the before stated the original
estimate having been for that Department ZOO which
reduced to 600. The Quartermaster General
it will also be borne in mind says will require the most rigid
economy to make the reduced estimates do should there be no
heavy losses of property, extraordinary operations under
taken during the year. and the troops be not increased We
know that troops urgently demanded that losses Of
property that the Executive has changed his
policy, and resolved upon carrying the war to the vtaso
the enemy, which, in plain English, to overrun and
subdue the whole vast territory of Mexco and IN pursuance
of that policy already hear that great operations
ganizng for the reduction Of Potos and Queretao. What
Een will be the public debt the end of the fiscal
if the continue This has become solemn and alarm
ing inquiry He had already put down the probable debt at
the end of this year sevenythee millions eight hundred
thousand dollars. If to that be added hirtyeght and half
millions for the deficit of year. the amount at the close
OF that year, will be upwards OF hundred and twelve mil
lions of dollars.
IT. however the sixteen millions asked for will do for
this year. then the debt the end Of year. should there
be deficit OF than thirty eight and half millions in
that year, will be but hundred four aud half millions
According the estimates Of the Secretary of.he Treasury
the debt at the end OF the next year will be eghsx and
half millions. These estimates all predcaed upon the
supposon that the increased force asked for raised II
that is rased must largely increase the public expenditures
1t must be estimated for and appropriations made hereafter for
its support. Any of these estimates exhibits sad pros
pect for the country Looking at this bill mere money
transaction between the Government and the public CREDITOR
may be thought be honest than expedent to make
disclosure Of the present and prospective condition OF the nan
cial affairs Of the country but is not TO be forgotten that
there is another party whose agents the taxpaypg
people who foot the bills and who have right TO know
the truth and the whole truh-o know how, by whom, and
for what their money expended He felt bound that
from the and uncertainty Of the facts from which many
with entire confidence in the correctness Of all his conclusions
but they nevertheless conclusions he could not avoid
coming He sincerely hoped for the sake of the country
that his calculations much above the future wants Of
the Government the past estimates Of the Executive
known to have been below them
Mr.. LIG0N next obtained the floor and addressed the
committee length mainly the subject Of internal improve
ments by the General Government policy TO which he
pressed his decided opposition. When he concluded the COM
mittee rose and the House adjourned.
"WEDNESDAY, FEBRUARr o. lsis.
On motion Of Mr. COBB, of Georgia, the House resolved
itself into Committee of the Whole the state Of the Union
(Mr. Boris in the chair and proceeded the consdera
ton Of the bill to authorize loan not exceed the Of
Sis, SOC, ,00O
Mr. FISHER, who entitled to the floor from last
ing, addressed the committee. There bill before
the committee he sad authorizing the President Of the Uni
ted States to borrow eighteen millions five hundred thou
sand dollars became them oil TO inquire what is the
Of this difficulty, and Of the Government being involved to
the extent that renders necessary ak for loan Of that
amount II was necessary for the people TO know what in
duced this state Of thngs-wheher really just, and
whether have into present condition 10 hon.
orable and fair His colleague (Mr VSToS) the
other day had shown clearly that the object Of the Ad
minraton to conceal all the il contemplated from
the citizens OF the United Satesto conceal the real situation
and condition Of public affairs from the people, who have the
right to know. He (Mr " had shown clearly that the
Administration overestmated in the aud under es
mated in the other the income Of the Govern
ment and underestimate its expenditures; and by that
had fallen short by the asked TO deray the
expenditures of the present fiscal year. He say here in