Staunton spectator, and general advertiser. [volume] (Staunton, Va.) 183?-1849, 1848-02-09
GOVERNMENT FINANCES

Inc following letter, from the acting Secretary
oil the Treasury, was laid before the House Of re-
representatives. on Saturday the 29th inst:
TREASURY DEPARTMENT, Jan. %. 1913.
Sir: Since the date of my last communication
hNng the amount of the loan mt twelve millions
oil dollars, letter Ga copy Of which is hereto annex
ed, dated the 2ist instant has been received from
the Secretary of War, giving the information Thai
nc had submitted to the Committee of WAYS and
Means estimates to the amount ofS3 sos 900 since
the commencement of session, i'm addition tn
those heretofore submitted | have therefore the
hohor 10 request that the loan should be granted for
the sum OF Sl6,0O0,000, which, it is believed ,rJI
DC al That tcW be accessory TO ass for d,,rino he
present session Of Congress
nave the honor 10 be. very respectfully. your
obedient servant, '
McCLINTOCK YOUNG.
Acting Secretary OF the Treasury.
Hon. IL. G. WINTHROP.
Speaker of the House of Representatives.
we place this letter upon record (says tho Allow
ahdria Uazettc) Tor future reference W. rou, ri
IL as IN character with the many decep,iye si,to-
nohts which have from time 10 time been mn, firth
by The departments, on the eve of the nero,io,ion
OF new loan but the trick has become so stale
'nat IL can no longer be successful This loan of
S!N'een millions, 1T is belicved,' says the actinr
Secretary oil Tie Treasury ''wl be ell tba, will
De necessary to ask for during the present session
oil congress" Believed by whom Z Cert,;rI,,
not by the Secretary of the Treasury TO, his own
annual report even after the correction of nil lie
plumbers, gives flat contradiction to such belief
Dc'ieved by the acting Secretary of the Treasury
we doubt 1t. Fir. Young has had too much oyno.
renee to believe any such thing and it will be oh
served that he does not distinctly give il rs his Lo
hct, IN writing the letter, which il may be presn,,,
ed was written under Instructions.
Now, according 10 the annual report of Tho Sccro
tary OF the Treasury corrected it appe,rs tbero
VIII DC deficiency in the means to NEE, the ex-
penditurcs of the government MP to the Isl JuIy
next, OF Gin round numbers) Sl3 ZOO. OOO-apJ ~
ne says, balance should be kept at all times TO NJ
iord supply for the operations of the mini. Sc q,
o,OcO-thus absorbing the rs 600 600 in five
months from this time. According TO the Sscrct,-
ry S estimates the expenditures for the ensuirr *;
Cal year will amount to Sj5.6i4,9dI 72-to which
should be added $25,0O0,000 Tor the additional RI
ouo troops called for by the Executive. MAKING ,
Total estimate OF expenditure Of $50. GA .0it 20
The receipts for the fiscal year are estimated
by the Secretary at $50 100 0OOO0-lear;yc. n ,ic
.fciency cfJortyfrc millions and q h,,cGor I'm,
gear 1t The additional troops be granted. and twenty
and half millions if they be not, Now. if abon,
sixteen millions be all that is granted during Tho
present session of Congress- achere arc The means n
supply The deficiency In dc Gis: haIf Of Bc ,,cr,
.jisc"t year to come from? That is Question WE
should like to see answered