The Hillsborough recorder. [volume] (Hillsborough, N.C.) 1820-1879, 1848-03-01

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de SecrFi.rg. uhFa lhHss n0lss NeIs =.
susd. tisaf = SO = kpecir bsetRe sesrer
shey moult 81 y bagk EFs0R ~ lnndS i
pag rnsns III .raslosss. lasads. And olA.rr psb-
/ IL dness thus lof lhe time heing h1ggaf-
inx Ne Trsasurs rznd ErndrFing ne 50.
nal msriiinery Il lie subire.saFy noaglg
hes Depository of tsavernnenl promssso-
~ nosrs isslead q specie. far which il
Hss provided gilh rlah0rale care.
hot. passing byTihis. i0pie. he Noeld
prarerd 20 assign hrs reasons more il de-
tail 81 saying lhai he income &C he Cox
eminent had been over estimsird and iss
expt ndilUres UNDERESTIMATE. The isneF
greaily exceedeil m amonni The fornpr. For
the oseT-sslimales. he Secretary of he
Treasury Is responsible. and Coz The sui
more scrinus nnaer.estimai the Secretary NJ
War j. serounlahle. lie would nor charge
either u f.l0Se officers win having pnr-
pOsely PREPARED and presented " Iongness
erroneous estimates; hnt be must say that
The NsT esiimsles sae 81 wide az The tEsIk
- 10 raise suspicious 81 iheir good failh.
In view of The magnitude ~ ile war e1-
pendimIas. he cauld readily imsgine thai
both Of these officers would feel a slinng
drsire 10 pat as good fare - possible On
the stale of their siFairs. What men desire
they esn easily persuade themselves 10
hs,ieye. The Secretary al the I'nsasu-
~. therefore. might, in his desire 10
provide means 10 inert the public eN-
penses, oser-esiimaie his receipts BY
pretty large per ccniage. without heing
aware Of a. and might ~ the same time
firmly hrlieve in realizing the full amount.
The same remark is applicable 10 the Sc.
creiary of War in the desire he must feel
10 cLriail the war expenses As muth rs
possible. Eur this furnishes good reason
why their estimates should he severely
and douhiingly scrnlinized in Ibis House.
Gresi allowances ought also tn be made
for the uncertainty that must always. from,
mrny causes. hang over future receipts
and future war expenditures; but with all
this uncertainty The heads Of the Depart
meEi.oughi IN be able 10 make,,a reasnaa.
bic approach To The inth. IL they would
keep themselves free from difficulty. il
wonld be wise always 10 make large de-
ducIions from their calculations. In Iri,
Ea,e life. If on individual in carrying on his
business hahilually over-eslimales his
means and undertakes lis expenses, il re-
quires no prophetic ioIeiei that he is doom
ed %. be'hankrup,, and that tho before he
is aware Of il.
This is equally true Of ,heigreai under
iakings of Governments. When gIeal
work is undertaken the execution Of which
requires multiplied and complicated opera
tons 10 be conducted on large scale, Of
ten times under pressing emergencies, thai
ovenule all calculations Of economy, where
losses are met with from all the clements
aud from the hand of violence, and all is
to be done by a thousand agents, who are
making. contracts and disbursing money,
scattered oSer large space AT great
distance from their principal; aud most
ssI,ettaffs " tfIcs1 tttss. Ohc hnu aIts tfsS
depressed with The idea that their priprl.
pal is rich and very able 10 pay, and not a
few OF them are of failh'ess morality. and
believe tina, he is great goose, whose
feathers rightfully belong to him who can
pluck them; and il, TO cap the climax. he
himself puts the highest possible estimates
on lis means and undertakes The cost, we
may he sure he will have sad time in foot
ing the bills. Last year the annual report
Of the Secretary Of the Treasury nn the
state Of the finances. which is always PFC
seated TO Congress when the year is ncaly
half expired, over.estimaied The. reyenue
Of the tien current year near five millions,
and underestimate The expenditures of
the wear more Than for millions; making
together, at the end Of the year, a balance
against the Treasury greater than his es-
timate BY more than nine millions; which
Of course occasions, in part. the necessity
for the loan now. asked. The Secretary
now tells us that loan u sixteen millions
viii cary him through the year. If The
Secre,ary's over-eslimates and under csti-
mates Of the receipts and expenditures Of
. tiiS NtdI dtt dS Alslf w tilC ttihiN de- nav
showg those Of the last 10 have been at
the corresponding period Of that ysar--say
dine millions-ihal sum, added 10 the six
teen, will make twenty five millions as The
amount Of loan that he ought 10 haveask-
ed for. But gentlemen will perhaps say
that this has put him no his guard; that
he has profi,ed by experience. so far
from il, he regretted TO say that the Se-
cretary has estimated The revenues Of this
year al more than eight and i hall millions
above the receipts Of the last. he estimates
Of the receipts for this year being $4,000,
900, while the sum total Of all the revenue
of lasi year was s26,3i6,790 81. There
! is every reason 10 believe he is again five
millions above the mark. For example,
he estimates the customs f,,r HE thee lasl
quarters Of this year AZ . FRACTION under
], twenty millions. tsl9,593,7 42 3d. The
!, returns for the first Of those three quarters
are now received. showing the duties for