Daily Richmond times. [volume] (Richmond, Va.) 1849-1850, 1849-12-27
6,28l,750 90

lands during the last fiscal year were ST. 688 1859 S.
1t is probable that additional sales would hay,
been made to the full extent OF the number OF acres 10
Gated under the military bounty land warrants, but
think may be safely considered that this OF
may be taken at nearly 100000, of whcha par
is absorbed by the land warrants part say 81 657 $50
Chat being the amount paid and payable during tht
present fiscal year, is applied to the payment OF nteres
the loan and Treasury notes. under the of anu
airy %, lS47 and the remainder is pledged to the ex
tinguishment OF the debt created under that act est
mate 50 100000 per OF the from lands a.
diverted by the land warrants and the extnguishment
debt.
During the last fiscal year there were paid, under st
all to 81 ,l08.
Public debt to the amount of $780, e6 80 Gncudins
Treasury notes received for customs and landsl was
the Treasury and exngushed besides $3S2 500 of the
stock and Treasury notes issued under the act OF lS47
purchased out Of the land fund and cancelled. (See
statement marked K,) OF these sums, $S90l75 was
new debt contracted since the commencement of the
war;
The balance in the Treasury the ls July ls49 was
$2,ls4964 %.
The aggregate of these sums viz
Balance in the Treasury LIST July lS49 So 1874 1854 26
Payments under the treaty.. 1923, l0S 90
Payments out OF general fund on account
OF aeol. ~ 566 81
Amounting to NEUTRALITY-SUSPICIOUS.. 10 6O4 63s e.
and would have made balance the Treasury to that
amount on te ISL july 1919 az none OF them been
Piled to the extraordinary purposes above designated
During the current fiscal year there will be required
in May next for TIE payment OF instalment to Mex-
co, So $40 100, and the land revenue, estimated d
verted, will be $4,000 O00making together s. $4,000
which, added to the aforesaid of $l2 GOA 639 g.
would make $ls IA 638 e. from which deductng the
estimated deficit the LIST July 1885, of So 1928 2l &C.
would have left an estimated balance in the Treasury
that day. OF $l23l6,5l7 OF. Adding TO that balance
the instamen to due in 1851 800 000 and the
revenue flom lands diverted, $2,000 ,000 would make
aggregate OF $l7676,5l7 OIL from which deducting
the estimated deficit the list OF July, 1851 $40 547
O92 49, would have made an estimated balance in the
Treasury, on that day, OF 81 ,l29, 42f %.
have gone into this detail Tor the purpose OF showing
that the resources OF the country ample, that the
tmated deficit will have arisen from the extraordinary
expenses of the and treaty with Mexico and that the
Justly high public credit Of the United States is not en-
dangered by the fact that in this position of affairs
new loan will be required.
Under these circumstances propose that authority be
given to raise such sum- not exceeding SIG 500 000 as
may be found necessary from time to me by the issue
OF stock or Treasury notes. on such terms OF interest mot
exceeding six per cent? and repayment the President
in his discretion SHALL prevoust to their being issued think
tit 10 order
Authority has already been given by the act OF March
g. l849 to issue stock for the $32500O0, appropriated
to carry into effect the 18th article of the treaty with
Mexico.
10 provide for the payment out OF the revenue OF the
instruments which will BIT due TO Mexico in the fiscal
year ending Both June, 1852, to secure the raising Of
fund for the gradual extinguishment OF our heavy pub
lie debt and 10 place the sure basis OF sutf
cheney Tor all the expenditures of the government, it
will be necessary to adopt measures tor increasing the
revenue and the most available means to that end
to be found in raising the duties on imports. That
economy as rigid as may be found compatible with the
necessities Of the country will regulate the appropriations
under existing circumstances cannot be doubted,
[To BE CONTINUED