The Evansville daily journal. [volume] (Evansville, Ia. [i.e. Ind.]) 1848-1862, 1850-01-08
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See statement marked (J.)
The receipts at the treasury from sale of
Public lands during the last fiscal year were
$16S9, $50 SIS.
1t is not probable that additional sales
would have been made 10 the full extent of
the number Of acres located under the mile
tary bounty land warrants; but / think it
may be safely considered that this source Of
revenue may be taken at nearly $400000
of which part is absorbed by the land war
rants; part say 81 557 $50, (that being the
amount paid and payable during the present
fiscal year, is applied to the payment of
interest on the Loan and Treasury Notes,
under the act OF January %, g1S47; and the
remainder ispledged to the extinguishment
of the debt created under that act / esti-
mate 81, 100000 per annum of the revenue
from lands as diverted by the land warrants
and the extinguishment of the debt
During the last fiscal year there were paid
snder stipuatons in the treaty with Mexico,
sums amounting in all to 81. 629, 108.
Public debt to the amount of $790,566 80
Gncluding Treasury notes received for Gus
toms and Iands) was also paid off or purchas-
ed out of the general funds of the Treasury
and extinguished, beside $382500 of the
stock and Treasury notes issued under the,
act Of 1847, purchased out of the land fund
and cancelled. See statement marked (K.l
Of these sums 1890, 175, was new debt con
tracted since the commencement of the war.
The balance in the Treasury onthe LIST Ju-
ly, 1849, was 81, 1874, 1854 %.
The aggregate of these sums, viz:
Balance in the Treasury on lst Ju-
Payments under the Treaty 1929, 10e 90
Payments OF the general fund
on account of debt 790,566 SO
Land fund diverted 100000 90
Amounts to 7a $3.50 s126o4,63s 81
and would have made a balance in the treas
ury to that amount on the 1st July 1S49, had
none of them been applied to the extraordina-
ry purposes above designated.
During the current fiscal year there will
be required, in May next for the payment of
an inslallment to Mexico, $3.50, 000 and the
land revenue, estimated as diverted, will be
81, 000, 000--naking together $3.50 900.
which, added to the aforesaid sum of SIP
6O4,639 81, would make SIS, IA, 538 81, from
which deducting the estimated deficit on the
1st July, 1850, of $5,S28, 121 &c, would have
left an estimated balance IN the treasury. on
that day, of $12,316, All Of. Adding to that
balance the instalment to Mexico, due in 1851,
So, 100000, and the revenue from lands d.
verted, $2,000,0 00, would make an aggre-
gate of $17,676,417 Oh. from which deduct.
ing the estimated deficit on the LIST of July
1851, $40, 547, 092 70, would have made an
estimated balance in the Treasury, on that
day, of 81. 129, 324 %.
l have gone into this detail for the purpose
of showing that the resources of the country
are ample, that the estimated deficit will have
arisen from the extraordinary expenses of the
war and treaty with Mexico, and that the just
Iy high public credit of the United States is
not endangered by the fact that, in this posi-
ton of affairs, new loan will be required.
Under these circumstances / propose that
be given to raise such sum, not