Weekly national intelligencer. [volume] (Washington [D.C.]) 1841-1869, 1852-10-16
FUNDS IN THE NATIONAL TREASURY.

We believe that the financial management of our
Government has afforded nearly the only examples
of the embarrassment of commercial operations by
excessive and useless accumulations of the public
revenue in the National Treasury, for want Of e-
climate mode of dsposing of the surplus. 1t seems
to be admitted that material change is produced
in the present state of the money market at New
York. by the large accumulation of the public funds
in the vaults Of the Assistant Treasurer We are
not that this result at the present time is likely
to be productive of any public injury, or that it may
not in this instance be attended with salutary
effect, by presenting an earlier check to excessive
Importation than under the present code of laws
would otherwise have occurred But it is costly and
wasteful mode of producing remedy, which under diff
sysssn laeislAtian a~ll checked
the excess Of the evil
Awashington correspondent Of the New York Courier
says:
There will be- in the course Of few weeks, about
SEQ 600 900 in specie imprisoned in the Treasury
The Government is paying from four to six per cent
treble this amount Could this surplus therefore be ap
piled to the extnguishment Of debt to corresponding
amount the Government would at least million
Of dollars per Secretary Corwin has repeatedly
solicited Congress to authorize the purchase of United
States Stocks the the extent OF the
surplus means the disposal Of the Department. lie
has been successful however and the only authority
for purchasing up Government stock before maturity is
found in the act Of 1884, for the issue of the twenty mil
lion loan Of that year. by that law the from
public lands is pledged the payment of the interest
the loan, but may also be appedto the redemption of the
principal at the current rate Of premium discount.
BY forced construction, perhaps the whole income
from lands about 50 100000 per annum, might be so
applied"
IA. -
ton in the conduct OF national legislation want
Of confidence in the Executive department Of the Govern
ment to neglect provision for the contingency Of
less and embarrassing accumulation Of funds in the
public treasury which has than arisen under
system Of revenue beyond what is necessary to meet
all current expenditures and extraordinary appropra-
TONS The neglect Of such provision is the strk
ing when there public debt which might be advan-
tageOusly eInguished by purchasing the stock at its
market value
In the absence Of any provision Of this nature there is
the greater regret that Congress the last
sion did not find leisure to consider and decide
Of those propositions, which If carried through
the interests and the honor Of the country require would
have led to considerable appropriations Of the public
money
The fact that there is lying in the public golfers
to the embarrassment Of the currency Of the country
large amount Of public funds properly applicable to the
meeting Of any just claims upon the National Govern
mcnt founded either in justice expediency affords
additional reason, to the sufficiently cogent Ones why
Of the above referred should have been
brought to final settlement at the last session Of Con-
gress 1t is not to be expected that the period will ever
arrive when claims Of this nature be more conve
nenty met by the National Treasury than at the
time.
The letter above quoted audes also TO another mea-
sure which was urgently recommended by Mr. Corwin,
viz law to authorize the issue Of certificates for the
amount Of bullion deposited at the mint as soon as the
same should be assayed which certificates should be
ceivabe in the payment Of duties Such measure. al
though It might be liable to objections in different state
Of the public treasury, would, under circumstances like
the present have removed the embarrassment now
planned Of The writer Of the letter remarks that the
Committees Of Finance in both branches were not unf-
vorabe to the project but neither Of them reporcd IT,
for the that threefourhs Of the session having
been trifed away no time remained for businass not
strictly necessary for carrying on the Government,
As VIC minated above, however there reason 70 be-
leve that the present check to spirit Of speculation A.
10 excessive importation win not be productive Of min
rious results but that the contrary Its effects NAV be
salutary Boston Daily Advertiser
NAvAL.-The following Assistant Engineers voro f.upd
qualified for promotion by the Board OF Naval Epg;,.sr.
re Gently convened at the Gosport Navy Yard Second