Fayetteville observer. [volume] (Fayetteville, Tenn.) 1850-1966, 1852-02-12

IepOIt DIT lilC COMMENCEMENT VI cay
session. And this has been the pra,
! tice from the commencement of tn
G Government to 1912, ] believe Th
S fiscal year commenced upon the frs
of January, and ended upon the 3ls
n of December of each year. IfiI mis-
0 take not, it was in 1912 that an ac
: was passed altering the commence
/ ment and termination Of the fsca
year, declaring that it should com
E mence upon the first of July of eacI
= year, and end upon the 30th of Jun
thereafter. The act approved Aug
, 26, 1912, provides ''that on and al
ter the first day of July in the yea
of our Lord l843, the fiscal year o
J the Treasury of the United States, il
! all matters of accounts, receipts, an(
expenditures, ,andappropriations, shal
commence on the first day of July il
each year; and the report of esti
mates required to be prepared anG
laid before Congress at the com,
mencement Of each session by the
Secretary Of the Treasury, in obe-
dience to'the acts of Congress of the
I'D of September, 1889, and of May
10Th, 1900, shall be a report of esti-
mates for ca ch fiscal year commencing
as aforesaid and terminating on the
Both day of June in the succe eding
calendar year, 1t is also made the
duty of the Secretary Of the Treasury,
| by the second section of this act, "to
submit to Congress, at the COM
mencement of the session, his annual
report upon the state Of the finances
and estimates Of appropriations re-
quired for the support of the Govern
ment for the half calendar year end
ing on the Both day of June next,
and particular and distinct estimates
for the fiscal year ending on the 30th
day of June, 1874"
It is again made the duty of the
Secretary of the Treas snry here in
this act altering and fixing the com
mencement and termination Of the
fiscal year, to prepare his estimates of
the revenue to be received and the
expenditures to be made. In obe-
dience to that act, they have contin-
ued to make these estimates and SUBJ
NIT their d annual report to the head
of that Department up to the year
1876. I'll am not mistaken, it was
under this change of the fiscal yea
that these large. and uniform es ii
mates for deficiencies commenced;
and here it may be said that these
laws requiring the Secretary of the
Treasury to submit his estimates,
apply to annual estimates and not to
deficiencies. If that distinction be
made, it will be found that the law !
cohtemplates no deficiency. 1t con
templates, that the Secretary of the |
Tre easury would have sufficient knd W. |
ledge to make his estimates Ian &c |
nbuE-L to meet the expenditures Of
Cove dssment, and that they would be |
madd accordingly. But We see he re,
wb En- this fiscal year was changed,
that there were at every session re- I
ported with the annual estimate tes,
lar ge estimates for deficiencies: Ind
accordingly, in the annual report on
the 4th of December, 1S45, there
we're deficiency estimates submitted
ofSl,290,526 25. In the next e{ti-
mate onthe 18th of November, 1916,
being the first year Of the war with
Mexico, there were deficiencies of
e5D D459,700 72. In November "A,
1847, the deficiency estimates were
s10,0G1, ,S44 81. In November 16,
lS49, the deficiency estimates were
sl,696,85I AZ. In November 43,
1850, the deficiency estimates we're
s2,575,305 64. Il
In each of these years the def
,iency estimates were submitted at
he same time tina. the annual esti-
mates were for the then next fs cal
Tear, and it was BY the resolution of !
he 7th of January, 1916, that the
secretary of the Treasury was direc |
d and required to make his eati- H
mates, have them prepared and print !
d, ready for delivery to members Of |
congress at the assembling Of the !
ody. The resolution reads: IA
''That it shall be the duty of the X
secretary of the Treasury to cause s
is estimates ofappropriations, which 1t
e is by law required to prepare and IL
ubmit to Congress, to be printed, III
nd copies Of the same to be delivered Vt
} the Clerk of the House Of Repre- If
entatiyes in time CoI distribution at It