Grant County herald. [volume] (Lancaster, Wis.) 1850-1968, 1853-12-19

II, themselves or In common with the
powers Of the civilized world,
The United States have gradually con-
tinued to expand, by acquisitions Of ter
ritory, which how much soever some of
them may be questioned, are now uni
versally seen ana admitted TO have been
wise in policy, just in character and
great advancement of our country and
with it, of the human race, in freedom,
in prosperity and in happiness. The
thirteen States have grown to be thirty
ane, with relations reaching to Europe
on the one side and on the other to the
distant regions of Asia. I am deeply
sensible of the immense responsibility
which the present magnitude of the re-
public, the diversity and multiplicity of
its interests deyalves upon me, and the
alienation of which, SO far as relates to
the immediate conduct of the public bu-
siness is first in my reliance on the wis
dom and the patriotism of the tive Hou-
ses of Congress, and secondly in the d.
rections afforded me by the principles of
public policy affirmed by our fathers of
the epoch of 1897, sanctioned by long
experience, and consecrsted anew by the
overwhelming voice of the people of the
United States. Recurring to these
principles, which constitute the organi-
zed basis Of unien, we perceive that was,
las are the functions and duties of the
Federal Government, vested or ifltrust-
ed to its three great departments, Legis-
lative, Executive and judicial, yet the
substantial power, the popular source of
the large capacities for social and mate
rial development, exists in the respect
i've States withal. Being in themselves
well constituted republics, as they pre-
ceded, SO they alone are capable of main
tanning and perpetuating the Union
| The Federal Government has its appro-
! pirate line of action in the specific and
Limited powers conferred upon it by the
Constitution, chiefly as to those things
in which the States have common in
terest, in their relations to one another
and to foreign governments, while the
great mass of interests which it behoo, es
us to cultivate in the ordinary business
of life, the springs of industry and all
the diversified personal and domestic af-
fairs Of society, rest upon the general
reserved powers of the people of the
several States, This is the effective de-
mocracy of the nation, asd this the vital
essence Of its being and lis greatness
Of the practical consequences which lcc~
from the nature of the federal govern
ment, the primary fact is the duty Of adj
ministering it with integrity, and fulfil
ling the high trust reposed in US by the
Constitution, especially in the appropri-
alton of the public funds, as drawn BY
taxation from the people and devoted to
specific objects by Congress. Happily,
[ have no occasion to suggest any radi-
cal change in the financial policy Of the
government. Ours is almost, if not alb.
solutely, the solitary power of Christen-
dom, having the surplus revenue draw
ing imports and commercs therefore
measured by the spontaneous enterprise
and natural prosperity of the country
with such indirect relation to the agri :
culture, manufacture; and produce of the
earth and seas, as to violate no ccnstitu-
tional doctrine and yet vigor ously pro-
mote the general welfare. Neither as
to the sources of the public treasury Nor
as to the manner Of keeping or mana
Iging it, does any grave controversy now
prevail, there being a general acquies-
cence in the wisdom of the present sys-
tenn.
The Report Of the Secretary Of the
Treasury will exhibit In detail the state
Of the public finances, and the condition
of the various branches of the public
service, administered by that department
of the Government. The revenue of
the country, levied almost insensibly to
the taxpayers, goes on frem year to year
increasing beyond either the present, or
the prospective wants Of the government.
At the close Of the fiscal year ending
June 80, 1852, there remained in the
Treasury balance of SD, 632, $780,
The public revenue for the fiscal year
ending June 80, 1853, amounted to 800,
| 93l 1865 for Customs, and $2,405, 708
from Public Lands and other miscelia-
neeus sources, amounting together to
| 1861 1897 ,574 while the public expendi-
ture for the same period, exclusive of
payments on account of the public debt,
amounted to $40, 554 1852, leaving bal
ance of $50, 425,447,. of receipts above
expenditures. This fact of increasing
surplus in the treasury became the Sub
ject Of anxious. consideration at very
early period Of my administration, and
the path of duty in regard to it seems to
me obvious and clear; namely, first, to
apply the surplus revenue to the dis
charge of the public debt, SO far as it
could judiciously be done; and secondly,
to devise measures for the general re-
dsction of the revenue to the standard
of the public exigencies. OF these OBJ
iects, the FIRST has been in the course Of
accomplishment, in > manner and to
degree highly satisfactory. The amount
of public debt, of all classes, was, on the
18th of March, 1853, 500, l90,o37, pay
ments on account Of which have been
made, since that period, to the amount
Of $12, 7O3, 329, leaving unpaid, and in
the continuous course Of legislation, the
sum Of $50 1876. 70S. These payments,
although made at the market price of the
res pective classes of stocks, have been
fr.a4.d readily and to the general ad-