Glasgow weekly times. (Glasgow, Mo.) 1848-1861, 1853-12-15

anew by the overwhelming
voice Of the people Of the United States.
Recurring TO those principles which con-
stitute the organic basis of union, we per-
ceive that, vast as are the functions and the
duties of the Federal Government, vested
in or entrusted to its three great depart
ments-the legislative, executive and ju-
dicial--yet he substantive power. the pop
ular sorce, and the large capacities for So
cial and material development exist in the
respective States; which all being them
selves well constituted republics, as they
preceded, so they alone are capable Of main
tanning and perpetuating the American
Union. The Federal Government has its
appropriate line of action in the specific and
limited powers conferred on it by the Con-
stitution, chiefly as to those things in which
the States have common interest, in their
relations to one another and TO foreign gov
ernments; while the great mass Of interests
which belong to cultivated man, the ordina-
nv business of life, the springs Of industry,
all the diversified personal and domestic af-
fairs of society, rest securely upon the gen.
eral reserved powers of the people in the
several States. This is the effective de-
mocracy of the nation, and they are the
vital essence of its being and greatness.
OF the practical consequences which flow
from the nature of the Federal Government,
the primory one is the duty of administer
ing, with integrity and fidelity. the high
trust reposed in it by the Constitution, es-
pecially in the application of the public
funds as drawn by taxation from the peo-
pie, and devoted to specific objects by Con-
gress. Happily, have no occasion to sug-
gest any radical changes in the financial
policy of the government. Ours is almost,
if not absolutely,the solitary power of chris
tendon having surplus revenue drawn
Immediately from imposts on commerce, land
therefore measured by the spontaneous en-
terprise and national prosperity of the coun-
try, with such indirect relation TO agricul-
ture, manufactures, and the products of the
earth and sea, as to violate no constitutions
al doctrine, and yet vigorously promote the
general welfare. Neither as TO the resources
of the public treasure, nor as TO the manner
Of keeping and managing it, does any grave
controversy now prevail, there being gen.
eraT acquiescence in the wisdom of the pre-
sent system.
The report of the Secretary of the Trea-
sury will exhibit in detail the state Of the
public finances, and the condition of the va
rious branches of the public service admin
istered by that department of the Govern
ment.
The revenue of the country, levied al
most insensibly to the tax payers, goes on
from year to year increasing beyond either
the interests or the prospective wants Of the
Government.
At the close of the fiscal year, ending
June 80, 1853, there remained in the Trea-
sury balance of $l4,632, 636; the public
revenue for the fiscal year ending June 30,
1858, amounted to $5S, 1881 1865, from GUS
toms, and $2,404 ,70S from public lands and
other miscellaneous sources, amounting TO-
gether 10 $6l 1887 ,574, while the public ex-
penditures for the same period, exclusive Of
payments on account of public debt amount
ed to 1854 1862, leaving balance o.
$32,425,447 of receipts above expendi'
lures.
The fact of increasing surplus in the
treasury became the subject of anxious con.
sideration at very early period Of my ad.
ministration, and the path of duty in regart
TO it seemed TO me obvious and clear, viz
First, to apply the surplus revenue to th'
discharge of the public debt, so far as
could judiciously be done; and secondly t.
devise means for the gradual reduction 0
the revenue to the standard Of the publi
exigencies.
OF these objects, the first has been in III,
course of ,c,omp lishment, in manner, ant
to degree highly satisfactory. The amour
of the public debt of all classes on the 4tl
of March, 1858, was 500, l90,037; pay
ments on account of which have been mad
since that period to the amount of $l2, 7O3,
1926, leaving unpaid, and in the continuou
course of liquidation, the sum Of $3.50, 4S6,
708. These payments, although made q
the market price of the respective class c
!. stocks, have been effected readily, and t
the general advantage of the treasury, an
have at the same time. proved of signal util
ity in the relief they have incidentally al
, forded to the money market, and to the in
dustrial and commercial pursuits of the coun
| try.
The second of the above mentioned oh
iects, that of the reduction of the tariff, j
of great importance, and the plan suggeste
by the Secretary of the Treasury, which
to reduce the duties on certain articles, an
to add to the free list many articles no,
taxed, and especially such articles as ente
into manufactures, and are not largely or
all produced in this country, is commende
to your candid and careful consideration.
You will find in the report of the Secre
tary of the Treasury, also, abundant proc
of the entire adequacy of the present fsc'
system to meet all the requirements of tn
public service, and that, while properly ad
ministered, it operates TO the advantage
the community in ordinary business reli
tons.
= respectfully ask your attention to sur
dry suggestions of i'm rovement in the SCI
Element of accounts, especially as regard
the large sums of outstanding arrears du
to the government, and other reforms in III
administrative action of this department
; which are indicated by the Secretary; as a
al. l.. al -.