Meigs County telegraph. [volume] (Pomeroy [Ohio]) 1848-1859, 1853-12-13

from the nature of the federal government,
the primary one is The duty of administer
ing with integrity and fidelity the high trust
reposed in it by the constitution, especially
in the application of the public funds, as
drawn by taxation from the people, and ap-
propriated to specific objects by Congress.
Happily / have no occasion to suggest any
radical changes in the financial policy of
the government. Ours is almost, if not alb
soluteiy, the solitary power of ChristendOm
having surplus revenue, drawn immedi
ately from impoSts on commerce, and there
fore measured by the spontaneous enter
prise and national prosperity of the country,
with such indirect relation to agriculture,
manufactures, and the product of the earth
and sea, as to violate no constitutional doc
trine, and yet vigorously promote the gen
eral welfare. Neither as to the sources of
the public treasure, nor as to the manner Of
keeping and managing it, does any grave
controversy now prevail, there being gen
eral acquiescence in the wisdom of the pres
ent system.
The report of the Secretary of the Treas
ury will exhibit, in detail, the state of the
public finances, and the condition of the va
rious branches ofthe public service admin
istered by that department of the govern
ment.
The revenue of the country, levied almost
nsensibly to the taxpayer, 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, 1852, there remained in the treas
ury balance of fourteen millions six hun
dred and thirty-two thousand one hundred
and thirty-six dollars. The public revenue
for the fiscal year ending June 80, 1858,
amounted to tfty-eight millions nine hun
dred and thirty-one thousand eight hundred
and sixty-fve dollars from customs, and to
two millions four hundred and five thousand
seven hundred and eight dollars from pub,
lie lands and other miscellaneous sources
amounting together to sixty-one millions
| three hundred and thirty seven Thousand
five hundred and seventy four dollars; while
f the public expenditures for the same period
| exclusive Of payments on account of public
: debt, amounted to forty-three millions five
: hundred and fifty-four thousand two hun
dred and slx,y-two dollars; leaving a bal
' ance Of uhirty-two millions four hundred ant
! twenty y-fve thousand four hundred and for
5 ty-seven dollars of receipts above expendt
p ures.
This fact, of increasing the surplus in th
t treasury, became the subject of anxious con
sideration at very early period of my ad
t ministration, and the path of my duty il
d regard to it seemed to me obvious and clear
n namely: first, to apply the surplus reyenu
c to the discharge OF the public debt, so ia
e as it could judicously be done; and, second
i ly, to devise means for the gradual reduc
= ton of the revenue to the standard of tn
n public cxigences.
a Of these objects, the first has been in tn
=. course of accomplishment, in manner an
l. to degree highly satisfactory. I he amour
= of the public debt, of all classes, was, on tn
e fourth of March, 1853, sixty million
= one hundred and ninety thousand and thirt
T. seven dollars; payments on account of whic
:. have been made, since that period, to tn
.r amount of twelve millions seven hundre
% and three thousand three hundred an
l. twenty nine dollars, leaving unpaid, and
the continuous course of liquidation, til
Il sum of fifty-six millions four hundred an
al eighty-six thousand seven hundred an
IS eight dollars. These payments, althoug
made at the market price of the respect,
ID classes of stocks, have been effected readil,
" and to the general advantage of the Trea
n ury, and have, at the same time, proved
". signal utility in the relief they have inc
(. dentally afforded to the money market ar
r. to the industrial and commercial pursuits
it. the country. ..... .s'.
rs t The second of the aforementioned O
n iects, that of the reduction of the tariff, is
,h great importance, and the plan suggest,
a. by the Secretary of the Treasury, which
Id to reduce the duties on certain articles, al
he to add to the free list many articles nc
III taxed and especially such as enter in
Lal manufactures, and are not largely, or at
o- produced in the country, is commended
lv your candid and careful consideration.
he You will find in the report of the Seer
n tary of the Treasury, also, abundant pre-
to of the entire adequacy of the present fsc
". system to meet all the requirements of
N. public service, and that, while properly a
ed minis.ered it operates to the advantage
the community in ordinary business re-
ID tons. '...
,c- l respectfully ask your attention to su
cb dry suggestions of Improvements in the s
es- tlement of accounts, especially as regal
lit the large sums of outstanding arrears d
ar to the government, and of other reforms
ce- the administrative action of his departme
the which are indicated by the Secretary;
md also to the progress made in the constr,
I'VE ton of marine hospitals, custom-houses, a
CHI of new mint in California and assay of
the in the city of New York, heretofore prov
ed for by Congress; and also to the el
re- nently successful progress of the Coast 5
of vey, and of the Lighthouse Board.
Iti- Among the objects merihng your att
! e; ton will be important recommended
to from the Secretaries of War and Navy.
ISL am fully satisfied that the Navy of the U
ON ted States is not in condition of siren
on and efficiency commensurate with the m
af- nitudo of our commercial and other ini
lity ests; and commend to your especial att
Of ton the suggestions on this subject, nj
and by the Secretary of the Navy, | resp