Wheeling daily intelligencer. [volume] (Wheeling, Va. [W. Va.]) 1852-1859, 1854-04-15
Federal Finances.

Federal Finances.
We are in receipt from our Representative OF
the Report on the Finances, by the Secretary OF
the Treasury, from W hich Gull the following
items:-Fhe actual receipts into The Treasury for
the fiscal year ending June 30th, 1885, were $751;
337.574 40, of which S5S, 931, 1865 SO were from
customs, s1.G67,0s4 SO from the public lands, and
S73s,623 SO from other sources. The expendi-
lures for the same period were s54, O26,sIs 81,
distributed rs follows, viz: Civil list "a 1874 1896
Foreign Intercourse 1899. 030 IA, Miscellaneous
S1l'I92,S69 70, 1--WE wonder what this isl Depart
ment of the Interior So, ,535 So Department Of
War S9.947290. Department of the Navy SlO,-
s9l,6S9 81, Public Debt SIC, 4s2, 535 81. This
last item is not of current expense so that it
should be deducted from the annual charge on the
Government from annual income Add to the rr-
ceipts above stated the surples in the Treasury
on July lst, 1852. of S14,632, 136 81 and the to.
tai receipts for the fiscal year ending June 3Oth,
1858, are S75, 1863, 7l0 10, from which subSract
the expenditures and public debt stated and there
will be balance in the Treasury en- 1stJuly,
1883, of S2l,9f2,S 92 IS, which has been dormant
now for nearly one year. What will be the bal
ance in the Treasury in July next cannot pre-
tend TO see; but it must be very much increased,
unless it be applied towards the redemption OF the
outstanding public debt, before maturity of tie
certificates in the hands of the creditors of the gov
ernment.
The estimated receipts for the Fiscal year end
ing June 37th, 1854 were, from all sources. $685.
572,079 81. and estimated expenses sac 2O3 753 co.
SO as to make surplus IF correcO in the Treas
uTy for the present fiscal year of Sl0s6s, 325 81.
For the first quarter the receipts have been $751;
S56,s7S 90, and expenses Sl5,osl 1893 20, while
the additional three-quorters of the same fiscal
year are n0w estimated to reach S57,25l,2 1888 Is,
making thus the entire expenses ofthe year about
ST2, 332,666 SC. OF this amount SIS, 900, 900, is
applied to the public debt leaving a charge for
current expenses for the fist fiscal year OF Gen.
Pierces Administration Of about S54, 600 900, and
the probability is that it will far exceed that a.
mount as the deficiency bill alone which has just
passed Congress, approprIates between three and
four millions, aud many new items will be found
for future dema nds.
Thus, while it is time that there is a large sur
plus IN the Treasury, caused by excessive and
reckless Importations which will ere long be felt
III every department OF the country, il is fact
obvious to be overlooked that this is the most ex-
Pensive peace administration which has yet blessed
tins country. Why our democratic friends, who
SO much favor ttthe economical administration of
the Federal Government" do not take a note Of
these things and request the President 10 uln his
attention 10 them rather than to New York politics.
we are at loss to understand. Certain it is tina,
nifty four millions is pretty large TO be thus
squandered in the "lullaby days OF peace" when
there is no extra demand fer the fpanc al means
OF the Federal Government. he Public Debt
on the Sd of December, 1853, amounted 10 $685.
336,157 SO, having been reduced TO that amount
from 0I,0S7 81 on The LIST of July, 1867
The imports for the year ending June 3Oth, 1853,
amounted to the enormous sum Of $685., 97S, 649,
on which the duty levied amounted to SCI, 1884,
529 l5. The increase in imports in SO over the
previous year was sixty millions! II is fact thai
cannot be overlooked that our imporiations have
very largely exceeded our separations, and the
question at once presents itself to every mind, how
is the difference to be paid2 Ii has been met 10
considerable extent heretofore by California gold,
but the supply from that quarter is inadequate 10
the deficiency or balance of trade against us, and
yet this difference must be met For many years
STATE and Corporation Stocks have found Eu-
rorean market and thus been the means OF ginning
an extensive credit upon the articles Of imports
into which they were converted.
But now these securities are not desired abroad
except al reduced rates. the old ones are fast ma
turing, while importations are increasing. What
must be the RESULT These securities which have
aided so largely to pay the balance of trade by de-
ferring the actual time OF payment for years, now
fail of their end, the supply OF California gold is
not adequate to meet the deficit, the balance OF
tradeis fast increasing and TO an enormous amount,
while the European war is creating demand at
home for funds which will make the holders of our
securities abroad press them into the market there
that will e-act here, and Monetary pressure like
that of 1910 must be the consequence unless
something be done to check the extravagant spirit
OF buying more than we sell, which is now heap
ing up against us foreign debt which must one
day press most disastrousy upon every interest of
the country. We would gladly be mistaken but
such has been the experience of the past and we
fear will be the fate OF the future.