Democrat and sentinel. [volume] (Ebensburg, Pa.) 1853-1866, 1854-12-14

exact information regarding the finances, and
the various branches of the public service
connected Herewith. | refer you to the report
of the Secretary of the Treasury, from which
It will appear that the amount of revenue du-
ring the last ical year from all sources, was
seventy three millions five hundred andforty-
nine thousand seven hundred and five dollars:
and that the public expenditures for the same
period, exclusive of payments on account OF
the public debt amounted to ffty-one million
eighteen theusand two hundred and forty
nine dollars. During the same period, the
payments made in RECEPTION OF the. public
debt. including interest and premium, amount
ed to twenty-four million three hundred and
thirty-six thousand three hundred and eighty
dollars. q
To the sum total of the receipts of that
year is to be added balance remaining in
the Treasury at the commencement thereof,
amounting to twenty-one millions niue hun
dred and forty-two thousand eight hundred
and ninety-two dollars; and at the close Of
the same year, corresponding balance
amounting to twenty million one hundred and
thirty-seFen thousand nine hundred and ask
> ty-seven dollars Of receipts above expendi-
lures, also renlaineds in the Treasury. Al
though, In the opinion of the Secretary of
the Treasury, the receipts of the current fiscal
year are not likely to equal in amount those
of the last, vet they will undoubtedly exceed
the amount of expenditures by at least fifteen
millions Of dollars. [ shall, therefore, con-
tinue to direct that the surplus revenue be
applied, Sc far as it can be judiciously and
economically done, to the reduction of the
public debt, the amount of which, at the com
mencement of the last fical year., was sixty
seven ,lnillions three hundred and forty thou
sand SIX hundred and twenty-eight dollars
eff which there had been paid on tae twenti-
eth day of November 1854, the sum of
twenty-five millions three hundred and sixty
FIVE thousand one. hundred and seventy-two
dollars; leaving balance of outstanding
public debt of only forty-four million nine
hundred and seyenty-6ye thorsand four hun
dred and fffy-six dollars, reeeemable at diff
ferent periods within fourteen years. There
are also remnants OF other government stocks,
most of which are already due, and on which
the interest has ceased, but which have not
yet been presented for payment. amounting
to two hundred and thrty-three thousand one
hundred and seventy-nine dollars.
This statement exhibits the fact, that the
annual income of the government greatly ex-
ceeds the amount of its public debt, which
latter remains unpaid, only because the time
of payment has not matured, and it canuot
be dischargedat once, except at the option of
public creditors. who prefer to retain the Sc
curities of the United States; and the other
fact, no less striking that the annual revenue
from all sources exceeds, by many millions of
dollars, the amount needed for prudent and
economical administration of the govern
ment-
The estimates presented to Congress from
the different Executive Departments, at the
j ~. IL
four hHadred and six thousand FIVE hundred
and eighty-onc dollars; and the appropria-
tons made, to the sum of ffty-eight million
one hundred and sixteen thousand nine hun
dred and fifty EIGHT dollars OF this excess
of appropriations over estimates, however,
more than twenty millions was applicable to
. extraordinary objects, having no reference to
the usual annual expenditures. Among these
objects, was embraced ten millions to meet
the third article of the treaty between the
United States and Mexico so that, in fact,
for objects of ordinary expenditures, the az
preparations were limited to considerable less
than forty millions of dollars. / therefore,
renew my Recommendation for a reduction of
the duties on imports. The report of the
Secretary of the Treasury presents a series of
tables, showing the operation of the revenue
system for several successive years. and as
the general principle of reduction OF duties
with view To revenue and not protection,
may now be regarded as the settled policy of
the ceantry, i trust that little difficulty viii
be encountered in settling the details of a
measure to that effect.
In connection with this subject, [ recon-
mend change in the laws, which Seeent ex-
rerieuce has shown to be essential to the pro-
lection of the government There is no ex-
press provision of law, requiring the records
and papers of a public character, of the sew
eral officers of the government, to be left in
their Offices FOR the use of their SUCCESSORS
nor any provision declaring it felony on their
part to make false. entries IN the books, or re-
turn false accounts La the absence of such
express provision by law the out going Off
GERS, in many instances, have claimed and re-
eeiyed the right to take into their own possess
sion, important books and papers, on the
ground that these were their private property;
and have placed them beyond the reach of the
government. Conduct of this character
brought in several instances to the notice of
the present Secretary of the Treasury, natu-
rally awakend his suspicion and resulted in
the disclosure that at four ports, namely, Os-
Eeeo. Toledo Sandusky. and Milwaukee, the
treasury had, by false entries. been defraud-
ed within the four years next preceding
March. 1858, of the of one hundred and
ninety-eight thousand dollars. The great.
difficulty with which the detection OF these
frauds has been attended, in consequence of
the abstraction of books and papers by the re-
firing officers. and the facility with which
similar frauds In the public service may be
perpetrated render theanecessity of new le-
gal enactments, in the respects above refer