Glasgow weekly times. (Glasgow, Mo.) 1848-1861, 1854-12-14

OF our citizens for indemniiicatlon, and sub
missive acquiescence in national indignity.-
1t would have encouraged IN these lawless
men a spirit of insolence and RI pine most
dangerous to the lives and property Of our
citizens at Punta Arenas, and probably en-
boldened them to grasp at the treasure and
valuable merchandise continually passing
over the Nicaragua route. 1t certainly
would have been most satisfactory TO me if
the object Of the "Cyane's" mission could
have cunsummated without any act Of pub
lie force; but the arrogant contumacy OF the
offenders rendered il impossible to avoid the
alternative, either to break up their eStab-
lishmcnt or 10 leave them impressed with
the idea that they might preserve with i'm
punly i'll a career oil insoence and plnnder.
This transaction has been the subject Of
complaint on the part of some foreign pow
ers, and has been characterized with moro
Of harShness than Of justice. II compare
sons were to be instituted it would not be
difficult 10 present repeated instances III the
history Of States, standing in the very front
oil modern civilization, where communities,
far less offending and more dcfenceless than
Greytown, have been chastised with much
greater severity, and where not cities only
have been laid in ruins, but human life has
been recklessy sacrificed, and the blood of
the innocent made proiuseIy 10 mingle with
that OF the guilty.
Passing from foreign 10 domestic affairs.
your attention is naturally directed TO the
financial condition of the country, always
subject Of general interest. For complete
and exact information regarding the tnan-
ces, 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 during the last fiscal year, from
all sources, was $S73 ,549, 7O5; and that the
public expenditures for the same period,
exclusive Of payments on account OF the
public debt, amounted TO SOL 0l9,249.
During the same period, the payments
made i'll redemption OF the public debt, in
Guiding interest and premium, amounted to
1924 1876. $50. Tothe sum total of The re.
ceipts OF that year, is TO be added balance
remaining in the Treasury at the commence
ment thereof amounting to $2l ,942,S92;
and at the close Of the same year, cores
pondlng balance amounting TO 500, 1877 ,967
OF receipts above expenditures, also re-
manned in the Treasury. Although, in the
opinion Of the Secretary OF the Treasury,
the receipts of the current fiscal year are
not likely 10 equal in amount those of the
last, yet they will undoubtedly exceed the
amount Of expenditures by at least fifteen
millions OF dollars.
shall, therefore, continue to direct that
the surplus revenue be applied, so far as it
can be judiciously and economically done, to
the reduction Of the public Debt the amount
OF which, at the commencement of the last
fiscal year, was $67, $40, 62S; of which
there had been paid on the twentieth day Of
November, 1854, the sum Of $22, 1868, l72;
leaving balance Of outstanding public debt
Of only $44 5,456, redeemab!e at differ
ent periods within fourteen years.
There are also remnants Of other govern
ment stocks, most Of which are already due,
and OF which the interest has ceased, but
which have not yet been presented for pay
ment. amounting to $233.l79. This state
ment exhibits the fact that the annual income
OF the Government greatly exceeds the
amount Of its public debt, which latter re-
mains unpaid only because the time of pay
ment has not yet matured, a II cannot be
discharged at once except at the option Of
public creditors, who prefer to retain the
securities Of the United States; and the
other fact not less striking, that the annual
revenue from all sources exceeds, by many
millions of dollars, the amount needed for a
prudent and economical administration Of
: the Government.
The estimates presented TO Congress from
the different Executive Departments, at the
last session, amounted 10 1888, ACC 5Sl; and
the appropriations made, TO the sum of $685.
ll095S. OF this excess OF appropriations
over estimates, however, more than twenty
millions were 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; 50 that, in fact for OBJ
jects OF ordinary expenditure, the appropri-
atoms were limited to considerably less than
forty millions Of dollars. there ore renew
nv recommendation for reduction of the
/ duties on imports. The report of the Sec
rotary of the Treasury presents 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 country, | trust that little difficulty
will be encountered in settling the details Of
l measure 10 shat effect.
In c'nnexion with this subject, recon-
mend change in the laws, which recent
experience has shown to be essential to tho
; protection Of the Government. There is no
express provision of law, requiring the re-
cords and papers of a public character, of
: the several officers of the Government,
10 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
5 the books, or return false accounts. In tho
5 absence OF such express provisions by law
? the outgoing officers, in many instances, have
claimed and exercised the right 10 take into
their own possession important books and
= papers on the ground that they were their
IAIAth l.. IL