Plymouth banner. (Plymouth, Marshall County, Ind.) 1852-1855, 1854-12-21
CONCLU SION
CONCLUSION
OF THE
PRESIDENTS MESSAGE

Passing from foreign to domestic af-
fans, your attention is naturally directed
10 the financial condition OF the country
always subjec, of general interest. For
complete and exact information regard
ing the finances, and the various branch
es Of the public service connected there
with, | 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 seventy three million five
hundred aud forty 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 fifty one mil
lion eighteen thousand two hundred and
forty-nine dollars.
During the same year the payments
made in redemption of the public debt,
including interest and premium. amount
ed to twenty -four million three hundred
and thiriy-six thousand three hundred
and eighty dollars. To the sum total OF
the receipts Of that year is TO be added a
balance remaining in the Treasury at the
commencement thereof, amounting TO
twenty one million nine hundred and for
ty-two thousand eight hundred and
ninety-two dollars: and at the close OF
the same year. a corresponding balance
amounting to twenty million one hundred
and thirty seven thousand nine hundred
and sixty seven dollars of receipts above
expenditures, also rema ined in the Treas
ury. Although 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 year.
yet they will undoubtedly exceed the
an mount of expenditures by at least ff-
teen millions Of dollars. | shall. there
fore, continue TO direct tha. the surplus
revenue be applied. so far as it can be
judiciously aud economically done, to the
reduction of the public debt. the amount
of which. at the commence ment Of the
last fiscal year, was sixty seven million
.hree hundred and forty thousand six
hundred and twenty eight dollars; of
which there had been pad on the twen-
tieth day of November. 1851. the sum Of
twenty-five million three hundred and
sixty five thousand one hundred and sew
enty-two dollars; leaving balance Of
outstanding public debt Of only forty
tour million nine hundred and seventy
five thousand four hundred and fif;y-six
dollars, redeemable at different 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 10 two hundred and thirty
three thousand one hundred and seventy-
nine dollars. This statement exhibits
the fact, that the annual income of the
government greatly exceeds the amount
OF its public debt, which latter remains
unpaid, only because the time of payment
has not yet matured. and it 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 prudent and economical ad-
minIstration of the Government.
The estimates presented to Congress
from the different Executive Departments,
at the last session. amounted TO thirty
eight million four hundred and eighty
one dollars; and the appropriations made,
TO the sum of ffty-eigh. million one
hundred and sixteen thousand nire hun
dred and fifty eight dollars. OF this ex
cess of appropriation over estimates
however, more than twenty millions wal
applicable to extraordinary objects, having
no reference to the usual annual expen
ditures. Among these objects, was EN-
braced ten millions TO meet The third ar
ticle Of the treaty between the United
States and Mexico; so shat. in fact, fo
objects of ordina ry expenditure, the ap
propriations were limited to considerable,
less than forty millions of dollars.
therefore renew my recommendation 70
q reduction of the duties on Imports
The report Of the Secretary Of the Treas
ury presents a series Of tables, showing
the operation Of the revenue system 70