The Middlebury register. [volume] (Middlebury, Vt.) 1850-1882, 1854-12-13

anu tWeHty-elyht uullnrS, OF which thore
had been paid on the goth day of Novem.
bor, 1854, the sum of twenty-five mil
lion three hundred and sixty-6ve thous.
and one hundred and sevcntv-two dol.
lars leaving a balance of outstanding
public debt of only forty-four million
nine hundred aud seventy FIVE thousand
four hundred and ifty.six dollars. re.
dcomablc at different periods within four
teen years. There are also remnants of
other Government stocks, most Of which
are already due, and on which the inter
.trcst has ceased, but which have not yet
been presented for payment, amounting
to two hundred and thrly.threo thous
aud one hundred and sevonty-nine dol.
lars. This statement exhibits the fact,
that the annual income Of the Govern
ment greatly exceeds the amount of its
public debt which latter remains unpaid
only because the time of payment has
not yet maturcd, and it cannot be dis.
charged at once, except at the option of
public creditors WHO prefer to retain the
securities of the United States aud the
other fact, not less striking, that the
annual revenue from all sources exceeds,
by many million of dollars, the amount
needed for prudent and economical al.
ministration of the Government.
The estimate presented to Congress
frcm the different Executive Depart
ments, ut the last session, amounted to
1hrty-cight million four hundred and six
thousand five hundred and eighty.onc
dollars; and the appropriations made,
:" ne ST.. of ifty.eight million one hun
ureu ana sixteen thnnsand ";ne hundred
and htty'eight dollars Of this excess
'ci appropriations over estimates howcv-
1v. moro than twenty millions was appli.
cable to extraordinary objects having
no reference to the usual annual expon-
diturcs. Among these object was en-
braced ten millions to meet the third ar.
ticlc OF the treaty between the United
States and Mexico; so that, in fact. for
objects of ordinary expenditure, the np.
preparations were limited to considerably
lcsa than forty millions Of dollars. I
therefore renew my recommendation for
n reduction of the duties on imports -
The report of the Secretary Of the Treas
ury presents series Of tables. showing
the operation Of the revenue system for
several successive years. and as the gen
era principle of reduction of duties with
n view to revenue. and not protection.
may now be regarded as the settled pol
icy of the country [ trust that little DIFF
fculty will be encountered in settling
tho details of measure 10 that cffact
In c'nnexion with this subject, re.
coiamend change in tho laws, which
recent experience has shown TO be essen. /
tiai to the protection Of tic Government. J
There is no express provision of law, re.
guiilug tie records aud papers of pub.
lie character, Of the several officers Of
the Government. TO be left in their Offices
Tor the use of their Successors. nor any
provision declaring !, felony nu their
Part to make false entries in the books.
or return false accounts. In the absence
ct such express provision BY law. tie
outgoing officers ia many Instance, have |
claimed and exercised the right to tubo
into their own possession important
books and papers, on the ground that
hasa uoro tbo;r n,;,oto ,r1oo,t, 1 |
l,vo ,l,cod ,Ln,n La"on., ~,
tho Govrrnnomt r'nd1o4 ar 49,
,cter bronaht IN soro.oi ;n.tanaaa o','i'
notice If tIn ,rceo,t sanro,nr r,' ~ u ,h
Treasury. naturally awakened his sus-
iici,n, and resulted in the disclosure
that at four ports, namely, Osweeo Tol-
edo. Sandnsky and Milwaukec.the Treas
1ry had, By false entries, been defrauded
:1 the l'ur years next preceding
al ,''H ~, ' ,, sum OF one nVnure"
r% "o"o oroa ICY; ;s s, n''i1 oT''aT h
detection Of these frau5s has I loan ' at
ended, in consequence of the abstrac.
lion of books and papers by the retiring
,llicers, and the facility with which SINH.
ar frauds in the public service may be
perpetratcd, render The necessity Of new
egal eIae'ments' IN the respects above
.s a,ar;, ,p' ?~I,e , oovious Dor other
ha'ef',! No"incau'hs 81 Tue revenue
yon 70 tho Ronort Of ,So g SO. '.'c of
tho Treasury That Pcnort ana tbe ~
Dles Which accompany il furnish annie
proofs of the solid foundation on which
the financial security of the country
rests, and of the salutary influence Of the
Independent Treasury System upon
NJ, and all monetary operations.
The experience of the last year fur
nisheS additional reasons, | regret to
say, of painful character, for the re-
co1'menaa'ion heretofore made to pro-
vac Tor increasing thc military force .
cinp,oyea IN me territory inhabited by
Inc ihd'ans. The settlers on the IRON
tier have SlltIpvpl much frdpo ilS IN /,