Loudon free press. (Loudon, Tenn.) 1852-1855, 1854-12-13
NO. 81.

ted Herewith, refer you to the report of Sec
retary of the Treasury; from which it will ap.
pear, that the amount of revenue during the
last fiscal year, from slI sources, was seventy
three million five hundred and forty-nine thou
sand 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 6ftyone million eighteen
thousand two handred and forty nine dollars
During the same period, the payments made
in redemption of the public debt, including in
terest and premium. amounted to twenty four
nllion three hundred and thrtY-six thousand
three hundred and sixty.eisht dollars. To the
sum total of the receipts Of that year is to be
added balance remaining in the Treasury at
the commencement hereof,amounting to twenty
one million nine hundred and forty wo thousand
eight hundred and ninety two dollars and
at the close of the same year, corresponding
balance amounting to twenty million one hun
dred and thirty seven thousand nine bun dred
and sixty keven dollars of receipts above ex-
penditreS also remained in the Treasury
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, vet they will undoubtedly exceed the
amount Of expenditures at least fifteen millions
of dollars.
! shall therefore, cortiDue to direct that the
surplus revenue be applied, so far as it can be
Iadicionsly and economically done, to the re-
duction of the public debt the amount of
which, at the commencement of the last fiscal
/ year. WAS sixty seven million there hundred
aud forty thousand six hundred and twenty-eight
dollars Of which there had been paid on the
twentieth day of November 1854, the sum of
twenty two million three hundred and sixty
FIVE thousand one hundred and seventy two
dollars; leaving a balance of public debt of
only forty four million nine hundred and seven
ty thousand four hundred and fifty six dollars,
redeemable at different periods within fourteen
years There are also remnants of other govern
ment stocks, most of which are already due,
and on which the interest has ceased, but
which have not vet been presented for payment,
amounting to two hundred and thirty three
thousand one hundred and seventy nine dollars.
This statement exhibits the fact, that the annu-
al income of the government greatly exceeds
the amount of its publc debt, which latter
remains unpaid only because the time of pay
ment has not yet matured, and it cannot be
discharged at once, except at the option of
public creditors, who prefer to retain the secu-
rites of the United States; and the other fact,
not less striking. that the annual revenue from
all sources exceeds, By 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 to thirty eight million
four hundred and six thousand FIVE hundred
and eighty one dollars; and the appropriations
made to the sum of fifty eight millions one
hundred and sixteen thousand nine hundred
and fifty eight dollars. OF this excess of ap-
preparations 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 ef the treaty between the United States
and Mexico; so that, in fact, for objects of
ordinary expenditures, the appropriations were
limited to considerably less than forty
millions of dollars. therefore renew my re
commendatiOn for a reduction of the duties on
imports. The report of the Secretary of the
Treasury presents series Of tables, showing
the operation Cf 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 viii be encountered in settling
the details Of a measure to that effect.
In connexion with this subject | recommend
a change in the laws, which recent experience
iiio StiOWD 10 De tSStHtldl VI Ite pTOlecllOO OF
the government. There is no express provision
Of law, requiring the records and papers OF a
public character. of the several officers of the
COVE rnment, nor provision declaring 1t felony
)n their part TO make false entries in their
books. or return fal,e accounts. In the absence
IF such express provision by law, the out going
)ficerS. in many instances have claimed
md exercised the right to take in their
,wn possession, important books and papers, on
he ground that these were their private proper
v; and have placed them beyond the reach
# the government Conduct of this character
,rought in severa instances to the notice of
he present Secretary Of the Treasury. naturally
wakenod his suspicion, and resulted in the
disclosure that of four ports, namely, OSwego,
'oledO, Sauduskv and Milwaukee, the treasury
ad, by false entries, been defrauded, within the
lnr years next preceding March, 1853, of the
am of one hundred aud ninety eight thousand
ollars. The great difficulty with which the
lese faudS has been attended, in consequence
the abstraction Of books and papers by the
etiring officers. and the facility with which
mar frauds in the public service may he per-
etrated, render the necessity of new legal
nactments, in the respects above referred to,
ute obvious. Far other material notifications
{ the revenue laws which seem TO me desirable;
refer YOU to the report of the Secretary of
le Treasury. That report, and the tables
hich accompany it, furnish ample proofs of
e solid foundation on which The financial
curty Of the country rests, and of the saluta-
influence Of the independent treasury system
oon commerce and all monetary operations.
The experience of the last year furnishes
lditional reasons / regret to say, Of painful
aracter, for he recommendation heretofore
a e, to provide for increasing the military
roe employed in the territory inhabited by
p Indians. The settlers on the frontier have
fercd much from the incursions of predatory
nds, and large parties Of emigrants to our
lcifc possessions have been massacred with
puHity. The reocurrepce of such scenes can
ly he prevented by teaching the wild tribes
2 power of, and their responsibility to, the
lited States. From the garrison our frontier
SITS, it is only possible to detach troops in
all bodies: and though these have on all
casons displayed a gaantry and a stern
vnton to duty. which on a larger field would
We commanded universal admiration, they
ve usually suffered severely in these conflicts
IN superior numbers, and have sometimes
Ell entirely sacrificed.
All the disposable force ofthe army Is already
ploved on this service. and is known to be
ollv inadequate to the protection which should
afforded. The public mind Of the country
; been recently shocked by the SAVAGE atroc-