Clearfield Republican. [volume] (Clearfield, Pa.) 1851-1937, 1854-12-06


rhnsutJd with much gtoAlcr w,ouly ond
whore mot cities ouIy have been lo.d lu
ru.u, but human l.o haa hrun pck.u...y
facr.drcd and Jhc blood of lhc innocent
made prollNcly lom.ng.c with lhal of the
guilty
Passing from loru.gulo domestic anairs.
yuur attention Us naturally directed lo the
hnsucIol condition cr Dhu country. always
"a subject OF general interest. For com.
plele aud exact Information regarding The
finances, aud the various branches oI 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 fs.
cal year from all sources, was seventy.
three Millions five hundred and forty nlno
thousand seven hundred and FIVE dollars /:
aud that the public expenditures for tho
same period, exclusive OF payments on ac.
count Of The public debt, amounted todny.
one million eighteen thousand two hundred
and lorly-ninS dollars. During the same
period, the payments made in redemption
Of the public debt, including interest and
premium, amountedto twenly.lour million
three hundred and thiry.six thousand
three hundred and eighty dollars.
To the sum total OF the receipts Of that
year is 10 be added balance remaining
IN the Treasury at the commencement
thereof, amounting TO twenty.one millions
nine hundred and fony.two thousand eight
hundred and nine.two dollars and at the
close ol the same year, corresponding
balance amounting 10 twenty million one
hundred and thirty seven thousand nine
hundred and sixty.seven dollars of receipts
above expenditures, also remained in tho
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, vet they
will Undoubtedly exceed the amount Of oX.
pendltures by at least fifteen millions Of
dollars. shall, therefore, continue TO
direct that the surplus revenue be applied.
so far as it can be judciously aud eco.
nomically done, TO the reduction of the
public debt, the amount OF which, at the
commencement of the last fiscal wear, was
SiXty.seven millions three hundred and
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-five million three hun.
dred and sixty five thousand one hundred
and seyenty.two dollars; leaving a bal.
eDce of outstanding public debt of only
tOrty.iour million nine hundred and sew.
eDty.fye thousand four hundred and fr.
iy.slx dollars, redeemabc at different pc.
RODS 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 seventv.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 paymen, has not vet
matured, and 1t cannot be discharged at
once, except at the option of public cred.
iiors, who prefer TO retain the securities
Of the United States and the other fact,
no, less striking that the annual revenue
from all sources exceeds, by many mil.
lions Of dollars, the amount needed for a
prudent and economical administration OF
The government.
lie estimates presented to Congress
jrom the different Executive Departments,
at the last session, amounted to thirty.
eigh, million four hundredand six thousand
five hundred and eighty.one dollars and
the appropriations made, TO the sum of lif.
ly-eight million one hundred and sixteen
thousand nine hundred and flty.eight dol.
lars. OF this excess Of appropriations
over estimates, however, more than twen.
ty millions was applicable TO extraordina.
ny 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
appropriations were limited to considera.
bly, less than forty millions Of dollars.
therefore, renew my recommendation fol
reduction ofthc duties on imports. The
report Of the SECRETARY of the Treasury
presents series Of tables, showing the
operation Oft the revenue system for several
successive years, and as the general prn.
ciple Of reduction ordulies with view TO
revenueand not protection, may now be re.
gnrdcd as the settled policy oftbe conntry
trust that little difficulty will be encoun.
Ierod IN settling the details OF a measure to
ibul effect.
10 connexion with this subject, recon.
mcod change in the laws, which recent
experience has shown to be essential 10 the
protection Of the government There is
no express provision Of law, requiring the
records and papers Of public character.
of the several officers oc th,, o,,,.o.,,.,