Staunton spectator. [volume] (Staunton, Va.) 1849-1896, 1854-12-13
No. IV.


A withdrawal from the place, The object
of his vi it entirely defeated, would under
the circumstances in which the COM
mander of The "Cysne" found himself.
have been absolute abandonment Of all
claim of our citizens for lndcmnlhcation.
ana Submissive acquiescence IN naiichh
indigpity. 1t would have encouraged in
these Iawless men spirit oi insolence and
rapine most dangerous TO the lives and
property OF our citizens at Punta Arenas.
and probably emboldened them 70 grasp ct
the treasures and valuable merchandise
continually passing over the Nicaragua
route.
II certainly would have been more sstis-
! factory to ne il the objects OF The "Cysne's
mission could have been contaminated
without any act Of public force but the ar
rocant coDiumacy of offenders rendered 1t
impossible to avoid the alternative, either
TO break up their establishment, Or to leave
them impressed with The idea that they
might pcrseyere with impuniiy in career
of in.olence and plumber.
Tins trans action has been the subject of
complaint on the part Of some foreign pow.
ers. and has been characterized with more
of harshness than of justice. II compare
sons were to be instituted, it would not be
difficult to present repeated instances IN the
history # states. standing in tie very front
of modern civilization, where communities,
far less offending and more defenceless
than Greytown, have been chastised with
much greater severity, and where not cities
cnly have been laid in ruins, but human
life has been recklessly sacrificed and tie
blood Of the innocent made rrofusely 10
mingle with that Of the gully.
Passing from foreign 10 domestic a6'ars,
ycur attention is naturally directed to the
| financial condition Of the country, always
ubec, of general interest. For complete
and exact information regarding the fhan-
ces, and the various branches Of the public
seiyice connected Herewith, refer you 10
tie report OF The Secretary ofthe Treasury,
from which it will appear, that the amount
Of revenue during the last fiscal year, from
all sources, was seventy y-three million FIVE
hundred and forty-nine thousand seven
hundred and FIVE dollars and that, the pub.
lie debt amounted TO iity-one million eight.
t. en- thousand Two hundred and forty. nine
dol az.
During the same period the payments
made in redemption of the public debt,
including interest and premium, amounted
to twenty -four million three hundred and
thiry-six thousand three hundred and
eighty dollars. To the sum total of the
receipts of that year is TO be added bal.
ance remaining in the Treasury at the com.
mcncement thereof, amounting to twenty.
one million nine hundred and forty.two
thousand eight hundred and nlne-two dol.
lars and at the close Of The same yea-. q
corresponding balance amounting to twer.
.y-nlillion one hundred and thirty seven
thousand nine hundred and sixty-seyen
dollars Of receipts above expenditures, al.
so remained in the Treasury.
Although, in the opinion, Of the Secre.
tary, Of the Treasury, the receipts of the
current fiscal year are not likely TO equal
Is amount those Of the last, yet they will
undoubtedly exceed the amount of expen.
ditures by at least fifteen million of dollars.
| shall, therefore, continue TO direct that
the surplus revenue be applied, so far as it
can be iud:ciousIy and economically done,
TO the reduction Of The public debt; the a.
mount of which al the commencement of
the last fiscal year, was sIxty-seven mil
lion three-hundred and forty thousand six
hundred and twenty-eight dollars; of
which there had been paid on the Goth day
OF November lS54,the sum of twenty-five
million three hundred and sixty-fve thou.
sand one hundred and seveniy.two dollars;
leaving a balance of outstanding public
debt Of only forty-fou million nine hundred
and seventy-fve thousand four hundred
and ffty-six dollars, redeemable at differ
ent 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 yet been presented for pay
ment, amounting to two hundred aud thir-
ty.tbree thousand one hundred and seven
ty.nine dollars. This statement exhibits
the fact, that the annual income of the gov
ernment greatly exceeds the amount of its
public debt, which latter remains unpaid.
only because the time of payment has not
vet matur, d and it cannot be discharged at
once except at the option of public credi-
tors, 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 administration of the Gov.
ernment.
The estimates presented to Congress from
the different Executive Departments at the
last session, amounted to thirty.eight mil
lion four hundred and six thousand five
hundred and eighty-one dollars; and the
appropriations made, to the sum of fifty
eight million one hundred and sixteen thou.
sand nine hundred and ffty-eight dollars.
Of this excess of appropriations over esti-
mates, however, more than twenty millions
was applicable to extraordinary objects,
having no refereace to the usual annual ex-
pendi.ures.
Among these objects, was embraced ten
millions 10 meet the third article of the trea-
ty between the United States and Mexico;
so that, in fact, for objects of ordinary ex-
pendture, the appropriations were limited
to considerably less than forty million of
dollars. therefore, renew my recommen.
dalion for reduction of the duties on imports.
The report OF the Secretary of the Treasu-
ry presents series of tables, showing the
operation Of the revenue system for seve.
Ial successive years, and as the general
principle of reduction of duties with a view
TO revenue and not protection may now be
regarded as the settled policy of the coun.
try, trust that little difficulty will be en-.
countered in settling the details Of meas.
ura m that effect