The weekly Portage sentinel. [volume] (Ravenna, Ohio) 1854-1861, 1854-12-13
innocent made prOfusely to mingIe with that

of the gully. .IHt
Passing from foreign 10 domestic affairs
your attention is naturally directed to the &.
nancial condition Of the country, always O
subject Of general interest. For complete
and exact information regarding the finance
and the various branches of the public SER
vice connected herewith Irefer you to the
report Of the Secretary of the Treasury from
the last fiscal year, from all sources, was sew.
enty-three million FIVE hundred and forty-nine
thousand seven hundred and FIVE dollars; ant
that the public expenditures for the same pc.
riod, exclusive OF payments on account the
public debt, amounted to fflty-one million
eighteen thousand two hundred and forty-nine
dollars. During the same period, the paw.
ments made in redemption of the public
debt, including interest and premium ,omount-
ed to wtenty-iour million three hundred and
thiriy-siX thousand three hundred and eigh.
ty dollars.
To the sum total of the receipts of that
year is to be added balance remaining in
the Treasury at the commencement thereof
amounting to twenty-one million nine hun
dred and forty.two thousand eight hundred
and ninety-twO dollars; and at the close OF
The same year, corresponding balance,
amounting 10 twenty million one hundred
and thirty-seVen thousand nine hundred and
sixtyseven dollars Of receipts above expen.
ditures also remained in the Treasury. AL.
though, 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, yet they will undoubtedly
exceed the amount of expenditures by at
least fifteen millions OF dollars. ! shall,
therefore, continue 10 direct that the sur
plus revenue be applied, so far as it can be
judiciousIy y and economically done, to the
reduction Of the public debt, the amount of
which, at the commencement Of the last
fiscal year, was 67,34O ,628 dollars, of which
there had been paid on the 2Oth day OF No.
vember, 1854, the sum of 22,365, l72 dol
lars; leaving balance of outstanding pub
lie debt Of only IA 1915, ,456 dollars, redeem.
able at different periods within fourteen
years. There are also remnants of other
government stocks, most of which are al
ready due, and on which the interest has
ceased, but which have not vet been presen-
ted ior payment, amounting to 233,l79 dol
lars. This statement exhibits the fact, that
the annual income OF the government great
y exceeds the amount Of its public debts
which latter remains unpaid, pny because
the time OF payment has not yet matured,
and it cannot be discharge at once, except
at the option of public creditors, who pre-
fer to retain the securities of the United
states; and the other act, not less striking
th.t the annual reGenue from all sources ex.
ceeds, by many millions of dollars, the
amount needed for prudential and econo-
mIeaI administration OF the Government.
The estimates presented to Congress from
the different Executive Departments, at the
last session, amounted to S3S, sos. 5Sl; and
the appropriations made, to the sum of $58.-
ll5,058. Of this excess of appropriations
over estimates, however, more than 20 600.
GOO was applicable to extraordinary objects, |
having no reference to the usual annual ex. |
pendtures. Among these objects, was en- !
braced Sl0,00U,0 600 to meet the third article !
OF the treaty between the United States and
Mexico; so that, in fact, for objects of or
dlnary expenditure, the appropriations were
limited to considerably less than $50,OO0,-
600. therefore renew recommendation for
reduction Of the duty ON imports.
The report Of the Secretary of the Treas
operation of the revenue system for several
successive years, and as the general princi-
pie OF reduction Of duties with a view to
revenue and not protection, may now be re-
oarded as the settled policy of the country.
trust that little difficulty will be encoun-
tered III settling the details of measuIe to
that effect.
In connection with this subject, recon-
mend change in the laws, which recent ex-
'erlencc has shown TO be essential to the
protection of the government. There is no
Express provisions of law, requiring the rec
1rds and papers of public character, of the
several officers of the government, to be left
n their offices for the use of their successors,
Tor any provision declaringi it felony on their
part to make entries in the banks, or return
alse accounts. In the absence of such ex-
'ress provision by law, the outgoing officers,
il. many instances have claimed and cxercis-
ID The right to take into their own possess
1on, important books and papers, on the
ground that these were their private proper
y; and have placed them beyond the reach
If the government. Conduct of this char
cter, brought in several instances to the no.
ice of the present Secretary of the Treas.
iry naturally awakened his suspicion, and
csulted in the disclosure that at four ports,
amcly, Cswego, Toledo, Sandusky and
lllwadkle, the treasury had, by false en-
rios, been defraudcd, within the four wears
ext proceeded March, 1853, of the sum of
ne hundred and ninety-eight thousand dol
ars. The great difficulty with which the
election of these frauds has been attended,
n consequence Of the abstraction of books
nd papers by the retiring officers, and the
acilty with which similar frauds in the pub
ic service may be perpetrated, render the ,
necessity of new legal enactments, in the
respects above referred to, quite obvious. {
For other material modification of the I
evenue laws which may seem to me desira-
lie, refer you to the rcportofthe Secretary
# the Treasury. That report and the tables
which accompany it, furnish ample proofs
# the solid foundation on which the financial
ecurity of the country rests, and of the sal
tary influence of the independent treasury
ystem upon commerce and all monetary op-
ra'ions. Il
The experience Of the last year furnishes ,
dditional reasons, l regret to say, of
ainiul character, for The recommendation
eretofore made, to provide for increasing /
he military force employed in the territory ,
lhabited by the Indians. The settlers on
he frontier have suffered much from the
icursions of predatory bands, and large par I
es of emigrants to our Pacific possessions t
ave been massacred with impunity. The ,
sCurrence Of such scenes can only be pre- I d