Gallipolis journal. [volume] (Gallipolis, Ohio) 1837-1919, 1854-12-21
PRESIDENTS MESSAGE.
so(coEcLuDED.)

TO Inc AndnClai cOndluOn OF tne country
always subject of general interest,"
For complete and exact information re
garding the, finances, and the variou:
branchesof the service connected there,
WITH refer, you to the report of the
Secretary of the Treasury; from which
it will appear, that the amount of sreve.
nue. during the last fiscal year, from al
sources, was seventy three millions FIVE
hundred and fortyrnine thousand seven
hundred and FIVE dollars; and that the
public expenditures for the same period,
exclusiyelof payments on account of the
public debt, amounted to fifty-ene mil
lions eighteen thousand two hundred and
forty-nine dollars. During the same
period, the payments made'in redemp-
ton of the public debt, including inter
est and premium, amounted to twenty
fournm million, three hundred and eighty
dollars To the sum total of the re-
ceiptsl of that year is 10 be added a
balance remaining inTthe Treasury at
the commencement thereof, amounting
to itKentytone million nine hundred and
forty4twe thousand eight hundred and
ninety two dollars; and at the close oi
the same year, corresponding balance
aziountihg to twenty million one hun
dred and thirty thousand nine
hundred and sixty y-seven dollars of re-
ceipts above expenditures, also remained
inithe Treasury. Although, in the
epihionIof the Secretary of the Treasu-
ry;othe receipts of the current fiscal
year are not likely to equal in amount
those of last yet they will undoubtedly
exceed; the amount of expenditures by
at least fifteen million Of dollars. I
shall; therefore, continue to direct that
the surplus revenue be applied, SO far as
it can be judiciously and economically
done, to the reduction of the public debt,
the amount of which, at the commence
ment of the last fiscal year, was sixty
seveni million 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 hundred and sixty five thousand
one hundred and seyenty-two dollars;
leaving balance of outstanding public
debt Of only forty -four million nine hum
dred and seventy-fve thousand four
hundred and fifty-six dollars, redeem
able at different periods within fourteen
years. There are also remnants of
other government stocks, most of which
are already due and on which the in
terest has ceased, but which have not
yet been presented for payment, amount
ing to two hundred and thirty-three
thousand one hundred and seventy mine
dollars. ~ 5Eas .i-iT iGti tt :
The statement exhibits the fact, that the an
nual income of, the government far exceeds the
amount of its public debt, which latter remains
unpaid, only because the time of payment has
not vet matured, and it cannot be discharged
atonce, except at the option of public creditors,
who prefer to retain the securities of the United
States; and the other fact, not less striking,
that the annual revenue from ali sources. ex-
ceeds, by many millions of dollars, the amount
needed for a prudent and economical admins
tration 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-on dollars; and the appropriations
made, to the sum of fifty-eight million one
hundred and sixteen thousand nine hundred
and hfty-eight dollars, OF this, excess of ap-
preparations over estimates, however, more
than twenty millions was applicable to extra
ordinary objects, having no reference to the
usual annual expenditures. Among these OBJ
iects 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 expenditure, the appropriations
were limited to considerably less than forty
millions of dollars Therefore, I renew my
Recommendation for a reduction of the duties
on imports. The report of the Secretary Of
the Treasury presents series Of tables, show
ing the operation of 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 re-
garded as the settled policy Of the country, I
trust that little difficulty will be encountered
in settling the details of a measure to that
effect. -3f :2f --a '9ia
In connection with this subject, recommend
achange in the laws, which recent experience
has shown to be essential to the protection Of
the government There is no express pro-
vision of law, requiring the records and papers
of public character, Of the several officers Of
the government, to be, left in their Offices for
the use of their successors, nor any provisions
declaring it felony on their part to make false
entries in the books, or return false accounts =
In the absence of such express provision by
law, the outgoing officers, in many instances,
have claimed and exercised the right to take
into their own. possession, important books and
papers,on the ground that these We're their
private property; and have placed them be-
yond the reach of the government Conduct
of this character, brought IN several Instances
to the notice of the present Secretary iof the
Treasury, naturally awakened his suspision,
and resulted in the disclosure that at four
points, Oswego, Toledo, Sandusky, and Mil
waukie, the Treasury had, by false entries,
been defrauded, within the four years .prece-
ding March, 1913, of the sum Of one hundred
and ninety=eight thousand dollars. The great
difficulty with which the detection Of these
frauds has been attended, in 'consedaenee of
the abstraction of books and papers by the ne
tiring officers, and the facility with which
similar frauds in the public service may be
perpetrated, render the necessity Of new legal
enactments, in the respects above referred to
ouite obvious; For other material modifiea
tiionis of the revenue laws which seem TO be de
sirable, / refer you to the report of the Secre
tarv. That report, and the tables which &C
company Il, furnish ample proofs Of the solid
Foundation on which the financial security o.
tbe csufitry rests. and of the safutary infuenct
of the independent treasury system upon CON
,nerce and all monetary operations.
Al L. cl.as