The Ottawa free trader. [volume] (Ottawa, Ill.) 1843-1916, 1854-12-09
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ton 81 the pGhilr dcut, The amount 81 winch,
at the commenccmcnt of the last fiscal yea,
was sisiyrseven million three hundred ana
forty thousand -ix bundled and twenty eight
,lolafs; If Which there had been paid q
Che twentieth day Of November, 1884, the
bum Of twenty-five million three hundred
and siSD-fye llousand one hundred ard sew
cnty-two dollars; leaving balance Of out.
standing public debt of only iorty-iour mil
lion mite hundred and seveuty-tive thousand
four hundred aud titty>iS dollars, redeema.
bio at different periods within fourteen years.
There are also remnants Of other govern.
mcrt stocks, most of which are already due,
aHa on which the interest has ceased, but
which have not yet been presented for pay
mout, amounting TO two hundred and thirty
three thousand one hundred and seventy
nma dollars. This statement exhibits the
fact, tina, the annual income Of the govern
mont greatly exceeds the amount of its pub
lie debt, which latter remains unpaid, only
because the time Of payment has not vet
maturcd, and it cannot be discharged at
once, except at the option Of rnblc credit
ors, who prefer to retain the securities Of the
United States and the other fact, not les,
striking, that the annual revenue from all
sources exceeds, by many millions of dollars
the amount needed for n prudent and eco
nomicai administration Of the Government.
Mhe estimates presented to Congress from
the diiIcrei, Executive Departments, at the
last session, amounted to thirty-clght mil,
lions four hundred and six thousand i've hun
drel and cighty-one dollars; aud the appro-
priations made, to the SUN Of iftv-cighr
millions one hundred and sixteen thousand
nine hundred and iifty-eighl dollars. OF
( tins excess O! appropriations over estimates
. however, mo,e than twenty millions was up.
plicabla to extraordinary objects, having No
/ reference to the usual annual expenditure
Among these objects, was embraced ten mil
/ lions to meet the tlirl article of the treaty
between the United State, and Mexico; 50
! that in fact, for objects Of ordinary cxpcndi.
tpre, the appropriations wcr" limited 10 con.
| sidcrably less than forty million, Of dollars
/ | therefore renew my recommendation for .
reduction Of duties on imports. The rcpor,
Of the Secretary Of the Treasury presents Il
series Of tables, showing the operation Of the
revenue system for several successive years
and as the general principle Of reduction Of
duties with a view to revenue and not pro.
lection may now he regarded rs the settled
policy of the country, trust that little dill
Guilty viii be encountered in settling the dc
tails Of "A measure to that effect.
in connection with this subject, recon
mend a change in the laws, which recent ex
pcrionce has shown 70 BE- essential to tie pre-
lection Of the government There Is Il.
expires, provision Of law, requiring the re
cord, and papers Of a public character, Of tn,
several officers of the government, 10 be lief
in their Offices for the use Of their success
s,ls nor any provision declaring it felony OF
their part to make false entries in the books
or return false accounts. In the absence .
: such cypress provision by law, the outgoin;
p officers, in many instances, have claimed an,
exercised the night to take into their owl
possession, important books and papers, o
, the ground that these were their priya,
, property; and have placed them beyond til
I reach t the government. Conduct Of th
character, brought IN several Instances 90 tn
notice Of the present Secretary OF the Irca,
urv, naturally awakened his suspicion, Al.
resulted in the disclosure that at four point
namely, O,wcgo, Toledo, Slniusky aud 81
p wauxoc, the treasury hal, by false ontrle
p been defrauled, within the four ycar, neN
e preceding March, 1858, Of the sum Of on
p hundred and niucty-ci-ht thousand dollar
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