Fayetteville observer. [volume] (Fayetteville, Tenn.) 1850-1966, 1856-01-17

quarter, and the estimated receipts
for the remaining three quarters,
amount, together, to sixty-seven mil
lion nine hundred and eighteen thou
sand seven hundred and thirty-four
dollars, thus affording in all, as the
available resources of the current
fiscal year, the sum of eighty-six
million eight hundred and fifty-six
thousand seven hundred and ten dolt
lars.
II, to the actual expenditures of
the first quarter of the current fiscal
year, be added the probable expen-
ditures for the remaining three quar-.
ters, as estimated by the Secretary
of the Treasury, the sum total will
be seventy.oue million two hundred
and twenty.six thousand eight bum
dred and forty-six dollars, thereby
leaving an estimated balance in the
Treasury ON July l, 1856, of fifteen
million six hundred and tweEty-three
thousand eight hundred and sixty
three dollars and forty-one cents.
In the above estimated expendi-
lures of the present fiscal year are
included three million dollars to meet
the last instalment of the ten millions
provided for in the late treaty with
Mexico; and seven million seven
hundred and fifty thousand dollars,
appropriated on account Of the debt
due to Texas, which two sums make
an aggregate amount of ten mil
lion seven hundred and fifty thou
sand dollars, and reduce the expendi-
lures, actual orestimated, for ordinary
objects, Of the year, to the sum of
sixty million four hundred and sew
enty-six thousand dollars.
The amount of the public debt,
at the commencement of the present
fiscal year, was forty million five
hundred and eighty-three thousand
six hundred and tbirty-one dollars,
and deduction being made of subse-
quent payments, the whole public
deb: of the Federal Government re-
manning at this time is less than forty
million dollars.
The remnant Of certain other
Government stocks, amounting to
two hundred and forty-three thou
sand dollars, referred to in my last
message as outstanding, has since
been paid.
| am fully persuaded that it would
be difficult to devise system supe-
rior to that by which the fiscal bust
ness of the Government is now con-
Quoted. Notwithstanding the great
number Of public agents of collec-
ton and disbursement, it is believed
that the checks and guards provided,
including the requirement of month
ly returns, render it scarcely possible
for any considerable fraud on the
par. of those agents, or neglect in
volving hazard of serious public loss,
to escape detection. / renew, how
ever, the recommendation, heretofore
made by me, of the enactment of a
law declaring it felony on the part
Of public officers to insert false en-
tries in their books of record or &C.
count, or to make false returns, and
also require them, on the termina-
ton of their service, to deliver to
their successors all books, records,
and other objects Of public nature
in their custody.
Derived as public revenue is, in
chief part, from duties on imports,
its magnitude affords gratifying evil
dence of the prosperity, not only of
our commerce, but of the other great
interests upon which that depends.
The principle that all moneys not
required for the current expenses of
the government should remain for
active employment in the hands of
the people, and the conspicuous fact
that the annual revenue from all
sources exceeds, by many millions Of
dollars, the amount needed for pru-
dent and economical administration
of public affairs, cannot fail to sng-
gest the propriety of an early revis-
ion and reduction of the tariff Of du-
ties on imports. 1t is now so gener-
ally conceded that the purpose OF
revenue alone can justify the impo-
sition of duties on imports. that, 10
re-adjusting the impost tables and
schedules, which unquestionably re-
quire essential notifications, depar.
ture from the present tariff is not
anticipated.
The armv, during the past year,