The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1857-12-25
The National Finances.
The sui joined letter from tho Secretary OF the Treasury
showing condition Of the treasury laid before the
House Of Representatives on saturday last

showing condition OF the before the
House Of Representatives on saturday last
TYsAsrRY DEPARTMENT, Dec. is, 1857.
SIR-ln my annual report TO Congress of the sth in
slant explanation Of the which would lead TO
the necessity of supplying the treasury with the means Of
promptly meeting the lawful claims upon II given
stated that suoh provision should be made at the earliest
practicable period a. failure Of sufficient means In the
treasury may occur nj an early day"
At the time prepared that statement the weekly
pendtures exceeding the receipts TO extent that
induced the opiuon thus given. While the estimated
amount Of imrcrtatons justified the conclusion that the
tor the present might be sufficient TO meet
the wants Of the yet the actual receipts into
the treasury time 70 provide for the wants Of the pub
lie service dependent not on the amount of mer
chanoise imported but the portion entered for consump
tob At ;his time there held in warehouse in the city
OF New YORK alone, merchandise subject 10 duty exceed
ms twenty eight million dollars in value on which when
entered Tor consumption duties must I've paid TO the
mt Of more than Fix million dollars
The period when such payment OF duty will be made
may he Influenced 10y 70 many circumstances that the
pubic credit should not be hazardcd upon the csntin
gency Of ~ happening IN time 10 meet the liabilities
which W. know must be provided for at an early day
The amount In the treasury subject " draft
sidersbly lees than six million dollars When we reflect
that balances be kept in the hands Of puolc officers
in every part Of the United States, by whom drafts
required to be paid, will be readily perceived that
the scal operations Of the government cannot be
RED on with convenience aud security with less sum
in the Treasury The OF the expenditures the
receipts daily reducing this balance have been
PEELED to withdraw from the mint and IN branches the
amount usually vent there for the purpose II facilitating
the Of bullion into the benefit Of
rostors Such Withdrawal .essariiy occasions in.
convenience 10 Tue community winch should
be obviaied whenever u shall become practicable 10 do
II il proper ~ state that 10 addition 20 the ordinary
demands The Treasury the 81 $22 e62 2e
must be paid on e hrsi OF January next for interest
the public debt
In view of this state OF things, have the honor 10 ask
your attention the recommend my aDpua
port that authority be given by law 10 issue Treasury
not@s. think important that Congress should act AT
the subject thai the arrangements may
be made by the rsi day Of January meet such pubic
liabilities become payable At and before that time and
which cannot be longer postponed.
Though the SO 900 900 will In all probs-
biy be needed az early day II at ALL yet n deemed
best tina, the Department be authorized TO issue and keep
that sum should II be required by the public
The OF interest for manifest should be left
Discretionary with the Department, subject 20 the ap
prova OF the President hut rot 10 exceed six per centum
per anuum HOWL j. COBB, Sec. OF the Treas.
Lion CLANCY JoSEs, Chm VI Com. 81 Ways and Means.