Kenosha tribune & telegraph. [volume] (Kenosha, Wis.) 1856-1859, 1858-12-16
NO. o..

produce disasterous results to our domestic mann.
lectures. No tarff short of absolute prohibition
can prevent these evil consequences. ls,y sei
CONDITION oT THE TREASURY. 1ad
In connection with this subject, it is proper 70
refer TO our financial condition.. The same causes
which have produced pecuniary distress through.
OUT the country, have SO reduced the amount OF
imports from foreign countries, that the revenue
mas proved inadequate to meet the necessary ex.
penses of the government To supply the def.
cheney, Congress, by the act of the 23d Of Decen,
Der 1857, authorized the issue of $40. 900. 600 OF
treasury notes, and this proving INADEQUATE thew
authorized by the act of June IA 1858. a loan Of
$2O 900 0O0, T" to be applied to the payment of an
preparations made by law ah -
No statesman would advise that we should on
on increasing the national debt to meet the ord.
nary expenses of the government This would be
most ruinous policy. In case of war our credit
must be our chief resource at least for the first
year, and this would be greatly impaired nv bav-
ing contracted large debt in time Of peace 1t is
our true policy to increase our revenues so az TO
equal our expenditures. 1t would be ruinous to
continue to borrow. Besides, il NAV be proper to
observe that the incidental Profession thus afford
ed by revenue tariff would, at the present mo>
neat, to some extent, increase the confidence of
the manufacturing interests, and give a fresh inns
pulse TO our reviving business. To this surely no
one will object. ..T .f 81
TARIFF. s..l,5 n...
The message under this head, simply advocates
the assessing and collecting of specific duties. in-
stead OF the present sliding scale system Y '..
RECEIPTS AND EXPENDITURES. " aioA
The receipts of the treasury from all sources dr
ring the fiscal year ending June S0th, s5s inclu.
ding the treasury notes authorized by the act of
December 23d, 1857, were $40, 273, S69 SO. which
amount, with the balance of $l7,7l0,Il4 81 re.
manning IN the treasury at the commencement Of
the year made an aggregate for the service of the
year Of $87, 9S3, 9S3 81. 3f, FF -
The public expenditures during the fiscal year
ending Jane 80, 1858, amounting to eighty.one
ln'llion tive hundred aid eighty-fye thousand six
hundred and seven-sixty dollars and seventy-six
cents, ($Sl ,5S5,676. 76 of which nine million sir
numbered and eighty-eght thousand five hundred
and thirty-seven dollars and ninety-nine cents
" 9,6SS,5 37 $50 We're applied to the payment of
the public debt, and the redemption of treasury
notes with the interest thereon, leaving in III.
treasury on July l, 1858, being the commencement
of the present fiscal Year. six million three HIM.
dred and ninety-eiglt thousand three hundred and
sixteen dollars and ten cents. S6,39s.3I6 IO.A
The receipts into the treasury, during the first
quarter of the present fiscal year commencing the
lst July 1858, Including one half of the loan of
twenty million of dollars, with the premium upon
it. authorized by The act of I4th June, 1853. were
twenty-five million two hundred and thirty thous4
and eight hundred and sevcnty-nine dollars and
forty-sx cents, ( S25, $50, S79 AZ. and the esti
mated receipts for the remaining three quarters to
the 30th of June, 1859, from ordi.ary cources are
thirty-eight million five hundred thousand dollars
$38, 500, 900, making with the balance before
stated, mn aggregate of seventy million one hun-
dred and t~enty-aine Thousand one hundred and
ninety-hve dollars and ffty-sx cents, $40, l29.-
1876. SD ~ "ot ~ " i3 NFFP1-s'A
The expenditures, during the first quarter of tho
present fiscal year, were twenty-one million seven
hundred aud eight thousand oae hun Sred and
dollars and fifty-one cents 1921 7OS,-
1875 81 > OF which one million and ten thousand
on hundred and forty-two dollars and thiftyeseyen
cents, (Sl,0l0,l42 81 were applied to the paw.
ment of the public debt and the redemption of
treasury notes and interest thereon. The estema>
ted expenditures during the remaining three quar-
tiers to Both June, 1859, are fty-two million three
hundred aud iifty-seyen thousand SIX bundled and
dollars aud fortyseight secnts 1852.
357 ,69s 49, MASKING anaggsegste Of seventy-feur
million sl4ty-fre thousand eight hundred and
nineiy-si dollars and iiiety-nin cents 8 "A 065
$50 49, being an excess of expenditure, beyond
the estimated receipts into the treasury from ordi<
mary sources during the fiscal year to the s0th june
1856 of three millionin nine hundreu and thrty-aix
thousand seven hundred and one dollars and forty
three cents SO 936,7n1 43.) Extraordinary means
are placed by law Within the command Of the Sec
etsry Of the Treasury, by the reissue of treasury
notes redeemed, and by negotiating the balance
of the loan authorized by the act of l4th June
1853, TO the extent of eleven millions of dollars
which, if realized during the present fiscal year,
viii leave balance in the treasury on the first
day Of July, 1852 Of seven million sixty-three
thousands two hundred and ninety-eight dollars
and fittH-ssvcn cents ($7, 063, 298 SD
The message gives thS estimate of receipts
and expenditures for tho year ending June 1860,
from which it?appesrs that the excess of expen.
ditures over the receipts. including tho estima
ted deficit in the Post office Department at that
period will be neary $3,000,000. To provide
for this deficiency and other contingencies, a re.
vision Of the tariff is advised, so as 10 meet tks
required amount. The message procesds 34
The public debt on the LIST of July 1853, the
commencement Of the present fiscal year, was
$25, l45, 977 81.
z During the first quarter of the present year,
the sum of 9 10 900 800 has been negotiated OF
the loan authorized by the act Of 18th of June
fascinating the present outstanding public
debt, exclusive oftreasnry notes, $50, 55 977 Sc
There was on the st of July 1858, of treasury
notes issued by authority Of the act of Dec. 81
1857, 2nredeemed, the sum of $40 754 ,8Oo---nak
ing the amount of actual indebtedness at that
date, $549I0,777 ,66. To this viii be addad
$4,000, 800 during the present fiscal year. thig
being the remaining half of the loan of $50 600
900 not yet negotiated. al
The President contends that the comparisons
which have been Instituted in respect TO the er.
pendtures under the present administration and
those ID former years. are altogether ~fallacious
The rapid increase of our population renders /.
corresponding increase of expenditures to con-
siderable extent unavoidable.
b 6sg POST OFFICE
, The expenditures os this department, have
been progressively increasing from year to year.
over the receipts. The cause Of these deGcits
is mainly attributable to the increased expens.
of Transporting the mails. TO remedy the do.
ticencies in this department, the President recon-
mends to the grave consideration of Conpress /,
the Report of the Post Master General. which
proposes TO raise the rate of letter postaoe tn
five cents on single letters-also to modify tn.
present ranking privilege A 3H
PACIFIC RAILROAD 8s9an3usf
would again call your attention to the con
struction of a Pacific Railroad limo and "a.
heehon have but served to confirm NE in the
truth and justice Of the observations which
made on the subject in my last annual mes.
sage, to which beg loare respectfully to re-
fer. E- ,..t'er -
1t is freely admitted that il would be inexne.
dent tor this government to exercise the power
OF constructing the Pacific Railroad by its own
immediate agents. Such policy would increas.
the patronage Of the executive to dangerous ex.
tent, and Introduce system ofjobbing and cor
ruption which no vigilance on the part Of feder
al officials could either prevent or detect This
can only be done by the keen oye, and active.
and neutrality-suspicious. of individual and private
interest. The construction Of this road ought,
therefore, to be committed to companies incor.
porated by State, or other agencies whose pecun-
larry interests would be directly involved. Con-
gress mlght then assist them in the work bv