The Jeffersonian. [volume] (Stroudsburg, Pa.) 1853-1911, 1858-08-05
nal renort. to be Sl65S6. .5SS. 35,

to over SIOO ,000,O00 although no doubt
balance corresponding to that brought
forward FROM the last, will remain unex-
pended at the close Of the present year.
The receipts for the first three quar-
ters of the fiscal year ending June 80,
1853, exclusive of the sums obtained by
the issue oftreasury notes, were $50, O2o,-
OI3.l6. Tue expenditures for the same
period were S5s, 854, ,e97.1S If We estl
IN mate the expenditures and receipts of the
fourth ouarter at a SUN equal to those OF
! the third, the result would be as follows
Expenditures, s76,s54 .s97.la; recepss.
S44. OPS, ,Ol316,--a dehcit of over S3O,-
0O0. 600 in single year. The only pres.
eut remedy for this distressing condition
of the National Finances -loans-has
been freely resorted 20. During the third
and fourth quarters $40 600, 600 of treas
ury notes were issued, and there is little
doubt that the Government will require
/ the whole Of the new loan authorized by
Congress. The importance of this sub
iect will inevitably secure for it the close
attention of the whole country at an early
i day, and earnest endeavors will be made
to devise method of pqualizing the ma
tional receipts and disbursements, either
by increasing the former or diminishing
the latter, or probably by aiming to do
both. 1t is true that, within the past
month or two, there have been come indi-
|. cations Of revival in business, and aD
d increase is the receipts from customs, but
D the weekly statements show a constant
dimunitIon in the treasury balance, save
= when j; in repleuished by loans, and near
ly two dollars arc expended for every one
received. Unless very remarkable I'm
provement takes place before the next
session of Congress, a modification Of the
9 Tariff will become inc vitable, and the dis
: cusson of the details of such an import
! ant measure will no doubt enter largely
into its proceedings. We hope that in
' this struggle Pennsylvania Interests will
t receive the attention they deserve
!. The facts herein set forth sufficiently
e indicate that something must be done to
; increase the Federal revenues at the ear.
liest moment; and IN taking this unavoid-
e able remedial step, it is no les clear that
n the most liberal encouragement should be
n extended TO American industry. Not on
: ly is the Government rushing into bank
= ruptcy, with no hope Of speedy change
o for the better by the natural course of
c vents, but in every part of our State and
: country labor is unemployed, and almost
i, IN despair.
:
!. a recent visit to the interior Of Penn
sylvania has convinced US that the worst
c accounts Of destitutioD among the sous oil
!, toll have not been exaggerated. The
: best hands can be bad at fifty cents day
in the harvest field, and those who last
J.. year easily earned a dollar and half pei
2 diem are now glad to work for one third
!. the amount Meanwhile, 10 the depart
n ments of skilled labor everything is dull
i Manufacturers are compelled to reduce
t. their force or to suspend operations EN-
n tirely. Furnaces are closed, forges stanc
i It'll, the coal trade is stagnated, 4 genor
. al apathy prevails. Those who have capi
tai refuse to invest it until something il
i done to s:im mulate business. Those whC
4 have no capital are in the gre atess uncer
taiuty as to the future.
We do not stop to canvass the causes
J. of this conditin of things. The necessit,
: is imminent and immediate, and shoulc
e lie met by instant action. We know tha
D the theory of individual enterprise, in al
e such cases as the present, is generally th'
u best. GoVernDente xpeCtnor be ex
IS pcctep to provide every man livelihood
J. But an extreme and exceptional case lik'
;. the present requires exceptional and Wig
n orous action. Our people have passed
). through year of unexampled suffering
J. Great fortunes have melted away in al
i hour, and the rich man of yesterday is to
day abjeet and poor. A system of th
b most stringent economy has failed to re
j. lieve the public distress. Millions are il
@ need of work (and thai is brcad) who bav,
}. always been economical and never waste
full. There seems to US but one way t.
awaken the dormant energies of our peo
is pie and to 1aicken the sluggish vitaitie.
if of ftrade. The Government wants money
! to conduct its operations and to pay it'
i debts Let this be raised by such rev
d nue. law as will extend the amplest en-
d couragement to manufactures, and thu,
e attract capital once more from its hidinl
!. places, aud feed the thousands who a
!. this moment barely contrive to exc out
miserable existence. 1t is to be regret
ed that the President did not, last De
cember, anticipate the present extraordi
Ii nary condition of the public finances BY
reiteratiug in bis message his cherished
: views on tho general subject Of incidenta
It protection; but the time is at hand wher
J action is demanded by the people, nc
= ought to be, and will be, granted by thei
: sefyants.-PreSS
New York Market.