The Bedford gazette. [volume] (Bedford, Pa.) 1805-current, 1858-12-17

.SSt thousand three hundred and sixteen dollars
t,s .:5 A. ,sn cents, ($6, ,398,2l6 10l
'Dq rbo recepts into the treasury during the first
.ir,sr Of The present fiscal year commen-
qun-tbe 1st July 1888, Including one half OF
't.Io,o of twenty millions OF dollars with the
Y.niu-o ~" upon II. authorized by the act OF l4th
F,na 1887. were twenty FIVE millions two hun
y.sJ and thirty thousand eight hundred and sev-
Wv nine dollars and forty six cents, iS25 ,230
s-6 a6) and the estimated receipts for the re-
u.,oiog three quarters to the Both June 1859,
f,9m ordinary sources are thirty eight million
Gee hundred thousand dollars, ($38, ,500,000.)
a,.tinr with the balance before stated al aggre-
"ota ri seventy mili1n one hundred and twenty
SSine thousand one hundred and ninety FIVE dol
I,rsand fifty SIX cents $50, %, 1913 56.l
The expenditures, during the first quarter OF
tho present fiscal year were twenty one million
seven hundred and eight thousand one hundred
and ninety eight dollars, and hity-one cents,
E2I.70S,l98 5l.) OF which one million and
a75,sn thousand one hundred and forty two
dollars and thirty seven cents Il ,O1O,l l43 80
were opp!ied to the payment Of the public debt
and the redemption of Treasury notes aud the
,aterest thereon. The estimated expenditures:
during the three quarters to 30th June, 1899,
are fifty two million three hundred and fifty Sc
ven thousand six hundred and ninety eight dol
lars and forty eight cents, (S52 ,337,69S 49,
making an aggregate of seventy four million
sixty five thouSaOd eight hundred and ninety
SIX dollars and ninety nine cents, Is 4,Oo2,S9b
99,l being an excess of expenditure beyond the
estimated receipts into the treasury from ordi-
nsrv sources, during the fiscal year TO the 30;h
June, 1859, of three million nine hundred and
tbirly six thousand seven hundred aud one dol
4
Extraordinary means are placed by law within
the command OF the Secretary of the Treasury,
bv the reissue OF treasury notes redeemed, and
bv negotiating the balance OF the loan author
,;sd by the act of Ith June 1888 to the extent
Of eleven millions Of dollars which il realized
during the present fiscal year will leave a bal
aDce in tie treasury on the first day of July,
1889, OF seven million sixty three thousand Two
hundred and ninety eight dollars and ifty-seven
cents. 81, ,06l ,298 81
The estimated receipts during the next fiscal
wear ending 30lh June, 1860 are sixty two
millions Of dollars 1862 2,000,000,l which, with
above estimated balance Of seven million sixty
three thousand two hundred and ninety eight
dollars aud fifty seven cents, 81, ,598 57,l
making an aggregate for the service OF the next
fiscal year Of sixty nine million sixty three
thousand two hundred and ninety eight dollars
and fifty seven cents, 1859, ,063, ,29S,51.) The
estimated expenditures during the next fiscal
wear ending 33th June, 1860 are seventy three
millions one hundred and thirty nine thousand
one hundred and forty seven dollars and forty
six cents, 1913, SO, l47, 49, (which leave def
cit of estimated mans compared with the es-
lmated expenditures for that year commencing
on the lst of July, 1889, of four million and Sc
venty FIVE thousand eight hundred and forty
eight dollars and eighty nine cents, lSI,075,
S58 89.)
in addition to this sum the Post Master Gen
eral will require from ;he treasury for the SER
vice Of the Post Office D paItment three million
eight hundred thirty eight thousand seven
hundred and and twenty eight dollars, 1888,
1881 as explained in the report oil the Secreta-
~ Of the treasury, which will increase the esti-
mated deficit on the 30lh Of June 1860, TO Sc
ven million nine hundred and fourteen thous-
and five hundred. and fseventy six dollars and
eighty nine cents, (S7,9l4,576 SO j. To pro-
vide for the payment of this estimated defcen-
Cy which will be increased BY such appropria-
tons as may be made by Congress not estimated
for the report of the Treasury Department, as
we'll as 10 provide for the gradual redemption
from year to year Of the outstanding treasury
notes, the Secretary of the Treasury recon-
mends such a revision of the present tauf as
viii raise the required amount. After what
have already said, need scarcely add that
concur in the opinion expressed in his report
that the public debt should not be increased by
a0 additional loan aud would therefore strongly
urge upon Congress the duty Of making at their
present session the necessary provision for meet
ing these Liabilities.
The public debt on the lst ofJnly, 1888, the
commencement OF the present fiscal year, was
$25, ,977 66.
During the first quarter of the present year,
the sum OF S 100000 has been negotiated Of
the loan authorized o. the act Of l4th June,
lS58-making the present outstanding public
debt exclusive Of treasury notes, $50, ,l55,
977 &C. There was on the lst July, 1858, of
treasury notes issued by authority of the act Of
December %, 1857, unredeemed, the sum of
1874, ,S00-maklng the amount Of actull in
drbtedness at that date, S5+,9l0,777 SO. To
his would be added SI0,000.OOO during tie
present fiscal year this being the remaining
halt ofthe loan Of S20, 100000 not yet negotia-
ted.
The rapid increase the public debt, and the
necessity which exists for a modification OF the
tariff. 10 meet even the ordinary expenses oi
the government ought 10 admonish US all, in
our respective spheres of duty, to the practice
of rigid economy. The objects OF expenditure
should be limited in number, as TAR as his may
be practicable, and the appropriations necessary
10 carry them into effect ought to be dlsbursed
under the strictest accountability. Enlightened
economy does not consist in the refusal to APP
proPriaic money for constitutional purposes,
essential to the defence, progress, and prosPeri
y OF the republic, but in taking care that none
q this money shalt be wasted BY mismanage-