Worcester daily spy. [volume] (Worcester [Mass.]) 1850-1888, 1858-06-03
TBt 9allp Spg,
THURSDAY, JUNE 3, 1888.
sesa.or Wilson on .he National Ri

movements
Saturday, May %, of Senator Wilson's resolu
tion. taking the initiative for much needed
refrm in the expenditures and financial opera
tions Of the government, which have been suffer
ed to run at such loose ends during the past few
years. BY this resolution, which we are glad to
see looked upon with such favor by all parties in
the Senate, rejecting, as the suggestion does
such eminent credit upon the mover, the Secreta-
~ Of the Treasury is requested to report to the
Senate specific estimates for. and the reform ILL.,
the expenditures for the several branches of the
public service, and also what efforts have been
made, and by whom, since March, 1851, to re-
strain the government to economical expenditure
of the public money, and what haze been the re-
suits of those efforts. The latter inquiries, par
iicularly, are appropriate, because the enormous
ly increasing excess of expenditure of revenues
renders it important for the people to know
whether the government has done its dutysto
wards preventing the present sad condition of the
treasury The main facts of the matter are thus
succinctly given by the Washington correspond
ent Of the New York Courier and Enqurtr;
"when the existing administration came INTO
Office the surSus in the Treasury twenty
SIX millonS OF QOllaFS. Dy kne emu OF tndt Hecal
year this balance had been reduced to seventeen
millions and traction. That sum was reduced
in December last to zero, since which sixteen
millions of debt has BEEN created. and four mil
lions more will be incurred in June next The
aggregate deficiency occurring within sixteen
months then is in round numbers, SAC, 900 900
forty six millions OF dollars! The estimated
deficiency on the six month"; following June 80,
1858, is SIS 900 900, which appears to ind cate
expected permanent deficit of S30,OO0,OOu
year
It must be admitted on all hands that such q
state Of things as this demands thorough and can
did Investigation. 1t is incumbent upon the ad-
minstration to furnish Congress with all the in
formation in its power not merely its estimates
and plans for the future, but precisely what it
has done in the way Of retrenrhment.
No great faith, it is true, can be entertained
that the administration will respond to this mat
ter in the spirtand terms proposed yet it is we'll
the opportunity has been offered, and that too,
through the suggestion and fundamentally of
our indefatgable senator, that if Congress
gr ,nts the asked for fifteen million dollars it may
not be our fault if the people are deprived of
knowing where the money goes, as well as where
millions which have been already swamped BY the
present administration. have gone to.
Senator Wilson followed up this matter by
timely aud excellent speech, on the Monday fol
lowing, MAY q, } which we should ere this have
laid before readers, had it not been for press
of room. We give a.few extracts, showing the
present dilapidated condition of the Treasury:
When President Buchanan came into power.
he commenced the fiscal year with SIS 100000 in
in the Treasury He has collected from all
sources about $4,000, 0O0 or, rather he has coll
lected the first quarter S2l 900 600 the next 81.
00O000 the third quarter $4,000 900, and it is es-
timated that the last quarter will be IS 900 600,
making $4,000, 900 to be added to the Sl8,0u0,-
900, amounting to 1852, 100000. We have borrow
ed S20.O90,000 by Treasury notes, which makes
$50 100000 the resources of the administration
for the present year. The senator from Virginia,
the Chairman of the Committee on Finance, es-
Inmates, if understood him, that the receipts for
the year will amount to 1856, 1000 900, and the
expenditures to S8j 900 900. which will leave
balance in the Treasury of 100000.
Now, we are told by the Secretary of the Treas
ury, that at the commencement of the next fiscal
year the $40 900 900 of Treasury notes will be ex
ka.--s-a, snaT Oegn the nsCai year with.
out any money, or with only an insignificant sum
in the Treasury. The annual expenditures of
this administration exceed the expenditures of
the last administi alton. exclusive Of the public
debt more than 800 900 900. The last admins.
tration added Sl5 900, 600 to the average annual
expenses ef the c"uniry, and the present admin
istration adds $50 100000 annually ouer the last
administration, which the whole country believed
to be an extravagant administration.
-
Now, let us see where we are We have this
year used up the Sl8,000,000 of surplus in the
Treasury with sNhich we commenced the year
we have raised 1900 900, and we have borrow.
ed $4,000 600, making total of SS2 900, 900, all
Of which We have spent. We commence the LIST
Of July next, according to the admissions of the
Secretary OF the Treasury, without any money in
the Treasury. He estimates, in his annual re-
pfrt, that are to have imports to the extent of
S37I 100000 next year, and that we are to raise
upon those imports $50 800 600, and receive from
public lands S5.000,000, and from all sources to-
gether S75, 1000 600; and he estimates the ex-
penditures at $4,000. 600. He will fall short of
his revenue from customs the coming year more
than twenty million dollars. Instead Of receiv.
ing seventy 1--WE millions in revenue, his receipts
will not go beyond fifty five millions. What
amount have we to meet next wear The esti-
mates of the Department amounts to S75 000,-
OO0, and il the expenditures do not exceed that
sum By additions made BY Congress, you have to
add to that $50, 600 900 of floating Treasury
note', which We have to pay next tyear, amount
ing to S95, 100000 l understood that PROPOSE.
tons are before Congress, likely to pass, that will
add several million dollars to the expenditures
Suppose they be $50 900 000-and do not be.
lieve they will fall short of that sum- for Con.
gress will add four five millions to the est.
mates-and add to that $50 .0O0, 900 Of Treasury
notes, snd you have TO provide for Rl00 600 900
next year. There is 5000 900 to provide for,
according to your own showing, and at least
800 600 900 BY all reasonable aud proper esti.
mates. One hundred million dollars! One hun.
dred million dollaTsl One hundred million dol
lars 10 be paid during the next fiscal year To
meet that vast sum you have only a revenue,
from all sources, OF from fifty to iltyfve millions,
making deficit of torty-hve millions for 1859.
Now,how are you tn meet this Sl00,000 900? The
Secretary tells US he will have TO pay S37 ,000,.
QUO in the first six months, and that the income
for the first half Of the year will not be S37 000,.
000. as estimated in December last but SIS, 000,-
600. He is getting to be little rational on this
question Of the receipts. He wants SIS 900 900
70 carry the government though the first bali Of
the next year-not the whole year. Now, sir,
these Sl5 600 600 will not carry him 70 January.
next Sir, make the prediction here now, and
wish senators 20 remember the prediction. that
we shall be called upon when meet in Decem.
Der next TO provide means to carry the govern
ment through December and over the lst of jan
nary And this call will be pressed upon us with
all the power Of Immediate snd overwhelming me-
cessity. II is inevitable, on the showing Of the
Treasury Department itself, that the government
cannot go beyond the LIST Of January next. If Il
can 60 that day, with the aid Of this Sl5, 100000
The SEARCH OF AMERICAN VESSELS TO BE
SToPPED.-The war fever will now probably col
lapse as suddenly as 1t lrose, as the latest in
telligence BY telegraph from Washington briggs