Fayetteville observer. [volume] (Fayetteville, Tenn.) 1850-1966, 1858-01-07

OF Seyehty-I0ur milton nine hundred
and sixty-three thousand fifsy-eight
dollars and forty-one cents, (S74,963,-
05S Al Weaving an estimated balance
in the treasury at the close of the
present fiscal year Of four hundled
and twenty-six thousand eight hun
Idred and soventy-fivel dollars and
lsixty-scpen cents, {s426.S75 67.)
The amount of The public debt
at the commencement Of the present
fiscal year was twenty-nine millions
sixty thousand three hundred and
eighty-six dollars and ninety cents
! (S29,060,386 90)
The amount redeemed since the
first of July way three millions eight
hundred and ninety five thousand two
hundred and thirty-tvo dollars and
thirty-ninc cents, $3.50, 232 S9)-
balance unredeemed at this time of
twenty-five million one hundred and
sixty-fve thousand one hundred and
|fifty-four dollars and ffty-one cents
l(S25, 165,l54 Sd
The amount of estimated expen-
ditures for the remaining three-quar-
| tiers of the present fiscal year, will
in all probability be increased from
the cause set forth in the report of
the Secretary. His suggestions,
therefore. that authority should be
given to supply any temporary
deficiency by the issue Of a limited
amount Of treasury notes, is APP
proves, and I accordingly recon-
mend the passage Of such law.
AS stated in the report Of the
Secretary. the tariff Of March 8
1887, has been in operation for Sc
short a period Of time, and under
circumstances SO unfayorable to d
Just development Of its results as i
revenue measure, that should re.
gard it as inexpedient, at least fol
the present, to undertake its revis.
ion.
/ transmit herewith the reports
made to me by the Secretaries Of
War and the Navy, of the interior
and of the Posi- master General. =
They all contain valuable and i'm
portant information and suggestions
which commend toiEe favorable con.
sideration of Congress.
| have already recommended the
raising Of four addition al regiments
and the report Of the Secretary oil
War presenting strong reasons prov
ing this increase of the army, under
existing cumstances, to be indis-
ipensable. l would cali the special at.
tention Of Congress to the recommen-
dation of the Secretary of the Navy
in favor of the construction of ten
small war steamers Of light draught
For some years the government has
been obliged, on many occasions, to
hire such steamers from individuals
to supply its pressing wants. tthe
present moment we have no armed
vessels in the Navy which can pen.
citrate the rivers Of China. We have
but few which can enter any Of the
harbors south Of Norfolk, although
many millions Of foreign and domes-
tic commerce annually pass in and
out Of these halbors. Some Of oul
most valuable interests and most
vulnerable points are thus left ex-
1posed.
This class of vessels, of light
draught, great speed, and heavy
guns, would be formidable in coast
defence. The cost Of their construc-
ton will not be great, and they will
require bet a comp ratiyely small
expenditure to keep them in COM
mission. In time OF peace they will
prove rs effective as much larger
vessels, ard often more useful. Ore
tof them should be at every station
where we maintain a squadron, and
three or four should be constantly on
our Atlantic and Pacific coasts
Economy, utility, and efficiency COM
bine to recommend them as almost
indispensable. Ten Of these small
vessels would be Of incalcula5le
advantage to the naval service, and
the whole coast Of their construction
would not exceed two million three
hundred thousand dollars, or $780,
600 each. az
The report Of the Secretary Of
Of the Interior is worthy of grave
consideration. 1t treats of the nu-
merous, important and diversified
branches Of domestic administration
inirosted to him by law. Among
these the most prominent axe the
puAlic lands and our relations with