, 1858-01-22

vision might thus be made not only for the
safe, rapid, and economical transportation
CT troops and munitions Of war, but also Of
the public mails. The commercial inter
ests of the whole country, both East and
West, would be greatly promoted by such
road and above all, it would be a pow
erful bond Of union. And although ad-
vantages of this kind, whether postal,
commercial, or political, cannot confer cou-
stitutional power, yet they may furnish
auxiliary arguments in favor Of expeditiAg
work which. in my judgment, is clearly
embraced within the warmaking power
For these reasons | commend to the
friendly consideration of Congress the sub
ject Of the Pacific Railroad, without finally
committing myself to any particular route.
The report Of the Secretary Of the Treas
ury will furnish detailed statement of the
condition of the public finances, and the
respective brances Of the public service de-
volyed upon that department of the gov
ernment By this report it appears that
the amount Of revenue received from all
sources into the treasury during the fiscal
year ending the Both of June, 1851, was
sixty eight millions, six hundred and thirty
one thousand Eve hundred and thirteen
dollars and sixty-seven ceuts, 1868, 63l :
.5l3 67), which amount, with the balance
of nineteen millions nine hundred and one
thousands three hundred and twenty-five
dollars and forty-fve cents I9,90l ,325 45)
remaining in the treasury at the commence
ment Of the year, made an aggregate for
the service OF the year of eighty-eght mill
ion five hundred and thiriy-twO thousand
eight hundred and thirty-nine dollars and
twelve cents, (8s,532,S39 l2.)
The public expenditures for the fiscal
year ending Both June, 1851, amounted to
seventy million eight hundred and twenty.
two thousand seven hundred and twenty
four dollars and eighty-ive cents, $50, 1922.
724 3d. of which Eve million nine hundred
and forty-three thousand eight hundred and
ninety-six dollars and ninety.one cents,
t$5, 943,s96 9l,) were applied TO the re-
demption Of the public debt, including in
terest and premium, leaving in the treas
ury at the commencement OF the present
fiscal year on the LIST July, 1851, seventeen
million seven hundred and ten thousand one
hundred and fourteen dollars and twenty
seven cents, ($lI7lO,Il427.
The receipts into the treasury for the
FIRST quarter of the present fiscal year, com
mencing LIST July 1851, were twenty million
nine hundred and twenty-nine -thousand
eight hundred and nineteen dollars aid
oishty-one cents, $3.50, 929, ,sl9 81, and
the estimated receipts Of the remaining
three quarters to the Both June, 1858, are
thiriy-si& million seven hundred and fifty
thousand dollars 1886, $50, ,O0O,) making
with the balance before stated, an aggre
gate of seventy-6ye million three hundred
and eighty-nine thousand nine hundred and
thirty-four dollars and eight cents, (75,
3S9, ,934 0S,) for the services Of the pres
ent fiscal year.
The actual expenditures during the first
quarter OF the present fiscal year were
twenty-three million seven hundred and
fourteen thousand five hundred and twenty
eight dollars and thirty-seven cents, $23,
7l4,52S 37,) of which three million eight
hundred and ninety-five thousand two hun
dred and thirty-two dollars and tbirty-nin(
cents, ($3, ,S95 ,232 80, were applied to the
redemption of the public debt, including
interest and premium. The probable ex
penditures of the remaining three quarters
to the -30th June, 1858, are ffty-ore mil
lion two hundred and forty-eight thousant
five hundred and thirty dollars and foul
cents, 1851, ,24S, $50 Oh, including the in
terest on public debt, making an aggregate
Of seventy-four million nine hundred anC
sixty-;hree thousand fifty-eight dollars anC
forty-one cents, ($74, 1868, ,05s AL leaving
an estimated balance in the treasury at The
close Of the present fiscal year of four hun
dred and twenty-six thousand eight hun
dred and seventy-fye dollars and thirty
seven cents, ($426,s75 37)
The amount of the public debt at the
commencement Of the present fiscal yeal
was twenty-nine million sixty-thousanC
three hundred and eighty-six dollars anC
ninety cents, (29,O60,3S6 90.)
The amount redeemed since the lst q
July was three million eight hundred anC
ninety-iive thousand two hundred and thir
ty-two dollars and thirty-nine cents (S3,
S95, ,232 39)-leaving balance unredeem
ed at this time Of twenty-five million on'
hundred and sixty-fye thousand one hun
dred aud ffty-four dollars and ffty-ont
cents, Us, l65, l545l.)
Tue amount Of estimated expenditure
for the remaining three quarters of the pres
ent fiscal year will, in all probability, b
increased from the causes set forth in thu
report of the Secretary. His suggestion
therefore, that authority should be given t.
supply any temporary deficiency by the is
sue of limited amount of treasury notes
is approved, and accordingly recommend
the passaga of such law.
AS stated in the report of the Secretary
the tariff of March 3, 1857, has been ii
operation for so short period of time, anC
under circumstances so unfavorable to {
just development of its results as revenu,
measure, that l should regard it as inexpe
dent, at least for the present, to undertake