Arkansas true Democrat., 1858-07-06
Message of the President-The Adjourn
 ment-State of the Treasury.
T6 tie Senate and House of Rep,eseototjyes.

To tie Senate and House of Representatives:
 feel it to be an indispensable duty to call vour attention to the condition of the treasury. On the 18th day of May last the secretary of the treasury submitted report to Congress Ion 1 the present condition of the finances Of the go vernment. In this report he states that. after call upon the heads of departments, he had re. ceived official information that the sum of s37. | OO0OOO would probably be required during the first two quarters of the nexl fiscal year. from the fist of July until the first of Januarv.- This sum-" the secretary savs," does not in ciude such amounts as may be appropriated by Congress and above the estimates submit ted to them by the departments, and have no data on which to estimate for such expenditures. Upon this point Congress is better able to form a correct opiion than am'
 | The secretary then estimates that the receipts into the treasury from all sources, between the list of July and the 1st of January. would amount to S25.OOO,00O, leaving deficit of Sl50UOOOO, inclusive Of the sum of about S3,- UOOOO, the least amount required to be in the treasury at all times to secure It's successful ope- ration. For this amount he recommends d loan. This loan, it will he observed. was required, af- ter a close calculation, to met the estimates from he different departments and not such ap- preparations as might be made by Congress over and above these estimates.
 There were embraced in this sum of S15.- OOo,ND estimates to the amount of about Sl,- 100000 for the three volunteer regiments au- thorz"d by the act of Congress approved A prl :, 1858; for two of which, if nos for the third no appropriation will now be required. To this extent a portion of the loan of S15,OOOOO0 may be applied to pay the appropriations made by Congress beyond the estimates from the different departments referred to in the report of the secretary of the treasury
 To what extent probable deficiency may exist in the treasury between the Is, July and the 1st January next. cannot be ,scertained un- til the appropriation bills, we'll as the private bills containing appropriations, shall have final | ly passed.
 Adversity teaches useful lessons to nations as . we'll as to individuals The habits of extrava- gant expenditures fostered by large surpuls in the treasury must now be corrected or the coun- tv will be involved in serious financial diffi- culries
 Under any form of government, extravagance in expenditure must be the natural consequence. when those who authorize the expenditure feel no responsibility in providing the means of pav- ment. Such had been for number of years our condition previously to the great monetary revusion in the country. Fortunately, at least for the cause of public economy, the case is now reversed; and to the extent of the appropriations, whatever these may be- engrafted on the differ ent appropriation bills, as well as those made by private hlls over and above the estimates of the different departments, it will be necessary for Congress- to provide the means of payment before their adjournment. Without this, the t,a., L I January, and the puhlic credit will be seriously Impaired. This disgrace must not fall upon the country.
 Il iS impossible for me, how ever, to ascertain this amount; nor does there at present seem to be the least probability that this can be done. and the necessary means provided bv Congress to meet any q .Hciencv which may exist in the treasury before Monday next at l2 o'clock. the hour fixed for adjournment. it being now Satur- day morning at half past II o'clock. To ac- complish this object tie appropriation bills, as they shall have iraly passed Congress, must be before me. and time must be allowed to as- certain the amount of the money appropriated, and to enable Congress to provide the necessary means. At this writing it is understood that several of these bills are vet before the commit tee of onierence, and the amendments to some of them have rot even been printed.
 Foreseeing that such a state of things might exist at the close of the session, Istated in the annual message 10 Congress of December last. that " from the practice of Congress such an examination of each bill as the constitution re- quires has been rendered impossible" The important business of each session is generally crowded into it's last hours and the alternative presented to the President is either to violate the constitutional duty which he owes to the people, and approve bills which, for want of time, 1t IS impossible he should have examn- ed, or, by his refusal to do this subject the country and individuals to great loss and incon- venience.
 For my own part, have deliberately deter mined that shall approve no bills which l have not examined; and it will be a case of ex treme and most urgent necessity which shall ever induce me to depart from this rule.
 The present condition of the treasury abso- lutely requires that should adhere to this re- solution on the present occasion for the reasons which have heretofore presented.
 In former times, it was believed to be the true character of an appropriation bill simply to carry into effect existing laws and the estabish ed policy of the country. A practice has. how. ever. grown up of late years to engraft on such bills at the last honrs of the session large appro- pratons for new and important objects not pro- vlded for by pre-existing laws, and when no | time Is left to the executive for their exan,ina-