Holmes County Republican. [volume] (Millersburg, Holmes County, Ohio) 1856-1865, 1858-12-16

apainst frauds upon the revenue, In WHICH every
consumer is directly interested.
I have thrown out these suggestions as the
fruit of nv own observation. to which Congress.
in their better Judgment, will give such weight
as they may justly deserve.
The report of the Secretary Of the Treasury
will explain in detail the operations of tba. de-
partment Of the government. The receipts in
To the Treasury from all sources during the fis-
cal year ending 30th June, 1855, including the
treasury notes authorized by the act of Deem
Der %, 1857, were seventy million two hundred
and sevenIy-three thousand eight hundred and
sixty-nine dollars and ffty-nine cents, (S70,-
213yS69 59) which amount, with the balance
of seventeen million seven hundred and ten
thousand one hundred and fourteen dollars and
twenty seven cents (Sl7, ,7l0,ll4 27) remaining
In the treasury ut the commencement ofthe year.
made an aggregate for the service Of the year of
eighty-seven million nine hundred and eighty
three thousand nine hundred and eighty-three
dollars and eghty-six cents. (Ss7 ,9e3.Se3 s6.)
The public expenditure during the fiscal year
ending June 30, 1855, amounted to eighty-One
million five hundred and eighty-fiye thousand
six hundred and sixty-seven dollars and seven
ty-six cents. (SSl ,5S5,667 76,) of which nine
million six hundred and eighty-four thousand
five hundred and thirty seven dollars and nine
ty-nine cents ($9,6S4,537 99) were applied to
the payment OF the public debt, and the re-
demption of treasury notes with the interest
thereon, leaving the treasury on July L. 1858, be-
ing the commencement of the present fiscal
year, six million three hundred and ninety
eight thousand three hundred and sixteen dol
lars and ten cents, ($6, ,398 ,3l6 l0.)
The receipts into the treasury. during the
first quarter of the present fiscal year, COM
mencing the lst July, 1858, including oue-half
of the loan of twenty millions of dollars, with
the premium upon ii. authorized by the act of
l4th June, 1855, were twenty-five million two
hundred and thirty thousand eight hundred and
seventy mine dollars and forty-s cents, (25,-
230,879 Al, and the estimated receipts for the
remaining three quarters to the Both June, 1883,
from ordinary sources, thiriy-eight million five
hundred thousand dollars, <$26 500. .000,) max
ing, with the balance before stated. an aggregate
of seventy million one hundred and twenty
nine thousand one hundred and ninety five dol
lars and fifty-six cents, $50 ,l95 56.)
The expenditures, dur1ng the first quarter of
the present fiscal year, were twenty zone mil
lion seven hundred and eight thousand one
hundred and ninety dollars and fifty
cents. ($2l, ,70S, ,19o 51:) of which one million
and ten thousand one hundred and forty-two
dollars and thirty-seven cents ($l .0l0,l42 By
were applied to the payment Of the public debt
and the redemption OF treasury notes and the
interest thereon. The estimated expenditures,
during the remaining three quarters to the Both
June, 1853, are fffy-t o million three hundred
and fiity-seven thousand six hundred and nine
ty-eight dollars and forty -eight cents, (S52,-
357, ,6Jo 4S, making an aggregate of eventy-
four million sixty thousand eight hundred
and ninety-six dollars and ninety-nine cents,
(S74 1886 99,) being an excess Of expendi-
ture, beyond the estimated receipts into the
treasury from ordinary sources. during the fis-
cal year to the Both June, 1859. OF three mil
lion nine hundred and one dollars and FORTY
three cents, ($3,936,70l 43.) Extraordinary
means are placed by law within the command
of the Secretary of the Treasury, by the reissue
of treasury notes redeemed, and by negotia-
ting the balance of the loan authorized by the
act of 18th June, 1858, to the extent, of eleven
millions of dollars. which, if realized during
the present fiscal year, will leave balance in
the treasury, on the first day of July, 1859, of
seven millions sixty-three thousand two hun
dred and ninety EIGHT dollars and ffty-seven
CENTS, ($7,063 236 81.
The estimated receipts during the next fiscal
year ending 30th June, 1860, are sixty-two mil
lions of dollars, ($62, 100000, which, with Tie
above estimated balance of seven million sixty
ty three thousand Two hundred and ninety
eight dollars and ffty-sevep cents. ($7, $685. .29S
81 make an aggregate for the service of the
three thousand two hundred and ninety y-eight
dollars and fifty y-cents, ($69, ,063 29S SD The
estimated expenditures during the next fiscal
year ending 30th June, 1860, are seventy three
million one hundred and thirty mine thousand
one hundred and forty dollars and forty
six cents. 3.l39, 48 46.) which leave deficit
of estimated means, compared with the estIma-
ted expenditures for that year, commencing on
the LIST of July, 1853, of four millions and sew
enty-fve thousand eight hundred and forty
eight dollars and eighty-nine cents, ,040
S9.)
In addition to this sum, the Postmaster Gen
eral will require from the treasury, for the SER
vice of the Pest Office Department, three mil
lion eight hundred and thirty-eight Thousand
seven hundred and twenty-eight dollars, ($3,-
3S,72o.) rs explained in the report of the Sc
cretary of the Treasury, which will increase
the estimated deficit on the Both June, 1850, to
seven millions nine hundred and fourteen thou
sand five hundred and seventy-six dollars and
eighty nine cents, ($7.9l4,576 69.) To oprovide
for tine payment OF this estimated deficiency,
which will be increased by such appropriations
as may he made by Congress, not estimated fol
in the report of the Treasury department, rs
well as to 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 presert tariff as
will 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 and additional loan, and would therefore
strongly urge upon Congress the duty of max
ing, ct their present session, the necessary pro-
yison for meeting these liabilities.
The public debt on the lst July, 1858. the
commencement of the present fiscal year, was
S25. .l55,977 66. !
During the first quarter of the present year,
the sum of $l0,000.000 has been been negotia-
ted of the loan authorized by the act of 18th
June. l656-making the present public debt,
exclusive of treasury notes. $35I55.977 Co.
There was on the lst of July. 1853, of treasury
notes issued by authority of the act of Deem
ber, o. 1851, unrsdeemed, the sum of $l9.754.-
the amount of actual Indebtedness,
at that date. $549l0,777 &c. To this will be
added $l0,0OOO00 during the present fiscaI
year-this being the remaining half the loan OF
20.0OO,O00 not yet negotiated.
The rapid increase Of the public debt. and
the necessity which exists for {: modification of
the tariff, TO meet even the ordinary expenses Of
the government. ought to admonish Us all. in
our respective spheres of duty. to the pra,tice
of rigid economy. The objects of expenditure
should be limited in number, as far as this may
be practicable, and the appropriations necessary
to carry them into effect. ought to be disbursed
under the strietest accountability. Enlighten-
ed economy does not consist in the refusal to ap-
propriate money for constitutional purposes, es-
senfial to the defence. progress. and prosperity
of the republic, but in taking care that none Of
this money shall be wasted by mismanagement.
in its application to the objects designated by
law.
Comparisons between the annual expenditures
at the present time, and what it was ten or twen-
ty years ago, are altogether fallacious. The
rapid increase of our country of expenditure, to
some extent, unavoidable. This is constantly
creating new objects in entent and population, rem
ders corresponding increase of expenditure, and
augmenting the amount required forthe old The