Mineral Point tribune. [volume] (Mineral Point, Wis.) 1854-1858, 1858-12-21


Fartment of the Government. The receipts in
to the Treasury from all sources during the fis-
cal year ending June 3Oth, 1858, including the
treasury notes authorized by the act of Decem-
Der 23d, 1857, We're SO. o.273 s69,5 SO, which am
cunt. with the balance of SI71I01i42S re-
naming in the Treasury at the commencement
of the ye;tr made an aggregate for the service
OF Tie year Of Ss7, 7,9s3, ,9e3s6.
The public expenditures during the fiscal
year ending June 30th, 1858 amounted to SSI :
S5667,76, of which, S96S4 ,537 80 were srs,lied
TO the payment of public debt, and the redemp-
tion OF treasury notes with the interest thereon,
leaving IN the Treasury, on July lst, 1888 be-
ing the commencement of the present fiscal
year. S6.39S. .316l0
/ he receipts into Treasury the first quarter OF
The present fiscal year, comnlcrcipg the lst Of
July, 1858, including one half he loan of twen-
~ millions of dollars with the premium aron it,
authorized by the act of tie 18th Of June 1868,
were S25,230,S97,1 ,16, and the estimated receipts
1of The remaining three quarters, to the 30lh OF
June, 1889 from ordinary sources, are S3S 500,
0O0 making, with the balance, before stated an
aggregate of S70,i29 l0f Sc.
The expenditures during the first quarter Of
the present fiscal year. S21, ,40S, l9S, 81, Of
winch 81 ,UlU, 1887 were applied to the pay
ment OF the public debt and the redemption of
treasury notes and the interest thereon. The
estimated expenditures during the remaining
three quarters, TO the 30th of June. 1859. are
S32357 69S,19, making an aggregate of S74,-
Oeo S9b.96. beng an excess of expenditures, be-
yond the estimated receipts INTO the Treasury
from ordinary sources. during the fiscal year 10
II Z Both Of June, 1859. of S3935,70l ,33. Extra
ordinary means are placed by law within the
hands of the Secretary Of the Treasury, by the
reissue OF Treasury notes redeemed, and by
NJ Cgotiating the balance of the loan authorized
10y the act of the l4'h Of June, 1888. to the ex-
tent of four millions Of dollars, which, if real
lied during the present fiscal year, will leave a
balance in the Treasury, on tie 1st day Of july.
1859, of s. ,063 29S 81.
The estimated receipts during the next fiscal
year, ending 30ib of June 1860, are So 100000,
which. with the above estimated balance of ST.
063 29e.5 The estimated expenditures during
the next fiscal year. ending June 30ih. 1850 are
S13,lS9147. .46, which leave a deficit of es,imat-
ed means. compared with the estimated exVen-
ditures for that wear commencing on tie Ist Of
July, 1883, of 81 675,o5s,e9.
In addition to this sum. tie Post master Cen
eral will require from the Treasury, for the SER
vice of the Post Office Department. S3,s3S, ,728,
explained in the report Of the Secretary of
the Treasury, which viii increase tie estimated
deficIt on the :0th of June 1860 to sS79I4.576S SO
To provide for the payment of the estimated de-
ficiencv. which Will be increased bv such ap-
preparations as may be made by Congress, and
estimated in the report of the Treasury Depart
ment, as to provide for the gradual redernI lion,
from wear TO year, cf The outstanding Treasury
notes the Secretary of the Treasury recommends
such n revision Of the present tariff rs will raise
the required amount. After what | have al
ready said, ] need scarcely add that | concur la
in tie opinion expressed in his rep rt-tbat the
public debt should not he increased by an ad-
ditional loan. and would therefore s'rongly urge
upon Congress the duty Of making at t'ler
present session he necessary provision for
meeting these liabilities.
The public debt on the lst Of July, 1888, the
Of I no yyas
S24,l IS. .977 81.
During the first quarter of the present year
the of ten millions has been negotiated OF
tie loan authorized hv tie act Of I4th Of June
lS5S-nakIHg the present outstanding public
debts. exclusive OF Treasury notes. S25, 5.917,-
sc. There was, on The lst of july, 1858, ot
Treasury notes Issued by authority Of lie act ot
Dec %, 1857. unrcdeemed the sum of ssl9754 =
eC9-makirg the amount Of actual indebted
ness at that date S549707776 To This viii
he added Sl00O0tC0 during tie present fiscal
year-this being the remaining half OF the lean
Of 500 Geo eco not Yet negotiated.
The rapid increase Of The public debt, and the
necessity which exists for modification of the
tariff. 20 meet even the ordinary expenses of the
Government. ought to admonish all, in our
respective spheres Of duty, TO the practice Of
rigid economy. The objects Of expenditure
Should he limited in numt er, as far as tlis may
be practicable, and the appropriations noCess@-
" to carry them into efeci ought To be distrib-
utcd under the striCtest accountability. En-
licltened economy docs not consist in tie refu-
sal to appropriate money for cor stituticnal yur
Toses essential to the defence. progress and
prosperity uf tie republic. hut in :Gking care
that none Of This money shall be wasted by mis-
management, in its application 10 tie objects
designated by law.
Comparisons between tie annual expenditure
at the present time and what it ten or
twenty ycars ago are altogether fallacious Tie
rapid increase of our country IN extent aud pop
ulation, renders 4 corresponding Increase OF ex-
renditure. to some extent. unavoidable. This
Is constantly creating new objects OF exrendI-
ture and augmeniiug The amount required for
tie old The true questions, then, are, have
these objects then been unnecessarily multi
piled or has tie amount expended upon any
all Of Ilcm teen larger than cCmf oris with
due economy? In accordance with ilese prIn-
ciplcs, tie heads Of The different executive de-
rartments Of the government have been instruct
cd TO reduce their estimates fer the next fiscal
year to tie lowest standard consistent with the
efficiency Of the service. and this duty tcN
have rgrfo~mcd in spirit of Just econon Y. Tie
estimates OF the Treasury, " ar, Navy, and In
terrier. Departments, have each been In some de-
gree reduced and unless 4 sudden and unfor-
seen emergency should arise, Ii Is not anticlpa-
ted that deficiency will exist either within the
present or the next fiscal year. The Post Office
Is placed IN a peculiar condition, different from
the other departments, and to this | shall here
after refer.
invite Congress to Institute "A rigid scrutiny
10 ascertain wletl or tie expenses in all the de-
partnerlts cannot be still further reduced and
/ plCnise them all the aid IN my power IN pur-
suing tie Investigation.
The pFpAnTMENTs.
| transmit herewith the reports made TO me
hv tie Secretaries q FAR, Of the Navy. of the
Interior. and OF the Postmaster Generil. They
each contain valuable information and lmpor
tant recouu endatioas, to which ! invite the at
teutIon Of Congress
In my last annual message l took occasion to
recommend Tie immediate construction OF ten
small steamers. light drauglt, for The purpose
Of increasing the efficiency OF the navy Con
aress RESPONDED to the Teeommendalen by au-
fhoriziug The construction of eight Of thcm- be
progress Which las been made in executing this
autlorItv j. stated III the report 81 the Secretary
of the Navv ! concur with hum IN tie opIn-
ion that a greater number Of ;his class of yes
sells is necessary for tie puTPose OF protecting
in a more efficient manner the persons and
~ar.a asV,f is4 h IN