, 1860-02-03


Of Federal Ofcials could prevent. The construction
OF this road ought therefore be entrusted 10 incor
pOrated companies, other agencies, who would e1-
ercise that active and Vigilant superVision over
which can be supplied alone by Of corporate
and individual interest venture to assert that the
additional cost OF Transporting troops munitions OF
war and necessary supplies for the army, across the
vast intervening plains TO possessions on the Pa
cic. would be greater in such q war than the whole
amount required to construct the road and yet this
resort would after all be inadequate for their defense
and protection. 90 ....... yrr., . -fr
THK FINANCIAL CONDITION or THE COUNTY,.
We have yet scarcely recovered from the habits OF
eKtFAFAgant expenditure produced by OVERLOOKING
treasury during several years prior to the commence
ment Of my Administration! The financial reVeTses
which we have since experienced ought to teach us
all 10 scrutinize our expenditures with the greatest
vigilance, and reduce them TO the lowest possible
point. The Executive Departments OF the Govern
ment have devoted themselves TO the Accomplishment
Of this object with considerable success, As will ap-
pear from their different reports and estimates. To
these invite the scrutiny Of Congress for the pur-
pose VI reducing them still lower II this be pTactiea-
bly, consistent with the great public interests Of the
country. ....- iH. ..r..r
In aid Of the policy or retrenchment, pledge my
self to examine oloseyhe bills appFoprating land
money 80 that i any OF these should Inadvertently
pass both Houses, IS mnst sometimes be the case ]
may afford them the opportunity for reconsideration.
At the time ought never to forget that true
pnblie economy consists in not Withholding the means
necessary accomplish important uALOuh OlltCLst
conded to us by the Consultation but in taking
that the moneS appropriated for these purposes shall
be faithfully and frugaIy expended. ....-
1t will appear from the report OF the Secretary or
the Treasury that II ia extremely doubtful 10 say the
least, whether we shall be able To pass through the
present and the next fiscal year without providing ad.
ditona revenue. This can only be accomplished hy
strictly combining the appropriations within the esti
mates OF the different departments without making
allowance for any additional expenditures Of which
Congress may think proper in their discretion TO au
thoFGe without providing for the redemption Of any
portion Of the twenty million dollars OF Treasury notes
which have been already issued in The event Of de-
hcisncy, which consider probable. This ought new
er to be supplied by resort to additional loans. II
would be runous practice, In the days peace and
prosperity to 60 on increasing the national debt to
meet the ordinary expenses Of the Government This
policy, would cripple our resources, and impair our
credit In case the exStenre OF war eboud render II
necessary 10 borrow money Should such deficiency
occur, as .Apprehended would recommend that the
necessary revenue be raised by increase Of preser
dutiea imports. need not repeat the opinions eX-
pressed 10 my last Annual Message to the best mode
and manner Of accomplishing this object and shall
now merely observe that these have since undergone
The Report Of the Secretary Of the Treasury will
explain In detail the operations Of that Department Of
the Government The receipts into the Treasury from
all sources during the fiscal year ending 30th June,
1859 including the loan authorized BY the Act Of l4h
January 1855 and the issue Of Treasury notes author
lied by existing laws, were t8l 692 Al OIL which sum
with the balance Of S6,398,3l6 10 remaining In the
Treasury at the commencement Of this fiscal year,
make an aggregate Tor service for the year Of $685.
090, ,7S7 II.
The public expenditure during the fiscal year ending
30th June, 1852 amounted to $50 ,75l5ll 80. .H.@
or this sum tl7 405 ass ~ were applied 70 the pay
ment Of interest on the public debt and the redemp-
ton Of the issues Of Treasury notes The expendi-
lures for all other branches Of the public service dur
ing that FISCAL year were therefore s66 226 Is
The balance remaining In the Treasury on the lst
July 1859, being the commencement Of the present
fiscal year, was $l,339 275 81, ...-....
The receipts into the Treasury during the first quar-.
ter Of the present fiscal year, commencing July LIST,
Ofthis amount IS s2i 800 was received on account
Of the loan and the issue Of Treasury notes, the
amount Of SIG IS having been received during
the quarter from the ordinary sources Of public reVs-
The estimated receipts for the remaining three quar-
ters Of the present fiscal year to 30th June 1862
$50 420 100. OF this amount It Is estimated that IS
756 400 will be receipted for by Treasury notes which
may be ressued under the 5th section Of the act Of
Sd March LAST and 81 l70 900 account OF the loan
authorized by the act Of June l4th, ls6s-makng
Sc 926 400 from these extraordinary sources and S4s
100000 fum the ordinary sources Of the public reye-
nue.; making an aggregate with the balance in the
Treasury on lst July 1852 Of SIS SS454l 50 for the
estimated means Of the present fiscal year, ending
30th June, 1860. s.". tt' n'"l ~.
The expenditures during the first quarter Of tho
present fiscal year were $40 ,O07 ,174 70, r. ...
1864 366 76 Of this SUM was applied to the pay.
ment Of interest the public debt and the remainder
tl5 322 sos Wa1 applied to the ordinary expenditures
The estimated expenditures during the remaining
three quarters to June 3Oth 1860 are $40 55s 35
Of which sum $2ss6,62l "a are estimated for the in
The ascertancd and estimated expenditures for the
fiscal year ending 3Oth June, lS6O on account OF the
public debt, are accordingly, 81 y5509S5 l0 and for
the ordinary expenditure OF the government s5S 45l !
744 S9-making aggregate Of t0O2 ,T32 0O leav-
ing estimated balance in tho Treasury the S0th
June 1860, Of $l4 3sl sos 20. ''N
The estimated receipts during the next fiscal year
ending 30th June, 1860 are s76, ,22j 900, which, with
the balance estimated as before stated as remaining
in the Treasury 3Oth Jnne, 1860, will make an ag-
gegete for the service Of the next fiscal year Of $50
LOG sos 40.
The Estimated expenditures during the next fiscal
year ending SOth June, 1891 are $50 ,97s TO- OF
this amount 50 1856 62l 81 will be required 10 pay the
interest the public debt, leaving the sum Of SOS
32s 307 IS for the estimated ordinary expenses during
the fiscal year ending June SOth, 1851. Upon these
estimates, balance will be left in the Treasury the
30th June 1861 Of $l3 ,S79 6l. But this balance
well that estimated TO remain in the Treasury on
the lst July 1850, viii be reduced by such appropra.
tons shall be made by law 10 carry into effect Ger,
tain Indian treaties during the present fiscal year
asked for BY the Secretary of the Interior, to the
amount Of $3.50 $50; and upon the estimates OF the
Postmaster General for the service Of bis department
during the last fiscal year. ending 30th June, 1889
amounting to 81 296 900 together with the further es
innate Of that officer for the service Of the present
iiaca year, ending SOth June being IS SIG ,32k-ma-
king an aggregate Of slO. .36l ,6S3. INIT
Should these appropriations be made as requested
by the proper Departments the balance IN the Treas
ury the SOth o. June 1860, will not it is estimated
exceed S3530,l96 81.
transmit herewith the reports Of the Secretaries Of
War Of the Navy. Of the Interior and OF the PostmAs
ter General. They each contain valuable information
and important recommendations well worthy Of the
serious consideration Of Congress. '
II will appear, from the report OF the Secretary oi
War that the army expenditures have been materially
reduced, by a system OF rigid economy, which in biz
opinion offers every guarantee that the reduction viii
be permanent The estimates Of the department for
the next year have been reduced nearly 81 900 900 be-
low the estimates for the present fiscal year and
100000 below the amount granted for this year, At
the last session Of Congress. '.'
The expenditures Of the Post Ohice Department dI.
ring the past fiscal year, ending on the Both June
1859 exclusive OF payments for mail service specially
provided by Congress out Of the General Treasury
amounted TO s4, .493 SS, and lis reeeipts u
81 ,n6s .494 07showing a deficiency to be supplied
from tho Treasury Of sc 996 0O9 26, against IS 235
GIT Is for the year ending 3Oth June, 1858
The increased cost Of transportation growing out Of
the expansion Of the service required by Congress
explains this rapid augmentation Of the expenditures
1t Is gratifying however N observe an increase OF ne
ceipts for the year ending 9Oth June 1853, equal "a
s4SI SOL 81 compared With those Of the wear sndn5
10 L. a.. a. y =