Green-Mountain freeman. [volume] (Montpelier, Vt.) 1844-1884, 1860-01-05

road. And yet this resort would, after all, be
inadequate for their defence and protection.
We have yet scarcely recovered from the hab-
its Of extravaganza expenditure, produced by
our OVERLOOKING Treasury, during several years
prior to the commencement oil my admlnislra-
ton. The financial reVerses which we have
since experienced ought to teach us all to scru-
tnize our expenditures with the greatest vigil
snce and to reduce them to the lowest possible
point. The Executive Departments OF the Gov
eminent have devoted themselves to the accom-
pIishment of this object with considerable suc-
cess as will appear from their reports and es-
Inmates. TO these invite the scrutiny OF Con-
gress, for the purpose of reducing them still
lower, if this be practicable, consistent with
the great public interests of the country.
In aid of the policy of retrenchment, pledge
myself to examine closely the bills appropriate
ing lands or money, 50 that if any OF these
shauld Inadvertently pass both houses, as must
sometimes be the the case, may afford them
on opportunity for reconsideration. AT the
sann time, we ought never to forget that true
public economy consists, not In withholding The
means necessary to accomplish important ma
tlona objects coufded to us by the Constitution
but in taking care that the money appropriated
for these purposes shall be faithfully and fru-
gally expended
1t will appear from the report Of the Secre-
tary of the Treasury that it is extremely doubt
lul, to say the least, whether we shall be able
to pass through the present and the next fiscal
year without providing additional revenue
This can only be accomplished by strictly con-
timing the appropriations within the estimates
of the different departments without making
an allowance for any additional expenditures
which Congress may think proper, in theiI
discretion, to authorize, and without providing
for the redemption of any portion of the $780,
600 600 of Treasury notes which have been al
ready issued. In the event Of deficiency, which
consider probable, this ought never to be sup
piled by a resort to additional loans.
1t would be a ruinous practice in the day of
peace and prosperity to go 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
existence of war should render 1t necessary to
borrow money. Should such deficiency occur
as apprphend, would recommend the neces
sary revenue be raised by an increase of our
present duties on imports, | need not repeat
The opinions expressed in my last annual mes
sage as to the hest mode and manner of accom-.
plishdg this object, and shall now merely OBJ
serve that these have since undergone no
change
The Report of the Secretary of the Treasury
will explain in detail the operations of that de-
partmcnt of the government.
The receipts of the treasury from al sources
during the fiscal year ending Both June 1859,
Ipc fbo hu Of
18th June, 1858, and the issues OF treasury
notes authorized by existing laws. were eighty
one uillions six hundred and ninety-two thou
sand four hundred and seventy one dollars and
one cent 1881 ,692, All 0l) which sum with the
balance of six million three hundred and ninety
eight thousand three hundred and sixteen dol
lars and ten cents $6,398. 3l6 10Y, remaining
in the treasury al the commencement of that
f,cal year, made an aggregate for the service of
the year of lightweight million ninety thousand
seven hundred and eighty-seven dollars and
eleven cents ($88, O9O,789 lD.
The public expenditures during the year
ending Goth June, 1859, amounted to eighty
three millions seven hundred and fffty-one
thousand five hundred and eleven dollars and
fifty seven cents (8375l 5ll 81. OF this sum
seventeen millions four hundred and five thou
sand two hundred and eighty five dollars and
iorty-four cents N ACE, 1886 44), were applied
to the payment of interest on the public debt,
and the redemption of the issues of the treas
ury notes. The expenditures for all the other
branches of the public service during that ifs
aal year were therefore sixty-six millions three
hundred and iorty-six thousand two hundred
end twenty-six dollars and thirteen cents $780,
BAG, 226 49,
The balance remaining in the treasury on the
LIST July, 1859, being the commencement Of the
present fiscal year, was four million three hun
dred and thirty-nine thousand two hundred and
seVcnty-fye dollars and fity-lour cents a, $780,
ATS SAY
The receipts into the treasury during the
first quarter OF the present fiscal year, commence
ing July l, 1859, were twenty million six hun
dred and eighteen thousand eight hundred
and sixty-ive dollars and eighty-seven cents
$3.50, 6l8 865 81 Of this amount three mil
lion eight hundred and twenty-one thousand
three hundred dollars ($5 1921 ,30O) WAS received
on account of the loan and issue Of treasury
notes.-the amount of sixteen million seven
hundred and ninety even thousand five hun
dred sixty-fve dollars and eighty-five cents
($l6. 797 sos 85) having been received during
the quarter from the ordinary sources of public
revenue. The estimated receipts for the re-
naming three-quarters of the present fiscal
year to Both June 1860, are fifty million four
hundred and twenty-six thousand four hundred
dollars $3.50, 426 ,4OO).
OF this amount, it is estimated that five mil
lion seven hundred and ffty-six thousand four
hundred dollars ($5,756 ,400) will be received
for treasury notes. which may be reissued under
the fifth section of the act OF Sd March last,
and one million one hundred and seventy thou
sard dollars ($ll70,000) on account of the
loan authorized by the act of June IA, 1853
making six million nine hundred and twenty.