American Lancaster gazette. [volume] (Lancaster, Ohio) 1855-1860, 1860-01-05

Transporting troops, munitions OF war. and
necessary supplies for the army across the vast
intervening plains TO our possessions on the
Pacific coast would be greater in such war
than the whole amoant required to construct
the road. And yet this resort would, after all
be inadequate for their defence and protection
We have yet scarcely recovered from the
habits Of extravagant expenditure, produced
by an oveTfowing Treasury, during several
years priort the commencement OF my admin
istraton. The financial reverses which We
have since experienced ought to teach us all
10 scrute nze our expenditures with the great
est vigilance, and 10 reduce them to the lowest
possible point. The Executive Departments
Of the Government have devoted themselves
10 the accomplishment of this object with con-
siderable success, as will appear from their
different reports and estimates. To these |
invite the scrutiny Of Congress for the purpose
OF reducing them still lower, il this be pract-
cable, consistent with the great public interests
OF the country. In aid Of the policy of re-
tTenchment, pledge myself 10 examine close.
ly the bills approprlating lands or money, so
that il any Of those should inadvertently pass
both Houses, as must some times be the case,
may afford them an opportunity for reconsd.
Grafton a. me same time we ought never tofot.
get ths' public economy consists not in with
holding the means necessary 10 accomplish i'm
portant national objects confded to US by the
Constitution, but in taking care that the mon.
ey appropriated for these purposes shall be
faithfully and frugally expended.
II will appear from the report Of the Secre.
tary Of the Treasury, that it is extremely doubt.
full, TO say The least, whether we shall be able
10 pass through the present and next fiscal
year, without providing additional revenue.-
This can only be accomplished by strictly con-
lining the appropriations within the estimates
Of the different Departments, without making
an allowance for any additional expenditures
which Congress may think proper, in their dis
cretion TO authorize, and without providing for
the redemption OF any portion Of the twenty
millions OF dollars OF Treasury notes which
have been already issued. In the event OF
deficiency. which consider probable, this
ought never TO I've supplied by q resort to addi-
tional loans. 1t would be a Iunous practice
in the days OF peace and prosperity to go on in
cressng 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 it necessary TO borrow money.
Should such adefciency occur as apprehendi
would recommend that the necessary reve-
nue. be raised by an increase OF our present
duties on imports. need not repeat the opin.
ion expressed in my last annual message as to
the best mode and manner OF accomplishing
this object, and shall.now merely observe that
these have since undergone no change.
| The report Of the Secretary Of the Treasury
will explain in detail the operations oil that De-
| partment Of the Government.
The receipts into the Treasuryfrom all sourc.
es during the fiscal year ending June 80, 1859,
Including the loan authorized by the act Of
June IA, 1858, and the issue OF treasury notes
authorized by the existing laws, were eighty,
one million six hundred and ninety-two thon>
sand four hundred and seventysone dollars and
one cent, (9i,692,47l 0l,) which sum, with
the balance of the million three hundred and
ninetyseight thousand three hundred and
sixteen dollars and ten cents, (6,398,3l6 10y
remaining in the Treasury at the commence,
ment OF that fiscal year, made an aggregate for
the service of the year Of eighty. eight millions
ninety thousand seven hundred snd eightys
seven dollars and eleven cents, ,(88, 900, 787 ~
The public expenditures during the fiscal
year ending 30th June, 1859, amounted TO
eighty,three million seven hundred and ffty-
one thousand five hundred and eleven dollars
and fifty seven cents, )83, ,5ll 57.) OF
this sum seventeen million four hundred and
FIVE thousand two hundred and eighty>fye
dollars and ioIty'four cents u7,405, 1856 AZ
were applied TO the payment Of interest on the
public debt and the redemption Of the issue
OF treaty notes. The expenditures for oil oths
er branches OF the public service during that
fiscal year were therefore sixty'six million
three hundred and forty>Six thousand two huns
dred and twenty,six dollars and thirteen cents
| [66, ,346, ,226 1871
! The balance remaining in The treasury on
The lst July, 1859, being the commencement
OF the present fiscal year, was four million
three hundred and thirty"nine thousand Two
hundred and seventy five dollars and 6tySfOur
cents (4,339,275 SAL
| The receipts into the TreasuYlduring the
nrst quarter Of the present fiscal year, COM
mencing July /, 1859, were twenty millions
six hundred and eighteen thousand eight hun
dred and sixty fve dollars and eighty-fve
cents, (20, ,6l8, ,865, ,85.) OF this amount three
million eight hundred and twenty one thous,
and three hundred dollars was received on &C.
count OF the loan and the issue Of treasury
notes.-the amount OF $l6,797, 1868 65 having
been received during the quarter from the or,
Gnary sources OF the public revenue. The
estimated receipts for the remaining three
quarters of the present fiscal year 10 30th
June. 1860, are $50, ,426 400. or this amount
1t is estimated that s5, 766, 400 will be received
for treasury notes which may be reissued un-
der The fifth section of the act OF Sd March
last, and 81, 900 on account OF the loan
authorized by the act Of June IA, l858-ma-
king S6,026, 400 from these extraordinary sour,
ces, y $l3, 5000, 900 from the ordinary sources
sl.l Il.
! withthe balance in the treasury on the LIST Ju.
", 1859, Of 15,34e,64l so for the estimated
means OF the present fiscal year ending 30ll
June, 1860.
The expenditures Of the first quarter of the
fiscal year were twenty millions seven thouS-
and one hundred and seventy four dollars and
seventy six cents. $40, 0,007,lH 76l -Four
millions six hundred aud sixty four thousand
three hundred and sixty foH dollars and sew
eniy six cents, 81, ,664 1854 I6 OF this sum were
applied to the payment Of the interest on the
public debt and the redemption Of The issues Of
treasuTy notes, and the remainder being ar
teen millions three hundred and forty two
thousand eight hundred snd eight dollars
Slb, ,342 1903, we're applied to ordinary eXpen
dltures during the quartet The estimated
expenditures during the remaining three quar-.
| Nuiot W JuHC OVb lobop io'tl HlHt
hundred and ninety five thousand FIVE hun
dred and forty eight dollars and twenty three
cents, Si0, ,995,54S %. OF which sum two
million eight bundled and eighty six Thousand
six hundred aud twenty one dollars and thirty
four cents, S2,ss6,62l 81, are estimated 70
interest on the public debt. The ascerlainet
and estimated expenditures for the fiscal yea
ending June 80, 1860, on account OF the pub
ho debt, are, accordingly, seven million hv,
hundred and fifty thousand nine hundred ant
eighty eight dollars and ten cents, 7,6509, 81
10 dollars; and for the ordinary expenditures
ofthe government fifty three million four hun
dTed and fifty one thousand seven hundre,
and forty four dollars and eighty nine cents
S5S, ,49i, ,sa4 80, making an Oggregate Of sixt'
one million two thousand seven hundred
and thirty two dollars and ninety nine
cents, '&6l, ,002. 1872 90; leaving an eslma
mAia1 Iva in iha iTaaeuFv nf m ha anti