M'arthur Democrat. (McArthur, Vinton County, Ohio) 1853-1865, 1860-01-12


years prior to the commencement of my adj
The financial reverses which
we have since experienced ought TO teach us
oil TO scrutinize our expenditures with the
grestest vigilance, and TO reduce them to the
lowest possible point. The Executive De-
partment Of the Governments have devoted
themselves 10 the accomplishment Of this
object with considerable success, as willap-
pear from their different reports and esti-
mates. To these invite the scrutiny of
Congress, for The purpose OF red ucing them
still lower, II this be practicable, consistent
with the great public interests Of the coun-
try. In aid OF the policy OF relfenchment
pledge myself to examine closely the bills alp
propriatng lands or money, so that il any of
these should inadvertently pass both houses,
as must sometimes be the case. lmay afford
them an opportunity for consideration. At
the same lime we ought never TO forget that
true economy consists, not in withholding
the means necessary to accomplish import
ant national objects confided 10 us by the
Constitution, but in taking care that 1.-THE
money appropriated for these purposes shall
be faithfully and frusaIly expended.
II will appear from the report OF the Sec
relary of the Treasury, that it is extremely
doubtful, 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 confning the appropriations with
in the estimates Of the dilleren! Departments,
without making all allowance for any addi-s
tional expenditures which Congress may
II ink proper, in their discretion, TO author.
ize, and without providing for the redemp-r
ton OF any portion of the $4,000, 900 of
Treasury Gotes which have been already is
sued In the event Of a deficiency, which
consider probable, this ought never 10 be
supplied BY resort 20 additional loans. 1t
would be a uinous practice in the days of
peace and prosperity to go on increasing the
national debt to meet the ordinary expenses
of the Government. This policy would Grip
pie our resources and impair our credit in
case the existence of war should render 1t
necessary to borrow money. Should such
deficiency occur, apprehonl, I'would rec
olnmend that the necessary revenue be rais-
ed by al increase ut or present duties on
imports. ! need not repeatlIe opinions ex- ?
pressed in my last annual message as to the
best mode and mlnGet of accom- fishing this
object, and shall now merely o. serve that
these have since undergone no change. d.
The report Of the Secretary Of the Treasu-
ry 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. 1890, including the loan authorized by
the act Of l4th June, 1853, and the issues Of
treasury notes authorized by existing laws,
were eighty one million six hundred and
ninety.two thousand fouI hundred and sew
enty one dollars and one cent 1881 ,692, All
0l,) which sum with the balance of six mil
lion three hundred and ninety.eight thousand
three hundred and sixteen dollars and ten
cents C$6,S98,3 ,3l6 10y remaining in the treas
ury at the commencement of that fiscal year,
made an aggregate !or the service fthe year
of eighty eight million ninety thousand sew
en- hundred and cighty-seven dollars and
eleven cents (S8 ,090.7S7 ll)
The public expenditures during the fiscal
year ending Goth June, 1886, amounted to
eighty-three million seven hundred and fif-
ty-one thousand five hundred aud eleven
dollars and lilty-seven cents (Ss3,75l,5ll
67.) OF this sum seventeen million four
hundred and five thousand dollars two hun
dred and eighty five dollars and forty-iour
cents Q7,4O5. .285 44) wele applied to the
paymen: Of interest on the public debt and
the redemption of the issues OF treasury notes.
The expenditures for all other branches Of
the public service during that fiscal year
were therefore sixty-six million three hun
dred and lorty-six thousand two hundred and
twenty.six dollars and thirteen cents $780,
34,926 1877
The balance remaining in the treasury on
the lst of July, 1859, being the commence
ment orthe present fscal year, was four mil
lion three hundred and thirty.nin thousand
two hundred and seventy five dollars and fif-
ty four cents ga 339 ,275 54.)
The receipts into the Treasury during the
first quarter Of the present fiscal year, COM
mencing July lst 1889, were twenty million
six hundred and eighteen thousand eghl hun
dred and sixty-fve dollars and eighty five
cents go ,6l8, $685., Of this amount three
million eight hundred and twenty one thous..
and three hundred dollars 1881, ,S0J), was
received on account OF the loan and the issue
of Treasury notes.-the amount of sixteen
million seven hundred and ninety seven
thousand five hundred and sixty-6ve dollars
and eghty-fve cents (6,797,565 85), hav-
ing been received during the quarter from the
ordinary courses OF public revenue. The
estimated reeeiots for the remaining three
quarters of the present fiscal year to Both
June, 1860, are fifty million four hundred
and twpnty.six thousand four hundred dol
lars $3.50, ,426, ,4OO.)
OF this amount, it is estimated that five
million, seven hundred and fifty six thousand
four hundred dollars (S5,7o6,4OU will be
received for Treasury notes, which may be
re-issued under the fifth section of the act Of
the 3rd March last, and one million one hun
dred and seventy thousand dollars (S1, no.
O0O) on account OF the loan authorized by the
act of June Ia, lS5S-making six million
| nine hundred and twenty-six thousand four
hundred dollars CSC 926 ,4O0) from these ex-
traordinary sources, and !oyty-three million
five hundred thousand dollars (43,50O,000)
from the ordinary sources ef the public reve-
nue-making ali aggregate, with the balance
in the treasury or the lst July, 1859, OF sew
enty-fve million three hundred and eighty
four thousand five hundred and forty-one dol
lars and eighty line cent (S75 ,3S4.64l 89(
for the estimated means Of the present fiscal
year ending Both June, 1850. '-
The expenditures during the first quarter