The Bedford gazette. [volume] (Bedford, Pa.) 1805-current, 1860-01-06

the purpose oi reducing them stal lower, II 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 approprlating lands or money
SO that ii any OF these shoald Inadvertently pas:
both Houses, as must sometimes be the ease,
may afford them an opportunity for reconsider
alton at the same time we ought aeYe. to tor
get that true public economy consists, not in
withholding the means neceSSary TO accomplish
important national objects conided 10 ) by The
Constitution but 10 taking care that the mon
ey appropriated Tor these purposes shall be faith
iuiIy and ilugally expended IL will appear
from the report OF the Secretary OF the Treasn-
ry, that it IS extremely doubtful, to say the
least, Whether we shall be able to pass through
the present and the next fiscal year ithout ad-
dtional revenue. This can only be accom-
plshed bv strictly conGning The APPROXIMATIONS
within the estimates OF the different departments
without making an allowance for ar,y addition
al expenditures, which Congress may think
proper in their discretion to authorize. and
without providing for the redemption OF any
portion of the $50, 100000 of tire asury notes
which have been already issued in the evert
OF Deficiency, which | consider probable. this
ought never to be supplied by resort TO addi-
iona lQans.
1t would be a ruinous practice in the DAYS of
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 Tx,
existence Of war should render it NECESSARY 70
borrow money. Should such deficiency &C
cur as | appreheEd, would recommend that
the necessary revenue be raised by an increase
OF our present duties on imports. | need not
repeat the opinions expressed 10 my last annual
message as to the best mode and manner OF ac-
comprising this object, and shall now merely
observe that these have since undergone no
change.
The report of the Secretary Of the Treasury
will explain il detail the operations of that De-
Partment OF the Government.
Tae receipts INTO the treasury from all sour
ceS during the fiscal year ending 30lb June.
1859, tncluding the loan authorized by the act
of i4lh June, 1898, and the issue of treasury
notes authorized by existing laws. were eirhiy-
one million SIX hundred and uiarty-two thou
sand four hundred and seventY-one dollars and
one cent, (38l, ,692, ,fu OIL which sum with
the baIauce oil six million three hundred and
nInely-eight thousand three hundred and SIX
teen dollars and ten cents, SO, ,398,3l6 IO) re-
naming 10 the treasury at the commencement Mt
OF that fiscal year, made an aggregate for the
service ofthe year of eighty-eight million nine
tY thousand seven hundred and eightv-seven
dollars and eleven cents 1888, 900, ,787 i'll
The public expenditures during the fiscal
year ending 30th June, 1859, amounted to
eigbly-thFee million seven hundred and f!ty-
one thousand five hundred and eleven dollars
and ftty-seven cents, 1888, ,75I,5II 593 OF
this sum seventeen million four hundred and
bye thousand two hundred and eighty-five dol
lars and fortEiour cents, (SI7,I05, ,285 Al
were applied to the payment 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 6s-
cal year were therefore sixty-aix million three
hundred aud lory-slX thousand two hundred
twenty-sIx dollars and thirteen cents, tS66,
3+6, ,226 l3l
The balance remaining in the treasury on
the ls July, 1889, being the commencement
OF the present fiscal year, was four million
three hundred and thlriy-nine thousand two
hundred and seventy-five dollars and fny-tour
cents t$+,339, ,275 54)
~ ANNN ipAS t4AO tilG treasury curing flP
first quarter Of the present fiscal wear, COM
mencIng July lst, 1889 were twenty million
SIX hundred and eighteen thousand eight hun
dred and slxty-dve dollars and eizhty-hve cents
/ tS2O, 6lS,s65 So Ofthis amount. three mil
| hon eight hundred and ,Wpntv-o0a thousand
three hundred dollars lS3,82l.3J0 was re-,
ceIved on account Of the loan an8 the issue d
treasury notes.-the amount Of sixteen million
seven hundred and nIaetv-sevpn thou>,p3 fys
hundred and siyly-five dollars ana pi-bfv-tiys
! cents, (Sl6,79 800 So having been received
during the quarter from the ordinary sources OF
Puoilc revenue. The estimated recsipts for the
remaining three quarters Of the present fiscal
year to Both June, 1860, are fifty million four
huudFed and twenty-siX thousand four hundred
dollars, 500, ,426, ,400) Or this amount II Is
| estimated that five million seven hundgpd and
| hhy-SlX thousand four hundred dollars l5,756.
HUI Will be received for Treasury notes which
may be re-ssued under the fifth section of the
act OF 3d March last, and one million one hum
dred aud seventy thousand dollars lSlI70 OOOl
on account Of the loan authorized by the act oi
June IA, lS3S-making SIX million nine hpn-
urea ana twenty-SiX thousand four hundred dol
'd'S t9o,9-o,400) from these extraordinary
| sources, and forty three million ive hundred
thousand dollars l$+3, ,O00) from the otdi-
nary sources Of the public revenue-making an
aggregate, with the balance in the Treasury on
The lst July, 1889, of segentY,fve million three
hundred and eighty-iour thousand fye hundred
and iorty-one dollars and eighty-nine cents.
- 'o,3S8,54l S9) for the estimated means Of
the present fiscal year ending Both of June.
1860.
Inc expenditures during the first quarter OF
Tue present fiscai year were twenty million sew
en- thousand one hundred and seventy-four dol
lars Ia and seVenty-six cents, ($20,007, III rs }