Fremont journal. [volume] (Fremont, Sandusky County [Ohio]) 1853-1866, 1860-01-04


fewer By any other means I ttpsat The
oplnlon contalne In my last aenpel Massage,
that Il would BE- iaexpsdiont f1r ihs Govern
ment 10 undertake this great work hy agents
of iis own appolnlment and under its direct
and exclusive tdnl1tl This would increase
tho patronage of the Executive 70 dangerous
extent, and would foster a system Of iobbing
and corruption which no Vigilance on the part
Of federal officials could prevent The con-
struction Of this road ought therefore, 10 be
entrusted 70 incorporated companies OF other
ae6k6fts, &h6 WOO Ia exercise that activefend
tikflAnt sdpeftfsfon over Il whichr can be in-
spired alone by sense Of corporats and in
Glltidaal fntelt1i.r,si irxenturo % . Hsert that
the additional cost OF transporting iroops,m mu-
nitions Of war, and necessary SUPPLIES FOR the
army across the vast intervening plains 10
our POSSESSIONS on the Pacific east, would be
greater ii such war than the whole amount
, required 10 construct the road. And yet this
resort would, affer all, be inadequate for their
defence and protection.
- We have yet scarcely recovered from the
habits Of extrayagant expenditure, produced
! by our oyerfowing Treasury, during several
years prior 70 the commencement of my Ad-
ministration. The financial reverses which
ne have since experienced ought to teach us
all 10 scrutiniae our expenditures with the
kreatest yigilance, and TO reduce them to the
lowest possible point The Executive Depart
inents of ihe Government have all devoted
themselves to the accomplishment Of this OBJ
iect with considerable success, as will appear
from their different reports and estimates
70 these invite the scrutiny Of Congress, 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
anime closely the bills apprcpriating lands or
money, 50 that If any Of these should mad
yertently pass both houses, as must some
times be the case, may afford them an OPP
portunity fo- reconsideration. At the same
time we ought never to forget that true pub
lie economy consists, not in Withholding the
means necessary to accomplish important ma
tional objects confided TO us by the Constitu-
tion, but in taking care that the money ap-
propriated for these purposes shall be faith
folly and frugally expended.
II viii appear from the report Of the Sec
reiary Of the Treasury that it was extremely
doubtful 10 say the least whether we shall
be able to pass through the present and the
next fiscal year without providing additional
revenue This con only be accomplished by
strictly confning the appropriations within
Tho estimates Of the different Departments
tional expenditures which Congress may
think proper, in their discretion, to authorize,
and without providing for the redemption of
ANY portion Of the $20000,000 of Treasury
notes which have been already issued. In
the event Of deficiency, which | consider
probable, this ought never to be supplied by
resort to additional loans. 1t would be a
Arunous 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 it necessary
to borrow money. Should such deficiency
occur rs I apprehend, would recommend the
necessary revenue be raised by an increase
of cur present duties on imports. l need not
repeat the opinions expressed in my last an
nual Message as to the best mode and manner
of accomplishing this object, and shall now
merely observe that these have undergone no
change.
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 Both
June, 1859, including the loan authorized by
the act Of 18th June, 1858, and the issues Of
treasury notes authorized by existing laws,
were eighty-one millions six hundred and
ninety-two thousand four hundred and sew
enty-one dollars and one cent 1881 ,692, All OH,
which sum, with the balance of six millions
three hundred and ninety-eight thousand
three hundred and sixteen dollars and ten
cents CSC, 1888 10y, remaining in the trea-
snry at the commencement Of that fiscal year,
made an aggregate for the service Of the year
of eighty eight millions ninety thousand sew
en- hundred and eighty-seven dollars and
eleven cents ($88 090,7 787 ~
Z. The public expenditure during the fiscal
year ending 30th June, 1869, amounted to
eighty-three millions seven hundred and fifty
one thousand five hundred and eleven dollars
and ffty-seven cents (S83, 75l, ,511 57) OF
this sum seventeen millions four hundred
and FIVE thousand two hundred and eighty
FIVE dollars and forty-four cents (S17, 4O5, ,285
a. were applied TO the payment of interest
on the public debt and the redemption of the
issues Of treasury notes The expenditures
for all the other branches Of the public SER
vice during that fiscal year were therefore
sixty-six million three hundred and forty-six
thousand two hundred and twenty-s six dollars
and thirteen cents ($66, ,946,226 1877.
The balance remaining in the treasury on
1st July, 1859, being the commencement of
the present fiscal year. was four million three
hundred and thirty-nine thousand two hun
dred and seveuty-fve dollars and ffty-four
centst So, $780, ,275 54.)
The receipts into the treasury during the
first quarter of the present fiscal year, COM
mencing July Let, 1S49, were twenty million
ak hundred and eighteen thousand eight hun
dred and sixty-fve dollars and eighty five
cents [$20, 1866 65.) or this amount three
million eight hundred and twenty-one thous-
H. 4 III
received on account Of the loan and the issue
Of treasury notes.-the amount Of sixteen mil
lion seven hundred and ninety-seven thous-
and FIVE hundred and sixty-fve dollars and
eighty-fve cents ($16, ,797, ,565 S5) having been
received during the quarter from the ordinary
sources VI public revenue. The estimated re-
ceipte for the remaing three quarters of the
present fiscal year TO Goth June, 1860, are
fifty million four hundred and twenty-six
thousand four hundred dollars $3.50, ,426, ,400)
OF this amount il is estimated that FIVE mil
Hons seven hundred and fifty-six thousand
four huncred dellars tS6, ,756, 400 will be re-
received for treasury notes which may be re-
issued under the fifth section Of the act Of Sd |
March last and one million one hundred and
sevsnty thousand dollars Isl, 170,000) on ac-
count Of the loan authorized by the act Of
june II, 1e58-making six million nine hun |
dred and twenty-six thousand four hundred
dollars tS6, ,926 400) from these extraordinary
sources; and forty-three million five hundred
thousend dollars ($4S 500,O00) from the Ordi- |
nary sources Of the public revenue-making
en aggregate, with the balance ia the tTeasu-
~ on the list July 1853, Of seventy-fvo mil |
lion three hundfed and eighty-four thousand
ave Hundred and forty Zone dollars and eighty
nine cents ($75, 1884, ,54E s9) for the estimated
means Of tho present fiscal year, ending s0th
Jnne, 1860.
The expenditures during the first quarter