The Union and journal. [volume] (Biddeford, Me.) 1858-1882, 1860-01-06

lower, TX THIS DC pfucttclDlc, couSsttnt NltHtnc
great public interests OF the country. In aid
9ftbe policy of retrenchment pledge myself
| 10 examine closely the bills appropriating lands
or money, so that ifany of these should inad-
ycrtently pass both houses, rs must sometimes
bc the case. / may afford them an opportunity
for reconsideration. At the same time, we
ought never To forget that true public economy
| consists not in Withholding the means nccessa-
nv 10 accomplish important national objects
con6ded TO us by the Constitution, but in
taking care that the money appropriated Tor
| these purposes shall be faithfully and .frugally
expended. ran. Ca.
IL will appear from the report OF the secrc-
tary of the Treasury that il is extremely doubt
| full, to say the least, whether we shail DC aple
| 10 pass through the present and the next fiscal
wear without providing additional revenue
This can only be accomplished by strictly con-
fninc the appropriations within the estimates
of the different departments, without making
an allowance for any additiona! expenuitures
which Congress may think proper, IN their als-
erection, to authorize, and without provid:ns
for the redemption of any portion oil 'he S-O;
| 600 900 of Treasury notes which have Deeh NJ
ready Issued. In the event of deficiency,
which consider probable, this ought never 10
| be supplied BY resort to additional loans III
would be q ruinous practice IN the dass vi
peace and prosperity 10 go on increasing tue
| national debt to meet the ordinary expenses OF
the government. This policy would cripple
| our resources and impair our credit III case 'hc
existence Of war should render 1T nee assary TO
borrow money. Should such dehjiehc! oc-
cur as apprChcnd, 6ould rcccoumcud that
the necessary revcnuebe raised by an increase OF
our present duties ON imports. need not re.
peat the opinions expressed in my last annual
message rs TO the best mode and manner OF ac-
cOmplishing 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 OF that de-
partment ofth government.
The receipts into the treasury from all SQUIRE
cs during the fiscal year ending 3Oth June,
1889, including the loan authorized by the act
of 18th June, 1853, and the issue of treasury
notes authorized by existing laws, were eighty
one millions six hundred and nincty-tEo thous-
and four hundred and scycntY-one dollars and
one cent (SSl ,602, All 0l), which sun, with the
balance of SIX millions three hundred and nine
ty eight thousand three hundred aud sixteen
dollars and ten cents ESQ $685. lO 10y remain
ing in the treasury at the commencement OF
that fiscal year, made an aggregate for the SER
vice of the year of oighty-cight millions ninety
thousand seven hundred aud eighty dol
lars and eleven cents (SSS, 900, 1871 lD.
The public expenditures during the fiscal
year ending 30th June, 1889, amounted to
cghty-thrcc million seven hundred and iitty-
one thousand five hundred and eleven dolllrs
and iiity-seycn cents ($S3,75l oil 5D. OF
this sum seventeen million four hundred and
five thousand two hundred and cighty-iiye dol
lars and iorty-f0ur cents (Sl7, 4Oj, 2S5li) were
applied to the payment OF interest on tho pub
lie debt and the redemption Of the issues Of
treasury notes. The expenditures for all the
other branches Of the public sery ice during that
fiscal year were therefore sixty-six million three
hundred and forty six thousand two hundred
and twenty SIX dollars and thirteen cents (SO0,
3iG, 22G l3).
The balance remaining in the treasury on the
LIST July, 1850, being the commencement OF the
present fiscal year, was fOuInilllon three hun.
drcd md thirty nine thousand two hundred and
sevcnty-fve dollars and htty-lour cents (s4 ,33o,
275 so.
The receipts into the treasury during the first
quarter of the present fiscal year, commencing
July /, 1859, were twenty million six hundred
and eighteen thousand eight hundred and sixty
five dollars and cighty-tivc cents, lS2o,Ols,-
SIS S5). 0fthis amount three million eight
hundred and twcnty-ono thousand three hun
drcd dollars (3,S2l. S0O) was received on ac-
count of the loan and the issue OF treasury
notes.-the amount Of sixteen million seven hun;
drcd and nincty.scyen thousand five hundred
and sxty-Gvc dollars and eighty-fiyc cents
(SlG, 797, 5G5 S5) having been received during
the quarter from the ordinary sources of pub
lie revenue. The estimated receipts for the re-
manning three-quarters Ofthc present fiscal year
to Both June, 1860, are iihy million four hun
dred and twenty-six thousand four hundred
dJllars, C 80, Az, 400 or this amount 1t IS
estimated that five million seven hundred and
iifty-six thousand four hundred dollars (S5,-
1855 ,i00) will be received for treasury notes
which may be re-issucd under the fifth section
of the act of Sd March last, and ono million one
hundred and seventy thousand dollars Isl ITO |
000) on account of the loan authorized By the |
act of June IL, lS5S-making six million nine |
hundred and twenty-six thousand four hundred
dollars (S6, 926 ,dOO) from these extraordinary
sources, and fOrty-threc million five hundred
thousand dollars (Si3, 50O,OOO) from the or
binary sources Of the public revenue-makinS
nm aggregate, with the balance in the treasury |
on the LIST July, 1859, of seycnty-iiye million
three hundred and eiglty-four thousand five
hundred and lurty-one dollars and cghty-ninc
cents (S7j ,3Si 81 S9) for the estimated means
of the present fiscal year, ending Both June,
1860.
The expenditures during the first quarter Of
tlc present fiscal year were twenty millions
seven thousand one hundred and seventy four
dollars and seycnty-six cents, O,OOI, lIi1O).
Four million six hundred and sxty-iour thou
seyCnty-six cents (S4,GGi ,3Ge 7d) of this sum
were applied to the payment Of interest on the
public debt and the redemption OF the issues OF
Treasury notes, and the remainder, being III
teen million three hundred and iorty-two thou
sand eight hundred and eight dollars (Slt,3i2,
S0S), were applied to ordinary expenses during
the quarter. The estimated expenditures dur
ing the remaining three quarters, to June 81
1850, are forty million nine hundred and nine
A. Al nV41
dollars and twcnty-three cents (SiO,0Oo, DOS
23). 0fwhch sum two million eight hundred
and eighty-six thousand Fix hundred and TWEEN
ty-one dollars and twenty-iour cents (s2,eSG,- |
G2l 24) are estimated for the interest OF the
public debt. The ascertaincd and estimated
expenditures for the fiscal year ending JUN
June, 1850, on account of the public debt, are,
accordingly, seven million five hundred ana
fifty thousand nine hundred and eighty-eight
dollars and ten cents, ~ $780, $50 10y; ana i)r
the ordinary expenditures of the government,
f(ty-threc million. four hundred and flty-Onc
thousand, seven hundred and forty four dol
lars and cighty-ninc cents, (S53, AL ,7ii eo),
making an aggregate of sixty-Onc million two
thousand seven hundred and thirty-two dol
lars and nincty-ninc cents, (SOl ,OO2,I32 Wy
leaving an estimated balance in the treasury
on the 30th June, 1870, of fourteen million
three Hundred and cigllty-onc thousand eight
hundred and eight dollars and forty cents
(Sli.3Sl sos 400
The estimated receipts during the next fiscal
year ending 30th June, 1861, are sixty.six mil,
lions two hundred and twenty-five thousand
dollars, (SGb, 225, 000,) which, with the Dali
ancc, estimated as before stated, as remaining
IN the Treasury on the 3Oth June, 1850, will
make an aggregate for the service OF ric next
fiscal year of eighty million six hundred and
six thousand eight hundred and eight dollars
and forty-cents, (SsO, COG, SOS i0.)
The estimated expenditures during the next
fiscal year ending 3Oth of June, 1861, arc sixty,
six million seven hundred and fourteen thousand