Staunton vindicator. [volume] (Staunton, Va.) 1860-1896, 1860-01-06

by the routes across tho Isthmus. still con-
vnced than of the vast Importance of this rail-
road. l have never doubted the constitutional
OF Congress to provide for its construc
ton, but this exclusively under the war making pow
err. Besides, the Constitution expressly requires
as an imperative duty, that sthe United States shall
protect each of them (the States) against INVASION
am at loss to see how this protection can be af-
forded to California and Oregon against such ma
val power by any other means. repeat the opinion
contained in my last annual message, that it would
be inexpedient for the Government to undertake
this great work by sagents ofi own appointment
and under its direct and exclusive control. This
would increase the patronage of the Executive to
dangerous extent and would foster system of job
bling and corruption which no vigilance on the part
of the federal officials could prevent The construction
of this road ought therefore, to be ntrusted to ncor
porated companies other agencies, who would ex-
ercse that active and vigiant supervision over it
which can be inspired alone by sense of corporate
and individual interest. venture to assert that the
additional cost of transporting troops, munitions OF
war, and necessary supplies for the army across the
vast intervening plains to possessions on the Pa
cifc coast would be greater in such war than the
whole amount required to construct the road. And
yet this resort would after all, be inadequate for
their defense and protection.
We have yet scarcely recovered from the habits of
extravagant expenditure, produced by our overflow
ing Treasury during several years prior to the com
mencement of my administration. The financial re-
verses which we have since experienced ought to
teach all to scrutinize our expenditures with the
greatest vigilance and to reduce them to the lowest
possible point The Executive Departments of the
Government have devoted themselves to the accom-
pshment of this object with considerable 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, if this be prac-
tcabe, consistent with the great public interests OF
the country. In aid Of the policy of retrenchment,
pledge myself to examine closely the bills appro-
priating lands money, that any these should
inadvertently pass both Houses, as must sometimes
be the case,I may afford them an opafrfunitv fir
reconsideration at the same time we oughS q E,
to forget thai public economy consist ~
withholding sae means necessarr &c 7cce.As ls
,ne.tant nati0p Il objects cpp,teQ to by the Con
5utution, but III taking care that the money appro-
priated for these purposes shall be faithfully and ru
galy expended.
1t will appear from the report of the Secretary of
the Treasury that it is extremely doubtful say the
least, whether shall be able to pass through the
present and the next fiscal year without providing adj
ditiona revenue. This can only be accomplished by
strictly combining the appropriations within the esti
mates OF the different Departments, without making
an allowance for any additional expenditures which
Congress may think proper in their discretion, to
of any portion Of the $50 900 of Treasury notes
which have been already issued. In the event of
deficiency, which | consider probable, this ought
never to be supplied by resort to additional loans
1t would be ruinous practice in the days of peace
and prosperity to go on increasing national debt
to meet the ordinary expenses OF the Government
This policy would eris,le our resources and impair
our creot Ia case the existence of war should render
10 nerssssary to borrow MONEY. Should such deh-
, cheney occur, as | apprehend, would recommend
that the necessary revenue be raised by an
of our present duties on imports. need not repeal
the opinions expressed in my last animal message as
| to the best mode and manner of accomplishing this
|
since undergone no change.
The report of the Secretary Of the Treasury will
explain in detail the operations of that department
of the government.
The receipts into the Treasury from all sources
during the fiscal year ending 30th June, 1859, nclu-
ding the loan authorized by the act of 18th June,
1885, and the issues of treasury notes authorized BY
existing laws, eighty-one million six hundred
| and ninety-tWo thousand four hundred and seventy
one dollars and one cent, ($sl 1922, All OIL which
sum- with the balance of six million three hundred
dollars and ten cents Csc, 1913, 3l6 1917 remaining il
the treasury at the commencement of the fiscal year
made an aggregate for the service of the year 0
eighty eight million ninety thousand seven hundred
and eghtyseven dollars and eleven cents, ($8S, O90,
1871 ll.)
The public expenditures during the fiscal veal
ending the 30th June 1859, amounted to eighty
million seven hundred and ffty-one thousand fy
hundred and eleven dollars and ifty-seyen cents
($63, Isl, 5ll SD Of this sum seventeen million fou
hundred and five thousand two hundred and eighty
five dollars and forty-four cents, ($17, 405 285 A
were applied to the payment of interest on the pubic
debt and the redemption of the issues of treasury
notes. The expenditures for all other branches o
the public service during the fiscal year were there
fore Sixty-six million three hundred and forty-si'
thousand two hundred and twenty-sx dollars ant
thirteen cents 1856, SAG, 226 49,
The balance. remaining in the treasury on the Is
July, 1855, being the commencement Of the prese a
fiscal year, ou' million three hundred and thir ty
zine thousand two hundred and seyenty-hve do nar
and hftv-fOur cents lS4 .SS92 75 b4.)
The receipts into The treasury du,ins s. 1.al
ter OF the present fiscal year, Commencing July Isl
! 1899, were twenty million six hundred End eightee
thousand eight hundred and sixty-fv dollars an
eighty-ive cents, $50 6lS, 1865 $50 Of this amour
three million eight hundred ana TWEEN thousan
three hundred dollars ($3, S2l 300, was received
account Of the loan and the issue Of treasury notes.
the amount of sixteen million seven hundred an
ninety thousand five hundred and xty-fv
dollars and eightyfve cents ($l6, 1917 ,565 85) hay
ing been received during the quarter from the ord
cepts for the remaining three quarters of the presen
fiscal year to the 30th june 1861 fifty Milo
four hundred and twenty-six thousand four hundre
dollars ($50, 426, 400 Of this amount it is estima
ted that tive million seven hundred and fifty six thou
sand four hundred dollars ($5, 556, 4O0) will be re
ceived for treasury notes which may be ressued un
der the fifth section of the act of Sd of March last
and one million one hundred and seventy thousan
dollars ISL TO- OOO) on account of the loan author
lied by the act of June IA, 1558-making six million
nine hundred and twenty-six thousand four hundret
uOHafS (S6 9Z6 4UO) from these extraordinary sour
ces, and fortythree million five hundred thousan.
dollars ($43, $780, 00O) from the ordinary sources
the public revenue-making aggregate wi tn tn
balance in the treasury the LIST Of July, 1859, G
seventy five million three hundred and eighty fou
| thousand five hundred and forty -one dollars an
eighty cents ESTE. 54l S9) for the estimated
means OF the present fiscal year ending 3Otb June
1860.
The expenditures during the first Quarter of tn
present fiscal year twenty mill on seven thou
sand one hundred and seventy-four dollars and sew
enty-six cents, (S20,O07, TIA 76.) Four million 81,
hundred and sixty-four thousand three hundred an
sixty-six dollars and seventys,M cents of this sun
were applied to the payment of interest on the pub
lie debt and the redemption of the issues of treasu
ry notes. and the remainder being fifteen million
three hundred and fort y-two thousand eight hun
drod and eight dollars ($15 ,342, $685. applied
to ordinary expenditures during the quarter. Tn
estimated expenditures during the remaining tire
quarters, to June 80, 1860, are fotty million min
hundred and ninety five thousand five hundred ane
dollars and twenty cents, 1876,
a5o $50 which sum two million eight hundred
and elghty.six tn usand six hundred and twenty on
dollars and thrty-four cents (2,886, 62l 34) are es
tlmattd Tor the interest on the public debt. The as
certalned and estimated expenditures for the fsca
year ending 30th Juue, 1860, account OF the pub
Tic debt, are, accordingly, million FIVE hundred
ana nifty thousand nine hundred and eighty dollars
and ten cents. ISL 10 } and for the ordinary
expenditures of the Government fiftythree million
four hundred and fifty zone thousand seven hundred
and forty -four dollars and eighty nine cents, (S53
nf