A Compilation of the Messages and Papers of the Presidents. Volume 5, part 4: James Buchanan
History
A Compilation of the Messages and Papers of the Presidents. Volume 5, part 4: James Buchanan
Buchanan, James, 1791-1868; Presidents -- United States; United States -- History -- Sources; United States -- Politics and government
In answer to the resolution of the Senate of the 19th ultimo, respecting
the Isthmus of Tehuantepec, I transmit herewith a report from the
Secretary of State, with the documents by which it is accompanied,
together with the copy of a letter from the Postmaster-General of the
21st ultimo to the Department of State.
JAMES BUCHANAN.
WASHINGTON CITY, _June 11, 1858_.
_To the House of Representatives_:
I transmit herewith a report from the Secretary of War, with the
accompanying papers,[8] in obedience to the resolution of the House of
Representatives of the 2d of June, 1858.
JAMES BUCHANAN.
[Footnote 8: Copies of contracts for deepening the channels of the
Southwest Pass and Pass à l'Outre, at the mouth of the Mississippi
River, etc.]
WASHINGTON CITY, _June 12, 1858_.
_To the Senate and House of Representatives_:
I feel it to be an indispensable duty to call your attention to the
condition of the Treasury. On the 19th day of May last the Secretary of
the Treasury submitted a report to Congress "on the present condition of
the finances of the Government." In this report he states that after a
call upon the heads of Departments he had received official information
that the sum of $37,000,000 would probably be required during the first
two quarters of the next fiscal year, from the 1st of July until the
1st of January. "This sum," the Secretary says, "does not include such
amounts as may be appropriated by Congress over and above the estimates
submitted to them by the Departments, and I have no data on which to
estimate for such expenditures. Upon this point Congress is better able
to form a correct opinion than I am."
The Secretary then estimates that the receipts into the Treasury from
all sources between the 1st of July and the 1st of January would amount
to $25,000,000, leaving a deficit of $15,000,000, inclusive of the sum
of about $3,000,000, the least amount required to be in the Treasury
at all times to secure its successful operation. For this amount he
recommends a loan. This loan, it will be observed, was required, after a
close calculation, to meet the estimates from the different Departments,
and not such appropriations as might be made by Congress over and above
these estimates.
There was embraced in this sum of $15,000,000 estimates to the amount of
about $1,750,000 for the three volunteer regiments authorized by the act
of Congress approved April 7, 1858, for two of which, if not for the
third, no appropriation will now be required. To this extent a portion
of the loan of $15,000,000 may be applied to pay the appropriations
made by Congress beyond the estimates from the different Departments,
referred to in the report of the Secretary of the Treasury.
To what extent a probable deficiency may exist in the Treasury between
the 1st July and the 1st January next can not be ascertained until the
appropriation bills, as well as the private bills containing
appropriations, shall have finally passed.
Public-domain text, read in full here on John Shaqi.
Reviews
Reviews
No reviews yet
Be the first to share your thoughts on this work.
Elsewhere in the archive
Join the Discussion
Join the discussion
Sign in to leave a comment or review.
Sign InorCreate an account