ertain,
the public debt had risen to $65,681,099. The balance in the
treasury on the first of July next, as estimated by me, will be
$1,919,349.

* * * * *

"Under the operation of the tariff of 1857, the deficit in the
revenue is over $52,000,000. It may be stated thus:

Balance in the treasury, July 1, 1857 . . . . . . . . . $17,710,114
Balance in the treasury, July 1, 1860, estimated . . . 1,919,349
$15,790,765
Amount of public debt May 1, 1860 . . . $65,681,199
Amount of public debt July 1, 1857 . . 29,060,386 36,620,813
$52,411,578"

It was manifest from these statements that there was an imperative
necessity for the passage of some measure to increase the revenues.
We could hardly hope that, in the excited state of the public mind
and the known position of the Senate, the bill could pass at that
session. The government had been conducted for three years by
borrowing money in time of peace. The appropriations had been
reduced during that session by the committee of ways and means
below the estimate of the treasury, as stated by me to the House.
I then said:

"I desire now to say that the committee of ways and means, who have
had charge of appropriation bills, have endeavored, faithfully and
honestly, without regard to party divisions--and all parties in
this House are represented in that committee--to cut down the
appropriations to the lowest practicable point; and thus to reduce
the expenses of the government. I have before me a table showing
that, upon the estimates submitted to us, by the Secretary of the
Treasury, for the ordinary expenses of the government, we have been
able to reduce the amount about $1,230,000."

After a careful statement of the condition of the treasury and the
necessity for further supplies, I expressed this opinion of the
pending bill:

"In my judgment Mr. Morrill's bill is a great improvement on the
tariff of 1857. It is more certain. It is more definite. It
gives specific duties. There is another reason why it is better
than the tariff of 1857. That tariff is made up of complex and
inconvenient tables. The number of tables is too great; and in
some cases the same article is in two tables. Thus, flaxseed comes
in with a duty of ten per cent.; and yet linseed, the same thing,
yielding the same product, the same oil, is admitted duty f