This action began by the application of economy to public expenditure.

Our splendid Treasury is not a bottomless, automatically replenishing fountain of fiscal supply, and its outflow must be eternally watched and carefully and wisely directed into proper channels.

I suggested to them that it is always necessary to use care in the raising and expending of the revenue of the government.

I am hoping to hold it about where it is. Perhaps we can make a little reduction here and there.

It is sometimes easier for a person that is in private life and no longer charged with the responsibilities of the administration of public affairs to make a larger expenditure of the taxpayers' money than it is for those who have to be responsible for the collection of the money or the payment of it out of the pockets of the taxpayer.

We are not striving to save the dollar at the expense of the public service.

And having made the larger cut in taxation, I suppose they are prepared to resist the applications for increasing expenditures, especially in consideration of expenditures that call for permanent appropriations.

I am satisfied that the appropriation of $75,000 for a building at Youngstown is at present not justified.

It is the rule to make only such allowances in any year as can be paid from the appropriation made for that period.

I have maturely considered the important questions presented by the bill entitled 'An act making appropriations for the support of the Army for the fiscal year ending June 30, 1880, and for other purposes,' and I now return it to the House of Representatives, in which it originated, with my objections to its approval.

I transmit herewith a communication received from the Secretary of the Treasury, on the subject of the balances reported on the books of the Treasury against collecting and disbursing agents of the Government,

In conducting the fiscal operations of the year it has been found necessary to carry into full effect the act of the last session of Congress authorizing a loan of $5M.