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| | James Buchanan's 4th Annual Message to Congress - 1860 |
 | | I transmitted this convention to the Senate for their constitutional action on the 3rd of May, 1860, and on the 7th of the succeeding June they determined that they would " not advise and consent " to its ratification. |
 | | I am happy, however, to be able to inform you that during the last fiscal year, ending June 30, 1860, the total expenditures of the Government in all its branches, legislative, executive, and judicial-exclusive of the public debt, were reduced to the sum of $55,402,465.46. |
 | | Allowing a liberal margin of $2,500,000 for this reduction and for other causes, it may be safely asserted that the sum of $61,000,000 or, at the most, $62,000,000 is amply sufficient to administer the Government and to pay the interest on the public debt, unless contingent events should hereafter render extraordinary expenditures necessary. |
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