United States oracle and Portsmouth advertiser — Portsmouth, N.H., 1802-01-16 00:00:00, page 2

RW^r:fo btoeer^t. ?-- - _. ,_
adjacent British and Spanish possessions
shall be carried on, in conformity with
treaties ; under which the articles of
the giowth or manufadure of the U
r.ited States may be imported free of
duty, by the way of New-Orleans, from
the weliern parts of the union to the
ports ct_ the Atlantic Rates, and from
these to the interior diltrids of collec
tion on the Weilefn Waters; and un
der which drawbacks shall be allowed
cn the exportation of foreign articles.
Permanent Internal Duties.
The annual Ratement prepared by
the commiflioner of the revenue, and
winch will be completed in a few days,
• precludes the necessity of exhibiting
here ,all the details pertaining to this
branch of revenue.
The ftatenfcnt [MJ is an abftrad of
its amount for the year 1800, during
which "the duties on spirits and ftiils,
refined sugars, licences toretailers, sales
at auction, and pleasurable carriages,
produced a nett sum of 576,888 dolls,
and 80 tents. The duties on # stamps,
which, as under the existing laws, they
will cease after the 4th day of March,
1803, are hot included amongst the per
fn^hent revenues, amounted- for the
fame year to 209,853 dollars, and 32
cents ; both together constitute an item
of dollars 786,742 12 tooths. .
„e receipts in the Treasury from
all the internal revenues, have amount
ed for the ye+ ending on the 30th Sep
tember t^oi; to 919,719 dollars, and
16 cents ; deducting from this sum
65,060 dollars; being the estimated a
mount of drawbacks; paid during that
year, out of the proceeds of the exter
nal revenues, on the exportation of do
mestic distilled spirits and rerined su
gar, leaves a nett sum of about 854,000
dollars, and an encreafe of near 70,000
dollars beyond the. revenue of 1806. '
The accounts of the last, nine months
being ye^ but partially rendered, it is
not practicable to afeertain to what dials
of duties the encreafe belongs, nor par
ticularly to diferiminate between the
encreafe of the revenue arising from
stamps, and that of permanent internal
revenues. Yet it is believed that these,
exclulively of the ftjmp duties, may
fately be estimated, for the average of
theyears 1892—1809, at! an annual
sum not less than 650,000 dollars.
In order, however, to secure that
amount,a revision of the system, so far
as it relates to country ftills,is essential
ly necessary. Whilst the owners of
f@ll dillileries,, jn some parts of the
union, complain of the operation of a
tax,railed on the capacity of their stills;
that fame regulation has enabled all
those whole capitals are larger, and lo
cal situation,more advantageous, espe
cially in the middle ftates,.to reduce
the actual duty on the quantity of spir
its, distilled from grain, to about three
cents per gallon. But improvements
have lately been introduced which, by
accelerating the process of distillation,
will, according to the estimate ®f the
commiilioner of the revenue, reduce
-the duty on Rills to about three-fifths of
a cent per gallon of distilled spirits.—
The effed of these on the revenue has
already been falibly felt in one of the
mod productive dißriCts in the United
States ;. and unless it shall be counter
acted, either by reftriding laws, or by
an increase of the duty on the capacity
of the Rills, or by a change of, the sub
ject of taxation, a coniiderable defalca
tion muR be expected.
Whatever mode may be adopted, it
is refpe&fnlly fubahtted, whether the
revenue may not be benefitted, and just
grounds of complaint removed by a
repeal, or modification, of the clause
which compels a yearly entry of stills
in the month of June, under a penalty
of 250 dollars ; by a permission to per
fqns who take short licences to continue
drilling beyond the time limited in
their licences, on paying a proportion
ate duty ; and, by reducing into one
act, all the laws in relation to duties on
Rills and domeflic distilled spirits.
It will appear by the fame Ratement,
[M.] that whilst the expences of col
lection on merchandize and tonnage,
which ate defrayed but of the revenue,
do not exceed 4 per cent ; those on.the
permanent internal duties, amount to
almost 20 per cent. This, however, is
an inconvenience which, on account of
the great number of individuals on
whom the duties are raised, and of their
, dispersed situation throughout the whole
extent of the United States, must,
.more or less attach to the system of
internal taxation, so long as the Wants
of government, shall not requite any
considerable extension, and the total
amount of revenue shall remain incon
siderable.
Sales of Public I^^ds..
The only data on which'fo calculate
the annual revenue, which may proba
fy^ly.be derived for theenfuing eight
years,' from those sales, are the quanti
ty of land at the disposal of govern
ment,, compared with the probable an
nual demand; and the actual sales,
which have taken place fihce the seve
ral land offices have been opened.
.Theprecife quantity cannot be afeer
tained, all the surveys not being yet
completed, and the weftern boundary
me of the Virginia reservation, from
I the head spring of the Little Miami,
I northward, being neither furveyed,nor
even the principle on which its course
must depend, determined by the terms of
ceflion, accepted by Congress.
The estimate [N] may, however,
be considered so far correct as to ren-(
der it certain, that the quantity of;
public lands north weft of the Ohio, ;
within the Indian boundary line, and
not yet disposed of, amounts to very
near nine millions of acres.—A gene-;
ral map of those lands, including the
Virginia reservation, and the grants
to the Ohio company, and to John C.
Symmes, which has been compiled
from the survey of the Indian bounda-,
ry line, and from the draughts return
; ed to the Treasury Department, will
be transmitted to Congress and will
3 more clearly explain their relative situ
ation than could be done by any writ
;ten description.
,The statement [o] flows the hdual
sales which have taken place in the sev
eral land offices, to, the 31st day of Oc
, tober latl By this it appears that
.398,646 acres have been fold, for
, 834,887 dollars ; of which sum 248,-
. 461 dollars have been paid, and 586,-
426 remain due ; being payable under :
the law in inftalments, bearing interest ,
from the date oi sales, and which will
become due in the years 1802—1805,
in the. proportions exhibited in the
ftatement...^
The quantity of land fold either at 1
the public sales of the three land of
fices, of Marietta, Chilicothe, and Cin
cinnati,or at private sale at Steubenville,
when the land office Was fifrft opened,
cannot.,afford any just data, on which
to predicate an estimate of the'proba
, ble annual sales, as tide may 'b^ fup-'
, posed to have been greater when the
, lands wefe fitft offered for fate/than at
fabfequenf periods. " }•,,>:
; Rejecting,therefore the result of the
tWhole of the public sales, and jhat of
; the firft two months private tales at
Steubenville; it appears that there
have been fold at private sale 122,673
acres at Steubenville during a period
of 14. months ending the 31st day of
Prober last ; 64,205 acres at Chili
cothe during a periodof 5 months, end
• ing on the fame day':; 42,656 acres at
Cincinnati duringa period of 6'months,
ending on the fame day ; and 1,544
acres at Mariette during a period bfi6
months; ending on the fame day; which
given in the whole a result of 345,000 .
• acres, annual sales in all the land of
fices. The reservations in the grants
to the Ohio Company, and,to J. C.
Symmes, and in the. townships former
ly fold at New-York ; the surplus of
the trad appropriated for? military
bounties, after the fame shall have been
fatisfied ; and a tract of near one million
of acres, lying north of Symmes's pa
tent, and contained between the Great
Miami and the Virginia Reservation
are not embraced in this general re
sult. The reservations and the milli
tary trad are, not yet difpofhble by any
exiting law;&ndthe trad lying between
the Great Miami and the Virginia
lands, has been only partially offered
for sale, under the act of Congress giv
ing a right of preemption to certain
purchasers under J. C. Symmes. The
result of the operation of this ad has
not yet been afeertained; it is however,
known that under it a number of trads
have been fold, and some payments al
ready made, ;The remainder of the
trad will afterwards, according to law,
be surveyed and offered for sale on the
fame terms as other lands.
Taking in confederation the probable
sales in those several trads, the total
amount of annual sales might fairly be
estimated at 400,000 acres,if the periods
during which the land offices have been
opened had been fufficiently long to
form a fafe basis for calculation. To
estimate them at 250,000 acres a year,
for the ensuing eight years, is' equally
justifiable by the adual sales, by the
known usual demand, and by the qua
lity and superior fafety of title of the
public lands.^
The nominal price of those lands is
two dollars per acre ; but on account
of the provisions which relate to inter
est and difeount, they may be obtain
ed, within a small fradion at the rate of
one dollar and 84 cents, if the whole
purchase money is paid at the time of
sale, and may bring in the Treasury
two dollars and twenty-seven cents per
acre, if the purchaser shall avail him
felf of the terms of credit given by law.
, If the proceeds of the whole files
shall be estimated only at the rate of 1
dollar and 84 cents per atty it will al
low 24 per cent, for losses, on account
of non-payments , on the three last in
ftalments ; and afterthe year 1805 give
on an annual sale of 250,600 acres, an
annual income of 460,0'c0 dollars but,
as on account of the credit given by
law, the whole of this sum will not, till :
after the year 1805, be annually re
ceivable in payment of lands fold after
the ift January next ; whilst oh the oth
er hand the sums due for lands fold be
fore the end of this year will become
payable during the four next ensuing
years, it will be found, that, making the
fame dedudion pf 24 per cent for losses
on thefums already due, the whole sums
receivable for lands already fold, or to
be fold during the eight years 1802— 1
1809, will forthofe eight years, on an
average, amount annually to 400,000
dollars.
Some legislative provisions seem ne
teffary to afeertain the weftern boun
<dary of the Virginia lands, to define in
I what manner the seven firft ranges of
' townfhips ihall be Redivided into sec
tions without interfering with the claims
, of former purchasers ; and perhaps in
4 relation to the lands claimed by pur
chasers under J. C. Symmes. But the
most important objed, in order to fe
\ cure anddmprove this valuable branch
of revenue, is to provide againd the
j progref3 of intrusions on the public
lands ; and especially to devise some
efficient and prompt mode of giving
quiet possession to every person purchas
ing under the law.
'^^6 Dividends on Bank Shares, Inci
dental.
I he annual proceeds of the duties on poßagc
may not be estimated at less than 30,000 dolls,
The dividends on bank ffiares, at the rate of 3
per cent, dividend, amount to 70,040 dollars
but as the (hares themfelv^ may eventually be
wanted, as a resource to meet certain contingent
demands against the United States, those divi
dends, although constituting a part of the reve
r nue, unless it shall be found neceffiry to.felLthe
flock, and the incidental or temporalv revenues
shall be omitted in this eftimate'tf the .perma
oent'revenues: V. =
These, therefore, are estimated in the whole,;
at 10,600,000 dollars, viz.
, Duties on merchandize and, 34 '•
tonnage, 9,500,000
Internal duties, stamps excepted 656,906.
'' Proceeds of the sales of public, lands 400,00 g
Duties on postage jo^ocro
The other tentyoi\sry rfburcej of the Unit
'ed states, are^
ill. The proceeds of stamp duties for the 14
months from the ill January, 180%, to the 4th
March, 4803,. .which, under the exiting law
limit their continuance, 260,000 dollars.
^d. The hal^c| due oh the direct tax/the
amount paid in the treasury tothe firtl ftiftaht,
so ar the fame ca&he"afeertained, was 1,145,000
tio lars, leaving ^ outstanding sum of 755,000
dollars; but ^ tl^s last sum is chargable with
all rhe expences df'colleflion, estimated at the
rate of 7 per cerf, at 140,000 dollars, the real
balance is only apoyt 615,000 dollars ; and as
delays and perhaps an eventual loss may be ex
pedled on the Impart of the collection, it would
not be fafe co climate the amount, which will
probably be paid in the treasury, at more than
450,000 dollars.
3d. The proceeds of sales of public vessels—
Fifteen veflels ha,e been fold under the a& of
last fcffion of Congress, for 275,767 dollars, and
74 cents; of which fun,, 86,412 dollars and 83,,
cents had been ^aid-on the 30th of September
last, leaving an x>btfUfflihg,bal,nce. of 18^2^,.
dollars and ninety cents.
4th. The excels of £[>ecis in the Treasury be
yond the sum wtiipli it is prudent to ke^p there,
, may be estimated at about 1,000,000 dollars.
sth. The fharcs of the bank of the United
States, owned by the United States, are at 33
1-3 per cent advance, worth 1,184,000 dollars.
Those several items, exciufively of several bal
ances due by individuals, and a par; of which
will eventually be received in the Treasury, cou
ftitute a sum exceeding three millions of dollars,
and may, for the present be confidered^as re
sources fufficient to meet the demands against
the United States, which may be eventually
payable on account of the forth article of the
treaty With Great Britain, and of the
article of the Convention with France.
The permanent expenditures of the U. States
relate, either to the current expences of govern
ment, domeflic or foreign, civil and military,
or to the payment of the interest and principal
of the public debt.'
The climates of appropriations fob the ensu
ing year, amounting to 3,448,147 dollars; dnd
18 cent£ include all the expences of government,
other than those in relation to the public debt,
with the exception of those incident to the in
tercourse with the Barbary powers; estimated,
after the ensuing year, by the Secretary of State,
at 70,606 dollars; of those which may be in
curred for the putchafe of arms, estimated by
the Secretary of War, at 55,000 dollars ; and a
part of the Indian annuities, amounting to
11,000 dollars ; these items having been omit
ted in the eftiniates of the ensuing year, because
the balances of unexpended appropriations have
been considered as fufficient for those objects by
the Secretaries of State and War, refpe&ively.
Oh the other hand, a sum of about 70,000 dolls,
in relation to the census and quarantine laws,
which is included id those estimates, is a tempo
rary expense.
^ The particular sums, which, under exiting
lawQ seem necessary to defray each particular
authorized expense, being detailed in the annual
estimates, will not be repeated here; and it ap
pears fufficient to recapitulate the gross amount
of the general heads of expenditure, viz.
DOI.LS.
For alt domeflic expenses of a foil nature,
including the cioil department, and all the
mifccllaneous items of the light boufes and
mint eJlabliJbments,oftbefuro,ing depart
ment, of penfans, claims and contingencies. 780,006
For all tbe expences of intercourse icitb
foreign nations, including those of tbe di
plomatic department , those incident to tbe
prosecution of claims and to tbe protection
of seamen in foreign countries, and tbofe in
telatio, to tbe Barbary powers. 200,000
For the military eJlablfbment including alt
tbe expences in relation to tbe army, to ur*
.finals and magazines', to tbe fabrication
and purcbafe of arms and military fores,to
fortifications, ^to tbe Indian department. 1,420,000
For tbe navy department, including all tbe
expences in relation to tbefoips kept in come
miffon, or laid up in ordinary, to the build
™g °f nCTU Jbips, and to dock yards. 1,10b,000
J ' 3,500,00°
Making altogether three millions &
five hundred thousand dollars, which
sum deduced from the estimated rev
enue of ten millions and fix hundred
thousand dollars, leaves a sum of seven
millions and one hundred thousand
dollars, annually applicable to the pay
ment pfintereft and redemption of the
principal of public debt. ~
It must be further observed, that the
sums aligned to each head of expendi
ture, being deduced from the estimates
of appropriations necessary for the en
fuihg year ; and these having been calf
culated before the re-eftablifliment of
feace in Europe was known, they are
predicated, for every item,which re-.
Utes' to fopplies on the tiien f^ifei^t
prices. A considerable deduction will
take place in every item, which depends
on the price of provisions, freight, trans
portation and even wages. Although
the laving thence arising, cannotfcetbe
correctly ascertained, it may be
estimated at less than 200,000 dollars
annually. It is therefore believed that
after defraying every expence necessary
to Support every civil, military, or na
|va| establishment, to the extent now
guthorifed by law ; th~fannual Surplus
applicable to the debt, may be confi
dently estimated at Seven millions and
three hundred thousand dollars.
The statement [PJ exhibits the a
mount of the unredeemed principal of
the public debt a^it will be on the Tft
of January next, and of the annual in
'tereft and charges payable thereon, in
eluding the annual reimbursement on
the fix per cent and deferredftockfc
.'By the printed llatements 01\@ipts.&
expenditures for the year 4 Sop trans
• Fitted to Congress tfc firft week of the
present session, it appears that'the un
redeemed principal of the public debt
(exclusively of the Sums passed to the
credit of the commlffioners of the fink
ing 'fund, which are onfra nominal
debt due by the United States to them-
Selves ; and after deducing the reim
fourfement of the principal of the fix
per cent flock, operated by the annual
Payment of 3 per cent, on the nominal
amount of that (lock^ amounted, on
the Ift of January, 1801, to 80,161,207
- dollars and 60 cents.
By the statement [PJ it appears that
the unredeemed principal will, on the
firty of'January,, 1802, amount to
77,881,890 dollars and 29 cents;jthe
difference of 2,279,3 1 7 dollars; and fl
cents, being the amount of principal
paid during the year 1801.
During the fame year 180!, more
than eight hundred thousand dollars
(hall have been remitted to Holland,
in part of the interest and installments
on the Dutch debt, falling, due next
year ; which sum is not included in
the amount of principal, thus dated .to
have been paid during the present year.
The sums which on the ift January,
1801,±ad been remitted to Holland,
k in perfrof the interest and installments
[T^fyfe&Wfe ofQis year, & which
vlerQpt-deduaed fromthe amount of
public debt on the j 4 of Januarylßol,
did hot exceed five, hundred thousand
dollars. The amount of debt actually
paid, or for thepayment of which pro
vision Shall have been made during the
present year, will not therefore be less
than two millions five hundred .thou
sand dollars. And it is believed, tho'
it cannot at present be precisely afeey
tained, that the balance of Specie in the
Treasury, which, on the firft of Janua
ry 1801, was 2,557,395 dollars and 38
cents, will not be diminished on the Ift
of January, 1802.
The Treasury accounts being fettled
to the 30th day of September last, the
amount of public debt paid during the
half year, commencing on the firft of
April, and ending on the 30th Septem
ber rßoi, as well as the comparative
view of the Treasury at the commence
ment, and end of that period, may be
precisely dated
The payments in part of the principal of the
debt, made during those fix months, exclusively
of certain parts of the unfunded debt, which
have been reimbursed, have been,
ift. To the commissioners of the finking
fund, and to be by them applied, on the firft
bf January next, to the reimbursement of the
fix per cent flock, Dolls. 129,048 83
2a. To the bank of the United
States, on account of the principal
of sundry temporary loans,formerly
obtained from that institution, 500,000
jd. Fpr remittances to Holland,
on account of the Dutch debt,
782,665 dollars and 79 cents; from
which deducing 245.980 dollars
and 50 cents, being the interest &
commiflions for ope half of the
year 1801. on that debt; leaves
paid on account of the principal, 536,685 29
4th. Evidences of public debt
paid for lands, 21,282 66
1,187,016 78
Amounting altogether to one million, one
hundred and eighty seven thousand and sixteen
dollars and seventy-eight cents.
The balance of specie in the Treasury a
hiounted,oß the firft of April, I 801, to 1,794,044
dollars and 85 cents, and on the ift of October
18oi, to 2,946,038 dollars and 73 cents, mak
ing a difference in favor of the Treasury of
1,151,993 dollars and 88 cents ; which last sum,
added to the above stated payments on account
of the principal of the debt, makes an actual dif
ference in favor of the U. States of 2,339,010
dollarsand 66 cents, during those fix months.
The principal of the public debt unredeemed
on the firft of January, 1802, is, in the Statement
[Pjarranged under four heads, viz.
ift. Six per cent and deferred flocks. The
nominal amount of this, debt is 41,879,525 dolls.
23 cents, and the eight per cent annuity, ap
plicable to its interest and reimbursement of
principal amounts to 3,350,362 dollars and one
cent. As by the effed of this annuity 5,027,740
dollars and 5 7 cents of the principal Shall have
been reimbursed on the ill of !Jannary 1802,
the unredeemed principal of that debt will on
that day be only, * dolls. 36,851,784 66
The interest at the rate of fix per cent,
oh which sum is - - - 2,211,107 *
The part of the 8 per cent annuity at present
applicable to the redemption oral, principal is,
therefore, 1,139,254 dollars and three cents, and
entreating each year at compound interest, Shall
without any further provision, have discharged
the whole of the fix per cent in the year 1818,
..and the whole of the deferred debt in the year
~^d ' Three per cent flock amounts to dolls.
19,079,705 63
And the interest on she fame to 572,391 16
No provision has been made for its redemp
, tico, occasional payments for lands excepted.
3d, All the other d6meftic debts created un
der the present government of the union, in or
der either to difeharge other debts, or to meet
certain extraordinary expences. These include
the five and a half, four and a naif navy fix, 1796
fix, and eight per cent flocks,and the tempora
ry loans obtained from the bank, and amount
together to dolls. 12,035,400
The interest on all these conflitutes
-an item of-- - - 828,350 50
4th. The foreign debt due in Holland and at
Antwerp, amounts, including premiums and
. gratifications, to dolls. 9,915,000
The interest on which, commiflions
and charges included, is, for the
'•year iBo2, 476,931
; _ _ <^
This last debt being payable in inftal
ments; at certain fixed dates, and it be
ing necessary to purchase remittances in
America, near fix months before the
payments are made in Holland; the
Statement [R] has been added, to (hew
the payments, both bn account of prin
cipal and interest, which become annu
ally due in Holland, until the final .
redemption of the debt in 1809 ; and
the sums which it will be nectary ev
ery year to provide in America, in or
der to meet those payments. The
greater part of this debt becomes due
in the courie of the five n|xt ending
years ; and the annual payments, 011',1
account of principal and,interest for
that period, exceeds, on an average,two
I millions of dollars. The inconvenience
;and difficulty of procuring remittances
to that amount, and the real injuiy
arising from such heavy diSburfements
abroad, render an extension of the terms
of payment, by partial re-loans, a defir- ,
ableobjeft; and meafu res have been tak
en to afeertain its praJicability. All that
feerns wanted is, that the gross amount
of payments which are to take place
during the eight hext years, ffiould be
more equally apportioned amongst
thole years' ; arid any greater surplus
of revenue which might be freed by
that operation, would be applicable th
the redemption of those species of the do
mestic debt which it may be thought
most eligible to reimburse.
Whether this operation mail be ef
fe&ed or not, no difficulty is appre
hended from want of resources to dis- 1
charge every installment as it shall be
come due. The sum payable in 1803,
in which year the largest paymentsl
must be made in Holland, amounting,
including both those, and all other
actually due, on the account of the in
terest and reimbursement of the do
' meftic debt, to duly 7,100,000 dollars,
. or to 200,000 dollars less than the an
nuity of 7,300,000 dollars, which has ,
been estimated as the surplus of reve
nue applicable to that object.
If that surplus does exist, and if it|
will be fufficient to meet all the en
gagements of the United States as
they become due, the only remaining
objects of enquiry seem to be; what
impre flion will, during the next eight
years to which these estimates refer, be ;
made on the public debt, by the annu
al application of that surplus ? In
what time would the fame annuity dif
eharge the public debt >
The Statement [S'] exhibits the ef
fect produced at the end of the year
1809, 011 the debt by the annual appli
cation of that sum (7,300,000 dollars) ' 3
to the payment of both principal and
interest, and ffiews that atthe endof
those eight years it ihall have paid the
whole of the Dutch debt; of the tern- !4
porary loans due to the bank; of the
navy fix per cent, ^nd of the five and a
half per cent flocks; 5,525,300 dol
lars, and 38 cents of the eight per cent.j
dock ; 150,387 dollars and twenty-fix
cents of the tour and a half per cent i
flock ; and 11,399,263 dollars and fix'
cents of the principal of the fix per)
cent and deferred stocks, amounting
altogether to thirty-two millions two'
hundred and eighty-nine thousand, one
hundred and fifty dollars and seventy ,
cents.
The public debt would, therefore;
on the ift. January 1810 be reduced
to 45'59 2 '739 dollars and 59 cents,'
viz. 954,899 dollars and 62 cents of
the eight per cent flock ; 25,612 dol
lars and 74 cents of the four and a .
half per cent flock (both of vhicli
would be discharged during the four
firft months Ofthe year &o) 80,000
dollars of the 1796 fix per cent Stock;
2 ,45 2, 5 2 t dollars arid 60 cents of the ;
fix per cent and deferred docks, and A
the 19,079,705 dollars and 63 cents;
three per cent (lock. T ]
It is true that this statement is pr& |
dicated on the ftppofiron that the
Whole of the remittances toiHoharidj
may be purchased at par, which is
not probable, but on the other hand, it
is calculated on the principle of a year
ly instead of a quarter-yearly payable <
annuity ; or, as if all the payments
made in one year, oh account of the I
principal of the debt, took place only nt
the end of the year, instead of being
[ made, as will be the case in the course
I of the year, and dropping the interest
Ifrom the end of the quartet in which' J