The Sun.
London, England, 1846-07-13 00:00:00

ARRIVAL

OF THE

GREAT WESTERN

EIGHT DAYS LATER FROM AMERICA.

DREADFUL FIRE at the, QUEBEC

THEATRE,
AND LOSS OF FIFTY LIVES.

(FROM OUR LIVERPOOL CORRESPONDENT.)
LIVERPOOL, SATURDAY MORNING.
Shortly after twelve o'clock last night, the steam-
ship Great Western, Captain H. Matthews, entered the
Mersey, bringing New York papers of the 25th ult.,
and Washington of the day previous.
This arrival furnishes the gratifying intelligence of
the Or, gon treaty having been ratified and passed the
Senate on the 18th of June, by a majority of 41 to 14.
This document was brought over in the Great Western,
under the care of General Armstrong, the United States
Consul at Liverpool, who was also honoured with the
dispatch of the British Minister, Mr. Pakenham.
The papers by this arrival furnish a variety of inter-
esting details relative to the Mexican and United States
armies; the latter remained up to the latest advices, via
New Orleans, inactive.
Quebec, we regret to say, has again been visited by
another dreadful fire, with an awful amount of loss of
human life. The theatre took fire, and such was the
consternation and alarm) that before the visitors could
leave the house a large number were burned to death.
Up to the time that our advices left that city, fifty dead
bodies had been taken from the ruins.
A New York paper says, " We are very happy to
learn that England is about to offer her mediation, as
it will afford our Government another opportunity to re-
peat the sound views of national policy which have al-
ways guided this union in its dealings with other powers.
If England wishes to come into those views and is pre-
pared to substitute pacific mediation for armed interven-
tion, denouncing all idea of founding the latter upon the
former, and will, at the same time, accept our proffered
mediation for restoring peace in South America, we
have no doubt she will find our Government prepared to
i meet her. It is true, indeed, that when General Jack-
son received William the Fourth's mediation in our
quarrel with France, -and when we offered our medi-
alion to settle the dispute between the allied monarchies
and the South American republics, war had not actually
commenced. Mediation in both cases was offered with
the hope of preventing war. But now that war has ac •
tually commenced, England will probably find a more
available sphere of action among the military usurpers of
Mexico, than at Washington ; and as all nations have
experienced more or less of the tender mercies of her
interventions, the world would rejoice to see us reject•
ing her offers unless they came with a full recognition of
our principles of non-intervention. As to the effects of
this war on French and English commerce, they are no
more disastrous, comparatively, than the injuries inflicted
upon our commerce by the allied intervention in South
America."
The following are extracts from the papers:—
MESSAGE OF THE PRESIDENT OF THE UNITED
STATES, WITH THE ACCOMPANYING REPORTS
OF THE HEADS OF THE TREASURY, WAR AND
NAVY DEPARTMENTS, RELATIVE TO THE MODE
OF RAISING FUNDS FOR CARRYING ON THE
WAR WITH MEXICO.
MESSAGE.
To the Senate of the United States,—ln answer to the
resolution of the Senate of toe 3d inst., I communicate here-
with estimates prepared by the War and Navy Departments,
of the probable expenses of conducting the existing war
with Mexico, during the remainder of the present and the 1
whole of the next fiscal year. I communicate, also, a report
of the Secretary of the Treasury, based upon these estimates,
containing recommendations of measures for raising the ad-
ditional means required. It is probable that the actual ex-
penses incurred (luring the period specified may fall con-
siderably below the estimates submitted, which are for a
larger number of troops than have yet been called to the
field. As a precautionary measure, however, against any
possible deficiency, the estimates have been made at
the largest amount which any state of the service may
require.
It will be perceived from the report of the Secretary of the
Treasury, that a considerable portion of the additional amount
required may be raised by a modification of the rates of duty
imposed by the existing tariff laws. The high duties at pre-
sent levied on many articles totally exclude them from im-
portation, whilst the quantity and amount of others which
are imported are greatly diminished. By reducing these
'duties to a revenue standard, it is not doubted that a large
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dependently of the high considerations which induced me,
in my annual message, to recommend a modification and re-
duction of the rates of duty imposed by the Act of 1842, as
being not only proper in reference to a state of peace, but
just to all the great interests of the country, the necessity of
such modification and reduction as a war measure must now be
manifest. The country requires additional reveuue for the
prosecution of the war. I.t may be obtained to a great ex-
tent by reducing the prohibitory and highly protective du-
ties imposed by the existing laws to revenue rates; by im-
posing revenue duties on the free list; and by modifying the
rates of duty on other articles.
The modifications recommended by the Secretary of the
Treasury in his annual report in December last, were adapted
to a state of peace ; and the additional duties now suggested
by him, are with a view strictly to raise revenue as a war
measure. At the conclusion of the war these duties may and
should be abolished, and reduced to lower rates.
It is not apprehended that the existing war with Mexico
will materially affect our trade and commerce with the rest
of the world. On the contrary, the reductions proposed
would increase that trade, and augment the revenue derived
from it.
Wten 'the country is in a state of war, no contingency,
should be permitted to occur in which there would be a defi-
ciency in the treasury, for the vigorous prosecution of the
war; and to guard against such an event, it is recommended
that contingent authority be given to issue Treasury notes,
or to contract a loan for a limited amount, reimbursable at an
early day. Should no occasion arise to exercise the power,
still it may be important that the authority should exist
should there be a necessity for it.
It is not deemed necessary to resort to direct taxes or ex-
cises—the measures recommended being deemed preferable as
a means of increasing the revenue. It is hoped that the war
with Mexico, if vi4orously prosecuted, as is contemplated,
may be of short duration. I shall be at all times ready to
conclude an honourable peace, whenever the Mexicali Go-
vernment shall manifest a like disposition. The existing
war has been rendered necessary by the acts of Mexico; and
whenever that power shall be ready to do us justice, we shall
be prepared to sheathe the sword, and tender to her the olive
branch of peace.

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JAMES K. POLK.
Washington, June 16, 1846.

REPORT OF TIIE SECRETARY OF THE TREASURY.
Treasury Department, June 15, 1846.
Sir,—l have duly considered the resolution of the Senate of
the 3d of June, 1846, together with the estimates of the Secf!e-
tary of the Navy of the 9th inst., and of tke Secretary of War
of the 13th inst., submitted by you to this department, and
respectfully report to you as flillows :
It appears that the aggregate estimated expenditure of the
War and Navy Departments for the fiscal years terminating
on the 30th of June, 1846 and 1817, amount to 23,952,904
dolls. over and above the estimates made by those departments
in December last, and then submitted in my annual report to
Congress. In that report it was supposed by this depart-
merit, that upon the expenditures then estimated for a state
of peace, there would remain on the is: of July, 1847, a balance
in the Treasury of 4,332,441 dolls. 7c. Deducting this
balance from the excess of expenditures above estimated by
the War and Navy Departments, there would result a de-
ficiency of 19,620,463 dolls.
It is believed, however, that this deficiency will, from
augmented receipts, accrued and accruing for the fiscal
years 1846 and 1847, be diminished four millions of dollars,
which would reduce the deficit on the Ist of July, 1847,
15,620,463 dolls.

It is ascertained, by experience, that for the certain,
prompt, and convenient payment of the public creditors, at
all times and places, throughout our extended territory, and
the supply of the mint and branch mints, for coinage, a sum
of 4 milli,na of dollars, especially during a state of war,
must remain on hand in the Treasury, which would again
raise the sum to be provided for before the 30th of June,
1847, to 19,620,463 dolls.

It isbelieved, however, that a sum equal to 5,534,037
of additional revenue may be produced by the modification
of the tariff herein proposed—namely, to adopt, as a basis, the
Bill reducing the tariff reported by the Committee of Ways
and Means to the House of Representatives on the 14th of
April last, together with the augmented and additional duties
now proposed and enumerated in schedule A. This change of
the Bill reported by the committee, omitting the fourth sec
lion, would make an addition to the revenue to be produced
by that Bill, of 4,034,057 dolls.
After a very careful examination of the additional data
which it has been in my power to obtain since the month of
February last, it is my conviction that the Bill of the Com-
mittee will produce a net revenue of at least 26,000,000 dolls.
If to this be added the additional duties proposed to be levied
in schedule A, the Bill of the committee with the modifica-
tions embraced in that schedule would produce a net re-
venue of 30,034,057 dolls. This would make an addition of
5,534,057 dolls. to the revenue that would be produced
under the Act of 30th August, 1842. If, then, we deduct
this 5,534,057 dolls. from the deficit above estimated, it
would still ieave a deficit of 14,086,406 dolls.

If; in addition to the modifications of the tariff above sug-
gested, the warehousing system were adopted, as recom-
mended in my annual report of December last, it would
make an addition to the annual revenue from customs of one
million of dollars, which, deducted from the above deficit,
would leave a deficiency still remaining of 13,086,406 dolls.
It is true that the introduction of the warehousing system
night diminish the revenue during a portion of the first
year succeeding its adoption ; but that it would add one
million of dollars per annum to the permanent annual revenue
from customs is not doubted.
It is believed also that the reduction and graduation of
the price of the public lands in favour of settlers and culti-
vators, as recommended in your Message of December last,
would make an annual addition of half a million of dollars to
the revenue derivable from the proceeds of the sales of the
public lands, by bringing into market many millions of acres
of the public domain which are wholly unsaleable at the
present minimum price established by law. Deducting this
sum of half a million of dollars front the deficit last above
sentioned, would leave still unprovided for the sum of
1.2,556,406 dolls., which must be met by loans, Treasury
notes, direct taxation, or excises.
In addition to the strong objections which have been
urged against direct taxes and exclies, it would be difficult
:0 put in operation such a system in all the States and ter-
ritories, to as to realise the required amount in cash, before
the 30th of June, 1847. A siatekg 9f direct t d 014.