The Sun.
London, England, 1858-12-20 00:00:00

FINANCES

" The report of the Secretary of the Treasury will explain
in detail the operations of that department of the govern-
ment. The receipts into the Treasury from all sources,
during the fiscal year eliding June 30, 1858, including the
Treasury notes authorised by the Act of Dec. 23, 1857, were
dols 70,273,869 59, which amount, with the balance of
dols. 17,710,114 27 remaining in the Treasury at the com-
mencement of the year, made an aggregate for the service
of the year of dols. 87,983,983 86.
" The public expenditure, during the fiscal year ending
June 30, 1858, amounted to dols. 81,585,667 76, of which
dole. 9,684,537 99 were applied to the payment of the pub-
lic debt, and the redemption of Treasury notes with the
interest thereon, leaving in the Treasury on July 1, 1858,
being the commencement of the present fiscal year, dole.
6,398,316 10.
4, The receipts into the Treasury during the first quarter
of the present fiscal year, commencing the Ist of July,
1858, including one-half of the loan of dols. 20,000,000,
with the premium upon it, authorised by the act of 14th of
June, 1858, were dols. 25,230,879 46, and the estimated re-
ceipts for the remaining three quarters to the 30th of June,
1859, from ordinary sources, are . dole. 38,500,000, making,
with the balance before stated, an aggregate of dole.
70,129,104 56.
" The expenditure during the first quarter of the present
fiscal year, were dols. 21,708,198 51; of which dole.
1,010,142 37 were applied to the payment of the public debt
and the redemption of Treasury notes and the interest
thereon. The estimated expenditures, during the remain-
ing three quarters to 30th June, 1859, are dole. 52,357;698 48,
making an aggregateof dole. 74,065,896 99, being an excess
of expenditure beyond the estimated rscaipts into the Trea-
sury from ordinary sources, during the fiscal year to the
30th Juue, 1859, of dols. 3,936,701 43. Extraordinary
means are placed by law within the command of the Secre-
tary cf the Treasury, by the re-issue of Treasury notes re-
deemed, and by negotiating the balance of the loan autho-
rised by the act of 14th June, 1858, to the extent of dols.
11,000,000, which if realised during the present fiscal year,
will leave a balance in the Treasury, on the Ist day of July,
1859, of dole. 7,063,298 57.
" The estimated receipts during the next fiscal year end-
ing 20th June, 1840, are dols. 62,000,000, which, with the
above estimated balance of dols. 7,063,298 57, make an ag-
gregate for the service of the next fiscal year, of dols.
69,063.298 57. The estimated expenditures during the next
fiscal year, ending 30th June, 1860, are dole. 73,139,147 46,
which leave a deficit of estimated means, compared with the
estimated expenditures for that year, commencing on the Ist
of July, 1859, of dols 4,075,848 89.
In addition to this sum, the Postmaster-General will
require from the Treasury, for the service of the Post-office
Department, 3,038,728 dole., as explained in the report of the
Secretary of the Treasury, which will increase the esti-
mated deficit on the 30th June, 1860, to 7,014,576 dole.
89c. To provide for the payment of this estimated defi-
ciency, which will be increased by such appropriations as
may be made by Congress, not estimated in the report of
the Treasury Department, as well as to provide for the gra-
dual redemption, from year to year, of the outstanding
Treasury notes, the Secretary of the Treitsury recommends
such a revision of the present tariff as will raise the required
amount. After what I have already said, I need scarcely
add that I concur in the opinion expressed in his report,
that the public debt should not be increased by an additional
loan ; and would therefore strongly urgo upon Congress
the duty of making, in their present session, the necessary
provision for meeting these liabilities.l