The Sun.
London, England, 1845-12-30 00:00:00

The estimated receipts, means, and expenditures for the
fiscal year commencing Ist July, 1846, and ending the 30th
June, 1847, are as follows :

RECEIPTS.

From customs for the four quarters ... Dolls. 22,500,000 00
From sales of public lands 2,400,000 00
From miscellaneous and incidental
sources

100,000

Total revenue 25,000,000 00
Add estimated balance to be in the
Treasury on the Ist July, 1846 ... 4,851,254 32

Total means for the services of the fiscal
year ending the 30th June, 1847 ... 29,851,254 32
EXPENDITURES.
The expenditures during the same period, as estimated by
the several departments of State, Treasury, War, Navy, Post-
master-General, viz. :
The balance of former appropriations which will be re-
quired to be expended in this year .. Dolls. 1,441,457 10
rermanent and indefinite appropriations 2,997,915, 72
Specific appropriations asked for this year 21,079,440 43

Total estimated expenditures ... ... 25,518,813 25
This sum is composed of the following particulars :
For civil list, foreign intercourse and mis-
cellaneous dola. 5,92.5,292 62
For army proper 3,364,458 92
For fortifications, ordnance, arming militia, &c 4,331,809 93
For pensions
For Indian department
For naval establishment 6,339,390 88
For interest on public debt ... 835,844 72

Dols. 25,518,813 25
Which, deducted from the total of means
before stated, gives an estimated balance
on the Ist of July, 1847, 0f...... 4,332,441 07
By this it will be observed that the contemplated expendi-
ture for the year ending June 30, 1846, is nearly the same as
the actual outlay oft he year preceding, and that the estimates
for the year ending June 30, 1847, are only 25,500,000 of
dollars, being nearly 5,000,000 less than the expenditures of
1844 and 1845. The expenses of the army, navy, fortifica-
tions, &c., estimated for 1845-6, are about 10,000,000 of dol-
lars ; those for 1846-7 are put at 14,000,00 of dollars.
The war of 1812 to 1815 between the United States and
England left the United States in debt one hundred and
eighty millions of dollars. She went into it in good credit,
borrowing money at par, while at the termination United
States Securities sold at 30 a4O per cent. discount. The war
lasted three 3 ears. _ _

.;
The great contrast between the contemplated expenditure
for the ensuing years, and the actual outlay which war re-
quires, show conclusively, that whatever sentiments the Pre-
sident may entertain towards England, he does not even ask
the means of supporting those he has put forth. He doe. not
mean to go to war if he can help it, but he is playing a game
which will soon put the whole matter out of his control if
it be continued. The contemplated outlay is by no means
commensurate with what our policy requires.
The Secretary's recommendations in regard to the tariff
embrace the quintessence of Polk's views in the Message,
or, what is more likely, the Message takes its hue from and
amt.lifies the propositions of the Secretary, which are sub-
stantially as follows:-
1. No more money to be raised than what is wanted by
Government.
2. No duty to be laid upon any article above the lowest
rate which will yield the largest amount of revenue.
3. Discrimination made below that, down to perfect free
trade.

4. Maximum duties on luxuries.
5. All minimum and specific duties to be abolished, sub-
stituting ad valorem duties—care being taken to guard
against frauds.
6. Duties to be laid equally, not discriminating in farour
of any class.
Horizontalism is repudiated, because, peradventure, some
of the horizontal duties might possibly operate as protective
and not as revenue imposts—protection being the monster
which is to be killed at all events in this tariff war.
Mr. Walker says the revenue from the highly protected
articles is becoming gradually less, because domestic manu-
factures are driving the foreign articles from the market, and
thinks the result will be, in time, a necessity for direct taxa-
tion, unless the duties are reduced so low as to permit impor-
tation again.
Among other modes of " equalising" the tariff, and " re-
lieving the people from its oppressive burdens," the Secre-
tary proposes to repeal the fishing bounties, and the duty on
salt. _ _

The recommendations of the Secretary of the Treasury
for the establishment of a sub-treasury system have already
been noticed in the President's Message, with which they
coincide.