The Sun.
London, England, 1828-01-12 00:00:00

AMERICAN PAPERS.

(From the New York Evening Post.)
" TREASURY REPORT FOR 1827.

" The annual report of the Secretary of the Trea-
sury for the present year has just been received. It
is excessively voluminous, occupying ten wide
columns in the National Inielligencer, a circum-
stance which may be accounted for from its being
also excessively declamatory. We have not room
for it to-day; and a great portion of it is really of so
little value, that we must postpone its entire publi-
cation for the present. _

" The repo-r- sets out with congratulating the
nation on tbe of its revenue. The Secretary
admits, that m year ending on the 13th of Sep-
tember last, the 11},portations have been less than
those in the year previous ; yet if we compute time
in another manner, and end the year with the 15th
of the present month, the importations, he thinks,
will be found greater during the present year than
during the last. An increase of importation during
the third and the yet unexpired quarters of the year
1827, has taken place, arising, he says, from the
greater quantity of woollen goods brought into the
country within a few months past. He therefore
supposes that the importations for the next year
will be sufficient to produce an ample revenue. We
presume that while penning this expression of his
favourable anticipations, he was not thinking of the
plan which he afterwards proposes in the course of
his report, to cut off the importation of woollen
goods by additional duties. If the importation of
those goods, which, according to him, have alone.
had the effect of raising our diminished revenue, be
checked, it is very apparent that the revenue must
again decline.
" As to the public debt, it is stated, that on the
Ist of January, 1825, it amounted to somewhat
more than 88 millions and a half. On the Ist et
January next it will stand at about 67 millions and
a half. In these three years, a sum amounting to
more than 21 millions has been applied to the ex-
tinguishment of the national debt. Of this sum,
however, five millions were borrowed under the Act
of May 26, 1824, at an intefest of 4f per cent., to
pay off an equal portion of debt standing at an hate-
rest of 6 per cent. The report goes into a particu-
lar enumeration and description of the several kinds
of stock of which our funded debt is composed.
No new measures in relation to this subject are re-
commended.

" The following is an abstract of the statement
given in the report of the Revenue and Expenditure
of 1826 and 1827 :

" The net revenue which accrued from duties ou
imports and tonnage during the year 1826,
amounted to 20,248,054 d. 30c. ;. and the actual
receipts into the Treasury from all sources during
the year 1826, amounted to 25,260,434 d. 21c.
Making, with the balance in the Treasury on the
Ist of January, 1826, of 5,201,450 d. 43c., an aggre-
gate of 30,462,084 d. 64c.

" The actual receipts into the Treasury during
the time first quarters of the year 1827, are esti-
mated to have amounted to 17,483,810 d. 7c.
" And the actual receipt into the Treasury dur-
ing the fourth quarter of the year, (including the
other moiety of the sum explained above), are esti-
mated at .5,117,480 d. Making the total estimated
receipts into the Treasury during the year 1827,
22,606,297 d- 7c.

" And, with the balance of the Treasury on the
31st of December, 1826, of 6,358,686 d. nc., nn
aggregate 28,964,976 d. 25c.
" The expenditures of the three first quarters of
the year 1827, are estimated to have amounted is
317,895,390 d. 96e.

" And the expenditure of the fourth quarter are
estimated at 4,800,000 d. 6c. Making the total ex-
penditure of the year 1827, 22,695,390 d. 97c.
"And leaving in the Treasury on the Ist of Jan.
1828, an estimated balance of 6,269,585 d. 29c.
" These statements are followed by a long and
rambling disquisition on the importance of protect 7
ing certain branches of American manufactures. The
worthy Secretary has regularly, ever since his ap-
pointment, devoted a separate chapter of his reports'
to this favourite subject; in which, after having
escaped from the dry matters of fact relating to the
public debt, revenue, and expenditure, he gives the
reins to his imagination, and regales the public with
a quantity of prodigiously fine writing. The present
report is just about as bombastic in its style, and as
wretched in its reasoning, as its predecessors. A
great part of it is taken up with declaiming on the
evils of buying 'chief), on the benefits of the old
British restrictive system, ou the superior morals of
a manufacturing population, on the importance of
' developing new aptitudes,' and other subjects of
the kind. It recommends that imposts be laid for
the encouragement of domestic manufactures in the
following order : —l. Upon woollen goods and foreign
wool ; 2. Upon fine cotton gdods; 3. Upon bai
iron; 4. Upon hemp.
" The Tariff of 1824, says the the report, as far
as respects woollen goods, has been rendered abor-
tive by a chn.ng-e' which has been made tin the
laws of Great Sri;, since 1824'—alluding to e ,th
reduction of flie drty on imported wool.; TherSe-
cretary should have possessed himself mOresupu:eiredfceetcoti:i
of the facts before repeating'
the exploded aigumenf
comparatively
of Mr. Everett. The change in the law of areal
Britain was made, not since, but inalS24 ;
the very day that our tariff law
from
ti
passid. It had beet
petitioned for years before, and-seas the
a long discusSion in Parliament.' Besides, its effect
in countervailing the provisions of our tariff has beer
shown to be very slight,
small proportion of foreign wool employed in Britisl.
fabrics.

topics belonging to this
we are ()biked to defe.
" There are several other
part of the report, on which
our remarks to another day. In the mean time,
we give the conclusion of the report, containing thi
estimates for the next year.

" The gross amount of duties which accrued o?
imports and tonnage from the Ist of January to tilt
30th of September last, is estimated at 21,226,000 d
The gross amount that will accrue
,for the last quar

" The amount of duty bonds in suit on the 30th
of September last, was 4,136,812 d. 64c., which is
more by 128,929 d. 86c. than was in suit on the
same day of the year preceding. • •
" In estimating the probable amounr.el duties
that will be received as compared with the gross
amount secured on the importations of the year, the
necessary deductions are to be made, not Only for
drawbacks, but for the expcnces or collection, alid
various losses that may happen. Makin %Ow- is
judged to be a full allowance oii 'dl these accounts,
for the present occasion, the. receipts for the Cus-
toms in 1828 are estimated at '— -20,37 t; sew('
Those from the sales of the public lands are

estimated at
From the Bank dividends

And from all other aourcea

,V(1,000

12.; t 1 r

107

Making an aggregate of
"The expenditure for 1828 is estitnated
as follows Dnl C
Civil, miscellaneous, and diplomatic
Military services, including fortifications,
ordnance, Indian department, retolu-
tionary and military pensions, arming
the Militia, and arrearages prior to the
lat of January. 1827
Naval service, including the gradual in-
crease of the Navy 3,788 649 :%Fa
Public debt r - •10;00010tit)

722.:i(r.: :410

4,5(_ :.•:);

Making a total of 19,947,1:c5 44
And leaving an excgss of receipts for the

year over its expenditure, of 2,U2,6 5
" The estimate of revenue from' ajl c•-sr
1828 has been made 850,0004: lower than 'that for
1827. This has been done to guard, as feu as pos-
sibie, against unfavourable contingencies. NE.v.c.:•-
theless, the present estimate. is formed on a L,r;T.i
amount of duties secured by bond on merohn.liz
imported than the estimate for 1527. Hence i!rt;',
is reason, from all present appearances, to believc,
that although the estimate for 1828 is less than that
for 1827, the receipts will prove greater.