Star.
London, England, 1816-01-16 00:00:00

LonisianaLadded an annual sum of 700,000 dollars;
to the Sinking Fund. to be paid out of the duties en
merchandise and tonnage ; and to be applied by ;hal
Commissioners to the payment of the public debt, in.
eluding the Louisiana Stock, in the -.manner above
stated. It may be added, that the interest on the.
Louisiana Stock is payable in Europe, but the prin-
cipal is reimbursable at the Treasury of the United
States, in tour annual instalments, commencing
in 1808.

_
It is obvious that a Sinking Fund of 8,000,000 of
dollars (independent of the general pledges in prior
laws) was ample for the payment of the interest aid
the principal of a public debt, amonnting only to the
sum of 86,000,000 dollars, extinguishing the 6 per
cent. stock in 1818, the deferred stock in 1824, and
the Louisiana stock in 1822, as fast as the terms or
the contracts and the policy of the Government,
would permit. The general operation of the fund,
indeed, has been :hewn; but it is proper, more parti..
culasly to add, that on the Ist of January, 1815,
there had been transferred to the credit of the Com-
missioners, in the books of the Treasury, an amount
lof public debt equal to the sum of 35,873,463 dollars
98 cts. ache following denominations, to wit :

I. Foreign Debt.
3 per oast. stock, 8,200,000—A percent. stock. 320,000.-4 per
ceat. stock, 3,100,000--. Total 5e12,300,C00.

IL Domestic Debis.

I per cent. stock, 1,946,026 99-3 per cent. stock, 698,335 41—
Deferred 6 per cent. stock, 1,005.179 $3-8 per cent stock,
6,482,500--Ezehasiged Spur csatuocki 6,294,031 12—Com-
puted 6 per cent. stock, 1.659,350 70-44 per cent. rock,
176,000-54 per ant. stock, 1,643,906—Navy 6 per cent.
stock, 711,700—Louhdane 6 per cent, stock 326,500.44te per
OWL 41.04 k of 1811. 3114,460---Total 11,673,463 96.
Taal of Foreign and Domestic Debt . 33,373,463 93
int the sharps open the Sinking Peed have accumulated, In
' massinasse of the Ist* war, to an mum thick it bas lot the
madly So de*wf ; while ha operations` ha other respects, have
boss dssaufted W the tomOstary et the revenue seising
from dudes on merchandise and tannage, and the protracted em-
barrassments et the *cabling melba. Thu-
1. TM annual appropriation for the Slaking Fund amounts to
6,000,000 of dollars, and modes at proem,
I. Of the interest on such parts of the public debt as have been
reimbursed or paid off (which, however, is itself derived from
the customs) enameled on the sots at December, t a i fp, at the
sum of • 1,969,577 64
2. Of the net proceeds of the sales et the public lands, exclu-
sive of lands sold in the Mississippi Territory (which as yet
belong to the State of Georgia), estimated anomaly at the
aunt of - 800po0
3. Of the proceeds of duties on imparts and tonnage, to
complete the annual investments, estimated at the sum
of - 5,239,4 22 341—. Total 8,000,000
2. The annual charge upon the Sinking Fund, estimated fur
1816, will amount probably to the sum of 14,524,200 dollar,.
On account 9f the interest and the instalments of the old debt,
the sum of :400,090
On account of the interest of the new debt, computed on a capi-
tal of 70 millions of dollars about the sum of 4 .200,000
On account of the principal dollar,
interest of Treasury NOtes,
sued under the Act of the 30th of June, 1812, elm Y. ;tit of
bruary, 1813. and the 4th of March, 1814, (after a!lowtog tor
the amount reimbursed subscribed to the loan and paid for
dudes), about the sum of 6,864,20)—T0tal 14,5 •4,uon
Deficit In the amount of the Sinking Fund, con.p.iresl with the
charges upon it, estimated fur 1815 6• 544 "00
. . . . . .

From this view of the financial operations of the Governmenr,
the Secretary of the Treasury, with every sentiment of deference
and respect, presents the following general couclusions, for the
consideration of Congress :
1. That the existing revenue of the United States arises, Ist,
front ditties on imported merchandize. and the tonnage of vessels
—gd, internal t!utirs, including the direct tax upon I.inds,
and slaves—and 3d, the proceeds of the salelinf pudic lands ; but
some a tlmsli• auts,a 5,..4 ray.. are errinanentiy Unposed, and
some are limited io their del scion.

it. That the following du tee or taxes are either partially or
wholly limited in their duration. Ist. The duties tnt mereben-
dize and tonuace, will be reduced vile half ot. the 17:h of. Fe-
bruary, 1316, except such a; arc imposed on goals of the like
description with the articles of o,nnestie manufacture, on which
duties have been laid, and iucludel in the pcnerat pledge.—
The new duty ott salt; the duty on sugar refined within the
Uuked States, and the stamp duty on bank notes, prondisory
notes discounted, and on bills of exchange, are not included hi
the general pledge, and will wholly cease on the .17th of Fe-
bruary, ISIS.
3. That the following duties or taxes as* not limited in iheir
duration, and are included in the general pledge. I. The di-
rect tax upon lands, houses, and slaves. S. The duties upon
licences to distillers of spirituous liquors distilled. S. The duty
upon licences to retailers of wines, spirituous liquors, and to-
reign merchandise. 4. The duty upon Wes at auction. 5. The
duty upon carriages and harness. 6. The duties upon household
furniture and watches. 7. The duties on articles manufactured
For made for sale within the United Slates. St The rate of
Paine.

4. That the faith of the United States, and the revenue arising
from the dudes and taxes, which are not limited In their dura-
tion, are pledged for the punctual payment of the public debt
principal and interest, according to the terms of the contract.
respectively; and fur creating an adequate Sinking Fund, gra-
dually to reduce and eventually to exthiguisli the debt. But this
pledge will be satisfied by the substitution of other adequate du-
ties or taxer; and the increase in the proceeds of the dudes on
merchandize and tonnage, subsequent to the pledge, affords an
advantageous opportunity of making such substitution, in respect
to the MUM inconvenient and burtheosome portion of the inter-
nal ditties.

S. That the establishment of a -revenue rotas, which shall
not be exclusively dependent upon the supplies of foreign com-
merce, appears, at this juncture, to claim particular aueatiom