Alexandria daily gazette, commercial & political. [volume] (Alexandria [Va.]) 1808-1812, 1809-12-13

cessary to MAKE u, ZIG ~ ~.
-ta.s of the treasury bad been ant'elpase.1,
.nJ. for that reason an Increase or an,'e.
had been respectfully submitted IN 'l's iass
,.,,o.r. fSut shonlet that measure
~. now adopted, il you'd not, on account
= -. f4rr,s &c credit allowed Tor the pay
,nent Of ti,hies, snptrcedc the necessary -
-, fay the service Of the year 1910
commensurate with the extent OF those CO
tab,ishme ats and with the appropriations
which may be made tor their support "
CONGRESS. No precise sum is suggested
since this must vary according to the pans
which NAV be adopted IN RELATION TO 10
re;pn nations, and will particularly depend
on the decision Of Congress On the QUESTION
of war or peace. II is sufficient to state
TIA, If the actual expenditure CT the year
1910 for all military and naval purposes
should be estimated at the same sur, Wh'ch
was. disbursed by the treasury Tor those
objects during the year ending ON Ihr 3atil
Sept. 1909, and exceeding as above stated
ak millions Of do.lara, The deficiency &C
cording to the preceding estimates would
amount 10 three millions on which suPpo-.
sition it would seem prudent, in order to
provide against any deficiency in the re-
cripts bevonst what has been estimated, TO
authorize loan Of four millions OF dol
lars.
z In the event of war the necessity Of rem
dering it eflicien. and of calling for that
purpose into action ali the resources OF the
country, is too obvious to require any coia-
ment. On that subject nothing will at tals
time be added by this department. to the
suggestions respectfully submitted in the
two preceding annual reports. Loans re-
imbursable by instruments andat lxed pc
riods after the return Of peace, must con-
s,itute the principal resource for defray-
ing the extraordinary eXPenccs OF the war.
For the support of public credit, the basis
on which rests the practicabi,ity OF obtain
inn loans on reasonable terms, 1t appears
necessary that the revenue should, in the
NEAR: while, be equal to the interest On the
public debt including that on the new loans,
and to all the carrent expences OF govern
ment calculated on a peace establishment,
or, for the present, to about eight millions
Of dollars. An immediate and consldera-
bic increase Of the existing duties will, il is
believed, be requisite for that purpose In
order to cover the defalcation which mari
time war must necessarily producein re-
venue almost exclusively depending Oh
commerce. That encrsase appears. prefer
able in the present situation of the United
SASS Il "a aIRlSS e Of war, liable to the ob;ec-
ton of its encouraging smuggling. 1t is
only IN the event Of that revenue being still
more attectcdby war ,han is apprehend-
ed, that resort 10 internal taxes either Iii.
rect Or indirect may become necessary.
If war should no, be resoyted TO it does
not appear requisite unless Congress should
resolve on permanent encrease Of the m;-
litary and naval establishments in time .of
peace, to lay at present any additional du-
ties, beyond mere continuance of the
two and q bali per cert. known under the
name of Mediterranean fund" r. has
already been sta cd that an encrease Of the |
impost would not supply the deficiency :
whlch may take place ia the year 1910, and |
exclusively OF the reimbursement Of the !
loan which may be wanted for the service
OF that year, all the national expenses cal.
ealated on peace establishment and on
the average OF the actual expenditures of
the SIX years 1902 1907, will not exceed
ten millions OF dollars fer the year 81 and
eight millions, after that year.
FOR the only portion Of the existing debt
winch according TO law it Will be practicable
after the year 1S1O,to reimburse, will. ex-
clusively of the annual reimbursement of
the SIX per cent. and deferred stocks, con-
SIS. only oftAe converted six per cert stock,
"hlch amounts to less than two millions Of
dollars. lhe payments, on account of the