Virginia Argus. [volume] (Richmond, Va.) 1796-1816, 1812-01-30

70 hne Chairman Of ne Con,nlilee Of r. tyS
IREAsvR7- DspARTMsNT,
SIR,
! In answer to the first enquiry Of the cotn-
mittcc Of Ways and Means, relative to the
interest arising nthe proposed Loan of 200, :
600 dollars, necessary 20 supply the defici-
cncy III the receipts Of the year 1912. See
| leave TO observe that that item was not M
Guided amongst the expenscs Of that year,
because the estimate being made with re-
terence TO the expenses alone which had Ilre =
viousy been authorised by law, and cons;-
derab,e proportion ofthose on account OF the
public debt falling on the last day Of the
year, n would net have been necessary In
that view of the subject to borrow that sum
previous 20 that day, and the interest would
not therefore have become d charge till the
year 1913.
With respect TO the second inquiry of the
committee, 1t WIS certainly contemplated, in
conformity with the recommendation of the
PRESIDENT, whose expressions were adopted
III the report, To raise revenue "suffciens
at least to t.efray the ordinary expenses of
government, and to pay the interest on the
public debt, including that an new loans which
may be authorised" The sum of about nine
millions OF dollars was assumed as answer
'ny that description for the present, and the
expression Of " fixed revenue" which had
been used in reference to existing circuai-
stances, was inadvertently applied to the
case of war. 1t will undoubtedly be proper.
as remarked by the committee, to provide
annually an additiona! and gradually iucreas-
ing revenue sufficient to pay the interest on
the loans required IN the event of war. II
therefore, the loan for the present year will,
according to the suggestion of the committee.
amount TO ten millions of dollars, the receipts
INTO the Treasuary to be provided for The
year 1913 should, on those data, amount tn
about e,600,ooo dollars.
The committee ask in the next place, the
best opinion which / am able ~ form Of the
probable amount of receipts from duties on
tonnage and merchandise in the event OF
war.
as that amount will depend or the extent
OF the commerce between the United States
ana nations at peace with them, and on the
numbers OF the captures respectively made
ny cur own priv ateers, and by the cnerny, it
IS matter OF conjecture and not a subject Of
calculation: for which reason it was stated
IN the report, that that amount could not at
present be determined. Considering the RI
Sorous restrictions .aid by France on the conn
merce OF the United States with her own do
minions. and other countries under her influ-
ence the dangers to which our commerce
with the Baltic and with China will be ex-
posed the relations of England with Porsu-
gal and with Spain; and also that no incon-
siderable part ct the captures made by car
privateers will be sent into foreign ports. n
great detalcaton in the receipts ON duties On
| imported merchandise must be expected,
he amount, under existing laws and circum-
stances, has, from correct data, been stated
Id the annual report at six millions Of dollars.
1t would in my opinion be unsafe, in an esti-
mate OF ways and means intended 70 be relied
on with Certainty, to calculate in the event Of
war, on more than $500 600 dollars at the
present rate of duties.
10 the next inquiry of the committee, re-
speeding the increase of those duties which IS
thought practicable and advisable, il is an
swcred, without hesitation, that the rate Of
duties may in the event of war, be doubled
without danger or inconvenience. There will.
IN such an event, be less danger of smuggling
at that rate, than there is now with the ex-
istlnS duties. With that increase the duties
VIII still be much less on am average titan
THOSE pad onlmportationsinE England, France.
and most other Countries. And they will be.
Collected with more ease to government and
less inconvenience to the people than could
be devised TO the same amount in any other
manner.
A duty on imported salt might now be cal
| enlated on at least $500, 600 bushels but in
time CT warcarnot be estimated on more than
two millions of bushels, producing, at the
rate OF 20 cents per bushcl, 4OO,0O0 dollars.
The duties on tonnage and imported mer-
| chandize, including the former duty on salt
and doubling the rate of all the others, would.
according to that estimate, amount to
$500. 600
(which adding the proceeds
| Of the sales of public lands cs-
| timated, as by the annual report,
al COO 900
MAKES an aggregate OF 5000, 900
And leaYcs q Iehciencu nf nnn -