The enquirer. [volume] (Richmond, Va.) 1804-1815, 1812-03-10
was predicatcd. as it was in his power to

nieDt should at no time be perfr;s.ca to suf-
Ter for the want OF pecuniary means, com
mcnsurate with its cXigencies, their attcnti-
on, it would be recouected, had hsen at a
very carly period Of the session particularly
drawn to this subject, by that portion of the
message of the President of the y. States,
which had been especially referred to their
consideration, and in witch the necessity of
producing revenue g sufficient at least to
defray the ordinary expences of govern
ment, and to pay the interest or the public
debt, including that on new loans which
might be authorised"-was strongly cnjoin-
ed ; it was for the purpose of carrying into
effect this provident recommendation OF the
Executive, that the earnest attention Of the
committee had been bestowed upon The pre-
sent and future STATE of our financial con-
Germs. Under the expenditures already au-
thorised by law, and in the event ofthe war,
which the acts OF every branch OF the go
vernment gave us the highest reason 10 ex
pect was likely to occur within period not
very distant.
The amount of those expenditures both
ordinary and extraordinary were detailed at
large in the report. Those of the former
description which fall upon the present year,
have already been provided for from the re-
venues which we'll be receivable during the
year, and from the monies rem aiming in the
treasury at its commencement, and no fur
Their provision Is necessary on this account.
In relation to the extraordinary expend-
lures on which the estimates of the commit
tee were founded, and for the defraving of
which the house had just now authorised a
oan OF eleven mil!ions-it might perhaps be
imposed that some of the heads Of expcndi-
ture authorised might be rather nominal
than real, and at any rate were much lar
ger than could in all probability be expen-
ded during the present year. This was
probably true-but he found, that in the e.
vent OF actual war during considerable
portion OF the year, and on that basis the
committee grounded their estimates, there
were other branches of expenditure which
would turn out as much higher than had as
yet been calcdlated-and it would be recol-
lected that bill had within few days pas
sed the House, by which an additional an
nual expenditure of 100000 dollars was au-
thorised for arming the militia, which had
not been brought into the estimates of the
committee. For the expenditures of the
present year both ordinary and extraordina-
ry excepting only the sums necessary for
the annual reimbursement of the principal
OF the old debt and which remained there
after to be provided for by new loan,) pro-
vision had thus been already made by the
the provision necessary for the two sucs:ee-
ding years. ''Fhe committee have estimated
both the ordinary and extraordinary ex-
Pcnditures OF those years, at about the same
us are contemplated by the appropriations
tor the present year, adding for the year
1913 the interest on the loan authorised for
the present year, and for the year 1914, the
additional interest accruing on the expected
loan for the service of the previous year
this estimate, calculating the receipts into
the Treasury from the present sources of
revenue at but little more than three mil
lions, left deficit of more than seven mil
lions for the payment of ordinary expences
and interest for 1914, and Of more shan six
and an half millions for 1918. 1t was true
that the estimates of the revenue from pre- :
sent sources for those years, was and must be
almost entirely copjectural and most gen
tlemenit was believed We're disposed to es-
innate it considerably higher. We are all
apt to be disposed i'll times of difficulty to
look ather upon that side of the picture
winch was least couraging-nothing con-
hdent could certainly be predicated on a
state OF things which was altogether sonew
to us OF late years as an active war with G.
Britain--5ut SO far as we can calculate upon
any known data, lie had much reason to
tear, that this conjectural estimate was not
greatly underrated. We have no document
which gives us the respective amount of out
actual importations of articles ON which i'm
post duties are collected from different To-
reign countries for the two or three years
past--out from information laid before the
house IN the year 1905, it appears, that on
an average Of the years 1902, 8 ard 4, our
fmportations from all parts of the. world,
were as follows: from British duyninions
goo dollays--snorthern European DOW :
crs 7,094,000 dollars Holland, France.
Spain and Italy IS AVS, 900 dollars, Portugal
1,085,0G0 dollars, China and other native
Asiatic powers 4,s56.O0o dollars, all other
countries S3B, 600 dolls.--total rs ,09l, 900
dollars. When therefore it was considered
that nearly half of the whole amount Of our
impost duties accrued on appropriations from
Great Britain, which, throwing ont of view
such Illicit trade as might take place in a
state OF war, must be entirely suspended !;
the general exclusion which it was to be
feared we mast be subjected to from the
Baltic, Mediterranean and Asatic trade,
he did not know from what sources of legi-
Innate commerce we could fatter Ourselves
with the prospect Of much greater revc-
nue. from external sources than the amount
which had been assumed by the committee.
especially when we contemplate the increa-
sed interruptions to which all our other
branches OF foreign commerce must be ex :
posed by capture and the general hostilitics
OF the enemy.
Iii assumed by The committee, that the
extraordinary or war expenditures of the
two succeeding Years should also rest upon
further loans and it is proposed that re-