Portland gazette and Maine advertiser. (Portland, Me.) 1805-1818, 1813-06-21
Nationa, budget.

We pres nj our readers this day with the
report pf WILLIAM JoSss, Esq. acting Sec
re ary Of the Treasury, in the absence oI
MIR. GhLLATIS) upon the state OF our ma
tionai finances, from which It appears that
the expence ct the war, as far rs 1t b q .,fo
gressed, has exceeded our utmost fears, and
our prospects Tor the future are still more
gloomy
In Mr.. Galatin's Renort made 10 Con.
gress in Dec. 1871, he held up the idea ,hat
a war OF or years duration might be car.
ried on, and debt of only ~ millions OF dol.
lars be iscnrred, which in few years Of
peace could easily be wiped oH-It now APP
pears, thst at he close OF the present year,
being only IL months from the CONNIE nee.
ment Of the war. debt will have been al.
ready incurred for its support. OF more than
IS & an half millions of dollars, and the
money all expended.
Statement efaebi for she Var from JGne last
q .fanHa,1 neSi-teing Is months.
Loan All horised Feb. 1912, IL ,oco, 900
Loan authorised Feb. 1873,
of 16 mi,,lons, but beng OBJ
,sned at 20 per 100, or loss
of u per cent. . debt must
be created Of 1871, sls
Treasury notes issued payable
This year, aud in place of
which IKE sum is to be is
sued payable next year, thus
operating s q PERMANENT
Debt of 3.000,0
Debt already contracted, S 32,l8l ,5l3
In addition to which TO compl~,e the nec-
essay funds for the present year. II is pIo.
posed TO aceep, the loan offered BY Penn.
s,lvania q one r,illiop, and also 10 make q
further loan OF ftuo ninogs, IN lieu Of 40
much of The millions Treasury mites au-
tnorlsed Feb. 1915, sut not ISSUED. These
sums smoun, 10 pj..ious. 10 borrow winch
a, SO pes Loo o. IL per cent. discount. =
deb, must be crea ed of 3,4OS U90
;s s:ts s.. =; a: '; up S''' 'o'
What must be the loan TO, The year 1914:
Mr.. Jones says that 10 defrsy the ordinary
expences of peace establishment for hat
year, and 20 pay the interest and re mburse.
menis on the old funded debt and interest on
the new loans, the established revenues viii
fall shor: IN the sum of j, 500, 000--lo cover
which deficiency he estimates The proposed
internal tsZes TO produce 8 mlli,ons- and
the duty on Salt zoo, 900 dollars making
the sum wanted to pay the Ordinary ex
pences and interest of our debIs only
Blu, to meet the additional eIpences Of the
Ws,, Lean are again to be reiorsed 10, the a.
mount of which, al.ho' rot particularly ID,
cannot be leis than 90 millions. This, tho
not xvowed by MIR. JOSEF, 10 certai My TO be
inferred from other items in his report. VIZ
The whole eIpences Of the
Government, and for the war
for the Ian nine months. in
Guiding 'interelt and reim-
burf efnents on the debt a. -
moun,ed to % $4,000
Add for 8 morths 974s3
Make, the sIpeness for
year amour, to ss.s7s,sss
DEDUCT ,he ordinary peace
expences and iniefet OF debt,
t~c, as efimated tor the next
yeAr--e1cepting the interel
on the loan for thai year.
44o 900 dollars, Io.sso.ooo
Make. the Wa, expenses =.
Cor year. 2eoiS,3ss
But for additional enif.
meots, penGons and increaie
% the Navy, il is but resion- %
bic and moderate to add 1886 s67
-
Making the whole wary
sIpene.. for the yearisI4,S socoo,oco
to be provided for by loans