Winchester gazette. [volume] (Winchester, Va.) 18??-1826, 1813-06-19
8. Expenses on account
|of the War aud Navy De-
!partments
~ 100000
Sss 100000

O%S SSU,O0U
OF the sum of S 1868, remaining
IN the treasusy on the 1st of April last
ia small part may be considered as ap-
plicable to such extraordinary expenses
ALREADY authorized, as may arise dur.
ing the remainder of the year and for
the same object, the sum of one million
OF dollars authorized by an act OF the
state of Pennsylvania to be loaned to
the U. States, but which was not offer
ed In time to he accepted MS part of
the loan of sixteen. millions, nav be
as a resource.
In this estimate the whole sum of
i've millions of dollars authorized to be
issued in Treasury, Notes, is taken as a
part fthe resources Of the present yrar.
bnt 1T Is not deemed eligible to enerease
the amount of Treasury Notes in circu
iation, and as three millions only Of those
authorized by the of 1912 were issued
IN that year and are reimbursable in
the course of the present year, it is res
pectfully suggested that in lieu of issu-
ing two millions of the five millions au-
thorized by the act ofFebruary 1913.
Congress should authorize an additio n
al loan for the same amount, it being
made condition uf such loan that its
terms should not be higher than those Of
the loan of sixteen millions already eff
fected. j..
The provision already considered is
for the service Of the present year only;
that which will be necessary for the
year 1914 requires an early attention.
Ii is difficult to estimate with accuracy
the sum which will be received into the
Treasury from the revenue as now es-
tablishedo During state of war, the
customs, at the present rate Of duties
have been Heretofore estimated to pro
duce FIVE millions of dollars. The, adj
ditionai tonnage duty imposed upon Co.
reign vessels by the act of the tst of Ju-
ly, 1912 producing about 100000 dol
lars year, is not included in that sum.
1t is believed that during the year 1sf 4
greater sum than five millions two
hundred thousand dollars ought not t o
he relied upon as receivable into the
treasury from custom house duties. The
sum arising from sales of public lands
may be estimated at six hundred thou
sand dollars, making together, g, so0,-
0oe dollars The interest alone. on the
public funded DEBT, OE temporary Icons,
and on the Treasury Notes, which will
become payable in that year, will l.
mount to four millions four hundred
Thousand dollars The other engage
ments, on account Of the principal of
the funded debt, oftemporary Ioans and
of Treasury Notes, which will become
reimbursabIe in that year, amount to
7.I50, 900 dollars, exceeding together.
by more than five millions seven hun
,dred thousand dollars, the estimated
mount OF the receipts into the Treasury
derived from the revenue as now esta-
Iblished.
This view ct the subject is sufficient
TO evince the necessity OF speedy and
etfectual provision for the service of
that and the ensuing years. The mode
and the extent to which this provision
should be carried, have been heretofore
suggested from his department TO Con
Sress, and have received the cousideI IL
ton of that body. The expenses of the
peace establishment of the u. States,
and the interest on the publis debt, IN.
Guiding that on the loans made for the
prosecution of the war, are believed to
be the least sum that ought under any
circumstances, TO be raised within each
year. hese, If the expences of the
peace establishment are taken at the
sum necessary for the ordinary expen-
'ditare Of The United States previously
to the additional ornaments made in
the year ls12 with view to an ap.
preaching state of war. ard including
the interest on the loans of the years
1912 and 1913, aud also OF that which
will probably be necessary in the year
1914, will amount, during that year,
60 eleven millions four hundred tilou-
sand dollars, viz.
The eXpence OF the peace
establishment, exclusive
ofthe additional force au-
thOrlsCd by tue acts pass
ed during the year 1913,
may he estimated at $1,000 ,OOC
I ] he interest on the
| public debt dur
ing the year 1914
| VIII be as follows
Oh old funded
debt 100000
On 6 per ct, stock
/ Of 1912, inelud-
! ing temporary
loans received IN
part of the loan
~ 81 millions,