Alexandria gazette, commercial and political. [volume] (Alexandria [Va.]) 1812-1817, 1816-01-10
ANNUAL TREASURY REPORT.
Continued.

| of the arrearages Of the war department
land provision for the whole of tie
floating public debt and although 70,
The purposes Of Legislative appropria
Etion, the aggregate Of the expenditure
Ito be authorised for the year 1916, is ne
Icessarily made the basis of the official
Estimates, yet the uniform experience of
the treasury evinces, that the demands
for considerable portion OF the annual
appropriation will not be made during
the year.
1t may also be observed, that to raise
a revenue by the imposition, or even by|
the continuance of taxes adequate to tie
immediate discharge Of every unliGui-
dated demand upon the treasury at the
close of an expensive war, seems hardly
ito be necessary, under the present cir
lcumstances of the country. The pro
duct OF the revenue arranged in the man
ner which has been stated. may be es i
mated, after the year 1916. at an annual
amount of nearly four millions greater
than the sum required for the interest
ION the public debt, and for the probable
Expenses of the peace establishment. If
1.-THE public debt, therefore, were increas-
led in the year 1916, by sum equal to
the whole amount of the deficit as above
lstated an equivalent reduction could. be
detected in less than two years. The
-Eunexeeuted authority to borrow money
and issue treasury notes, already pro-
Ivided by the acts OF congress. is suffi-
Ecient to enable the treasury to meet the
'Ideficit in either of these modes, and,
consequently, no further legislative aid
Rexcept, perhaps, IN the modification of
tthe issues Of treasury notes. appears at
this time to be required.
I'LL. Propositions for the Improvement
i and management Of the Rerenue, and
| for the support Of Pu%ic Credit.
The propositions which are now to be
respectfully submitted, relate, lst, to tne
revenue; ID, to the sinking fand {; and
Esd, to the national circulating medium.
| 1. Propositions relating to Rerenae.
| The changes contemplated in the re-
[venne on the estimates of peace esta-
lblishment, having been already stated as
tine intended objects of recommendation.
lit is now only necessary to submit to the
reconsideration of congress, the measures
requiring their sanction for carving the
lplan into effect.
First. 1t is respectfully proposed, that
1.-THE act of the lst July, 1879, imposingi
an additional duty of 100 per cent. upon
1.-THE permanent duties on goods, wares
and merchandise, imported into the
United States from any foreign port or
Inlace, and the act of the 10th July. 1918.
imposing duty upon imported salt. be
continued in force until the 5Oth day Of
June, 1916.
| Second. It is respectfully proposed,
that the act of the e4th of July 1915, i'm
lposing duty on sugar refined within the
u. States. and TIE act of the Cd of Au-
gust 1918. imposing a duty on bank
notes, notes discounted. and bills Of ex
fchange, be continued by law, in fore e.
without limitation. but with proper a.
amendments, to render the collection of
the duties more equal and more certain
And that the act OF the 18th of Deem
her. 1914, imposing duties on carriages
and the harness therefor !; and that sol
much of the act of the Esd of December.
1874, as relates to the duties on sales att
auction, and to the increasing of the
r.; ties of postage, be allowed to remain IN
force.
Third. It is respectfully proposed
that there be reduction or modificahonl
in the following taxes and duties
1. That the direct tax be reduced from
six millions to three millions Of dol
lars, for the year 1916, and for each
succeeding year.
Q. That the duties on distilled spirits be
discontinued after the 3Oth day of
June 1916; and that the duty on Ii
censes to distillers be raised on that
day, to double the amount fixed by the
act of the Oath of July 1918.
IS. That the duties on licenses to retail
ers of wines. spirituous liquors, and
foreign merchandise. be reduced to
the rates Of the year 1918, with pro-
| per regard to the periods when licenses
commence and expire.
Fourth. 1t is respectfully proposed.
that the act of the 18th of January 1881
and the act of the eth of February
1915, imposing duties on various articles
manufactured or made for sale within
clio ITnitnd Sfatas and fna act nf the