The Rhode-Island Republican. [volume] (Newport, R.I.) 1809-1841, 1820-12-13


The Annual Report OF the Secretary
of the Treasury was yesterday transmit
ted,to both Houses Of Congress. 1t is
of greater length than usual; and, as it
will be the ground work of,he fsca ar
rangemcn,s Of the present session, has
been looked for with much interest.
Not being able TO publish it to-day,
we have endeasored to ascertain the gen
eral nature Of lis contents, tor tie inior-
nation of our readers. We cannot,
from hasty glance, be expected to be
very precise in our account of il, but we
have from the surface Of the Report gath
cred the following facts:
The receipts into the Treasury for the
present year (including monies received
from loans) are stated at I6,8l9,637 dol.
lars. The payments into the Treasury
during the fourth quarter irom the same
sources are estimated at 3,43O,OOO dol
lars, making the total estimated revenue
of the present year 20,249.637 dollars;
which, added to tie balance in the Treas
ury on the lst day OF January last, a
mounting to 2,076, ,607, makes the ag-
gregate amount OF 22,326,244 dollars.
The expenditures for the same period
arc estimated at 25 O64 al5 dollars.
There will therefore, according to this
estimate, be a balance again,s the 1 reas-
ury, on the lst day OF next month, OF
2,636, 100 dollars--the receipts OF the a.
mount at which they were estimated III
the last annual report.
OF the expenditures ofthis year, it is
estimated that there has been and will be
paid, Of the principal and interest Of the
Public Debt, l0.74O,OC0 dollars, being
more than two fitths OF the whole current
expense Of the year.
The Revenue for 1921 is estimated
at 1850, 900 dollars, and the certain &
contingent expenditures at q, ,363,4l7
dollars; which, added to the balance a.
gains, the Treasury on the ist of January
next, will make the sum Of 24,O0l, $50,
and will consequently leave "a balance OF
745l $50 dollars beyond the estimated
mea,s, for which provision is to be
n,atie.o
We are to confess that this is not as
favorable view OF The state of the Tia.s-
ury as We had anticipated; bu, it is such
an one as leases no room for desponden-
cy, and involves no pcrplexing consider
a,ions. The public debt has been lessen
ed, during the past year, by redemptions
and purchases, more than it has been en-
creased by lcans and by the anticipated
balance against the Treasury on the lst
OF January next. The same may be said
Of the calculations for the next year that
the sum to be borrowed for the use Of
that year will be less than the amount of
principal of the public debt which will
be paid on within the same time.
For future years, the prospects are en.
couraging, the calculation being that the
annual revenue will, for several years after
1921, exceed The annual expenditure.
Mr.. Secretary Crawford, therefore,
suggests that il is not necessary at pres
ent to resort to additional objects of tax
alton with view to revenue, and urges
several disAuasives, which our readers
in due time shall have the pleasure of
reading. Loans for occasional wants he
considers as preferable. But, should Con.
gress propose sy stem oftaxation, loan
for tho service Of the next year, to the
amount Of the estimated deficiency Of the
Revenue, will yet be indispensable, and
may be obtained on eligible terms.
Ofa long report this brief sketch CT
course affords very imperfect idea but,
it will be more acceptable to the reader
than total silence respecting it.
.Nianon.a IatslEysneer.