The Massachusetts spy. [volume] (Worcester [Mass.]) 1821-1823, 1823-01-15

100 DdidnCe OF ,ooi ,oSZ "a.
The actual receipts into the Treas
ury during the three first quarters of the
year 1922, are s l4,745, 408 rs, and
those estimated for the fourth quarter,
at fSve millions making the total re-
ceipts for 1929, $40, 745, 408 10; which,
with the balance in the Treasury on the
1st January, 1929, forms an aggregate
of S2l ,427, 900: 80.
Expenditures, for the three first quar-
tiers Of 1922, are S 12,278,653 80 those
during the fourth quarter, including the
redemption of too millions of six per
cent. stock, of 1920, sac millions; max
ing the total estimated expenditure of
the year 1922, Sl8.973,653 80; and
leaOing IN the Treasury, on the first Of
Jan. 1928, an estimated balance of
SIS, 48,347:67!
OF the publick debt, it is calculated,
that on the 1st of Oct 1921, the total
amount of the funded debt, unredeem-
ed, was $685. ,2o5:O2 and that on
the 1st of Jan. 1928, this debt will be
reduced to s 9o,777, 43l go.
The amount Of Treasury Notes, out
standing, on the 1st Oct 1892, is esti-
mated at S27,437 90; and the amount
OF Mississippi Stock, unredeemed, on the
same day, at S26, 1885: 81.
1t is estimated that the value of do
mestick articles exported from the Uni
ted States in the year ending o. The 30th
Sept. last, has amounted 10 S49,874,-
o79: 90, and that foreign articles ex-
ported during the same period, have a.
mounted to S22 1856, 2o2 : 90.
The Secretary estimates that the re-
ceipts from the customs, and other in
come, for the year 1928, will be 4 3d.
0l6,135: Sc. Expenditures for same ;e-
Rod. S 1909, 597 :22. Leaving in The
Treasury, on the LIST Jan. 1923, after
satisfying the current demands for the
year 1928, sum estimated at
S7,956,538: 81!
Although the facts already disclosed
justify the conclusion that the importa-
tons of the present year exceed the
value of domestick articles exported
during the year, yet there are no means
of ascertaning the extent Of that excess.
II the custom-house documents were to
be considered conclusive evidence upon
this subject, it would be apparent that
the nation has, through the whole peri
cd of its existence, imported more in
value than it has exported. But the
fact is incontestible, that the United
States have enjoyed more uninterrupt-
ed prosperity, and have increased their
capital to greater relative extent, than
any of the nations with whom they have
maintained commercial intercourse.
Although no calculation has been COM
pleted, showing the average rate of duty
upon the value Of foreign articles i'm
ported into the United States, it is pre-
sumed that an importation of S6O,OOO,-
900 Of foreign merchandise will MOI pro-
,duce less revenue than s II, 100000.
AS the receipts from the customs during
the year 1923 have been estimated at
5 100000, it is probable that the re-
Ceipts from the same source in 1894,
which will depend upon the importa-
tons of 1923, will not exceed Sl5,O00,-
900. Under the most unfavourable Cir
cumstances, it is believed that the re-
ceipts Of that year will be sufficient 10
discharge all demands upon the Treas
ury which may be authorized by law.
If the current appropriations for the
year 1895 shall be equal to those re-
quired by the estimates of the ensuing
year, the expenditure of that year may
be estimated at S 28,253,597 :22.
The means to meet this extraordinary
expenditure, the Secretary calculates,
will fall short 5 100000.
Estimating that the ordinary customs
will not be sufficient to meet this expen-
diture, the Secretary recommends an
augmentation of duties on certain arti-
cles of importation. He recommends
that all articles composed Of wool, cot
ton, flax, hemp, or silk, or of which any
of these materials are component part,
be subject to duty of 25 per cent. ad
valorem, The duties also on glass and
pa3er, on IRON and lead, and on all arti-
cles composed of the two latter materi-
ais, may also be increased, with a view
to the increase of the revenue.
The duty on various other articles,
says the Secretary, not in any degree
connected with our domestick industry,
may, likewise, be increased with view
to the augmentation Of the publick rev.
enue If the existing tariff shall, during