Martinsburgh gazette. [volume] (Martinsburgh, Va. [W. Va.]) 1810-1825, 1824-12-23
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HOUSE OF REPRESENTATIVE!
SECOND SESSION:

OF the treasury, WHICH, OH HiOton VI
Mr.. Taylor, was ordered to be refer
red to the committee of Ways and
Means. and to be printed.
Treasury Department, Dec. ID, 1894.
Sra: In obedience to resolution OF
the House of Representatives, OF the
9th Of May, 1924, / have the honor
10 SUBMIT statement from the Regis
ter of the Treasury, by which il ap
pears that the duties on imports, which
accrued during the year 1922, amour
tedto S2G,095, 1856 81, of viii h S484
$50 az were received in cash, and the
residue of 3S23,6l9, $40 As on the Sc
veraI credits allowed by law; and it
Is estimated that if those credits had
been allowed on an interest of per
cent per annum. the interest thereon
would have amounted to 81 Isl 416
SO. I have also the honor to submit
that importations made by aliens, on
foreign account, may be distinguished
from those made by citizens OF the U
nited States, by requiring Of the per
sons by whom the same are entered at
the Custom House, to state, on oath,
on whose account the importation is
made
remain, with respect, your most
obedieni servant,
WIN. H. CRAWFORD.
The Hon. HESRY CLAY,
Speaker of the House Of Representatives.
Toe Speaker also laid before the
House the foIloum communication
from the said Department, which, on
motion of Mr.. Cambrelepg, was dis
posed of in similar manner as the last,
and ordered to be printed:
Treasury Department, Dec. IA, 1924.
Sin: In obedience to a resolution Of
the House Of Representatives, of the
l2th OF My, 1924. requiring the Sc
cretary fthe Treasury to ascertain and
report to Congress the rate of interest
at which the Bank OF the United
States will continue the loan of seven
millions of dollars, | have the honor
TO state that the Bank declines making
any calngein the terms on which that
loan vas originally made. Two let
tiers from the President of that institn.
ton, exhibiting the views of the Di
rectors on the subject are herewith
submitted.
remain, with respect, &c.
VIM IL. CRAWFORD.
The Hon. He II CLAT,
Speaker Of the House of Representatives
The Speaker also laid before the
House the following communication
from the same Department, winch, on
motion of 1-r. CAmbreleng, received
the same reference, and was ordered to
be printed:
Treasury Department, Dec. Il, 1924
SIR-ln obedience to a resolution of
the house House of Representatives, of
the 26th May, 1924, have the honour
70 submit two statements from the egis-
ter of the Treasury, showing the annu-
al and aggregate amount of bonds for
duties which accrued from the impor-
tation IF foreign merchandise, from the
Sd of March, 1889 to the 3lstDecember,
1928, and that the annual and aggre-
gate amount of loss which had arisen by
allowing the credits thereon authorised
by law. BY these it appears that the
whole amount of duties which accrued
during that periods S595,5la,93s So.
of which Ps,0S2, 6s3, 80 are estimated
to have been received in cash, and the
remainder, of S5a7, ,2s9 81, were ia
ken Oh bond 4; that, of the amount of
bonds taken, Si,475,626 CT are stated
to be lost, and S15S,l9I 81 are consi-
dered doubtful.-If the sum considered
doubtful be added to that stated to be
lost, the whole amount of loss. during
that entire period, is only about All
cents in each 100 dollars.
To require the prompt payment Of
duties would certainly prevent any loss
in future; BUTT would probably dimin-
ISL the amount of duties in a greater
proportion than it has been diminished
by the loss actually sustained under the
credit system. 1t is probable that the
amount of duties would be diminished
by the shortening the credits, inasmuch
as the length of the credit for the duties
operates as an encouragement to i'm
portations. With view, therefore. ex-
clusivel y to the revenue, it is believed
that no advantage would result from a.
polishing or ctrtailing the credits now
given for duties
But whatever motives there may be
for allowing credit for duties TO our
citizens no sufficient reason is perceiy
cd for continuing II To foraionare vbo