The Wilmingtonian, and Delaware advertiser., 1825-12-08

hall, being the moiety OF the loan OF hve MIL
lions, authorised by the Act of 26th May,
1924. The receipts into the Treasury from
the first Of january to the thirtieth Septem-
ber, exclusive Of the other moiety OF the
same loan, are estimated at sixteen millions
five hundred thousand dollars; and It is ex-
pected that those of the current quarter VIII
exceed five millions of dollars; forming an
aggregate of nearly twenty-five millions, IN
dependent of the loan The expenditures
of the year will not exceed that sum more
than two millions. BY those expenditures,
nearly eight millions OF the principal OF
the public debt have been discharged. More
than million and half has been devoted to
the debt ofgrattude to the warriors of the
Revolution nearly equal sum to the con-
structicn of fort!ications, and the acquisition
of ordnance, and other permanent prcpara-
tives of national defence half a million to
the gradual Increase ofthe Navy: an equal
sum for the purchases Of Territory from the
Indians, and payment for annuities for them
and upwards of million for objects of Inter-
nal Improvement, authorised by special Acts
of the last Congress. If we add to these,
four millions of dollars, for the payment of
interest upon the public debt, there remains
a sum Of seven millions, which have defray-
ed the whole expense of the Administration
of Government, in its Legislative, Executive
and Judiciary departments. including the
support of the Military an: Naval Establish
ment, and all the occasional contingencies
of a Government co-extensive with the Uni
: oil.
The amount of duties secured on merchan-
{ disc imported, from the commencement OF
the year, is about twenty five millions and
a half; and that which will accrue during
the current quarter. is estimated at five mil
, lions and half; from these thirty-one mill
{ lions, deducting the drawbacks, estimated
at less than seven millions, sum exceeding
twenty-four millions will constitute the rev.
| cnue of the year; and will exceed the whole
e expenditures oftheyear The entire amour,
n of public debt remaining due on the first oi
S January next will be short ofeighty mil.
: lions of dollars.
It BY an Act of Congress of the third o.
:, March last, loan of twelve millions of dol.
Ii lars was authorised at four and half pei
il cent, or exchange of stock to that amour
c of four and half per cent. for stock o
j. six per cent. TO create a fund for extinguish
v ing an equal amount of the public debt, bear
il ing an interest of six per cent. redeemablc il
II 1926. An account of the measures taken I
d given effect 70 this act will be laid before yo
e by the Secretary Of the Treasury. As til
object which it had IN view has been but par
N tally accomplished, it will be for the con
Ii sideration of Congress, whether the pow
re er with which it clothed the Executiy
at should not be renewed at an early day c
at the present Session, and under what modiii
d, cations.
,c The Act of Congress of the third of Marc
4, last, directing the Secretary Of the Trcasu
l. ry to subscribe in the name, and for the us
Estz y,,st fn., . c.,
d hundred shares of the capital stock of til
s. Chesapeake and Dclaware Canal Company
id has been executed by the actual supscriI
rs tion for the amount specified, and such {
e. ther measures have been adopted by that O
ar ficer, under the Act, as the fulflment Of j
ty intentions requires. The latest accounts re
he ceived of this important undertaking, at
VIC thorizc the belief that it is in successful pre-
gress.
tn The payments into the Treasury from pre-
r. cceds of the sales of the Public Lands durin
e. the present year. were estin ated ut one mi
ON lion of dollars. The actual receipts of tn
OH two first quarters have fallen very little sho
ed of that sum it is not expected that the see
- ond half of the year will be equally pre-
ductive but the income of the year fro
IS that source may now be safely estimated
ri a million and a half The Act of Congre
he Of 18th May, 1924. to provide for the eXtil
ne guishment of the debt due to the Unite
,ss States by the purchasers of public land
de was limited, i'll its operations of relief to tt
Ct, purchaser, to the tenth of April last I
en- effect at the end ofthe quarter during whic
we it expired, was to reduce the debt from tt
to seven millions. BY the operation CT sin
to liar prior laws of relief, from and since tn
as- of I'd March, 1921, the debt had been redu
of ed from upwards Of twenty-five millions
es; ten. 1t is exceedingly desirable that
nd should be extinguished altogether; and
ns facilitate that consummation, ! recommer
r. to Congress the revival, for one year NOR
de of the Act of the 18th May, 1924, with sue
BY provisional modification as may be ncccss;
int ry to guard the public interests against frau
of ulent practices in the resale of the relil
nj quished land. The purchasers of publ
ms lands are among the most useful of our f.
he low. citizens, and since the system of sal,
re- for cash alone has been introduced, great il
,n- dulgencc has been justly extended to thos
to who had previously purchased upon crcti
he The debt which had been contracted undc
is the credit sales had become unwedy, an
of its extinction was alike advantageous to tn
,p- purchaser and the public. Under the sy.
is tenn of sales nlatured. as it has been, by es
of periencc, and adapted to the cxigencies
I'll the times, the lands will continue, as the
re- have become, an abundant source of revt