The Virginian. [volume] (Lynchburg [Va.]) 1822-1829, 1826-12-11

sutcfeata ~ aTe9ucej return 10 The Ifeasul }
al h0nc The net refenus vi tie present yeaI
vii not equsl thai oftnc last And the receipts
oii'a winch 10 cunc viii fall short of those
Ia the current year HE dimiuulon, however
Is ~ pan attributable to tie iouIisiii,g eondi
ti1n u some o. oui domestic hanniaeIures, ano
80 far Is compensated Dy Gn equivalent laolt
profitable 10 the n.Jion. II Is a.so ~ ~ graf
lying to perceive. pial the deficiency IA the ~
venue, while II scarcely exceeds tire auliclpatlpn'
Of tn last years estimates from the Treasury
has not interrupted tbs application Of ln0fe than
eleven millions DUNG the present year. 10 bIt
discaafge Vi the principal aud interest oi tic
debt nof the reaa,ii1n Of np"ards OF seven
millions ot The capital debt itself The balance
- tie I,eiaury on the FIST Of January lat, va,
i've millions tsu hundred aud one thousand sfx
hundred ntd nily dollars anl tony three cents,
Inc receipts rom thai timc 10 the 18th sept
last, were nineteen millions i've hundred & eighty
five thousand nine hundred y thry to- dollars =
fifty cent. The receipts Of the current quarter
estimated at six millions vi dollars, yield, with
thc sum, already received, Il revenue OF about
t"rdy .ilfc millions and Il matt tpy the year
he expenditures for the three first quarters OF
tie henr nave amounted to eighteen millions Sc
zen hundred and fourteen thousand two hun
bred aud twenty-siX dollar, and sixtg-si cents.
expected. including the two millions 81 the pm
epal dcb to be paid, to balance TIE receipts So
that thr expense, Of the year, amount to up
wards Ola million less Than its income, will
leave prOpor,iuually increased balance IN the
Treasury on the hrst OF January, 1877, over
thai Of the first OF January last Instead Of five
million, two hundred thousand, there viii be six
millions four hundred thousand dollars,
The amount Of duties secured on mcrchan-
disc imported ttom the commencement Of the
year until the BON of September, Is estimated at
/ y-one millions Two hundred aud fifty thou
saud dollars, aud the amount which Will proba-
bly, accrue during the present quarter i cstima-
tel al four millions Two hundred aud fftv
thousand, making the whole yen twenty
i've millions and a halt, which, the draw bacl. ;
beng deducted will leave clear revenue Il ON
tic customs, receivable ia theycar 1877, Of about
twenty millions -four hundIcd thousand dollars
which, with the sums to be received from the
proceed, of puDuc lands. the Band Dividends,
and other incidental receipts, Will form an az
gipgdlr Of about twenty three millions, a SUN
falling snort Of the whole expenses of the present
yenr, iIttlr moro than the portion OF those cXpen-
diotes applied 10 the discharge of the public
debt, beyond tIe nnuai Appropriation of zen
millions, by tho act of3d Mach 1917. Al the
passage al that act the public debt amounted ~
one manfred dud twenty -tIrcc millions aud Il
nall On the iii Of January next, it Will be
snort OF ruty-io millions. In The ldpse of
ihrse ton years, fifty million oipub &c debt with
TIE annual charge Of upwards Of turcc million,
Of interest upon them, have been cxtmgulshed
81 tar passage oil thai act, OF the annual appto-
piidtion ol thc ten millions, seven were absorb
81 IN Repayment OF interest, and not more thm
ih,'c luns vent 10 reduce the capital of the
drnt. Ofthe sdmc ten millions. at TN, time
scarcely -four are applicable To the interest and
upwards 81 ,lX ar effective in melting down the
clpifu Yet ou experience has proved that u
revenue consisting 50 largely OF lmposts and
Ionuagr cbD, and flow, 10 AN extraordinary
extent, with all the fluctuations incident 10 the
general commerce OF the world It's within our
recollection that even IN the compass of the same
last ten wears, the receipts OF the Treasury were
not adequate to the expenditures of tn year; ;
aud that IN two successive years it was found
necessary 10 resort To loans TO meet the ENGAGE
mcnts of the natiou. The returning tides OF
succeeding years rcplenshcd the public Golfers.
until they have again br"un To feel the yicis-
sltudc, ui decline. 10 produce these Alternate
on OF tuilness and exhaustion. the relative op-
Grafton oiabuudaut OF uniruiilu seasons the ne
guiallOns Of foreign Governments political fcso-
lutions the prosperous OF dccaying condition OF
manufactures, commercial specuationS and ma
ny Other causes, not always 10 be traced ,ar-
ously combine We have found the alternate
swcls aud dimmuons embracing periods OF
from two to three Years. The last period OF de
preston 10 us was nom lSIa to lo22 The
corr, pondlug revival was from lS23 to tar conf
mcnccmvlt of the present year. still VI nave
NO cause 10 apprchcnd depression comparable
To that OF tlr former period, even 10 anticipate
intffu,. t,s,u., tho ,i,iIi,