The Litchfield County post. [volume] (Litchfield, Conn.) 1826-1829, 1827-12-27
UNITED STATES TREASURY REpoRr,

as s about twice the length Cf the Presidents Mes
sage The most important parts however are selected
which we presume will be found sufficiently long for
most Ofour readers. Ii is AMI able Estate paper, and
presents the financial concerns of our lcountry in
very favourable light.
at is satisfactory to be able 10 state, Tin
the beginning that the revenue accruing for the
current year is likely to exceed Trather than
fall below that of the last. This the more
satisfactory when considered in coDncxion with
the fact OF the large importation Of foreign
merchandise in 1926. Although the.import-
atoms for the year ending on the SOth of Sep
tember last are believed to have been less
than for the year ending on the same dayTin
! 1925, those for 1925, commencing on the
! first of January and.ending with the close of
the present month, will, in all probability be
greater. The importations for the Sd quarter
OF the present year have been large owing to
the quantity of,woollen goods which thew
| embraceds If this on the one hand has been
cause spesiallyS operating to augment9 the
entire importatiOns of 1897, there are circum-
stances connected with other branches of the
foreign trade that have been specially in op-
| Grafton to diminish them. The opinion NAV
reasonably he entertained, founded on these
, and Other considerations, that the reaction
under the heavy importations of1825ghasgar-
| rived at Its close. Aside, therefore, from un-
toreseen events, the importations for the next
year, on which the revenue so mainly depends,
under the, present system of finance, may be
expected to prove sufficiently ample for eve
ry ordinary financial purpose. The actual
receipts in the Treasury during the current
year have been less in particulars that will be
presently stated, than thesssum' at ,whichethev
were estimated. They have been sufficient,
however, with the balance in the Treasury
at the commencement of the year, to meet
every appropriation fors the servicess of the
year, including the sum- of ten millions on ac-
count Of the public debt.
AS the state of the.public"de and man.
ncr in which the progress Of extlngushment
goes on from year to year, lis subject ON
which the nation desiressand expects to re-
ceive fall information, it will be exhibited to
Congress in the first instance upon the pres
ent occasion The exposition.of this subject
will he given in connexion with a short re-
Prospect.
From the first of January, 1896 to the close
OF the present year, there will have been ap-
piled to the principal OF the public debt, the
sum of Gl,297,91O dollars, and 9S cents 81
paid on account Of interest, the sum of H.
S6S.445 90, making total Of 3S, l6O,652 of
the application on account Of principal during
these years, 7,725.O34 SO were made in 1925.
7,O64,7O9 81 in 1925; and 6,5O7 ,466 81, will
have been made by the close of 1927. OF
the preceding sum of sl,297,21O 93,s it, is
proper to state, that portion Of it, viz. s.
100000 was borrowed under the act of the
26th OF May, 1924, at an interest of four and
half per cent. topay off an equal portion
n Anhf cfn % =
cent. The aggregate amount of the public
debt on the LIST of January, 1895, was 49,
720,57g go. To this must be added the
stock, amounting;to five millions. at.4 l-2 per
cent. created by the above Act, but which
was not issued until after the commencement
of 1925; and small amount of three Der
cent. stock that was subsequently issued.
namely. $1695, making the whole of the
public debt in 1926, 88,71O,588 85. The ag-
gregate amount at which it will stand on the
first of January, 1898, will be 67,41S,S77 90.
The whole of the q ,297 ,21O 9S. applied to
the principal of the debt in the three years
mentioned, have gone towards the reduction
OF the six per cent. stock. Five millions of,
this sum having been replaced by the stock
at l-2 per cent. issued uuder the act of the
g6th of May aforesaid, are. of course, again
tie be ranked as part of the debt. 1t fol-
lows, that debt in SIX per cent stock, to the
amount of sixteen millions, two hundred and
ninety-seyen thousand, two hundred and ten
dollars. and ninety-three cents, will have been
| absolutely extinSuishedin the course of these
years, by the surplus moneys Of the treas
ury, IN addition to 1l,S6S,445 90 paid as in
terests. 1t also follows that twenty-one mill
ions sixty-twO thousand three hundred and
thirty-two dollars seventeen cents, in princi-
pal and interest and principal, will have been
applied to the public debt during the: year
1925 and 1897, out of the means of the Treas
without any assistance whatever for loans.
This is an amount greater than was required
no it for these two years by the obligations
of the sinking fund act.
1t will be satisfactory'to Congress tosknow,
that during the three years.in question. be-
sides these payments made on account of the
debt and allother payments to meet the an
nual expenses of government, large sums
have been applied to objects wearing char
acter neither Temporary nor annual: by
these are meant internal improvements, ia
the form of subscriptions to canals, and APP
preparations for otherwise opening and ex-
tending intercourse throughout the Country;
Notifications and armories; ships of war;
naval docks and other establishments con-
nected with the navy; pnblic edifces of va
rious descriptions, whether for purposes ma
rine or civil; arming the militia the pur-
ehuao rs landa frO,, Tia Tndsana as.I .4Aa.