Constitutional Whig. [volume] (Richmond, Va.) 1824-1832, 1827-12-29


In obedience to the act, making it the dnv of The
SECRETARY oil the Treasury to lay before Congress
at The commencement OF every session. a Report on the
SUBJECT OF Finance containing estimates of the Public
heVehue and FubiIc Expenditures, and plans for
improving or increasing The Revenues from time TO
'i'ne the Secretary proceeds the task which that
duty enJons upon him.
Ii Is satisfactory to be able to state in the beriuup
hat The revenue accruing for the current wear is like
y 10 exceed rather than fall below that of the last
ms IS the more satisfactory when considered in
necuon WIN me tact o! the unusually large mporta
ions OF Foreign Merchandise in 1925. The inpo.ta
tons Tor That year having greatly exceeded their ave.
rage value Tor many years preceding, subsequent re-
ducton IN their value had been looked TO- under ano
ogons acs heretofore occurring in the Foreign trade of
the country This has proved 10 be less the case than
might have been anticipated. Although the innor,a
tons Tor the ear ending the 2Oi September las;
are believed TO have been less than for the ear ending
on the same day IN 1826, those for 1927 comneDcing
on the bSl OF January and ending with the close OF
the present month, w in all probability be greater
1t is on the year, calculated in the latter way Ihat m
annual revenue from the customs is estimated The
mportaons for the third quarter of the present year
nave been large owing the quantity of ooIie, combs
which they embraced. If ibis, on the one haud has
been cause especially operating to augment The eli,
tire impOftations OF 1921 there are circumstances c
nected with other branches of tie foreign trade that
J have been specially in operation TO diminish Thorn
The opinion may reasonably be entertained founded on
these and other considerations, that the reaction oder
The heavy nportaons OF 1895 has arrived AT ito ,osn
Aside the eore, from unior events the irpnrta
fions Tor the next year, which tic revenue so main
y depends, under the present system OF finance NAV be
expected TO prove sufficiently ample for every ordina
| ry hnanctai purpose. Tie actual receipts into the
Treasury, during the YEAR have been less in
particulars that viii be presently stated Than nc eurn
al "bich they were estimated they have been sufEi
cient however, with the balance in tbs Treasury at
The commencement OF the year, 70 meet every arnro
PTlatioDi or The service OF the year. including the sum
1 OF ten millions on account Of the pubic debt
As the state OF the public debt aud Inannt, in which
the process OF extiDgushmen goes on from year to
year. Is subject o.: Which the nation desires Aod ex
poets to receive accurate and full information will
be exhibited 10 congress in the first nsar CO mon rho
present occasion The exposition o: this SUBJECT VIII
be given III connection With short retrospect
From The first Of January, 1925 to tie close of fine
present. car, there Will have been applied to lie prin
c'pe OF the public debt the sum Of ~2G 297 2tO 49,
and paid on of interest the sun of as3 AZ
~ making otal OF S33 GO,GJG Is. OF the appIica-
IONS on account of the principal during these years
S1724, O34 So we're made in 1926; G7,O6I 700 @I in
1896 and S6,507 466 81 will have been made by the
close of 1922 OF the preceding sum of c1f 297 2lO
93h IS proper TO state that portion oft W. 81 600
600, was borrowed under the Ct the twentysxt Of
May, 1874 at an interest Of four aud half per cent
to pay Oft equal portion of debt standing at an inter
est ofsix per cent. The aggregate amount of tie pub.
NC debt, on The first OF January, 1926 was 7f0 572
3D. 10 this must be added tue stock, amounting 10 five
millions at d per cent created b. the above act buf
which was not issued until after be>comrnenceuent of
1926 and small amouot Of three per cent stock thal
wa subsequently, issued viz: Sf6,25 mali ne q
whie o. The public debt i'm 1925. g8S ITO 58a & ,
The aggr gate amount at which vii Stand on the frat
OF January, 1898, will be Se7,4I3377 %. The viii
OF Toe 81 ,297210 90, applied to the principal of III
deO 10 Tie three years mentioned have gone toward,
ne reduction OF the six per cent stock. Tive millions
% tuis su'n' h'T'n& Peen eaaci ~ to sock al ~