Lynchburg Virginian. [volume] (Lynchburg [Va.]) 1829-185?, 1829-12-24
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The Inconvenience to which the Treasury
will b exposed by this caisr, ma re svarfsd
by redeeming III. stoce subscribed 10 tn Bana
Of th' Unit States. aud ilhoriling the Com.
mssioners o, the Sintmg Fund o pr, chase the
tire pr cents. hen, IN their opinion, the
terms o. W ich such purchase eau he msde,
vii rsuder it as .avCraDie 10 TIL United States
a. IN. p9vmen, of nlher stocks, then redeemn.
BILE. THIS stock is now quoted in this market a,
ont 81 IL. An unlimited authority TO re
deem IT, Wnnld, no doubt, somewhat enhence
the price but this effect would, III great de.
gree, be counteracted by the option To redeem
other stocks. II how yeI, the revenues an. IN
tae opiniu- of Congress, be more advauia
geonsly reduced o. otherwi disposed nj, when
the other stock, shat be redeemed, the pay
mrnt OF h three per cents. may be p stponed
subject IL the operation Of small sinking
Fund, TO be applied coudllonally, viz: When
the stock can be bought at "A reasonable price,
20 b. liked by law H. such Ease II will he ne
rcssary 10 the full employment of the present
Sinking Fund 10 give the Commissioners pow
er o purchase the aud ID per Its, nj their
market Price.
Ill. OF The Estimate, Of The Public Rersaas aud
Expenditures for the year 1880.
The amoLpt of duias on imports aud ton
n 90 " hich accrued from TIE lSt Of January
. thu 30,n September. 1899 is estimated nj
S2l 81 800 beng S2,62 800, less than tina
VIII, accrued in the corr pondlng period OF
the proceed og year THIS deficiency IL arisen
almost entirely IN the LIST quartz, of the pres nj
EAR, b. was probably caused by ~ exon!
sly imp fations which IA been nade IN thu
curly part of 1923 in ANTICIPATE Of ihe in
ensed duties. In the second aud third quar-
irrS If the year, however, III I'm or al ms
have so aug u rted, hat crung duties secu
ed in those quart RS are bu sly 800 less Than
lbs s cuei 4 IN the I'd aud I'D larrers OF III
preceding year Tins mp, ~ ment sIlll con.
inues. and ther- i. reason to believe thai the
du ie. accruug ~ TIE 4tn qIerer will nearly
eaull those Of the 4 quarter of list year.
Is worthy Of remark that the accrnng rreenu
Of the three f s. 0narteis o. the yen 1929 ho'
70 much he ow that OF 1923, is ony ZOO
Ie.s ma that OF the same pc iod of the year
1927
] {. dehentures issued, turing The three first
quarters { 1879. " re 3 059, 1000 %, which
exceed. III amount issue durt1e the Ger s
p ndmg period If the year 1923, by 90 47d
10
Tnr amount Of debentures outstanding on
he 80 IA OF September last, aui eharg-ablt
an IN the revenue ot 1880, was LII 1856, tx
CO. dug, by 500 992, he amount chargeahie
or the sam, day, III 1928, on the revenue Of
1929
The value of dom site articles. exported from
tn States, fr the year ending m thu 3Wt
of Sept asst is rs lmeted al $50 800 600, being
) 100 33l more than the value OF those expo /
ed during the same period. in tue preceding
year.
The amount " Custom IIouss bonds in sui
on the 3Orh Sept last. was + 59l, I'D 20. being
81 96l435 40 NOR" than on tn me day u
he preceding year. II may be observed. tina
H. great increase ni this item fer segera gears
past. has arlsen from the heavy failures III The
CHINA rade IN which seiies of bonds falling
due from he same houses, commence IN OF
wear, and terminate in another.
From a yipw ot all these facts aud considera'
ito IS, the eipts f., the year 1880 are cstl'
mated at $23 $40 600
Viz
Customs s2,OOooOO
I,nds I,.O0uUO
Rank Dividends 100000
lnci1enta receipts, including
arrears of internal dducs,
direct tax, and canal toiIs iJooOo
To which is TO be added the
balance estimated To be IN
the Treasury on the LIST Of
January, 1880 f4lO'oIo'
Making an aggregate of 2a25O,0.l 60
y" AZ ONp''''''''' 23,75552G 81
Viz;
laneoas 2473,225 G2
Military service, including for
tifcations ordnance, Indian
affairs, pensions, arnlDg the
movement. 452J, Is9 %
Naval service, including the
gradual Improvement OF the
Navy 5,25Zlll 10
Public Debt ll''oo'ooo w
Which will leave a estimated balance IN
the Treasury, the lst oi January, -,
1881, of ''"'''' ""
If the foreg ding estimate cf The revenue aud
expenditur, be correct, the sum at the disposal
of the Commissioners of the Sinking Fund, for
the wear 1880, will be II 500 900, and WHEN the
increase of popula ion is considered, may pro-
baby be safely computed at Sl2o0O,0oo for
he four succeeding Yeas. MS sum viii COM
nletr the payment of the whole Pubic Debt,
within the yea, 1894, without apply ing 10 bank
shares.
Shonld il be d termined to reduce the reve.
nne so as 10 correspond with the existing eH-
nenditure, il will require the exercise of a ~ se
forecast ON the part u the Legislature TO avert
..,ions injury. Merchants having goods on
hand liable 10 be affected in price by n change
in IN. fiscal system of The Government, have a
jus right to expect from It reasonable notice
corresponding with the magnitude OF the chang
nronosed. Ia accordance with these views, il
IS respectfully suggested, that Whatever dminu
,;on of duties shall be determined upon, il b,
made 10 take eject prospeciively and gradual
~.
period. 10 select the articles upon which Il
| CONNIE nee the reduction. As auxiliary To thu
undertaking, the annexed tables NJ and N hav'
been prepared Table NJ exhibits the amoa"
fdl,ies accruing on such articles Of importa
| ton, a, are generally Of foreign production
| Fable y exhibits the tariff Of duties impose
BY foreign Governments, ON such articles as a,
| 9roiuc ed in or exported from, the U. States
as ian as has been ascertained at the Treasur
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