Lynchburg Virginian. [volume] (Lynchburg [Va.]) 1829-185?, 1832-12-13
TREASuRER'S REPORT.

he Treasurer before o.p raa sff- IL embrasos all
tae 4 ,oft ozsep. solae aainieresuag Gaaueial de.
tails
TIE RtyESr- fon tie J., January iese, %
the 1T 1luasry 1893. Hetaa and eita'D tori Is
stated At az 80 i5o 5l.nuiSins with 10 enlbuee
~ .hc Treasury the ls' 81 Jap arr 49, az ng
q, tatr oi y % 30 i53 %
Tho Expensli,otes pctihl mi estimated f5f the
same pef1j are sailed ~ S3l I'll | ,i66 80 faylne
AT estimated balance nibe treasury, on Tie 1T
Jananrg is32 tneludipg the Dlnish indemnify of
sl,6it lo1 3. Tins h9!ioea includes the NM
rdlbabie funds IN No Treasury Heretofore estilna,-
ed Al 400 900 dollars
Oh the iStJonatfv 1888 the whole public Debt
viii have been ,e1,,rsi to u 7,000695 50, winch
set off against the srgen millions Of stock IN lie
Baak ofrhe Dn'ej States, may 9iso be consdcJ ed
as enpctuely oxtinguisied as 10 Leave the VA
ton fee o!debt
The Imports of The war ending tic goth day q
ieHcuber last arc estimated al In G19 III Gah
lars and the Exports f'r the same peroi Al 80,
937, 9i3. OF which $T63 Oh sl5 were of do.nrstic
and 1886 l2s Of iofs'gn attleles.
The Receipts durihs tho year 1858 are estailtrl
at s2i 900 o)0, and the Expenditures faf tue sema
period for al ahects oiher ihan the Public Debt M
Of the Danish indemnity, tSGoI 900 which vii
be payable within the year The annual layenae
Tor some years To come Under the Revenue lazy oil
the last session IS cstmatrd nj 52l 900 900 and
the annual expenditure ut IL 900 900 dollars pag-
ing nm estimated annual surplus IN the Treasury
of 81 ,OD0o19 10 Which amount u REDUCTION Of the
Revenue is strongly recommended ethcf 10y il i'm
mutton of dofes on imports, or partly by re-
ln9nishmcnt OF ihe Public Lhnds is "A source of
venue suggested III She last Nlnpil r.,
port
Taking nm averaec Of tho iinportatlons far the
last SIX years poDabIe critcflon OF the ord na-
~ iluporlons for some years 10 come, the revenue
from customs. at the rites Of duty payable atter the
81 March next, may be estimated al eighteen nil
lions Annually. The public lands bank dividends,
and other incidental ,irtipls may nc estimated ct
three millions i-mak,n2 an aggregate revenue 81 4
bout twenty ono millions yrar. ia the last anna
al report The state of the iia'nc IS lhe plu5ablc
expenses for all obJecis, other than the pubic deb,
were estimated at fifteen millions. This is still
believed 10 be far estlmatr and If 50, thrre
will be annual surplus Of SIX millions Of loi
lars.
S.ll firmly convinced Of the truth of the reasons
then presented for utedutton oil the revenue 10 the
wants Of the government, am again prged by u
sense Of duty to suggest that further reduction 81
six millions Of ilars Lc made ~ fake effect after
the year 1888 Whether that shall consist alto
gethcr Of n dininulion pl The docs on mpos,s or
panty ola renqu'shfnenl of lie public lands rs =
source OF revenue as then suggested II VAL Tor thi
wisdom OF Congress 10 dctelmiuc.
Wrhou, adycrtng IA unnecessary det1il5 10 lie
considerations IN favor Of les sening tho existing
duties, which had ,4 honor To prcscrt, AZ we'll N
he II nuI Al al f, liz
cai resolutions OF the House OF Representatives,,
deem It proper to observe that IL my own mino
these contributions have lost none Of iheir urcr
but have derived new weight liom subsequent ~
llectlon
The purity and simplicity Of the Institutions IN
der which II has pleased ptovijouec to m.d,r Us
great and prosperous natlen The few objects. ant
those ot general nature 10 which the bowers q
the Federal GoVeruQcni eau be appropriately ap
pied, GuI the great diversity of interests, whlli
from their local and geographlcal Postipn prcYo'
III the several STATES cetlposIng The union, nlRcU
orsly required that the amount VI the public cypch-
dtrre should be regulated by prudent economy.
and that no greater amount u revenue air1u!d be
collected from the people an may be rec sssry IL
such scale pf cxpcndQure.
The main purpose of taxation b fife General
Government according the spirit ollha COnsti-
luton undoubtedly IS to pay The debts and 10 pro
vide for the common defence and GENERAL wetlre oI
he Union, by the nleans conf icl 10 CoNgirss. II
is freely admitted that tbs power nay and ought
to bc drecily eY1rcd to counthsact foreign ltgisa
tipn injurious To our own enterprise, and incidental
y To protect own industry more cspcra.lv those
branches notessAry 70 preserve within oprs,lyrs
the means of national defence and indepcnj ence.
And although the exercise ofthr power in either
/ a. IL, III
may call forth, the powers. Of taxation imposing
large and permanent hurtheus Tor the encourage
mant OF particular Classes counm he exercised, amt
by slender maoritics, consistently with 70 proper
regard for the cqua rights of all aud II - not to be
concealed thu, permanent $ stem ofhjsh pto;cc
ting duties directly t,ds % build up favored elias
ses, ultlmllcly vrsluIcai to the safety of tie
State
Deeply impressed w,;h th~sc reflections. which
are now rendered marc urgent by the reduced ans
limited demands OF the p1hlc service, | had tue
honor nj the last session otCongrcss. TO recon-
mend REDUCTION of the duties to the revenue stan.
dard The force oi'thcsc aud sminr considerations
and ofthat Recommendation, may he supposed to
have received, a! That tine, the sanction OF Con
grcss and 10 have formed motive Of the act OF Che
iiih OF July last Notwithstanding it was not then
deemed practicable fully to adopt he recommends
ton of the ID parment By that act, however
besides the positive reduction both in me rate and
IN the amount ofduty, the cyVclicncy Of adapting
the revenue TO the cXpcnl tutc aud of cq0nising
the public burthcns, was, TO great extent, &C
| knoWlcdged ond the expressive system Of minim
uns was, for the most part, abolished by tina,
| act, also, those articles principally necessary 1ol
The maintenance and clc,hlug OF the aborers oi ta'
! south and south west were tua certain degree re
! leved and both by its direct enactnems, and a.
! incident TO its man scope, 1t encouraged an al
creased consumption Of such articles as dcpende,
/ for their fabrication upon the raw materials ami
| productions OF the south. To extend and npyev'
the demand Tor those productions by substituting
far as practicable in general use, cotton iabncs