Rutland herald. [volume] (Rutland, Vt.) 1823-1847, 1840-12-29

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/ Columbia 10 certain individuals abroad.
/ The puncipal amounted TO I'll 500, 900, and
WIS 10 be paid IN yearly ensialmen,s OF SsO, 900
eah, beginning the LIST Of January, Issi.-
I Bii tie interest was payable quarterly, and,
( dying the last four years, has been regularly
4 dscharged by the Treasury. =
Within the past year, notice has been re-
Il chved from the agent OF the creditors that
pfment of the FIRST and subsequent nsialmcnts
d the principal is desired 20 be made, when
with punctuaiity. To insure a compl
s.with that wish, j, will be necessary, be /.
ts meeting the interests qusrefly, 10 adj
vance 100000 OF the principal nj the com
mencement ofthc ensuing year, and the resi-
due must DC paid, in like amounts, annuity
hereafter, III! the whole is discharged.
The canal stocks, assigned to secure these
payments, can, by the terms Of agreement, be
sold to aid In reimbursing them But, in the
hrst instance, the money is TO be taken from
the Treasury, under existing laws, which APP
proprate sufficient TO discharge all ou,stand-
ing debts, and sale, if able to be made az
forwards, must probably be a, grea, sacrifice
Congress may therefore, in its wisdom, think
further legislation on the subject expedient
This is all the funded debt not due, and
likewise all if not paid, cxcep, as before ex-
planned, the inconsiderable portions never yet
demanded
I In respect to the unfunded debt such small
parts as were created previous TO 1897, and
stu remain unsatlsted, must, it is presumed,
be IN that condition from some accident, which
has prevented request TO be made for pay
ment
Nor has any oft, which was incurred since,
falle, due, without being discharged when
ever claimed.
The whole balance of the four emissions of
Treasury notes made since October 1897,
which was outstanding on the LIST instant,
Amounted only to $4,433,s23. This is but
81 ,G5,4SS more than at the close of 1899,
Notwithstanding the great decline in our rev.
enuesnce, and the unex pectedly large sxpend-
itures OF old appropriations connected with
the Florida war, and the further adjustment of
claims in behalf of Indians.
Had these events not happened, less even
than that amount of notes would have been
issued, and the Treasury might, with ease
have redeemed within the year all that were
outstanding.
II could have done the same, also, with mos,
of them, had Congress, at the last session,
passed the declaratory act concerning the
tariff, modified the system of drawbacks to
correspond with the existing duties, and adopt
ed the propositions made for graduating the
price Of the public lands, as we'll as forming
new land districts.
! 1t must be gratifying to learn, however, that
though incommoded by the failure of those
measures, and the unexpected circumstances
before enumerated, the Department has been
enabled by other means under its control, TO
redeem every note presented, and to pay, with
punctuality, all debts tina, have fallen due.
| The credit Of the General Government has
thus been preserved so high, that, instead OF
sacrificing its securities at large discounts, as
in this and foreign nations some have been
compelled TO do with public stocks, the Treas
ury notes have continued at par during the
! year, though never bearing an interest higher
than 2-5 per cent, and subject even to the
stoppage of that after sixty days notice.
In fine, on a review OF the whole subject,
our situation respecting a public debt OF any
kind will be found most favored one. Re-
garded as an indication either ofthe good state
Of the national credit, or the ample resources
of the General Government, or the discreet
legislation relative to its fiscal concerns, it
will be difficult TO discover many eras more
prosperous in these respects, whether in the
annals of this or any other country.
The exports and imports within the year
ending September 80, 1910, exhibi. several
striking peculiarties While the foreign com
merce of the country constitutes The chief ba-
sis OF the revenue of the General Government,
and is indicative Of the extent of our surplus
produce, the statistical returns in relation TO
the subject must excite constant attention
among statesmen and political economists, as
well as merchants.
! The exports during the year are computed
TO have been Sl3l ,57l $50. This amount is
I.~ ~.O,.r",oos ...',,e .i.-'. ." 1909. pvt~it'-
standing the reduced price OF some Of our
| great staples, and is larger than ever existed
! before IN our history.
! On the whole exports, only 7,s00, 1871
I were Of foreign origin. This left those of do.
nestle origin at Sll3,762,6l7, being S6,si5,
/ 937 more than in any previous year.
The imports during 1910 were about $l0i.
| sos, s9I. This shows the great falling of
! from the previous year, Of s57 ,25G,2il. 1t
| furnishes, likewise, the principal explanation
OF the extraordinary diminuiiOn which has oc-
Cured in the revenue from customs; a dim-
mutton, however, which has been caused, in
part, by inyasions Of the laws, new radical
constructions lelt uncOuected, and the pay
ment oftwo large sums for bounues aud draw
backs, under an Omission in the existing tariff
10 reduce them IN a ratio equal 10 the reduce
lion going on in tine duties.
The difference between our exports and
imports, has usually been in favor of the lat
ter. Several years ago II ranged that way
about seven millions OF dollars annually; but
OF late the average has risen 10 near twenty
millions annually, the excess Of imports having
been, ia 1886 even, SCI -3i0,9 95, and in 1899,
Sill ,063,7l6. Bot during 1910, the eKiraoI-
binary occurrence Of a reverse 10 this state of
things has taken place. Such crcumslace
as the exports at all exceeding the imports, is
believed to have happened previously only six
times since The Constitution was adopaed: and