Vermont telegraph. [volume] (Brandon [Vt.]) 1828-1843, 1840-01-15
Treasury on 31st Decem-

1t appears that the amount of the out
standing Treasury Notes mas never ex-
ceeded ten millions.
Exports and Imports for Commercial
gear Of 1859.
The Exports during the year ending
Sept. so, 1888. are computed to have
been Sll8,359,004. This is SO, 872, 393
more than those of 1888.
The Imports during the same wear
were about Sl57 609,56O, being the very
large excess of S43,892, l56 over those
during the previous year. This" coz
tlnues the Report, "may be solution of
a portion of the pressure in the money
market" The difference between the
imports and exports being S30,25O $50
in favor Of the former, is larger than in
any year, except three since 1889, and is
much larger than any difference in the
valuation of the same artices with the
profits in the foreign trade added"
" 1t must, therefore, except so far as re-
duced by an annual quantity of goods con-
signed here from abroad, and vel in store.
unsoId, be very decisive evidence of an
increased Indebtedness by this country to
other nations, and except so far as this
new Indebtedness may consist of stocks
sold and the proceeds returned here in
mere handize, it must furnish another
proof oil one immediate cause of the pres
eat pecunary PRESSURE
HeFe the Secretary goes into some in
terestlng remarks on our commercial his
tory, and he furnishes several statistical
tables. which throw new light on sever.
al subjects of Commerce and the other
branches of industry connected with the
finances"
Estimate of Receipts and Erpendityes
for 1870
From the best information possessed bv
the Department, it is computed that the
aggregate Of Receipts available for nub
nc purposes, will not exceed Sl8 600 600
OF which fifteen millions are from Chs.
toms, aud three and half from lands
Adding the balance on the Is. of Janu,-
ry 1910, the efficient means for 1910 will
amount to 320,l56,385.
II Congress should make appropria-
TONS 10 the extent desired by the different
| Departments. the expenditures for 1910
independent OF treasury notes, are es,inat-
~ At :. S20,0OOOOO
including all the Treasury
notes to be redeemed, the
aggregate expenditures
=, would Dc about $3.50. 2275O,Oo0
This wonld leave deficit in
the Treasury at the close
OF the year amounting to 2.5o3 6I5
Blu: there will be due from
the U. S. Bank in Spptem-
Der next, on its fourth
bon bond =. 2.556,576
The principal now due on
the Treasurer's deposits on
other banks which suspend
ed specie payments in
1887 Is .,....:.. 1.l49,eo4
Should all these claims be
collected In 1910, they
would preventa deficiency
and leave an available bal
ance in the Treasury of
HCdi ~ l.US2 S6S
1t IS not, however. considered prudent 10
rel y exclusively on the collection of these
debts'
The Secretlry proposed to meet the de.
fclency by reduction of tie aggregate
OF new appropriations and, if Congress
VIII not do that, he advises them that .;t
will be wise to provide seasonabIy in some
other way, for the amount of the con,in.
gent Deficiency
The Department is without any resort
temporary or permanent, in case of male
rial deflclencies-it having no power to
call upon the States for the surplus with
them deposited. The proprietv of the
provision, by Congress, of some perma.
ncnt safeguard under fluctuations of re-
celp!s and expenditures, is strongly urp
ed. 80
The manner of keeping the public
money, with the proper guards against
losses IS one of the prominent topics OF
the Report. The necessity OF some ac.
'Ion by Congress on the subject is pointed
the present system being an Imperfect {,
one,-though far less embarrassing to he ,
government than would have been moro ::
intimate connection with the banks dnr.
ing the late suspension.
On the subject of The "permnuent d.. !.
tc'ency apprehended as likely to hannen !.
n the Revenue, after 1911, under the :
operation of the present Tariff" the
oecrettry .postpones any particular re- :
narkstor the present,as he doubts whe,bsr
will legislate in anticination r. {
70 event that may possibly, but not prob. a
bly, be avoided. P'oo- s.