Herald of the times. [volume] (Newport, R.I.) 1830-1846, 1841-12-30
From the National Inisligoneor OF the slst
THE ANNUAL TREASURY REPORT

Was, as we expected, sent TO both
Houses Of Congress yesterday. IL pas
aRk so rapidly into the hands Of the print
o. 10 Congress, that we had only time
to cast transient glance over it, with
view to lis prominen, points.
The state of The Treasury is Of course
the same as it was represented to be in
the Presidents Message to Congress
that is to say, there will he un estimated
deficiency in the Treasury on tho LIST Of
January next, requiring immediate pro-
vision to meet it, of SG27 $50 which
deficiency is caused by the failure to OBJ
tain the necessary amount Of The t~ elvo
million loan, in consequence Of the short
ness of the time il had to run. MIR. Sec
rrtary Ewing, the reader may recollect,
when he asked for the loan to relieve
the Treasury from membranes leii by
the late administration, recommended
that il should be authorised for term of
eight years; but, in passing the loan
blll, Congress limited the loan 10 three
years, too short term 10 invite invest
mcnt of funds IN j, by capitalists. This
deficiency the Secretary recommends
shall by provided for by immediate au-
,horiiy being granted 10 issue Treasury
notes to the required amount.
For tho next ycar (l842) tho recei pts
into The Treasury Excluding the pro-
ceeds Of sales of public lands) are csii-
mated at S. ; 200, 100 from which is to
be deducted S627 ,559, tho estimai ed de-
ficiency at the end of the present enr.
The expenditures for the year, including
the amount necessary TO redeem seven
millions of outstanding Treasury notes,
are estimated at S32,79I ,0IO; leaving
to be provided for, on account of the ex-
pendiures of 1912, the estimated sum Of
Sl4,2l8,51O.
To meet this deficiency in tho reve-
nue. for 1912, the Secretary recommends
to Congress TO authorize an extension Of
the term Of the portion Of The twelve mil
lion loan not yet taken, and u reissue Of
the Treasury notes heretofore authorised
by law, amounting to Eve millions of dol
lars The balance Of the deficit in tho
ways and means, together with two mil
lions Of dollars, a surplus deemed neces-
sary TO be in the Treasury to meet emer-
g"nces in the public SERVICE to be sup
he'd from imposts upon such foreign arti-
clcs imported into the United States Gas
may be selected with due regard to a
rigid restriction, in amount, to the actual
wants Of the Government, and a proper
economy in its administration.
This is the outline of the budget, M it
is very plainly and clearly stated in tho
Secretary's report. The report then
goes into an argument upon the princi-
pies which ought to govern the adjust
men' Of the tariff to the wants of the Co
vernment Of which, as our readers will
soon have IL boiore them entire, we shall
not attempt an abbreviation.
sJWe nro glad TO see j: stated that
more than one hundred members Of
Congress have with them this year their
families and a season Of unexampIed
gaiety is in progress. The "Lords Of
creation" never aci less like brutes and
more like men," than when subjected TO
female influence. The National lntelli-
gcncer says: "What this unusual siten-
dance Of the faircr part Of creation Por-
tends, we csnno, certainly sny but, for
ourselves, we are disposed te hail it, like
the rainbow tha, spans the heavens with
hs bcauteous arch as tho promise and
the pledge Of n brighter and sersner
day - .Mer. jour.