The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1842-04-04


This return showed deficit of $s27 557. The secre-
tary estimated the public for isAa at $s67a io
after nay ing the deficit at the close Of the year. The
expenditures including the redemption Of 81 900 600 OF
Treasury notes. estimated at $s279l Ol0 leaving
deficit of To meet this deficiency, the se
cretary recommended three projects, one Of which was
to extend the time Of redemption for the balance Of the
$4,000 900 losn in order to raise money ito reissue
Of Treasury notes. and to raise IS 900 more
by increasing the duties.
Two Of these recommendations have been acted upon,
and the tariff question Is still 10 be decided II appears
then that the revenue from the customs ia 1871
Sl7,79Oe00, including the receipts Of the fourth
quarter after the tariff law Of the extra SEES
sion went into operation. The imports giving
that amount of customs revenue were much lar
ger than the general health OF businen warranted,
and large proportion have been unsslsable and
are entitled TO debenure. The state of the
country such to warrant the belief that the
imports for the year will its close be found to have
been very much less tn during the past year. and the
general average of the duties will probably up to June
next not much exceed the per cenage last ysar The
imports for the year ending September lsl, about
$3.50 900 900. The duties for the period Ia
CAT 537 average on the whole Of lla6 per cent
The imports for the year ending Sept st2, will pro
baby fall short SOs O00 if that they
cent there will be $4,000 600 from that quarter OF
this 81 600 600 estimated come in up the of
the current year. under the influence of large imports
and the operation Of the tara There will then be
$4,000 900 to come in up to Oct ls42 and perhaps 81
600 in the fourth quarter, making the for the
current year 900. From the lands according to
present appearance there will be receipts-from the
banks nothing legitimate there il then but
oOoout Of this il to be paid - 900 for inter-
est above and say per cent for sinking fund.- $780,
COO There will then remain $9,360o0o, Of which will
be paid in deprec lated Treasury notes say 900,
which the amount that falls due within the year.
cording the secrttarys report The receipts at the
custom hou,e thus far have been altogether in that
dunn There will then remain 81 800 900 Of cash to meet
S2b7ol 0cO which the amount Of the estimated expen
ditures minus the Treasury notes falling due. Against
this il to be placed the last issue 900 Of Treasury
notes end the loan Of 81 900, which make ST.
Ooo leaving still deficit 900, to which must
BE- added 10 per cent for probable loss the oan being
81, 100000, making 1881 ,0oo This sum cannot be
raised from increase Of the tariff in the present year
and must be provided for If at ALL by further loan. In
the succeeding year there will be still several millions
Of deficiency
In fact itself into this The current expcn.
ses Of the government estimated at $ls GEO. OOo
which must be added the interest and sinking fund on
debt Of at least $loyoeo,0so, which will be a yearly
charge Of near - 900 ooo making the current expend
lures $as and there source Of revenue but
the customs The question then IT, can $oe 900 an
nually be raised from the customs We think not n
the imports should be 500, ooo would REQUIRE an
average Of 30 per cent 10 produce T. rate which
become protective and dninih the revenue in the pre
sent state OF the currency The following table of
the amount Of dutiable imports and the custom receip
in the years 1885, 1888, 1885,
Average a.,