The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1842-12-26
$38, ass, ll3 -
Sl,907,2a2 ~
Expenditure,
$I,05,s7I OIL

$33. ass Il3 -
expenditure, 81 ,907 2t2 ~
$lSa6su Of
This differs 800, 900 from the Report of the Sc
cretary OF the Treasury, but in looking over his
report, can one place where in casting he has
made a blunder of 100000. And as have
saved you much trouble in going through the Re-
port, which is somewhat meagre, you can give the
Secretarys arguguments and reasoning in his own
words. Here they are.
Assuming as is highly probable that the balance of the
loan authorised by the acts of 2lst July ls4 and 18th
apr nrio1 r. ths a ssa 49, VIII &c negot
within which can be TAKEN it has been included in
receipts Of tn. next half Year should however thi.
amount Of such balance, the deficiency thence ari-
sing may be supplied by the issue Of Treasury Notes
gust last TO ths amount of $s6O0Ooo which sum- to-
gether with that realized by the sale stock WILL It il
quate all the anticipated demands up 10 the SOh
June 1874 and if the whole of the balance of the loan
the on the 5
ls4s and seth June, 1884, will be indicated in tho fore
going exhibit.
It will be perceived that in the estimate of expenditures
subsequent to the first of January next the redemption of
treasury notes is not taken into account Bat notes
have been presented at the Department for redemption
since the passage of the act Of the 3st August and
nearly the whole amount cancelled since that day.
taken in pay ment of public dues should the notes issued
under the above mentioned be placed the foot
ing with the previous issues bear after
maturity payable hayeary until called in fer redsmP
expenditures for the ensuing eighteen months. 1t is
commanded therefore, that this be done otherwise the
expenditures during the period last mentioned,
cessarily be increased the OF probably three
iour millions of dollars in redemption Of issues under the
against unforeseen con, ngencIea, it is further recon-
mended that the existing authority to reissue treasury
notes, should be extended to the Both June, ls44.
The loan of S567a s76 g. borrowed under the prsv.
sons fthe act OF the 2st July s4 will be redeemale
pesue of treasury notes as s Tn
authorized by Congress- the whole oustand
ing together with that ofthe Issues that hereafter
made under the act OF 3ls August last will fall due prior
to the S0h June 1919 Although payment of those notes
may not be at once demanded when due ard the time Of
re of the loan OF lS4 placed at the pleasure of
Government yet the liability to pay those several
amounts must e4s and the means to provide for the
igency can be afforded only by further legislation.
The present tariff its features resembles 90 near
ly the bill submitted to Congress by the the
9th of May last. that the expressed the report
pcable to great extent 10 the of duties
tablished The period within which the tariff has been in
operation has been much too shsrt ruSh any decisive
evidence to its permanent influence upon importaons
The foreign trade othe country has continued to DECLINE
and mPoratons have been comparatively small since the
passage of the act How this things may
been influenced by the existing system Of duties it 10 i'm
possible TO determine The smalness oil the mportations
may be we'll accounted for by the embarrassed condition
OF the country aud extremely limited Of purchase
found greatly exceed the demand and the fall in the
prices omerchandize since the list September 10 suppos
ed to be- on an average not less than 10 per cent This
fact will be found verified letter from the collector at
New York. annexed hereto which reference respect
fully deemed conclusive 10
decline in the since the lat cannot
justly be referred system of duties and that the Of
feet the existing tariff remains to be determined by fur
Their and more satisfactory experience.
The importance of adequate provision for revenue can
he or too strongly urged upon the attention
Congress The resources OF the country are abundant
internal TAXATION either direct or Indirect has not !. ats
years been found and it is still believed that
system OF custom house duties may be made .u;centiy
III .p . 9, ~ y,e,u al iAeo"e oo"ncn'u'o WIN
e ss varas of ever.
rar lac orJ 'n;n.rsaI osraIpa .. $500. NE.
very srgs ana Sn,;s prese,
W., without pernsPs IN any considerable degree 'menng
an aad'n 70 the r :. e"
Sner Themselves Tor selection, ana rests win the MS
dem OF Congress to make that selection or adopt any other
a., a 1 pe ssush' 70 ee' ,ne :. Psn Gs M
meas VI SUSTAINING ioI ne ue noc Vi
'he soah,ry ano 'ne ., me PupTc cleam
the coun,rv rs inst ssrssnecs the nrids which ever
citizen must feel in the high Character Of its
all these require that tn public faith and The credit
OF that Government should be placed above doubt or
question.
Deeming highly probable that the policy Of establish
ing warehouse system might engage the deliberations
o. az ne presen. session .ne asnuon OF coec
subiec nv circular issued from the Depa on The
saS SoSsmoer last copy Of which, together with the
answers received and table OF exports OF foreign mer
chandise is annexed, 1t has been thought ADVISABLE,
Also Tor the sake of convenient reference in Of
such 10 attach to this repor COW of the
stntnte of the Sd and 4h William Nv which embodIes
,h srah.use system of f,roo, pr;,a;n l.; esrr,