New-York tribune. [volume] (New-York [N.Y.]) 1841-1842, 1842-01-28
T Il E T RIBU N 8 :.
Finances of The United states.

Finances of The United states.
TREASURY NOTES.
The debate in the Senate on the proposition to
authorize the reissue of s5000,000 Of Treasury
Note, in addition 10 the 80, 600 600 Loan author
i.ed at the Extra Session but only in part neso-
tia,ed was prosecuted with much spirit through
four DAYS of las: week The final vote % TO , y
.vas close because some of the Wings would no;
yot- FOR Treasury Notes, while all The Opposition.
though protesting great confidence in President
Tyler and greatreadness vote any supplies neces-
Sary for the Government, put their nases on the
other side when they cane 10 the Yeas and Nays.
To snow the Financial condition and prosperity
of the Government as well a, the necessity for Inc
amour, voted. copy from the National Intel
gencer the following summary Of Air. EvASs,s
remarks:
Mr.. Evans s Chairman of The Committee on
FinaRce. called up the Treasury Note bill from! the
House of Representatives. amendments pro-
passed by the ComMii,ee We're hrsl read for con-
sheraton. The amendments we're read b. the
Secretary OF the Senate, and explained By the
Chairman OF the Committee.
Upon the important amendment 10 strike from
the Hoase bill the proviso deduc;ug the amount
OF Treasury Notes authorized under the bill before
The Senate from the amount authorized By the
Loan bill at the Extra Session Of Congress, Mr..
Evans took occasion to state what was the con-
dton OF the Treasury, ard the necessities which
demanded the passage of the bill.
Mr.. +. said the amendment was 10 strike out the
proviso OF the Hcuse, and to issue FIVE millions in
Treasury Notes instead OF fvc millions of the Loan
authorized the Extra Session OF Congress Mr..
L. SAID also that here he would make a srief cx-
PLANTATION of the condition OF the Treasury which
had made this bill necessary. Or the lst of
January the deficit in the Treasury SG00,000.
Nothing had been done since then to relieve it;
but, on the contrary, appropriations have beea
made which had increased the demand 10 such an
extent that the Treasury was now III want OF one
million of dollars to meet pressing and daily de-
rnands. During the first quarter ct this year the
receipts into the Treasury will not be sufficient by
more than three millions of dollars meet the de-
mands upon the Department. Besides this, adj
vanccs al this time arc TO be made TO the Pension
Agents, and others having demands upon the
Treasury.
1t is now nearly year since (said Mr.. Evans }
that in the other branch of Congress, advocated
an issue of Treasury Notes. had objection 10
them then, as have now and sustained their issue
as do now, only from the necessity of the case.
The call for them now should not BE regarded in
any other light than as pressing and unavoidable
necessity. As TO the character Of this issue, my
opinions have not changed. had hoped that the
Treasury No,eslast authorized would have been
the last Nor would these have been called for,
is we'll Known here, il the loan bill had been
carried out Circumstances, which it was not
now worth while to consider. had prevented the
negotiation Of that loan. The same urgent cir
cumSances we're the cause OF this cal! tor
Treasury Notes, with the exception that the
Treasury was in worse condition now than it
was then-a million of dollars being then in the
Treasury, with power also issue Treasury Notes
to relieve the necessities Of the Department
This BILL then, proposed to authorize an indie
pendent issue OF Treasury Notes, still leaving six
millions and a half to be negotiated of the loan of
Twelve Millions authorized BY Congress. The
condition of the Treasury at the end OF the year
would be Mr. Evans ,housh) such as 10 require
both the loan ard the issue Of Treasury Notes.
The year would place in the Treasury from all
sources whatever the following receipts:
From Customs Sl9 ,OOu,OGO
Miscellaneous 10000
Treasury Notes 80 900
Was this estimate too large then the
proper question to consider. Mr.. Ewing thought
II would be as follows: From customs 90. 100000.
,lhst estimate. however, wasba>ed upon newdut!es,
which Congress did not make. bus which the Secre
turN had recommended. Westruck from this amount
of twenty-five millions and half about 3, 900 600
byreillsng TO impose duties was proposed. This
estimate Of he late Secretary OF the Treasury would
leave abeut $l9,500000. The estimate OF the
present Secretary was $l9,000000; and the esti-
mates OF botlwelc therefore about The same. The
present Secretary estimates the recci from Gus
toms to be 3,400, eco tor goads received in 1841
and the receipts of this year to be $4,000, 600,
making the nineteen millions rs above stated Mr.
T. thought this would be quite much, II not more,
than we should receive. AT hrst=he thought the
estimates TOO low, but a careful examination
mad convinced him such The fact. 1t would
require, TO give US q net revenue OF Sl5,600,o00,
under existing laws--deductiag the expenses
of collection, &c. apon a gross revenue of
:l7 900 OO0-,hat We should make dutable ina
port Q: $50, 100000. In all, including The free
goods this would make an import, all told, Of
$ll6,000, 000--a very large amount.
1t would reqsire this amount of consumption TO
give us this amount OF revenue and his fears were
tina, the country could not lear it. He believed
,hat ii would be attended with great mischief 20
the country. and only increase its present sloar-
r2sSmentS.
MrE. ;nen=ree.red to table Of imports fros,
1884 10 1910, TO show thar the averag imports per
,ear for these seven wears, was 1922. 600, 000.-
The imports embraced Slo5.0O000o, when they
we're excessive, and 1872, 900 900 when they were
enormous.
Mr. T. agreed they were excessive in all those
wears Tor reasons growing OF the late loans and
other causes Some of them were low, except in
1910. Inthe present, state of the country ne hoped
the imports would no, exceed Sll6,000 O0O.And
how were these, he asked 10 come in We ex,
nor,eI ahout 1n3 GOA OO(j-Iasi wear : l01 $780,