Vermont watchman and State journal. [volume] (Montpelier, Vt.) 1836-1883, 1842-01-10
ss%,D4eaH 81
sso7,s57 90

lstJanuaiy, 1875, 1857 90
il being essential that this deficit, arising from
the failure i'll efecting more than portion of the
]onn authorized by Congress at its last session,
should be provided for by means that might
be at once available, it is recommended that an i'm
mediate issue Of Treasury notes be authorized, to
meet The emergency.
H. Of The estimate Of the public reuense and erpen.
ditures for the gear lS42.
,. The receipts for the year lS42 are estimated as
follows:
A Il. e s ssY duties assrns in ls o
From duties accruins and paya-
Bic in 1912 15,6oo,oo0 oo
Miscellaneous 10000 90
sls,2OO,ooo 90
From which deduct the estimated deficiency on
the ist Of January, 1919 ea7Sss 90.
the year ls4a sls,s7a,44o 10
The expenditures for the year 1872 including
s7,O00000 for the redemption Of Treasury
notes, estimated at. sa,7eiolo 70
Leaving be provided for this s4,2ls57O 60
The receipts from the customs for the year 1872
depending for their amount upon the action of
Congress, at it's present session. in the adjustment
of the tariff, it Is practicable TO form estimates
of the revenue which may De derived from that
source with much precision. THOSE now submit
ted have in view the present rates of duty, and
their final reduction 10 20 per cent adyaorem az
Ter the Goth Of June next The scale of duties
thus established has been necessarily assumed as
the basis of calculation for the remainder Of The
year l842, estimated with reference to the aniic
pated importations of that yenr, compared with
the average importations of former years.
In the estimated receipts, the amount which
will come into the Treasury from the sales of the
public'lands in 1912 hnsbeen excluded, as the act
~ Asl,
its distribution among the several States and Ter.
tptories.
- With regard TO receipts from the loan already
authorized by law, IL Is to he remarked that ow-
ing to the short period that is TO elapse before il
becomes redeemable, together with the unsettled
state of the money market, il would not be safe to
expect that any considerable portion will he OBJ
mined, Tor the service Of the year Is42 before the
expiration of the time limited for effecling il.
The law authorizing the issue Of Treasury
notes also expiring early in 1912, not more than
$4,000 it is supposed can be made available from
that source.
In estimating the expenditures Of the year 1912
il Is estimated that no other appropriations will be
made Than those now submitted In the estimates
from The Department.; and that the balance oil
those appropriations unexpended at the end Of The
year lS42 will be equal to that at the close of the
present year.
Ii is proper further to remark ,ihat estimates oil
expenditures can only do made Tor such as may be
required under existing laws, and arise in the or
binary operations OF the Government The pow.
er OF appropriation, as we'll as the power OF rails
ing revenue, being at all times In the hands oil
Congress, this Department cannot found estimates
upon its own sense oil what the public inieres
may be thought TO require, especially at a time
when our condition may be supposed to call fol-
more than ordinary means of defence and securi-
"
The amount required FOR the survey of the pub
Dc lands, and the compensation of the officers EN-
ployed in that branch Of the public service beins
payable cut ofthe proceeds Of the sales Of ,hos,
lands, is not included In this estimate of sxpendi
lures.
To meet the deficiency In the year ls42, amount
'ing to $l4 6,570,6e II Is respectfully recommen
ded 10 Congress to authorize
!. An extension Of the term within which thu
pesidue, not yet taken. Of the loan already author
lied shall be redeemable, amounting to, say SO,
100000.
2. The reissue Of the Treasury notes hereto
fo-e authorized by law, amounting to $5,000,000.
.. Tho balance still required Of $2,7l6,570, to
Eether WIN an additional sum oil S2000,000 4
surplus deemed Necessary In the Treasury, i
meet emergencies OF the public seryice,) to b
supplied from imposis upon such fnreign article
imported as may be selected, with due regard 10
rigid restriction, In amount to the actual wants O
the Government, and proper economy In lis nd
mintralion. ta.
III Rs-qdjustmsni Of The tariG
The last reduction Of duties on Imports prov;
ded for by the act of the Cd March 1889, viii tak
efsci immediately after the S0ih Of June pexl-
.