The Hillsborough recorder. [volume] (Hillsborough, N.C.) 1820-1879, 1842-01-06

which will cnme into the Treasury iI0m
the sales Of The public lands in ls42 has
been excluded. ~ che act Of Congress Of
the 4lh Of September last diIerls its ds-
lribulian among the several States and
Territories.
With regard 10 receipts from the loan
slready authorized BY Law, il 10 10 be re
marked that, ewing 10 The short period
which is 10 elapse before Il becomes re-
deemable. together with The unsettled state
Of The noney market, il would not be safe
10 expect That any considerable portion
will be Obtained. Tor The service Of the
year 1912. before the expiration Of the |
time limited for slTresipg n.
The Law sutharizIng The issue offres
sury notes slsa expiring early in ls42.
not more Than $4,000. IL IL supposed.
can be made valuable from that scOuree.
In estimating the expenditures Of the
year ls42. IL 10 assumed that no other sP
propri.uons will be made than those now
submitted IN the estimate from The several
Departments; and thar The balance Of 1h"se
\ appropriations unrxpended al The end al
the wear lsi2. will be equal 10 that al the
Glaze Of the present Sear.
II 10 proper further 10 remark that
estimates Of expenditures can only be
made for such - may be required undei
existing Laws. and arise In the ordinary
operations Of the Government. The pow
sr Of appropriation. as ~ell as The power
of rai.ing revenue. being al sll times IN
the hands nf Congress. this Department
cannot found esumaIes upon .. own sense
of villa, tie public interest may be 'h"ught
I'd require. especially at time When The
condition ol ,Ie county may be supposed
70 cell fur more than ordinary means oil
5 defence aud security.
The amount q. CURED for surveys ot tile
public lands, aud the compenssti"n oil the
officers empi"ytd IN that branch Of The
public service. being payable out OF the
proceeds Of tie sale. Of Ih"se l..ds. Is
not includ,d ~ THIS estimate Of exPsn
dI,ure.
To NEE, the deficiency in the yea
1912. Amounting 10 sl4.2ls,570 6s. u II
respectfully recommended 10 Congress u
anthorze-
>, 4. An extension Of The term within
which the residue. not yet taken. 81 tn
loan already sutl,urized shall be redeem
able, amounting To-, say s6.500.O00.
30 Q. The re issue Of the Treasury note
- heretofore auihorized by law, amounting
10 IS 100000.
~ 3. Tue balance sill required. of -,
1850 6s. together With an additions
Gum Of $4,000 900, e surplus deeme
necessary in the Tie.sury Ia meet eme'
rcnces of the public sersirs.) IL be SUI
piled from ilnposts upon such foreign arr
cles imported as may be selected, Ait
due regard tn rigid restriction in smouI
~ the actual wants Of The GOvernmen
and proper economy in i,s sdmInIssr'
tion.
IS iii. Readjusi,nsnf Of the Tdri6.
The last reduction Of duties on ,mpof
provided for by the act Of the ID Marc
1888. wiIl take effect Immediately all
the 3Olh cf June next. From that d.
no duty will exis, on any imported sr.'c
exceeding - enty per cent. ad raloreI
and certain other legal provisions al u
70 same act. Of great importance, are 10 COZ
- into operation al the same time.
Que of lhsm is the enactment whlc
80 after tina, period. requires oil duties 10
RS paid in ready money; thus putting an e
han 10 S. stsm If credits which has prevail
on. f,om the frs, establishment oil this Govei
sid- ment; system which. however necessa
nee or convenient in the infancy Of our CO
inn merce, when the mercantile capital oil
su- country was inconsiderabie, and s'ro
desire was felt TO foster and encour'
.. fnreign trade by oil practicable mea
'' may a, The presen. day we'll yield TO
4 IN inpor,an, o. jrc,s 10 be secured By CT
payments.
Another, deemed al The. same time
e.s. nual provision of,he act, Is that VI
declares that. sfier June. ls42. Ill d"'
n oo On imported articles shall be asses
0 90 upon The value Of such articles at the
. where the same shall be en'ered' un
o 90. such regulations az shall be prescrl
by Law. Hitherto, throughout the wi
% 90 history Of the Government, the cost
- value 10 the foreign market has been
.umed as the basis for the calculation
10 10 al valorem duIies. and 10 this cost
value certain additions have been ~;
supposed 10 be equivalent to the ehsl
10 "a 81 ,mporta,lnn. But undervsluation'
broad, frauds. TEAL or supposed, al
voices, aud the unjust advantages wi
70 So were believed 10 es,ss :n.the hands oi
7 the eign ma""iAc'urrrs' VINO n1u o't :'.'
,oun, fact, Themselves the importers into
e.en, county III l.rge pr"por'ion Of the N
;fr il featured goods from Europe. led Cong
4 the 10 Look To = home sslna,inn Tor zee.
L.. =. vii IL, Tie American importing