The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1843-12-13

Total deficiency for the two years - S7,l0a,3l7
This deficiency is excus ve of the loan Of 1871, becom
ing due the LIST of January Is45 which amounts to
$5629s6 and the balance of Treasury notes outstanding
81, 656,397.
The Secretary suggests, that the method of supplying
this deficiency in the revenue should be by additional
duty on imports and recommends laying duty of two
cents per pound coffee when brought from the coun
try OF its growth in ASIA Africa America, and three
cents per pound when imported from Europe On teas
specific duty in reference The Secretary in order
to exclude spurious article advises minimum value to
be fixed at sixteen and twenty per pound and duty
of five cents per pound all costing cents
der Of seven cents upon those costing from rs to So cents
and thus advancing the duty according to the cost
The importatons for the future estimated higher
than they have been for sometime past The grounds for
this is the fact that the stocks Of foreign merchandise in
this country have become much reduced that the
ual wants of the people will create increased demand
for foreign fabrics, to extent sufficient to enlarge the
revenue of the government imports, to supply
in measure, the present deficiency. The prospect Of
such result at present rather unv orabe and any
innate made by the treasury department increased re-
cepts OF revenue from that will be placed
very unsafe basis. The foreign importaons into this
country will not during the existence of the present &C.
neraton reach amount equal to the value Of those in
previous years During the late terrible revulson in the
currency OF this country, revulsion that would have
completely ruined any other nation in existence the
pie have supplied their wants from within our
own limits They have become weaned from the wish for
Injuries, that generally occupied the minds of all
We have been compelled by stern necessity to go
without what we could not pay for, and the country
at large receives the benefit Of it. We have been
consuming the mportations that sweled to great an
amount in the times of an inflated currency. Notwh-
ctau tba he
quantity of foreign merchandise in the country
large for real necessities. There is still sufciency
yet the remains Of former years of extravaganza The
Secretary Of the Treasury will find his in esma
ing great increase Of foreign imports. The deficiency
in the cannot be supplied to any great extent by
the sale Of Government lands for competitors have been
created in the State govesnments who continually
bringngheir into the market and absorbing all the
emigration in inducing foreigners to settle within their
boundaries The Secretary has depended in his est
mates Of receipts from the sale of lands the disposal Of
the Mama lands in Indiana and the Choctaw tract
| Mississippi.
The Secretary, in his report, argues at length
about the benefit arising from the circulation of the Trea
sury notes Of small denominations through the country
The issued Of these notes. is little less than tw
hundred and seventy thousand dollars. small
of notes in the hands of the people, RENTED from ont
part of the Union to the other and used exchange,
OF no consequence one way or the other but the ssu
ing of larger Of this paper would be attended
with consequences that Secretary Spencer little dreams
Of il may judge by the tenor of his report. He
tany has had sufficient experience in legislative bodies
to know that very little be left to their judgment OF
discretion He should and does know that confidence
be placed in the honesty integrity of such bodies
and therefore knows the dangers attending the Of
| power placed in their hands. We have ancient and
modern history to prove that there is such thing
consistency in public assemblies delegated with power
from the people We have had plenty Of evidence of this
fact in every state in the Union and in every Congress
convened. The currency of a nation is not safe in the
hands of hundred demagogues who for the sake of doing
something, touch that they know nothing about The
Secretary of the Treasury has been in public life too long
| not to know these facts
The Governor ofIndiana in his annual message give,
the report of the State Bank for Oct ls43 We have made
out the following comparative table, showing the condi
| ton of the institution for three years