Litchfield enquirer. [volume] (Litchfield, Conn.) 1829-current, 1843-12-21
TREASURY REPORT.

TREASURY REPORT.
The annual Report of the Secretary Of the Treas
ury is published at length on our first page. 1t is
we'll written, sbusiness-Iike, document, and easy
to be understood. The Hon. Secretary confines
himself strictly to the concerns Of his own Depart
ment, neither turning aside to the right hand nor
the left. He alludes to the Tariff question, but SOLE
ly in reference to its bearing on the revenue. 1t
will be borne in mind that the present Tariff went
into operation ON the 10th of August, 1912, and
consequently its effects on the revenue are scarce
ly perceptible in the returns embraced in the pres
emit Report, which only extends to the 30th of Sep
TENDER in the same year. BY an act. Of the last
Congress the termination Of the fiscal wear was
changed from the Both Of September to the Both of
June. Consequently, the next Treasury State
meTt will embrace period Of only nine months,
extending only from the 30th September, 1912, to
the 30th of June, 1S43. This Statement, the Sec
rotary informs us, is in process of pFeparaton by all
the force that can be applied to it, and will proba
bly, be submitted to Congress in course of next
month. 1t will be looked for with considerable
interest, as illustrating the effects of the new Tar
lift upon the revenue and upon commerce. The
Secretary states in advance, that the receipts into
the Treasury from all sources except Treasury notes
and loans, during the first six months of thepres
ent civil year, viz: fromst of January to 30th of
June 1S43 were only 49, 065 1885, which is 81 1885,
65S less than half the receipts the civil year 1912.
He expresses his opinion that none of the existing
duties can be increased with any reasonable pros
pect of favorable effect upon the revenue, and
the other hand he is sc not prepared to specify any
very important rates of duty that will bear reduc-
tion," regarding solely the question of revenue,
ssunless the deficiency be supplied by duties on
other articles" Such being the case, he recon-
mends a duty of two cents pound on coffee impor-
ted from the countries of its production, three
cents from Europe. Also duty of five cents a
rnok fhoS,
over IS cents and not exceeding IS, seven cents
pound; and so on, with the higher grades These
duties he calculates, would yield a revenue of a.
bout "a 900 900, viz: 81, 100000, coffee, and
81 800 900, on tea. He also recommends light
house duty of 6 cents ton on all vessels engaged
in the foreign trade, which he calculates would
produce about $4,000 per annum. From these
items, viz duties tea and coffee, tonnage, light
house duties, and one or two other small charges,
he anticipates revenue, in round numbers, Of g.
0,per annum. Without an increase of rev.
enue from new sources, the excess of expenditures
above receipts during the present fiscal year,
mencing list October last, and ending Both June
next, will be about $4,000 900, and in the 10
months commencing 1st July next, about "a $780,
600. By laying the proposed duties on tea and
coffee, tonnage, Sc, and by extending the act of
Sd March last. (provdng for the reissue of Treas
ury notes,) which expires the LIST of July next,
an increase Of the public debt may be avoided
and any reduction OF expenditures or increase OF
revenue that may take place, will enable the De-
partment to redeem portion of the floating debt
For some years past, both the revenue and ey-
penditures have been diminishing. The average
rate ofrevenue per annum accruing between the
first of January, 1887, and the 31st Of December,
1910, -four years,) was 21, 100000. while that be-
tween the LIST Of January 1871, and the 30th of
September, ls43, was SIS, 100000 per year. The
expenditures during the lst four years, for all pur-
poses other than the public debt, averaged at the
rate of $a5, l25,00o per year, while those of the
same character for the last two years and nine
months averaged at the rate Of only $24, 900
per annum.
We are glad to see that the Hon. Secretary again
urges the adoption Of warehouse system. Such
system would be of great Importance to the ship
ping interest, and to the mercantile community
generally. 1t would, also, in its ultimate, opera
ton, be likely to increase the revenue. Try it and
see.-Jo,rmal Of Commerce. -.
0c-The Poughkeepsie Eagle states that Judge
Thompson, whoes recovery from recent severe at
tack of illness has been so confidently anticipated
has had relapse Of his disease, and is at present
in an extremely critical situation