The Madisonian. [volume] (Washington City [i.e. Washington, D.C.]) 1837-1845, 1843-12-11

MAI year. IL inciudSs ~ ,6Oo 666 Ii, the amount o
du1An which bad aceruea ia l64l, ssd was seeurs,
~ bends that were paid in l042, AND also 1857 ,00
o. Treasury noeA redeemed by tho s0llectors in tn
formey year. but which were credited in 1912, thu
leaving the actual receipts FROM the duties of tn
year at iess than thirteen millions. 1t will be per
csived that there was decided improvement in th
duties on imports during The year 1913 for, durina
the three fret quarters Of that year the receipts ex
ceeded thirteen millions and, from returns alread,
received, Is quite certain those Of the fourth quar-
ter will amount 70 more than three millions, making
total of more than sixteen millions for the calendar
year.
Various general considerations, and particularly
that the stocks Of imported goods were, during The
last two years, nearly exhausted, induce the belief
that the from this source VIII continue tG
augment under the present laws for the next two
years. but is doubted whether this increase will
coed three four millions.
1t is believed that habits Of economy prevailing
among our fellow citizens, stimulated and strengthen
ed by the sad consequences OF overtrading and spirit
of speculation. The disposition to husband their
means prevents the purchase of many supcrhuous
tices Of foreign manufacture which were formerly
in extensive Many fabrics which were hereto
fore imported and nearly all those which are
sary to our comfort, excepting those composed OF
silk, are manufactured within our own borders as
WE'LL and furnished cheap, as the production:
of other countries. This has for several year,
gradually reduced the consumption of foreign mer
chandse and will continue to operate and, in con
nexion with more healthlul economy, will material
ly affect the revenue. Tie estimate Of receipts from
customs for the ensuing eighteen months have beer
framed in reference TO these considerations
A table has been prepared under my direction
which accompanies this report, (G.) exhibiting tn,
value of foreign merchandise imported and re-expor
ted, from 1921 to 1912 and showing the value OF ar
ticles consumed or left on hand during each year
BY comparison of this table with another,lI) als<
hereto annexed, showing the value Of merchandise
imported, and the duties accruing thereon for each
year during the same period, wAl be perceived, d
general result that the duties were the greatest du-
ring the years when the largest amounts of imported
goods were either consumed or left hand. A
comparison Of these for the several years will afford
a very good idea Of the average consumption Of TO-
reign goods, and the balances that must have been
left on hand and will justify the conclusion that the
largest amounts of duties were founded upon the
cess of importation consumption in other words
that the regular and steady consumption of the
try did not furnish the means from which those
cessive revenues derived The inference to be
drawn from these results is, that we are not ex
pect such amounts of duties as characterized the
years 1881, 1882, 1895, 1885, and 1885, without the
existence Of the same cause-importatiOns beyond
our wants. And, indeed, more general inference
may be drawn, that, without the Intervention Of some
extraordinary causes, which there is now no reason
to anticipate we cannot rely upon more than very
moderate increase Of duties from customs, bearing
proportion to thencrease of population, for years to
come.
in this Department, respecting the course and auctu-
ations of our foreign commerce. in convenient form
for examination and reference, several very valuable
tables have been prepared, which annexed to this
report. Among them, besides those already men,
toned, statement of exports of domestic pro-
duce and of foreign goods Distinguishing those sub
ect duty from those that free also tables of
the most important articles imported from those
countries with which we have the most intercourse,
designating them respectively; and also, of our ex
tot ho fr.A = - L..
showing the gross revenue Of each year, the expenses
chargeable upon it, and the net proceeds. All these
embrace the period from 1921, when the statistical
reports were first made, to the year 1912
The proceeds of the sales of the public lands have
been estimated from the best elements within reach
The demand for these lands is steady, while it is
derae, and there is no reason to anticipate the Id
and excessive rage for purchases which at one time
prevailed If the tide of emigration should take It's
course towards the shores of the Pacific it might ma
terially affect the Government sales of lands The
tracts set apart to the States, and located by
them, being or likely to be- in the market will also
have an influence upon the question These and
other considerations not of equal magnitude but hav-
ing bearing upon the result have induced the under
signed to doubt whether the receipts from the sales of
lands will be equal to the estimates submitted which
have been obtained from the General Land Office
and are founded upon large purchases being made Of
tracts that will be brought into the market.
The expenditures for the next eighteen months will
of the dtbu ion of The proceeds of the sales Of pub
lie lands having ceased, of appropriations being
necessary for purchases Of Indian lands of yari
public buildings, heretofore authorized, being
completed, and, it is hoped of the claims Of militia
and volunteers being nearly satisfied.
Yet, from present appearances it seems certain
that the deficiencies above stated will exist durng
the present and the next fiscal year They are but
tnuances OF similar DEFICIENCIES which commenced
Immediately after the deposites were made with the
Sto.e md have for Tho loc
The accompanying table (C) exhibits the receints
from the various sources accrung between the ls nf
January, 1887 and the 30th September. Is43 the ex
pendures, exclusive OF payments for principal or in
tercst of the public debt, those made on that
and the actual balances in the Treasury
Ii will be seen that the deficiency has been dimin.
shing during the last three years having been at the
rate of hundred thousand dollars less per veal
during that time than during the preceding four
The average rate Of revenue per annum accrun,
between the st Of January 1887, and the 3lst De
cember, 1910, tweDty-one IN lions of dollars
while that between the 1st of January Is4I and Ia,
Goth September, ls43, was eighteen millions tst
hundred thousand dollars per year.
The accruing revenue stated in The table embrace
all tie ceipts mo the Treasury during the period
refe red to, excepting those from debts and at e
funds existing prior 1857 in reference TO the frs
mentioned period, and with like exception of 70
cepts from similar funds which existed before 1871
in reference to the second Ieriod and r.. ccninc II
both cases the derived from loans and Tressn
ry notes This view is tlkeD for The Dur Jose of or
hbIting he actual revenue, indepond, nj of Academia
and extrin-ic additions. Thus, during The fret fu,
years the deficiency in the odnsry revenue was sun.
Piled by the balance in the Treasury on The LIST OF
January, 1897 of 6,0S7 27S SO; by receipts from
debts and other funds existing befor the LIST Of Janna
ry, 1887, 10 the amount of IS $40 697 90 aud Inv
Treaury notes. During the last two years and nine
months the deficiency was partly supplied by the la
lance 10 .he reasury on The lst Of January, 1871
81
before The last mentioned day The amouct of 1920
723 80; and The reiiduc by loans and Treasur,
notes.
II will be perceived also that the EXPENDITURES f..
the four years, for all purposes other than the public
debt, averaged at the rate of twenty.egbt million
one hundred and twenty five thous nd dollars ne
year; wbie those Of the same character for the Ia
two years and nine months averaged at the rate .