Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1843-01-05
100000 90
l50,UuD GO
From Miscellaneous sources
SIc.c50,Uuu o.

Army Qualifications, pensions, 'u!!iiment
Of lad. en treaties, suppfessing oil indi' =
an hos,,ii;ies, &c, e,0la,o42
N,va service 7,3l6,O2l :
Interest on public debt and Treasury
no,ss I,2ll 900 o.
lsy the foregoing statements it willap-
! ! ear that deficiency Will exist IN The
Of !e"'D'' ." VIC ''''' - ~ 1856 o
The receipts for the half calendar year
ending on the 30;h June lo43, are es-
,imn,ed at l4,6sSll3 4;
And the expenses FOR the same period
al 1881 IeG Il
Leaving balance Of 4,3O5g26 s!
From which deduct Tie amount of def
cicncy rs above, and the balance
NAMING IN the Treasury on The 3olh
June, l-43, wn be 1871 1863 :;
The receipts into The Treasury for The
fi.cai year ending The Both June,
lsii, are estimated at 15,s50G00 OF
Making, with the balance as above 255l 800 :;
| From which deduct The estimated
| pendlurcs for the fiscal wear 20,9il ,i9S Il
And the balance in the Treasury on the
Both June, 1914 will amount to 81 635,e7l OF
! Assuming, IS highly probable that the balance o
the loan authorised by the acts of 2si July, ISL and
| 18Th April, 1912, amounting 10 553S - 45, will be
negotiated 2rior TO the I3h April, lS43 the limit oil
the term within which it &c taken. has been in
cpded the receipts Of the next half year Should
however, this reasonable expectation be disappointed
as to the whole amount Of such balance the deficiency
thence arising, may IL supplied By the issue Of rreasu
ny Notes, under the authority Of the act Of the 3ls,
August last, To the amount Of :;3,500000 WHICH sum
together with tina, realised ny the sale o., STOCK wl
believed, place in the Treasury available amount
adequate To meet ell the anticipated demands, up To the
Both June, lSil and the whole of the balance of the
loan be taken within the period limited by law, the
vcral balances remaining in the Treasury the 30h
June, Si, and 30th June, ISL, will be indicated
! the foregoing EXHIBIT.
1t will bP perceived thn in tho estimate of expend
lures subsequent to the lt ot January next, the
d"mption Of Treasury notes is not taken into account
Ia, lew notes have been presented IL the Department
ior redemption since h- passage Of tie of 3lsi
August last, and nearly the whole anlonu, cancelled
>ace That day, were taken IN payment oi public dues.
Shoud the notes, issued under The act above ton
ed be placed the footing will! the previous il
sues, 10 hear interest after maturity PAYABLE halt
yearly until called in for redemption il is believed bu,
snail amount would fall INTO the expenditures for the
ensuing eighteen months II is recommended, there
FORE that lh,s lie done: otherwise the expenditures Gu-
ring the period last mentioned must necessarily be in
creased TO the of probably three To four mil.
nns OF dollars in redemption OF ISSUES under the
I of 3lst August last Boz, for tic purpose nf guarding
against unforeseen contlnIenc 1t Is further
mtndrd TINT the existing authority, Ia Trea
notes, should be extended to lie 30ih June ii!
! The loan Of :sj,672,97G -. borrowed under the
provisions of the act ot tr 2lst July 1871, will be
! edeerahe the LIST of January, ISi5 and on the
assumption that issue Of Treasury notes, as above
suggested shall be authorised by Congress, the whole
amount outstanding, together with that of the
issues that may he hereafter made, under the act oil
'ls of August last, Will fall due prior the seth June
Isis. Although payment Of these may be n,
unce demanded when due, and tune Of repayment oil
Ike loan Of lS4l is placed AT the pleasure Of Govern
l..Lt -. Al
must exist and the 10 provide for the exigency
can be afforded only 10y further legislation
TIE present tariff, in IT'S main FEATURES resembled
neary the bill submitted 10 Congress by the depart
mcnt the 9th of May last, that the expressrd
III The report which accompanied The hill rlay tie con
sdered applicable, 10 great extent, the system
Of duties now established. The period within which
the tariff has been in operation las been much toe
short to furnish any decisive evidence to liz perma
nent influence upon importations The foreign trade
of the country has continued 10 decline, ard mporta
nus have been comparatively small the passage
% the act How far this state OF things may have bees
influenced by the existing system al duties, is
possible to determine. The smallncss Of the mporta
tons mny be we'll accounted for by the embarrassed
condition OF the country, and extremely limited me- ms
of purchase The Of foreign commodities in
markets is still fuurd greatly 10 exceed the demands
and The fall in the prices Of merchandise snce The Isl
September, is supposed 10 be average, not less
than ten per cen,. THIS fact vii be found verified IN
10 winch reference respectfully made: aud il is
deemed conclusive to show that the decline in The i'm
porations tie LIST Sept canno, Justly be referred
to system of duties and that The effect of the ex
sitting tar IF 10 be determined by further aud
more satisfactory experience.
The importance o adequate provision for revenue
cannot he too often too strongly urged upon the
atrnlio of Congress The resources Of the country
are abundant; internal taxation, either direct midi
rect has of late years been found necessary and
sl,pvp hat nf tim hnus NJ
ties may be made sufficiently comprehensive to weld
an income commensurate with all the wants Of the
country.
There are various articles Of import several of them
very large and Of universal consumption present IN
taxed or subj CT 10 duties extremely low and some oil
which, without, perhaps. In any considerable degree
lcssenng the amonn of their consumption might Lea
Impnsis yielding aggregate addition 10 the
accrung under The existing lass Of mol less than S.
00O,U0 There offer themselves Tor selection, and II
rests with lie wisdom of Congress TO make that seec
ton adopt any other mode OF securing the receipt
such amount of revenue shall be sufficient 10
the expenses Of economical adnlnisirat:o of the
GOVERNMENT and atTord The means Of sustaining mea
necessary for the defence of the country and tho
maintenance of The public credit.
THIS last object is q! Infinite Importance. The homo,
of The country, liz just self respect, the pride which
every zen must feel IN The h'.h character OF It's 90
vernnen': all these require ;hat The public filth, and
The credit al that government should be placed aboy
doubt question
Deeming 1t highly probable TIA. the policy of rs,ab
lishInga warehouse system nigh, engage the drlbera
tons of Congress at the present session the attention
collectors and other ;cers al ports cacc
10 this subject by circular issued from the Department
on The 24ih Nov cs, copy Of which, together viii
the received, and table of ports of foreign
merchandise is annexed IL has been thought advisa
Bile, also, for the sake Of convenient reference, in
matter OF such general interest 10 attach 10 this report
u copy of the statute Of the Sd and 18th William "
which emhodes the worehouse system Of Great Britain
in form ma,urfd by long experience In connection
with this, will be found copy OF regulations es,n
blshed under the authority Of the statute above men
TONED, by the commissioners OF the Treasury, whcl
will afford satisfactory view Of the practical operation
of The system as II now exists in that country.
an, very respectfully,
I Your obi servant,
w. FORWARD.
From a. E!skmoRd Compiler Of lee. 81