The Charlotte journal. [volume] (Charlotte, N.C.) 1835-1851, 1844-01-12

mount will be reduced two hundred AM
/ fifty thousand dollars.
The preceding estimates are made OF
the assumption OF The continuance Of lh'
existing laws for the collection Of duties OF
! imports and tonnage and for the sale Of tbs
4 public lands, aud of course will be affected
by any changes iu those laws. The iluc
tualons Of commerce forbid 40 implicit re
lance upon any prospective calculations
FOR long term. Those now presented
have been made from the best Information
that could be obtained. and from coinpari-
son With the receipts Of previous years
he large amount Of eighteen millions re
ceiSed n 1912. from customs Is not 10 be
wholly credited to the business Of that year
Ii includes S4,s0s, 666 II, the amount o!
dotics which bad accrued in l94l, and was
secured by bonds tina: wee paid IN lS42.
and also 1867 900 Of Treasury notes re.
deemed by tho collectors in the former
year, but which were credited in SAP, thus
leaving the actual receipts from The duties
of the year a, less than thirteen mlliions.-
Ii viii be perceived that there was decid-
ed improvement in the duties on imports
during The year ls43; for, during the three
FIRST quarters of that year. the receipts e%'
ceeded ihirians aIsiiions, and, from returns
,I-sudy received, il is quite certain that
those Of the fourth quarter will amount TO
more than three millions, making q total OF
more than sixteen millions for the calendar
year.
Various general considerations, and par
ticularly that the stocks Of imported goods
were, during the last two years, nearly ex-
hausied. induce the belief that the revenue
from this source viii continue TO augment
under the present laws for the next two
years, but il is doubted whether this in
crease will exceed thee or four millions.
1t is believed that habits Of economy are
prevailing among our fellow citizens, stim'
ulated aud strengthened by tho sad conse.
quences Of overrading and spirit OF spec
Ilaiion. The disposition TO husband their
means prevents the purchase Of many super
luous articles of foreign manufacture which
we're formerly in extensive use. Many
abrics which we're heretofore imported, and
lear'y oil those which are necessary 10 our
comfort, excepting those composed OF silk,
ire manufactured within our own borders
Is we'll, and are furnished as cheap, as the
OF other countries. This cause
las for several years gradually reduced the
OF foreign merchandise, and
vii! continue to operate and, in conneylon
with a mere heallhful economy, will mate
rally affect the revenue. The estimates OF
-ecepis from customs for lhe ensuing eigh
cen months have been framed in reference
o these considerations.
From the preceding estimates
and statements il appears that
there will be required for tho
service Of the present fiscal
year beyond The means in the ,non M I
Treasury
nd fos -ti.- -ssvfyv Of the s.
cal wear commengips ISL JH-
w. lsf4, ber~aa the probable
Ecyeu@e, al least 4,5uu.VOO w
ss,500,000 90 /
Thc loan Of 1871 becoming due
lst January, l645 amounts 10 5,612, eS I
The balance Of the Treasury
notes which were outstand-
ing on the 3rd March, 1913.
and were not redeemed blythe
last loan, amounts 10 4,e56,3s. 40 +
With respect 10 the last item, the bal /
lnce of unredeemcd Treasury notes, it is !
supposed that adequate provision for the
present is made by existing laws. which |
the funding such notes in ten
cars stock, or the re issue Of them before
he Is, of July, 1914.
The loan made undos the act oil 2lsi Ju
y, lsil, is in terms redeemable al the op
ion Of the Government, after the lst OF Jan
lary, lS45. In The present abundance OF
money, il is believed that a new loan might T,
De obtained, on ten or fifteen years stock,
IN terms more favorable than those on
which that about to become due was pro
cured. This course is recommended also
BY the consideration that the probable de.
hcieucy in the revenues Of the next fiscal
year to meet the ordinary expenditures will
be sufficient to call forth all our resources
without eucountering this additional a.
mount.
The remaining eigh, millions FIVE hun
dred thousand dollars, tho estimated expen-
dllures over the receipts of the present and
next fiscal year, mus, be avoided IN whole
or in part By reduction of the public err
pendltures. or provision must be ma@e 10
meet them by an increase IN the 'evenue'
Both these topics, therefore, demand con
sidera,ion.
First, reduction in The expenses OF the
Government.
THE Secretary here ""gges's several 90
lects &c ,o,-~a1ntnent, amounting TO but NJ
tie, however, and of no great Importance
Secondly. 1t becomes theduty OF tho IN
dersigued to examine the remaining ques-
ton presented, whether anyand what pro
visions can be made to meet the con,em,
plated Deficiencies, or such portion OF them
as may exist after the reduction which Con
rress may direct The alternatives which
sucges, themselves are, direct taxaiion, an
augmentation of the proceeds OF the sales
of public lands, the increase of existing du-
ties on Imports, aad the imposition of duties