Richmond daily Whig. [volume] (Richmond, Va.) 1842-1861, 1846-06-19
STATE OF THE FINANCES.
NJ ES SAGE

orr President Of he United States in sascsr 10 res
"iafoH e fhe Senate Of Jane g. 1896 es-g for inJor-
NATION rsiaf'rs 10 the mode Of raining unds for carry
ing on fhs p,fh Msr ca.
To the Seaafe Of the Uaited Stsfes.
In answer the resolution Of the Senate Of the 30 nst
lcommuneste herewith prepared by the War and
Navy Departments OF the probable expenses Of eondue>
uns the existing war with Mexico during the remainder
OF the present and the whole Of the next fiscal year
communicate also, report Of the Secretary OF the Tressu
ry based upon these estimato containing recommended
tons OF measures ot raising the additional
Ii probable that the actual expenses incurred during the
period specified fall considerably below the estimates
submitted, which for larger number OF troops that
have yet been called TO the field. As n precautionary
measure however sganst any possible deficiency the
Inmates have been made the largest amount which any
state OF the service may require.
IL will be perceived from the report OF the Secretary
OF the Treasury that considerable portion of the add
nonal amount required may be raised by modification of
the rates o duty imposed by the existing Tariff laws-
The high duties At present levied many articles totally
exclude them from importation whilst the Quantity and
amount OF Others which imported are greatly diminish
cd by reducing these duties a revenue standard
not doubted that large OF the articles On which
they are imposed would be imported, and
amount OF be received the Treasury from This
source BY imposing reyenue duties many articles now
permitted TO be imported free OF duty and by
the rates within the revenue standard upon Others large
additional revenue will be collected. independently of
the high considerations which induced me- in nv annual
message, recommend a modification and reduction of
the rates OF duty imposed by Of is42 a. being
only proper in reference a of peace but iust
TO all the great interests q. the county, the of
such modification and reduction u war measure must
now be manifest The country requires additona reve-
for tue prosecution of the war Ii NAV be obtained
TO great extent by reducing the prohibory aud highly
protective duties imposed by the existing to revenue
rates by imposing revenue duties the free st and by
modifying the rates OF duty other articles.
The notifications recommended by the Secretary OF the
Treasury his annual report December last were adap
ted TO state OF peace and the additional dates no su
gestcd by HIM, with strictly raise revenue As
At the conclusion OF the war these duties
may and should be abolished and reduced TO lower rates
Ii ID Apprehended that the existing war with Mexico
will materially affect trade and commerce with the
OF the world. Ga the contrary, the reductions promo
sed would increase that trade and augment the de-
rved from It.
When the country is in state OF war no contingency
should be permitted to in which there would be
deficiency the for vigorous prosecution of
the war and to guard against such event tits recon-
mendsd that contingent authority be given TO issue
~ notes, or TO contract loan for limited amount REIN.
bursdbe early day Should no occasion arise 10
ercse The power still 1t be important the author-
y should exist should there be 4 necessity forii
It's not deemed necessary direct taxes or excl
ssSthe measures recommended being a.
Of incre asing the IL hoped that the V
with Mexico vigorously prosecuted, as is CONTEMPLATED
may be OF short duration. shall be At all times ready 10
conclude honorable peace, whenever the Mexican 90
verLment shall manifest like disposition. The exis,ing
has been rendered necessary by the acts Of Me,e
and whenever that power shall be ready 20 do US iuse
shall be prepared sheath the sword and tende, 10
her the olive branch Of peace.
JAMES X. POLK.
WASHINGTON, June l6, 1876.