Weekly national intelligencer. [volume] (Washington [D.C.]) 1841-1869, 1846-12-12

[The following is the statement referred 70 i
For teyea ending soh June, iS46 the Secretary Of the
Treasury will be enabled present Congress more yor
able state Of the finances than he had previously estimated
In his annual report II the commencement Of the
last session he estimated the receipts OF the
year at sec 500 600
And he stated that the actual balance in The Trea
sury on the ist Of July, is4s, 1.-THE beginning Of
that year, was... 5000
Making The total the year. as estimated, 900
lie estimated the expenditures for the year
Leaving estimated balance in the Treasury 1st
july 1916, 4,ssl.Ooo
But ii is believed that the actual receipts for the
year in question about. 90 100000
And the actual expenditures than 100000
II this be correct the actual receipts exceeded The
Secretary estimate. goo COZ
And the actual expenditures fell short Of his esti-
mate ~. 100000
lSA6, as the Secretary estimated, 4,85IOOO
Actual balance in the Treasury at that date must
have been about. 9,15l 900
Being 81, 600 more than the estimate Ac-
cordingly, it appears from the monthly state
ment Of the Treasurer that the balance in 1rea-
sury, 29h june 1916, $4,000
But the Secretary win probably not be SO fortunate n re-
spect to his estimate tor the present fiscal year. ending 3Oh
June. ls47.
He estimates the for this year at S25 100000
anu the expenditures Tor the same period at 900
The actual for the LIST quarter Of the same
yearryiz from Soth June to soth September,
1916, was. 6782 600
And the actual expenditure for the same quarter
was. iloss.ooo
Leaving deficiency for that quarter of.... ssosooo
If the FIRST quarter be fair sample or the whole
year, both as to revenue and expenditures, the
deficiency at the end Of the year will be.. e9aaasoo
To this deficiency the balance Ia the Treasury list
July, 1876, is applicable, viz ........... 9.s10000
And the remainder, unless other provision be
made, goes to increase the public debt 9t4OO0
The previously existngpubc debt IL O75oO0
The whole public debt therefore, on lst july
1917, both stock and Treasury notes. on this
calculation, would be-. s6es9,ooo
These are but estimates except they are collected
from the monthly and quarterly reports Treasury
be that the receipts and expenditures for the first quarter
OF the present fiscal year not turn out to be true index to
the remaining three-quarters
We have see what will be the actual effect Of the
And it is also to be borne in mind stating
receipts and expenditures aozoance haever made TOR
eaenses incurred bit not betrayed The raising of
troops Of enhances the expense Of the war;
whole probable that the deficiency at the end Of the year
may be $50, 900 600
Public debt, estimated amount, il the war should
end next springs $500 geo 900, annual interest S6ooo00O
Sinking fund 100000
Ordinary expenses 2S,oo000O
sss,oooooo
Deduct income from public lands and all other
sources, estimated by Secretary Walker, Tor
the year ending S0h june 1si7. 100000
Leaving to be provided for by duties imports 100000
II the imports under the tariff should be the
same as they were for the year ending June 30lh
lS45 say S1OS O0OO after deductiug
It IS estimated that the nett revenue from imports
will 100000
Leaving $40, 500, 900 TO be raised by du les or in
creased imports 100000
To produce this there an increased import of
,o2i $780, making total import OF Si5o02i, 100, after
country and paid for if have The ability The exports Of
our products fisheries Sc for the present year short crops
OF grain in Europe will exceed $135 OOO leaving
900 to paid for in specie which spare
would deange our currency deprsss business and
If the public debt should reach only to 6y millions, then
three millions Of annual expenditure will be saved and the
ports oil specie on the foregoing calculation be twelve millions
thfnk there will be great deficiency and rather think
that the President will recommend upon and coffee
Well all have to say is this there majority found in
either branch of Congress sufficient carry the present tariff
measurea which has, my Judgment destroyed
the best system that this country enjoycd the
tariff of lS42-whether for reward projection, public
credit. Great checpg This there maores found
destroy These majonties exist By that act they
struck of five millions from the annual income They may,
may notI will not antcipae-rcceye an equal amount
under their tariff Let events decide that If they do
If they want more money if they must have money,
they have the maortes if they fit to bring about
II they will take my advice, should they be In want Of
money would say to them, restore what you have destroy
ed-[cres of Exactly that's it," and loud cheerslgive
back that system of credpu you honoraby
end to this war.
You may have increased your public debt give us good
system TO live UNDER and pay UNDER and meet the loss
Buff you mean to overwhelm with foreign importation ;f
you think you will receiveas will notfory millions Of
new mpoatons how do you expect to meet this demand
is true, the time avos the high price of iron in England
and keeps up the price here whilst the famine in Ireland
the general scarcity other parts of Europe nugmens the ex
portaton of American produce
But looking to the end Ientean confident opinion that
the imporaions Of the country will not reach such
will make good the destruction of the tariff 1912 and if
such importation should take place. and the people Of the
United States foolish enough purchase foreign
dies TO that extent what must be the consequences Why,
that exports would not pay for imports and the
try would be drained of specie.
Gentlemen, take my leave Of you and Of the occa-
sion, by returning thanks the ladies who honored
and all of by attending this assembage If they have
received pleasure, they have fulfilled far the duty Of the
sex, comforting it. Enthusiastic cheering II the
dence Immediately before have sometimes felt that their
weary their eyes nevertheless have been always
pleased. [Renewed cheering.]
They rejoice in the prosperity Of happy homes and happy
country and in the nnumerabe blessings Providence has
vouchsafed TO pour upon Who thereare there any
who look back with pleasure and honest pride upon
the history of the past Who is there in any part Of the
earth that contemplate the present circumstances that
round them with satisfaction than Of this goodIy
land And where there fathers and mothers who
lock forward with higher sounder hopes for the happiness Of
their children and their chdens children, than the fathers
and mothers before me Loud cheers
Let soften political duties by surrounding associations
and social feelings and while the fathers the through
successive generations SHALL with manly strength uphold the
pillars Of the State, may those pillars be ornamened by the
and 0f dang