Wilmington journal. [volume] (Wilmington, N.C.) 1844-1895, 1846-06-26
ExDenses of the War.

the Senate of the United States in answer to
a resolution. of that body, adopted on tho 3rd
inst, calling on the Executive for information
as to the mode of raising means TO meet the
expenses Of the Mexican war. This message
is accompanied by the reports of the Secreta-
ries Of the Treasury and War Departments,
furnishing information on the same subject
II appears from these reports that there wou'o
be deficiency in the Treasury. on the LIST OF
July, l847, Of about twenty millions OF dol
lars, over and above the estimates made by
the Secretary of the Treasury in his annual
report, submitted to Congress in December
last. The whole estimated expenses. (in-
creased we mean) from the 18th Of May last,
('46,l when war was first formally declared
against Mexico, to 30th June Of this year, are
$2,8O5.0OO, and from the lst Of July, l846,
to LIST July, l847, the ensuing fiscal year, are
I$17,l66,472. These estimates. says the Sec
rotary Of WARM his communication, are made
upon the assumption that the regular army
will soon be filled to its maximum, which will
amount to $500 men, and that volunteer
force of 20, 900 foot. and 5000 mounted men,
| is to be at once organized, received into ser
vice, and kept therein until the end Of the
next fiscal year-to wit: 10 the Both OF June,
1877. The estimates are made for an army Of
over 40 900 men, mostly operating in the field,
in an enemy's country. deriving their supplies
| lIx,f Go ~, Init cd
| This estimate is. it will be perceived, based
upon the superstition that the war will con-
tinue till the LIST Of July. At. The Secretary
of War observes that this estimate ais large,
very large" and he hopes will exceed the ex-
penditnres required. They (the estImates)
are made, says Mr.. Marcy. en- the suPPosItIon
that our army will penetrate far into the in'e-
rior of the cnemy's country. and that all sup
pies will necessarily have to be transported
over long lines, and these far from being ca
silly traversed.
As to the means of raising the funds to meet
these extra OUTLAWS, the President, in the first
place, suggests a reduction Of the tariff. He OBJ
serves Justly, that the high protective duties
! imposed by the act Of '42 upon many articles.
: almost entirely precludes Their importation in
70 this country, and consequently cuts of
J revenue. He recommends a reduction on
these articles, and also observes, that many ar
,icles that are now admitted duty free may be
moderately taxed, ahdtheteby bring money
to the Treasury. The Secretary Of the Trea'
sury thinks, that by modifying the tariff bill
in the way recommended by the President
that an additional amount of about FIVE and {
half millions Of dollars may be raised. Tha
$ by adopting his recommendations made il
s December last, in regard to the public lands
!. would m lie en- annual addition Of h IF mil
= lion-that by adopting the warehousing sys
tenn, would make another annual addition of
million. These sums, however, deducted
. from the gross original deficit, would leave
net deficit Of about twelve millions and half
% in round numbers, to be raised by loan, Trea
70 sury notes, direct taxation, or excuses. TIL
Il Secretary Of the Treasury recommends tina
the amount should ba raised by loans an
Treasury notes, the rate of interest not to ex
coed per cent. He thinks that this mode i
=, preferable to direct taxes or excises-that tn
. people are not prepared for the latter course
!. and that its adoption, under existing clrcum
stances, would not meet with their approbs
ton. The President recommends that thl
power Of making loans or issuing Treasur
y notes, to tho amount of $l2 1856, 4O6, be veste
, in the Executive by Congressional such
,e sep is necessary to the vigorous prosecutio
IN of the war. We think so, too, and suppos
al that Congress will carry out the recommend
- tions without any hesitation.
Mr.. Polk, at the close OF his message, o.
ne serves that he will always be ready to col
. clude an honorable peace whenever the Me
ID lean Government shall manifest like disp
ia sinon.
he Our own opinion is, that now that the CO
NJ, troversy with England h IS been settled, Me
il leo will, ere long, be perfectly willing
nd conclude peace. Indeed, we are Of opini
ter that she never would have provoked the prt
he ent hostilties had she not relied on the o.
W. gon questions producing rupture betwe
that nation and the United StLtes-now Il
Ilel this idea is exploded, we think she will
nee Wiling 70 come 10 terms we "ou'o ann
be willing to bet that she sues for peace
b;a fore the LIST of September, the time at VIII
r,er the army intended for the invasion of her
kill rtorY by the q. States, will be organized.
will venture to predict that the United Sta
, Of will be at peace with the whole world, BET
:. the meeting Of the next session of Congres
rea-
ent.