The Hillsborough recorder. [volume] (Hillsborough, N.C.) 1820-1879, 1846-06-25
THE NATIONAL FINANCES.
Message from the President Of the u.
Stats.

Il 6IatS.
! The following message WAS transmitted
by abe Prss'dsna of the United State. d
the Senate on Tue.day:
Washington, June i6.
10 The Senate eftls United State,
In answer 10 ! resolution VI ,hs Senate
Of Tire 3dInst, ni. | Communicate here ,,ll
estimates pre- pared By The wH aud Navy
Departments Ui 1hs probable expenses ol
conducting the exisIng war with Mex,cu
during the remainder ofihe pIesrnl AMI tue
whole OF the next fiscal year. leommu.
. n'es'e also a repon Of the Secretary Of
the Tteasury. bssed upon these estimates.
containing recommendation. Of measures
inr Raising The additional mean. required.
ilIs probable Ihs, tie ANIMAL expenses IN
Cured during the period specified may I'll
considerably bsloS the estimates submit
ted, which are Tor a larger number Of
troops than have yet bren called TO the
neld. As sPrscsunonsry measure. how
ever, against any possible deficiency. the
Estimates have been made Of the largest
amount whlct auy state oil The service m.y
require.
IL will be perceived, from the report oi
the Secretary OF The Treasury, that . Gun.
siderable portion OF the adjiuonsl amount
required may BE- raised by a modification
Of the rate. Ofduly imposed by the exist ny
tariff Laws. The high duties al present
lrvied upon many articles totally exclude
them from importation, whIl.t the guam
iiiy and amount Of others which are In-
ported are grea'Iy diminished. a. -~JO~
ing these duties To revenue standard. u |
il not doubled that larger amnun, of The
articles an which they are imposed would
be imported. and corresponding amount
Of resenue b. received zI the Treasury |
from this source. By imposing revenue
duties an May ARTICLES now permitted to
be impaired Tree sc duty. aud, by resula-
Ting the rates within the revenue standard
upon Others, a large sddIuon,l revenue
gill be collected. independently nj the
high considerations which induced me in
nv annual message TO recommend m"- :
difics,ion and reduction of the rates Of du- /
~ imposed by the srI OF 1912. rs being
no, only proper IN references To the con-
tnuance Of peaee. bu, just to all The great
interests OF the country. The Necessity Of
such modification and rrduc i'm as . var
must how be manifest The
requires adtinonal revenue Tor
The prosecution Of the var. II may be
obtained 10 great extent by reducing the
and highly pro eciive duties
imposed BY the ex,sung laws 10 revenue .
rates. By imposing revenue duIies ON the
rec Iis'. and by modifying the rs'es OF du- !
lies on other ARTICLES.
The notifications recommended by The
Secretary If The Treasury in his annual /
rep"r, 10 December last were adapted ina
;,a,e OF peace, and The sddni"nsl dunes
now suggested by hun are With a ,iew
strictly H. raise revenue as war measure.
At The conclusion of the war these dutlrs
nay and should be sbol shed and reduced
o lower rates.
II :. mol opprehended thai the existing |
y ar with MEXICO will NATURALLY atirci our '
rade and commerce with the rest Of The
sold. On the contrary, the reductions
,,oposFd would increase that trade aud
ugmem the revenue derived from u.
When The country il ~ a state Of war,
10 contingency should be psrniued 10
crur 10 whirh there womb be de-
ieiencv in the Treasury for The vigorous
of the var: and. 10 guard
gainst such an event, u 10 recommended
hat contingent authority be given to i.-
ne Treasury notes. or to contrast a loan !.
pr q l,rniIed amount, reImbursabie al an
aly day. Suould no occasion arise Ia
xerc,-e the power. still it may be im-
ths, the sutho'i'y should exist,
houId there be neressny ioi il.
|, is not deemed neee-ssry to resort TO
rect taxes or excuses, the measures re-
being deemed preferable as a
,eahs OF Increasing lie revenue. Il is
oped thai .he war 9Th Mexico. il Wig
ronsly prosecuted ss 10 contemplated, !,
,ay be- &c short durauoo. shall he al
i umts ready ~ conclude az honorable :