Wilmington journal. [volume] (Wilmington, N.C.) 1844-1895, 1846-07-31
l0l,907,734

In the table from the $l06,OSO,4IO, be- E
cause it consists. exclusively of an excess
OF the exports of those articles over the i'm
ports of ls45; thus proving that such ex-
cess must have been not Of the import of
l845, but of the imports of a preceding
year, otherwise more of these articles must
have been exported in 1916 than were i'm
ported the same year. Nearly the whole
amount was specie, and in no event could
any portion of the amount affect The esti-
mate of the revenue. 1t is a mere diffe-
renee OF nomenclature. not changing in a
ny aspect the result of the estimate of re-
venue; but that the nomenclature adopted
is right, is proved, not only by the tables
themselves, as compared above, but by the
following consideration. Ifan expectation
i'll lS45, of an import of 1914, is to be de.
Quoted from the imports Of l845 consum-
ed in that year, then ifthe imports of goods
in l845, consumed in that year, was $780,
| 100000, and there was an excess of ex-
ports over imports Of $l0O,OOO,OO0 of
specie, or anything else, imported pre-
vlous year, it would leave no imports of
1915 consumed in that year, notwthstan-
ding the actual consumption of such i'm
ports, and the actual payment ofhe duties
into the treasury. Nor must the amount
of duties accrued on the imports of any
| fiscal year be COMPOUNDED with receipts
during the same year into the treasury.
Thus the receipts from customs into the
treasury for the fiscal year ls45, are sta
ted in the annual report at $27 1913 1l2 20,
founded on the official statement of the
Register of the Treasury, given at page
%; which is based upon the books of the
treasurer of the United States, and recor-
ded by the register. Now, at page 6S of
treasury report. the duties accrued in 1S45.
Excluding expenses of collection,) are
given at $2S, 1911 ,636 46 ; but this differ
ence is the result mot merely in lS45, but
in every year since the government was
founded) Of the fact, that many goods are
entered with the collectors at or before the
} close of each year, ant returned by the
collectors as goods entered within the year,
and on which the duties have accrued, but
on which, during the sixty or ninety days
of the succeeding fiscal year, under the
18th section of the tariff of 1912, after en-
try of the goods with the collectors, the
? moneys are not received by them at the
date of the entry, and consequently cannot
i be paid into the treasury, until some time
during the succeeding fiscal year. In al
7 the tables formed from the existence of the
government down to the present period
the moneys paid into the treasury during
q any one fiscal year never have correspon
= ded, and unless the law is changed, never
Z can correspond with the duties accruin,
during the fiscal year. These remarks ar
made TO correct any misrepresentation tina
may exist on this important subject. an,
9 to prove that the estimate made in my
communication to the Senate of the 1871
= instant is correct-namely, that, notwitI1
standing the increase Of population, Their
is an actual and certain diminuton in in
6 revenue from customs, as ascertained frOr
payments made into the treasury, for tn
fiscal year ending 3O,h June, 1916, {
~ $846,l 1877 %. as compared with the prece
ding fiscal year. The estimated nettrev,
nue. under the bill Of the committee an
schedule for The year commencing LIST
80 December, 1916, and closing 3Oth Noven
~ Der, l847, is $3l ,0s6, 6l5; to guard, how
os ever, against any unforeseen circumstance
- it is deemed most safe and prudent.
-. make deduction from the above amour
- Of $1,O52.558, which would reduce ii
AZ nett revenue under the bill and schedule
. minimum of $50. O34, 057.
90 Appende1 to table B is an estimate ,
the nep revenue to be derived from the bi
Of tie House, and comparison beiwee
10 lie duties and nett revenue under that bill
- and the duties and nett revenue under III
bill OF the committee and schedule. IT
20 principal difference arises from II
restoration by the bill Of the House of t
and coffee TO the free list, with few 9th
s. notifications, thus reducing the nett re,
~ nue. under the bill of the House TO 50
s6s,2S9. If from this we deduct the abe
amount of 81 ,O52 ,55s, as possible ov
'2l estimate, it will reduce the nett reven
100 under the bill Of the House to a minim
of $27, s35.73l.
49, the dutible imports for consumpti
:" under the bill of the committee and sch
25o uie, are estimated at spool ,2O9, vi,
s ing nett revenue of $3I 1885, l3.
making "a 1920. the average rate
cent of duties under that bill. If, how
.4o er. the nett revenue under that bill be
244 duced as above stated to a minimum
- $50, O34 ,057, il would reduce the dnti;