The Charlotte journal. [volume] (Charlotte, N.C.) 1835-1851, 1846-12-24

our commerce.
The annual repor, of the Secretary Of
the Treasury vii exhibit u detailed state.
meut of the condition of the finances
The imports for the fiscal year ending on
the 18th of June last, were Of the value OF
SI2l ,69l ,797 Of which the amount ex.
ported was Sll ,346 ,623, leaving The a.
mount retained ia the Country for domes-
tic consumption SllO,345, ia. The va
lue Of the exports for the same period was
Sll3.4ss, Sic of which slO2, lll,s93
consisted Of domestic productions, aud
81 ,346 ,623 Of foreign articles.
The receipts into the Treasury for the
same wear were S29, 1924 06; Of which
there was derived from customs $40, 1l2,.
6G7 s., from sales Of public lands ST.
69I Ii2 Il, and from incidental and ms
ceIaoe0us sources S92,I2 Il. The eS.
peudiures for tho same period were SIS.
03l,lli 20, and the balance ia the treas
lry on the s. day Of Jaiy ast, was So,
l26 1870 o..
The amount OF The public debt, inclul-
ing treasury notes, on the lst Of the pre-.
sent neortlf vas s2i aJJ 49i co; 81 which
lie sum Of Sl7.7-s,591 62 VAS ou,slaud-
ing on The ith o: March, lsl5, leaving the
amount incurred since that time Sc, 461,.
69l o..
In order 10 prosecute The war With Mex.
ico with vigor and energy, as the best
means Of bringing it to a speedy and hon
nrahIe termination, further loan will be
necessary, TO meet the expenditures for the
present and the next fiscal years. Ii The
war should be continued uatl the 3Oih Of
June, ls4o-being the end o, the next tis-
cal year-ii is estimated that az additional
loan Of S23,000,0 goo will be required
This estimate Is made upon the assumption
that II will be necessary 10 retain constant
IL 10 the treasury Si,O0O,000, 10 guard a.
gainst contingencies. / such surplus were
not required TO be retained, then loan Of
SO 200 600 would be sufficient. IT, how.
ever, Congress should, al the present ses.
SION, impose a revenue duty on the princi
pal articles now embraced IN the free Inst,
Il * estimated that an additional annual
revenue OF abou, 81, 500 600, amounting,
Il IS estimated, on the 30th Of June, lsls,
10 81 900 GOO, would be- derived from that
source; ard Tie loan required would be re.
duced BY that amount. II IS estimated,
also, that should Congress graduate and
reduce the price OF such Of thu public lands
as have been long IN The market, the add.
tlOnal revenue derived from that source
would be annually, Tor several years 10
come, betaeen hall million anu million
II dollars AMI The loan required may be
reduced BY that amount also. Should
these measures be adopted, tie loan re-
CURED would not probably exceed i or
$4,000 000-ieayng ~ the treasury
constant surplus Of 81 900, 900. The loan
II IS estimated, vii be sufficient
10 cover the necessary expenditures, both
for The var and FOR all other purposes, up
to Tie 1854 of june, 50 ana an amour.
OF this loan, not exceeding one hall, may
be required during the presen, fiscal year,
and the greater partol the remainder dur.
ing The first half Of the fiscal year sue
ceeding.
Ia order thai timely notice may be giy.
eD, and proper measures taken to effect
the loan, or such potion Of Il as may be
required, /! Is lmportaa. lha, tie authority
Of Congress 10 make !, be given al an ear.
" period Of your present session. |, IS
suggested that the loan should be conirac.
tel for a period Of twenty years, with 81.
.horry 70 purchase the stock and pny il
of, at ~ earlier period, n ~ marke, val
ue, out Of any surplus which may a. any
lime BE- 10 the treasury applicable 10 that
purpose. Alter the establishment q peace
with Mexico, II is supposed that O cOnsid
cradle surplus Will exist, AMI tina! the debt
may be extinguIshed in a much shorter
period than that for which il may be con
tracted. The period Of twenty years, as
that for which the proposed loan may be
Contracted, in preference to a shorter pc.
Rod, IS suggested, because ali experience,
both al home and abroad, has shoan that
loans are effected upon much better tern,
upon long time, than vhen they are relm-
Jursable at short dates.
Necessary as this measure is, 70 sustain
the honor and the interest Of the country,
engaged N a foreign war, il IS MT doubt.
cd 81. thai Congress. viii promptly author.
ize it.
The balance in the treasury on tire first
Of July last exceeded 50 900 900. notsith.
standing considerable expenditures had
been made for the war during the months
Of Nay and June preceding. But for the
war, the whole public deo, could aud would
have been eyliDgushed within a short &c.
nod and II was part 81 my sel,!ed pol.
ICY to do 80, and titus relieve the people
from is burden, and place The government
IN position which would enable il to re.
dacc the public expenditures to that eco.
n0mlcnl standard which IS most consistent
with .he general welfare, aud the pure anl
wholesome progress Of our institutions.
Among our just causes Of complaint a.
gainst Mexico, arising out Of her refusal 10
treat for peace as well before as sincc the
war 50 uulusily commenced on her part, are
the extraordinary expenditures IN which we
have been involved. Justice to our own
people "1li make it proper that Mexico
should be held resnau.fFtn f., ,i.,eo ~.