Mississippi Democrat. (Carrollton, Miss.) 1844-18??, 1846-12-30

means within our power should he render
ed available for the protection of our com
tnerce.
SECRETARY OF TREAsURY'S REPORT.
The annual report Of the Secretary OF
the Treasury will exhibit detailed state
ment of the condition of the finances
The imports for the fiscal year ending on
the 3O'h June last, were Of the value of
$l2l ,69l 1877; of which the amount ex
ported was l,346,623; leaving the a.
mount retained in the country for domes
tic consumption $llO,345,l74. The va
lue of the exports for the same period was
Sil3, 4SS,5l6; of which SlO2, 1913
consisted of domestic productions, and
81 ,346,623 of foreign articles.
The receipts into the treasury for the
same year were S29,499,247 06; of
which there was derived from customs
$26,7l2,667 80; from sales of pDbIic
lands S2.695,452 As; and from Incidental
and miscellaneous sources, S92, l26 II
The expenditures for the same period were
$2S,03I, ia 20; and the balance ia the
treasury on the lst day of July last, was
50. ,439 %.
The amount OF the public debt, includ-
ing treasury notes, on the first OF the pre-
sent month, was S24 2o6,494 60; of
which the sum of $I7,7SS,799 81 was
outstanding on the 4,h March. 1915, leav-
ing the amount incurred since that time,
So, 4j7,694 9S.
LOAN.
In order 10 prosecute the war with Mex
leo with vigor and energy, as the best
means of bringing it to a speedy and h.
norabie termination, a further loan will
be necessary to meet the expenditures for
the present and next fiscal years. If The
war should be continued until 30lh June,
IS4S-being the end of the next fiscal
year-il is estimated that an additional
loan of twenty three millions Cf dnIars
will be required. This estimate is made
upon the assumption that it will be neces-
sary to retain constantly in the treasury
fur millions of dollars 10 guard against
contingencies. Ii such surplus were not
required TO be retained, then a loan OF
nineteen millions of dollars will be snffi-
cient. If, however, Congress should, at
the present session, impose a revenue du
" on the principal articles now embraced
in the free list, 1t is estimated that an addl-
itFonai aTdtl'ti revenue cf ae1Gt Two nii-
/ lions and half, amounting, 1t Is estlmat-
ed, on The 30lh June, lS4S, to four mil
| lions of dollars, would be derived from that
source; and the loan required would be
reduced by that amount. 1t is estimited,
also, that, should Congress graduate and
reduce the price of such of The public
lands as have been long in the market,
| the additional revenue derived from thai
source would be annually, for several
years to come, between half a million and
million of dollars; and the loan req ired
may he reduced by that amount alSo.-
/ Should these measures be adopted, the loan
required would not probably exceed einh-
/ teen or nineteen millions of dollars-'eav-
ling in The treasury a constant surplus of
! four millions of drllars. The loan prppos-
! ed, il is estimated. will be sufficient to CO.
yer the necessary expenditures, both for
the war and for all other purposes, up to
the 3Oth OF June, 1913; aad an amount of
this han, not exceeding one-half, may be
required during the present fiscal year,
and the greater part ot the reminder dur
Z ing the first half of the next fiscal year.
i In order that timely notice may be Civ.
i en-, and proper measures taken, 10 etfec
the loan, or such portion of it as may be
required, it is important that the authority
OF Congress 10 make it be given at an
early period of your present session. L
: is suggested that the loan should be con
1 lracted for period of twenty years, will
! authority 10 purchase the stock and pay /
of, at an early period, at its market value
: out of any surplus which may at any tim'
be in the treasury applicable to that pur
$ pose. After the establishment; of peac'
: with Mexico, il is supposed that consl
: derable surplus will exist, and that tn
. debt NAV be extinguished in a much short
er period than that for which it may b
contracted. The period of twenty years
: as that for which the proposed loan ma
be contracted, in preference to shorte
e period, is suggested, because all expert
n ence, both al home and abroad. has show
n that loans are effected upon much bette
: terms upon long time, than when they ar
s relmbursabIe at short dates.
e Necessary as this measure is to sustal
D. the honor and the interests OF the cour
J. try. engaged in a foreign war, 1t Is NJ
/ doubted but that Congress will prompt
IS authorize it,
II THE PUBLIC EXPENDITURES.
s. The balance IN the treasury on the hr
u OF July last, exceeded nine millions
e. dollars, Notwithstanding considerable e.
Sc penditures had been made for the war d.
oil ring the months of Nay and June prece
IN ing. But for the war, the whole publ