The Kalida venture. [volume] (Kalida, Ohio) 1841-1865, 1846-12-31
SYNOPSIS OF THE SECRETARY org
THE TREASURY'S REPORT.

The receipts of the fiscal year ending the
9th Of June werc-from customs, $20,7l2,
667 81; from public lands $2,694,4 AZ;
miscellaneous, 500, 1875 7l-iotul $s9, ,490.-
BIT 06, which with the balance in The treas
ury of $7,65s,306 %, make The whole
means Of the government, S37. l57, 1858 %.
The expenditure for the same period was,
$2S,03l ,ll4 90; ;leavng balance in the
tereasury at the end Of the fiscal year of $9,-
6,430 0e.
The estimated receipts for l647 are, ex-
elusive of treasury notes and loans s;-irom
the usual sources, $3l, ,355,73l, from ,reas-
ury notes and loan, $l0,O00,0oO, which.
with The balance in the treasury make the to-
tai means as estimated, $50, ,462, ITO 0s, and
the estimated expenditures for 1877, should
the war continue, $55,24l,2l2 Oh. Excess
of expenditures ever means S4,779,042.--
The Secretary also estimates tho receipts
and expenditures for tho year l64S:-Re-
cep,s, at $27, ,220,957 90, expenditures
$45, ,7s ,7S4 81, excess of the latter, over
eighteen and half millions. This excess
is based ON tho assumption in regard to The
outstanding treasury notes, the whole ot
which cannet be out al once, which rendeis
the excess about nineteen millions, which
will cover all expenses, including that Of
tho war, up 10 July lst, lS4S. A balances =
he says, of four millions should always be
in the treasury; ii will therefore require
loan of twenty. three millions, unless addl.
,ional revenue be raised by some new pre-
visions of law.
The import of tea into the United States,
during the past year, was nearly seventeen
million pounds, valued at near four millions
dollars; of coffee, l2l 1896, ,054 pounds, val
ued at less than eight million dollars A du-
,y of25 per cent. would yield, making full
allowances, 2,5QQ,00O. This duty would
be rendered nugsIpry, in part, It was not
imposed so as Is go into effect not later
than tho LIST of January next. Should this
duty be imposed, the loan need not exceed
nineteen millions, but the report advocates
a long term, twenty years, for the loan to
run, the stockIo be purchaseable by Govern
ment at all times, and at the market price.
He recommends a duty Of 25per cent. on
tea and coffee which is equivalent to about
2 cents pound on coffee, and yielding reV
enue Of nearly three millions of dollars, to
I be paid by drinkers Of tea and coffee. s
The amount of,reasury notes paid under
E the act ofthe 10Th August, was $l7, ,466 81 ;
the amount of principal of the public debt
nearly two millions, and Of interest on the
: same, over million and half. This was
3 on the debt incurred before the 4lh Of
March, lS45. Less than four millions of
treasury notes were issued under the act of
22d July last OF the reccn, FIVE million
: loan, So ,46l 900 have been paid in.
9 The Secretary states that the revenue
Q was declining at the date ofthe repeal of the
tariff of 1912. During The first five days ef
J, the new tariff, the duties collected in Bati-
more, Philadelphia, and New York, was
d $446, ,S02, ,97--moro than twice the amount
! collected in the same period Of le45, under
i the old tariff This rate Of augmentation,
y though, it is not supposed will continue.
The constitutional treasury has been full
e ly carried into effect. Defects have been
. discovered in tho ACT, adequate security not
>, being provided for monies in the hands O!
y the disbuaing agents, the number Of clerks
i are insufficient, should be twenty instead Of
ten, and there is no provision for the pay