Burlington free press. [volume] (Burlington, Vt.) 1827-1865, 1846-12-25

The sum Of SOL 900 Tor supplying deficiency in rev
enue from hostages S.15 900 hostages of Congress
and executive officers, and Sil7,55o Of the debts as
sunei by the United States the cities olihe Ds,ric
oil Columbia, are included in the above sum.
lhls excess is based on the assumption that The
whole amount Of hive millions is Outstanding of trcasu-
ry notes authorized by the OF 29I Juy Is 49, under
erenewed authority now requested to be conferred by
Congress 10 issue the same but, the whole amount
cannot be outstanding the same time on account %
the number OF notes cancelled before note is is
sued the excess OF expenditures means on the Isl
oil July ISIS, should be estimated at nineteen mill
ions oil dollars which will cover all expenditures in.
ciIhg mat OF the war, continued up to that date
Inc Importance OF keeping on hand large balance
III me treasury, say tour millions to supply the mints
with bullion Tor coinage, aud meet oil demands with
puncuality Is insisted upon and therefore the Sccrc-
ary asks Tor loan OF twenty three millions or foi
some provision TO raise that sum- though the actual
deficit on the 3oth June 1913. may not be more than
nineteen millions. As one means of aurnenting the
revenue, he suggests duty OF twenty-five per cent
on tea and coffee, which after making allowance for
consequent decreased consumption, he thinks would
yield S2,5ooOo0 This duty to be etrctual he thinks
should be put on at once, be operative on the
spring lmporalons. II would besides in his opinion
have the farther good effect of tacatinp peuoiiaon
Tor the loan he asks for The loan he recommends
SHOULD he Tor the period of twenty Yeas 10 be
ted early IN the spring, and payments 10 be made a.
the money may be wanted
The payments made on account of d.ht and n,eres,
upon debt incurred, except S5l3GO0 prior tothe tb of
March, 1913, are stated to be S32S66i7 e.
Treasury notes issued under the act of the Dol n,
July, 1916, SO S53, 100 "0 -' VI
OF the tive million loan, there has been maid into
the Treasury S3,i6 600 fN' ''''N
The entire debt on the LIST of December las, was
S2i $50 49i 60. '"''' was
The revenue receipts for the curren, yenr are esti
mated at S27 49,, 73l 'N'' NV >'''
Alter these statements and estimates the Secre,ory
next takes up the sub Treasury law which he says
does not work smoothly and is detective in some de
laiIs whlch he proceeds 10 point out rs follows
W." ueqhaie security IS provided Tor the safety Of
money III the hands Of discussing agents and no an,
preparation is made 10 pay the expenses OF transfers or
70 ehabie agents 10 pay creditors with punctuay and
uespa'ch' lhe power OF making payments IN foreign
countries through agencies foreign bills of exchange
isnot sufficiently defined This authority, events M
MeAico nave shown TO be OF the highest inportanc,
ed N"s' '''oiiiii'chd
The Tariffs then taken up, and is discussed in the
most approved tree trade ashion, that is TO saw il
mere rehash OF the thousand times exploded iaacie,
on inns SUBJECT. One example of the Secretnrv's no,
soning Will suffice tor all lie assumes as n very mod
crate estimate that by the new Tarf sixty millions
VIII be added TO the value of the products nj ncrc
ture, commerce and navigation Don't ibose snaa
In these pursuits hope they may get them
;, The reduction and graduation of prices nj The n,h
hc lands are recommended, as is also the sale of ,hs
mineral lands. The warehouse bill is landed and ,hs
esentlon O. our revenue laws over Oregon is sdyocn.
ted, together with donations ofiand in sba. ,rsiou IT,
actual settlers The ret ofiht report is cccupisJ win