The Somerset herald and farmers' and mechanics' register. [volume] (Somerset, Pa.) 183?-1852, 1846-12-22

mediately pT0yiCc oy raw lor The Trial alc
punishmenta as pirates of Spanish subjects
who, escaping the vigilance Of their gov
eminent, shall be found entity Of priva-
teering against the United States. do
not a~pprehend serious dangers from these
privatecrs. Our nary viii be constantly
on the alert TO protect cur commerce.
Besides, in case prizes should be made Of
American vessels, the utmost vigilance
will be exerted by our bloekaking squad
ron TO prevent the captors from taking
them into Mexican ports, and it IS not APP
pretended that any nation viii violate its
neutrality by suffering snch prizes to be
condemned and sold within It's jurisdic-
ton.
l recommend thai Congress should i'm
mediately provide by law for granting let
tiers of marcue and reprisal against vessels
under the Mexican flag. 1t is true That
there arc but few, If any, commercial yes
sells OF Mexico upon the high seas and it
is therefore not probable that many Amer
lean priyateers would be fitted out, in case
. law should pass authorizing This mode
OF warfare. Ii IS, notwithstanding, GER
tain that such privateers may render good
service 10 the commercial interests Of the
country, by rccapuring our merchant
ships. Should any be taken by armed yes
sells under The Mexican flag, as well as by
capturing these vessels themselves. Ev-
cry means within our power should be
rendered available for the protection o -four
commerce.
The annual report Of the Secretary Of
the Treasury viii exhibit a detailed state
ment Of the condition CT the finances
The imports for the fiscal year ending on
the Goth ofJunc last were Of the value of
1921 So, 797; Of which the amount ex-
ported was S~lI,346,G23. leaving the a.
mount retained in The country for domes-
tic consumption, sIf0.345,l74 The
value Of tie exports for the same period
was one hundred and thirteen million four
hundred and eighty eight thousand ave
hundred and sixteen dollars; of which
GI02,l4l49o3 consisted OF domestic pro-
auctions. and SIl,346,623 OF foreign arti-
cies.
The receipts into the Treasury Tor the
same year were $26,499,247 0G: Of
which there was derived from Customs
S26,7I2,eG7 81; from sales Of public
lands. ~S2,G95.452 48, and from inciden-
tai land miscellaneous sources, s92, 1876 II.
The expenditures for the same period
were ST ,03l,II4.I0, and the balance IN
the Treasury on the lst of July last was
S9,l2G.439 O9.
The amount Of the public debt, includ-
ing Treasury notes, on the first of Tie pre-
sent month, was S~24,356,404 60; of
which The sum of sI7.788.799 60 was
outstanding on The Dad OF March, 1915
leaving the amount incurred since that
time S6,467,694 SO.
In order 20 prosecute the war with
Mexico with vigor and energy, as the best
means Of bringing il 10 a speedy and hon
orable termination, a hriher loan Will be
necessary, to meet the expenditures fer
the present and the next fiscal years. II
the war should be continued until The
thirtieth Of June, I846-being the end Of
next fiscal year-it is estimated that IN
additional loan oftwenty-lhrce millions Of
dollars will be required. This estimate
IS made upon TIE assumption that 1t will
be necessary to retain constantly in the
treasury four millions ofdo!lars, to guard
against contingencies. II such surplus
were not required 10 be retained, thcn q
loan OF nineteen millions Of dollars would
be sufficient. II. however, Congress
shonid, At the present session, impose a
reyenu duty OF the principal articles now
embraced in the free list, il is estimated
that an additional annual revenue Of about
two millions and a half, amounting, ii is
estimated on the ihislie,h OF June. 1913,
10 four miilio.is Of dollars, would be de-
rived from that source; and the loan re-
CURED wouid be reduced by that amount.
lis estimated, also, that should Congress
graduate ard reduce the price % such Of
the public lands IS have been long in the
market, tic additional revenue derived
from the source would be annually, for
several years 10 GENE, between half mil
lion and q milton 81 dollars; and the loan
required may be reduced by that amount
also. Should these measures he adopted
the lean required would not probably ex-
cecd eighteen or nineteen millions Of dol
lars-!eaying in the treasury a constant
surplus OF four millions Of dollars. The
loan proposed, il is estimated, viii be suf-
ficient 10 cover the necessary expenditures
both for the war and Ter ali other aurpo-
ses, mp % the ihiriic!h ofJuue, 1913; and
an 2taount uf This lean, not exceeding one
half, may be required during the present
fiscal year. and the greater part Of tie re-
mainder during the first half of the fiscal
year succeeding.
In order that timely notice may be Civ
en-, and proper measures taken to effect
the loan, or snch portion Of il rs may be
/ ro C.tir,1 - e 49, -. - - III - 1.