Vermont phÅ“nix. [volume] (Brattleboro, Vt.) 1834-1955, 1847-12-17

Secretary Of the Treasury and IRON the m T.
Herald, one Of that Of the Secretary ofWm.-
These abstracts tell the whole story, in far more
acceptable shape ihnn the Secretaries them
selves; for, TO our mind, nothing y ,lnler than
musty, pressing, lang windcd public documents.
TREASURY DEPARTMENT.
Mr. Walkers Report, the most extraordinary
of I'll the documents accompanying the Presi-
dents Message, Is &C enormous length, and in the
usual bragralocia and inflated style Of its author
We cannot now examine il elaborately, by way
of review, or reply 10 its numerous fallacies, or
expose the tricks Of the demagogie, which arc
20 palpslle 10 the intelligent reader, In many Of
lis statements and arguments. But we will en-
deavor to notice briefly the prominent points in
the report
The Secretary first gives us a statement and
estimate of the national finances for the past,
present, and following fiscal years, embracing
period Of three years, and terminating on the
list Of Jaly, iss9, or about four months after MIR
Folks term expires
The expendiburcs for these three years arc
thus stated the first being actual expenses, and
the last two estimated, each year ending on the
Soth of June, viz: -
lo47, eJ9A3lilN
ts4S, bhs5o5i5oO
Il Is worthy Of remark how near each other
MIR Walker makes the expenditures Of these
three years appear considering bow much we
have done By way Of conquest the last year
which, We presume, cannot be repeated for the
two years TO come. The estimate for the year
ending sOth June, iSs9, Is made, be informs Ne,
on the presumption that the war may continue
until that time.
n thc war Is continued until the ist Of July
next. and no additional revenue provided by
Congress, or received from contributions by
Mexico, the Secretary says there will be a def
cit Of means in the treasury Of Si5, 72s,li4- He
thinks, however, that mn additional reyenue OF
about 81 100000 from two sources, viz. duty
on IVA and cofyEE, s. 900, 900, and from re-
duction and graduation in the price Of public
lands, and from the extension Of presumption
rights 20 settlers on the lands, 81 ,5o0j0 900.
With regard to the military contributions lev
led on the people Of Mexico, the Secretary Is
not prepared 20 give definite estimate Of the
amount they may be expected to produce. The
export duty on specie from Mexico, however, he
thinks ought 10 yield at least 100000 per an
NUN. The duties ON imports collected by the
Mexican Government have, he says, varied from
six to twelve millions Of dollars per anuum, and
with the ports and interior, and the roads in our
possession, they ought not 10 be less, but even
greater, in the hands Of the United States mill
taTy authorities
The internal revenue collected by the Mexi-
can Government, as well As by Departments, be
says, was about thirteen millions Of dollars per
annum but he does not believe that any very
great portion Of this revenue could be collected
under our military system
In view Of the uncertainty Of the amount Of
these military contributions, and II the proposed
measures for augmenting the revenue BY duties
...l -
pubic lands, ire not adopted, the Secretary asks
for authority 10 negotiate n loan Of eighteen and
half millions Of dollars; and II the war be
continued for one year from next July, he asks
for an additional loan Of twenty and q half mil
lions Ii 10 not supposed that more than the frsi
loan will be wanted until the meeting Of Con
gress one year hence, although possibly sia
millions may be required before that time
Should this be the case, there will be ample time
to inform Congress and ask for that amount.
The remarks Of the Secretary with regard fC
the operation Of the Sub Treasury and new Tar
in we must pas over /; a. also the distinctions h
draws from the prosperous state Of the country
particularly its agricultural and commercial in
terests, from the export Of breadstuAs during
the past year.
After an elaborate and detailed statement O
the issue Of Treasury Notes, and the negotiation
Of the Government Loan, the building Of a new
Custom-House at New Orleans is mentioned
toward which the First Municipality at New
Orleans has made magnificent donation to thu
United States Government in the shape Of /
whole public square, on which Il Is to be erect
cd. The Secretary Of the Treasury has accept
ed the donation, and is about to carry out hi
trust.
Alter this comes a chapter on Lighthouses
and a few remarks on the United States Coas
I Survey.
The Warehouse system Is also spoken Of Al
length, and the measures stated in detail b,
which Mr. Walker expects to improve il 50 as 4
operate most iayorably on the merchants and
the business community generally.
The Report is accompanied with numerou,
statistical tables, and winds up with grand -four
ish on the benign effects Of free trade