Jeffersonian Republican. [volume] (Stroudsburg, Pa.) 1840-1853, 1847-12-16

der the operation of the tariff act of 1912. and
seven months during which the tariff act of Is48
was in force. During the five months under the
act OF iS42, the amount received from customs
was 81, ,S42, ,306 90, and during the seven months
under the act of ls46 the amount received was
$l5.905, ,557 76.
The nett revenue from customs during the
year ending on the first of December. IS46. be-
ing the last year under the operation of the Ia
rim act OF lS42, was S22,97l ,403 10; and the
Eett revenue from customs during the wear end.
ing on the first of December, is47. being the
first year under the operation Of the tariff act of
ls46, was about $3l 500, 900; being an increase
OF revenue for the first year under the tariff of
1916, OF more than $500, 900 over that of the
last year under the tariff Of lS42.
The expenditures during the fiscal year end
ing on the 30th of June last, were S5g.45II17
65; Of which SO, 522 ,Os2 81 was on account of
ayment of principal and interes, Of the public
debt, including treasury notes redeemed and not
funded The expenditures, exclusive of paw
ment of public debt. were S55929, ,095 %.
1t is estimated that the receipts into the trea
snry for the fiscal year ending on the 30h of
June, l84S, including the balance in the treasu-
ry on the first Of July last, will amount to Si2,-
sa6,545 80, of which $3l 900 900, it is estima-
ted wall be derived from customs S3 SOC, ,OO1
from the sale OF the public lands $4OO, 900 from
incidental sources. including sales made by the
S0licltor OF the Treasury and So ,285, ,29I 55
from loans already authorized by law, which.
together with the balance in the treasury on the
first OF July last, make the sum estimated.
The expenditures for the same period, if peace
with Mexico shall not be concluded and the
army shall be increased as is proposed, will
amount inclucing The necessary payments on
account of principal and interest of the public
debt and treasury notes, to S58,6l6, ,o6o OF.
On the first of the present month. the amopnt
of the public debt actually incurred, Including
treasury notes, was S45, 5,659,659 40 The pub,
lie debt due on the fourth of March, 1915. inclu
ding treasury notes, was $l7,7S9, ,799 81; and
consequently the addition made to the public
debt since that time is S27, ,s70,S59 70.
vi the loan of $23,OOO,OO authorized by
the act Oh tile 2Sth OF January, 1917. the sum of
five millions was paid out to the public credi-
tors, or exchanged at par for specie; the remain
ing $lS,O00,000 was offered for specie To the
highest bidder NOT below par, by an ADVERTISE
ment issued by the Secretary of the Treasury
and published from the ninth of February until
the tenth of April, 1917, when it was awarded
to the several highest bidders, at premiums va
rying from one-eighth of one per cent to two
per cent above par. The premium has been
paid into the treasury, and the sums awarded
deposited in specie in the treasury as fast as il
was required by the wants of the government.
To meet the expenditures for the remainder
Of the present and for the next fiscal wear.
ending on the thfrtfeth of June, 1919, further
loan, IN aid OF the ordinary revenues of the gov
ernment, will be necessary. Retaining a suffi.
cient surplus in the treasury, the loan REQUIRED
for the remainder Of the present fiscal wear will
be aboui $rs, SOC, 600. II the duty on tea and
coffee be imposed, and the graduation of the
price OF the public lands shall be made at an
early period of your session., as Recommended,
the loan for the present fiscal year may be re-
duced to seventeen millions of dollars. The
loan may be further reduced by whatever A.
mount oil expenditures can be saved by militia
ry contributions collected in Mexico. The most
vigorous measures for the augmentation of,hese
contributions have been directed, and yery
considerable sum is expected from that source.
Its amount cannot, however, be calculated with
any certainty. 1t is recommended that the loan
to be made be authorized upon the same terms.
ana Tor the same time, as that which was au-
thorIzed under the provisions of the act of the
5Sth Of January, IS47.
Should the war with Mexico be continued un.
I'll the thirteth of June 1949 it is estimated that
a further loan of $2o,50o,0U0 will be required
for the fiscal year ending on that day, in case
no duty be imposed on tea and coffee, and the
puoifc lands De not reduced and graduated in
f'iSS' ~'sN ho COHlllDuliOnS snail be
collected in Mexico. If the duty on tea and
coffee be imposed, and the lands be reduced
and graduated in price. as proposed, the loan
may be reduced to $l7 1000, 900, and will be-
still further reduced by the amount of military
contributions which may be collected in Mexi-
co. 1t is not proposed, however, at present, to
ask Congress for authority to negotiate this
loan for the next fiscal year, as it is hoped that
the remainder of the present fiscal year, aided
oy military contributions which may be collect
ed in Mexico, may be sufficient If, contrary
to my expectation, there should be a necessity
Tor it, the fact will be communicated to Con-
gress In time for their action during the present
session. In no event will sum exceeding
$6,000,000 of this amount be needed before the
meeting OF the session of Congress in Decem-
Der, iS45.
The act of the thirtieth of July, 1916, "redu-
cing the duties on Imports" has been in force.
since the tirst Of December last and | am grzs-
ihed to state that all the beneficial effects winch
were anticipated from its operation have been
fully realized. The public revenue derived.
from customs during the year ending on the first,
OF December. lS47, exceeds by more thar eight
millions Of dollars the amount received in the
proceeding year under the operation of the act.
OF ls42, which was superseded and repealed
by it, Its effects are visible in the grea.,and al
m m Dlp1