Juliet signal. [volume] (Juliet [i.e. Joliet], Ill.) 1844-1???, 1847-12-21

has been paid in the Treasury, and the
same awarded, deposited in specie in the
treasury at last as it was needed by the
wants of government.
To meet the expenditures for the re-
mainder of the present, and the next fis-
cal year, ending on the 30th of June 1s--
AZ, further loan, in aid of the ordinary
revenue, will be necessary. Retaining
sufhcient surplus in the treasury the loan
required for the remainder ofthe present
fiscal year will be above el6,
lfthe duty on tea and coffee be imposed.
and the graduation of the public lands
shall be made at an early period of your
session, as recommended, the loans for
the fiscal year may be reduced to. ST.
100000. They may be further reduced
whatever amount of expenditures canbe
saved by the military contributions col
lected in Mexico. 4 The most vigorous
measures for the augmentation of these
contributions have been directed; and
very considerable sum is expected from,
tnat source, Its amount cannot, however.
De calculated with any certainty. 1t is,
| recommended that the loan to be made be
authorized upon the same terms and for
the same time which was authorized under
the provisions ofthe oath of January .ls47.
| Should the war with Mexico be coptin.
ued till the Both of June, lS49. il ia esti..
mated that further loan of $40. 500 600.
will be required for the fiscal year ending.
on that day, in case no duty on tea
ard coffee be imposed, and the lands
reduced and graduated in price as propo4
sed, The loans may be reduced to eli.
O0O, 900; and viii be subject to be still fur.
Their reduced by the amount of the militia
ny contributions which may be collected
in Mexico. 1t is not proposed, however,
to ask Congress for authority to negotiate
the loans for the next fiscal year, as it is
hoped that the loans ssked for the re-.
maInder OF the present fiscal year, aided
by military contributions, which may be
collected in Mexico, may be sufficient
If, contrary to my expectations, there
shall be necessity for it, the fact will be
communicated 10 Congress in slime for
their action, during the present session.
In no event will sum exceeding sc, OOO,-
600 of this amount be needed before the
meeting ofthe session of Congress OILS
48.
The act of the 3Oth July,,ls46 reducing
the duties on imports has been in force
since the 1st of December last, and / am
gratifed TO state that all the beneficial eff.
fects which were anticipated from its ope.
rations have been fully realized. The
public revenue from customs during the
year ending 1st of December, ls47, ex.
ceeds, by more than $4,000, 900, the a.
mount received in the preceding year,
under the operation ofthe act of 1912, and
which was superseded by it. Its effects
are visible in the great, and almost unex-
ampled prosperity which prevails in al
mos: every branch OF business.
While the repeal of the prohibitory and
restrictive duties Of the act of 1912. and
the substitution in their place of reasona-
Bile revenue rates levied on articles inn
ported according to their actual value, has
increased the revenue and augmented our
foreign trade, all the great interests have
been advanced and promoted; the great
interests have been advanced and promo
ted; the great and important interests
which had been not only too much nega
lected but actually taxed by the protective
policy, tor the benefit of other interests
have been relieved of the burdens which
that policy imposed upon them; and our
farmers and planters, under the more Just
and liberal commercial policy, are finding
new and profitable markets abroad for
their augmented products. Our commerce
is rapidly increased, and is extending more
widely the circle of international exchan-
ges. Great as has been the increase of
our imports of the past year. our exports
! of domestic products sold at foreign mar
ket, have been still greater. ..
Our navigation interests are eminently
prosperous; the number of vessels built
in the United States is greater than du.
ring any period ofequal length. Large
profits have been derived by those who.
have constructed, as we'll as by those who
have naTigated them. Should the ratio
OF increase in the number of our mer-
chant vessels, be progressive, and be as
great tor the future as during the past
year, the time is moi far distant when our,
tonnage and commercial marine will be
larger than that of any other nation in the
world. Whilst the interests of agricul-
ture, it is highly gratifying to observe that
our manufactures are also in prosperous
condition. ..
None ofthe ruinous effects upon these
interests which were apprehended by some
as the result of the operation of the reve-
nue. system, as established by the act of
1916, have been experienced. On the
contrary, the number of manufactures.
and OF the amount of capital invested in
them is rapidly increasing; affording graf
flying proof that American enterprise and
skill, employed in this branch of domes.