Vermont watchman and State journal. [volume] (Montpelier, Vt.) 1836-1883, 1847-12-23
TREASURY DEPARTMENT.

Mr.. Walkers report, the most extraordinur
OF all the documents accompanying the Presi
dents Message, Is Of enormous length, and
the usual braggadocia and inflated style of il
author. We cannot now examine il deliberately
by way Of review, or examine it's numerous fa
ocies, or expose the tricks OF the demagogue,
which palpable to the intelligent reader, in
many OF its statements and arguments. But we
will endeavor TO notice briefly the prominent
points in the report.
The Secretary first gives us statement and
estimate of the national finances, for the past
present, and following fiscal years. embracing
period Of three years, and terminating on the
lst of July, l849, or about four months ater Mr.
Folks term expires.
The expenditures for these three years are
thus stated the first being actual expenses, and
the last two estimated, each year ending on the
Both of June, VIZ:
1917, S5945l.177
1913, SO Cos GEO
l6l9, 55544,94l
II is worthy of remark how near each other
Mr. walker makes the expenditures of these
three years appear, considering how much VIC
have done by way Of conquest the last year.
which, we presume, cannot be repeated for two
years to come. The estimate for the year end
ing Both June, lsI9, is made, he informs US.
on the presumption that the war may continue
until that time.
If the war is continued until the lst of July
next, and no additional revenue provided by
| Congress, or received from contributions by
Mexico, the Secretary says there will be deficit
of means in the Treasury of SI5729,l14 lie
thinks, however, that an additional revenue of
about 900 from two sources, viz: duty
on TEA and COFFEE, S3000,000, from a reduc.
ton aud graduation in the price of pGblic lands,
and IRON the cxtention Of presumption rights to
settlers on the lands 81 100000.
With regard to the military contributions levi
ed on the people Of Mexico, the Secretary is not
prepared to give a definite estimate Of the a.
mount they may be expected TO produce. The
export duty on specie from Mexico however, he
thinks, ought to yield at least S500,OOO per
annum. The duties on imports collected by the
Mexican Government have, he says, varied from
six to twelve millions of dollars per annum, and
with the ports and interior, and the roads in our
possession, they ought not to be less, but even
greater, in the hands of the United States mill
tary authorities.
The internal revenue collected by the Mex-
can Government, as well as by Departments, he
says, was about thirteen millions of dollars per
aunum; 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 if the proposed
measures lar augmentlng the revenue by dutl as
on tea and coffee, and increasing the sales of the
public lands, are not adopted, the Secretary asks
Tor authority to negotiate loan of eighteen and
a half million of dollars; and if the war be con-
tlnued for one year from next July, he asks for
an additional loan Of twenty and half millions
1t Is not supposed that more than the first loan
VIII be wanted until the meeting Of Congress
one year hence, although possibly six millions
may be required before that time. Should this
be the case, there will be ample time 10 inform
Congress and ask for that amount.
The remarks Of the Secretary with regard to
the operation o? the Sub Treasury and new Tar
III we must pass over as also The deductions
he draws from the prosperous state of the coun-
try, particularly its agricultural and commercial
INTERESTS from the export of breadstuffs during
the past year.
After an elaborate and detailed statement Of
the issue of Treasury notes. and the negotiation
OF the Government Loan, the building of a new
Custom House at New Orleans is mentioned
towards which the first Municipality at New
Orleans has made magnificent donation 10 the
United States Government in the shape Of n
} Whole public squays, on which it is TO be erected
The Secretary of the Treasury has accepted it.
After this comes a chapter on Light Houses
and few remarks on the United States Coast
Survey.
The Warehouse system is also spoken of at
length, and the measures stated in detail by
which Mr. Walker expects to Improve 1t so as tc
operate most favorabIy On the merchants and
the business community generally.
The Report Is accompanied with numerous
statistical table, and winds up with grand flour
ish on The benign effects of FREE TRADE
NJ Y. Express.