The Yazoo City Whig. [volume] (Yazoo, Miss.) 1844-1851, 1847-01-01

commerce.
The annual report ofihe Secretary Of the
Treasury will exhibit detailed statement Of
the condition Of the finances. The imports
for the fiscal year ending oU the 3 b Of June
last, were &C the value Of 1921 ,69l,79B, OF
which the amount exported was s. ,S46,623
leaving the amount retained in The country
for domestic consumption $llO,345, IVA.
The value Of the exports Tor the same pc
Rod was s. l3, ASS. SIG; Of which 8 lO2L4l,.
S93 consisted Of domestic productions, aud
Sll 1896, 500 OF foreign articles.
The receipts into The treasury for The same
wear were tweuly,Hip lions four hundred
aud ninety nine thou 0na TWO hundred
and forty seven doll sixty cehts, ~
which there was derivrq customs twenty
six millions seven hund and twelve thou.
eand six hundred and leven:dOllal nd
eighty seven cents; irnW he sales OF ic
lands two millions s'r hppdTed and n b.
four thousand four hut nd hlty-tw BIZ
lars and lOrIy~eight cens 49, from inc sn>
tai and miscellaneous DuTces ninety Two
thousand one hundred aua twenty six dollars
aud seventy. one cents. The expenditures
for the same period were twenty>eight mil,
lion ihiriy>one thousand one hundred and
balance in the treasury on the FIRST day Of
July last, was nine million one hundred anc
'Wenty-slx thousand four hundred and thirty
nine dollars and eight cents.
The amount Of public debt including treas
ury notes, on the first Of the present month,
was twentysiour million two, hundred aud IF.
,y>six thousand four hundred and ninlv- -four
dollars sixty>fouT cents: Of which the sum Of
seventeen million seven hundred and eightys
eight thOusand seven hundred and niniy' nine
dullars AID sixiy-iwo cents was outstanding
on the 9TH Of March, 1915, leaving The amount
incurred since that time, six hundred and
ninIy>fouT dollars and nlnty- eight cents.
Ia order to prosecute the war with Mexico
with vigor and energy, as the best means Of
bringing il to a speedy and honorable teTm-
nllion a further loan will be necessary 20
meet the expenditures for the present and
uext fiscal year. lf the war should re continu-
81 uuit the 30th of June, lS4S, being the
end OF the next fiscal year. Il is estimated
iiat an additional loan Of $4,000 900 will be
acquired. This estimate is made upon this
assumption that il will be necessary TO retain
constantly in the treasury four millions Of del
Jars to guard against contingencies. lfsuch
surplus were not required 10 be retained,
then loan Of nineteen millions Of dollars
would be sufficient. lf however, Congress
should, az the present session, impose a rev,
Cnne duty on the principal articles now EN-
bTaced IN the free lsi,it is estimated that an
additional annual revenue Of about two mil
lions and half, amounting, il is estimated,
on the Both Of June, lS4S, 10 four millions
OF dollars, would be derived from that source
and the loan required would be reduced by
that amount.
tits estimated, also, that should Congress
graduate and reduce the price Of The public
lands as ha' G been long in market, the add;-
tional revenue derived from that source
would be annually, for several years to come,
between half million and a million Of dol
lars; and the loan required may be reduced
by that amount also-Should these measures
be adopted, the loan required would not prob
ably exceed eighteen or nineteen millions
Of dollars-leaving in the treasury a constant
surplus Of four millions Of dollars. The
loan proposed, il is estimated, will be suffi
Gent TO cover the necessary expenditures
both for the war and for all other purpose, Or
10 the Both Of June, 1913, and an amOnn
Of this loan, not exceeding sne~half, may be
required during the present fiscal year, and
The greater part Of the remainder during the
first half Of the fiscal year succeeding.
In order that timely notice my be given
and proper measures taken TO effect the loan
or such portion oft as may be required, it i
important that the authority Of Congress L
make il be given at an early period Of you
present session. II is suggested that III,
loan should be contracted for period O
twenty years, with authority to purchase tn
stock and pay il of, at an earlier period, a
lis market value, out of any surplus whc
may at any time be in the treasury applca
lie TO that purpose. After the establishment
oi peace with Mexico, il is supposed that q
considerable surplus will exist, and that th
debt may be exlinguished in much shoTle
period than that for which il may be contract
ed. he period Of twenty years, as that 70
which the proposed loan may be contracted
in reference to shorter period, is suggesle,
because all experience, both at home AM
abroad, has shown that loans are effected
upon much better terms upon long time, thar
when they are reimbnTsable al short dates.
Necessary as this measure is, to sustain
the honor and the interests Of the country
Engaged 10 a foreign war, it is not doubted
bot that Congress will promptly authorize il
The balance in the treasury on the first O
July last exceeded nine millions Of dollars
Notwithstanding considerable exp, ndilure,
lad been made for the war during the months
ct May and June preceding. But Tor III,
war, the whole public debt COIL and woulC
have been exlinguisbed within a short periot
end 1t was part Of my settled policy to d,
20, and thus relieve the people from its bur
den, and place the Government in position
which would enable il to reduce the publ,
expenditures TO that economical standar,
which is most consistent with the geneta
welfare, and The aud wholesome progress o
our institutions.
Among ourjnst causes Of complaint agains
Mexico, arising out Of her refusal to treat 70