Southport telegraph. [volume] (Southport, W.T. [i.e. Kenosha, Wis.]) 1840-1850, 1847-01-06
From the New York Evening Post.
TIE TREASURY REPORT.

The secretary estimates tie expenses
OF The nation for year which will end on
the Both OF June, 1647, $55,24l,2l2 o9.
Tie receipts For the same year, from va
rious sources, incIud ng loans and treas
ury notes, will be so, $50, ITO %, leaving
balance Of $i,779.042 OIL to be provided
for. The expenditures for the year ending
On the 3Jh Of June, 1913, are estimated,
should the war continue, SD ISL .7e4 d,
end tie receipts Of the same year al 49,
OC0,000
This will leave balance against the
government on Tie Is, Of July, lS4s, of
SIS. 500. 500 50. But as Il is deemed
prudent. particularly in me OF war, 10
keep a balance Of four millions of dollars
in the treasury, In order TO supply he minis
with bullion for coinage, and to pay The
creditors of the government their demands
a, all times withlpunc.uality, il will become
necessary for the government TO provide
more than this amount. The secretary
therefore suggests The expediency OF Dor.
towing twenry-thIee million OF dollars, TN
less The revenue be increased Dy duties on
certain articles which now pass the custom
house free.
The plan Of the secretary is to- lay du-
~ of twenty FIVE per cen, on the teas and
c, #. imported which, il is esi: united, void
producc annually two m Hons and hal.
This duty, he advises, should 60 Immed'~
a,ely mo effect. otherwise II would have
the { fl CT of raising the prices Of tea and
ccff,e already IN the market, or which
might be introduced in anticipation of The
law, greatly TO the emoluent OF individuals
bu, without bringing anything into the
treasury. Another advantage OF this duty
would be, that it would strengthen he
credit Of the government. Capitalists
would lend more freely when they saw
this provision made for repienish'ng the
treasury. A government which, when II
finds itself obliged to borrow, lays Tax to
fnrni.h the means OF pigment, is p city sure
10 fi:r! mcn will ng 10 become It's creditors.
There IS O cui Gus fact stated in TIE re-
30 conct rnng The decl ne of the revenue
utdar the tariff We hive just tepealed.-
The sum received from the customs do
ring The year EN- ing on The 3hh OF June
Isl, fell short of the amount Obtained he
wear preyious, BY almos MIL on Of dol
las. This seems TO have been owing TO
tie prohib tory caaracer of the specific
du.ics. Mr.. Walker shows that Tor, three
yea S last, the proportion OF revenue rais-
I'd BY spec tic dllies, compared VIII TINT
raised ly du les levied on tho value of tho
commodities imported. Las been contln-
ual Y giowing smaller.
|, is. in fact, lie nature OF spec nc gu.
tes on manufac ufes TO become moe and
more prohih tory. A the aftlc'es on which
,hev arc Imposed are produced more chea p
" hy The improvement OF machinery and
mechanical process, The spec fc daily be-
comes heavier TAX in proportion 10 ther
v,lua, ard more and more disc, uraeeS
their importation. The iepea; o. these
specific duties was therefore a lucky nd
dance. as far as The revenue is concerned.
AID ms, ties Mr.. WaIker in es'im ting n
higher revenue from the customs for III
next two years than we Obtained las; We r.
The changes which The repo proposes
in lho law cstah' shing the constitute :al
tie lsury, do not afiec; the prin' pie o! that
law. Tia it was dawn up in slorcnit
manner, and that i, would Ielul e SIN
amendment 10 make il work well, We sup
pose was undsrs DOL by aay BIO Iy who had
much SIX Il in practical finance, at the me
il raised. | was clumsy model Of AL g y
&c lent invent on. a d 'equi ID Il be per-
fecled by Improvements Suggested by prac;i~
cal men On" Of lie impro, enIenls recon
mendcI by Mr.. WaIker, is the es abllsh
men. Of o:areh mibl IN The city Of New
70 k.
1t was thought by m ny, when tie Goa
sflInt ontl treasury bill passed last wHter.
ID / he establishment of branch mint, lie
s,esi OF all depos tories Of he precious
meia!s IN This city, should form a pa o.
the scheme, and 1t was mater OF sap~
pom mcnt that ii did rot. Experience has
s'nce Shown is necessity.
Tie gumenI by which Mr.. Walker OK.
poses the nonsense Of The ptoIcctioniss
concerning home maIket IS very wei
mnnaged. The manufacturers build n
lew large nils, with a vast appara'u US Of
mach merry, collect abou! them few work
men, cause laws TO be pissed dscourag ~
commerce and Withdrawing men from the
oct up.,ioEs connected with it, and then
boas, that they have created home mar
ke,. As il the same number Of people
employ ed in commerce d no,cons- me as
much grain, and as much beef and pork, as
if they were al wo'k in manufactures. -
Tie manufacturers leave out Of sight the
home market created by shI pbuildets. ia.
sf'ng men, persons engaged IN 70 watdiug
on the canals and railways, and all the inn
mense class Of laboring men 10 whom the
exchange Of products with other ma, ons
gives occupu'Ioa.
We have left ourselves no space to re
mark on the res, of the report, which con-
ialEs some suggestion of Importance in le-
gard 10 the public lands, the es ablish-
men, of collection sircis in Oregon, The
survey OF our coast, and The es,abl shment
Of ghthouses.
HAr.-The annual crop of hay raised
IN The UEitcd States is estimated al Is ,0O1-
OoJ tons. which, al So per ton. The aver
age home value. is worth $40, COO, 900.