Lynchburg Virginian. [volume] (Lynchburg [Va.]) 1829-185?, 1847-12-13


sA 10 shall moi he concluded aud the army s,ll be IL,
CREASED As proposed. viii amount neulinr the necs
~ laNmeh5s IN account ol principal and interest III Tia
Pahe debt and lfeas0i, notes. la hit, est million sN
,'n'Hf'd AMI icen Thousand hundred aud sl>f, dol
hf> ard seven eenis
Ia The ii 81 oi lr present month The an.n,t -, Ia
f9Rie dehl actually incurred. lnelmlns trrasuf, nult=
Mis- laftA I'VE mllllnn SIN hundred aud fly nlne tau> nd
sN hundred aal lls nlne dalars md lariy cents The
i""i' "'h dhe ~ The tulii nj March. Sl1. urludne
IL as4fA hfis VAS seventeen million sevea bundled anil
'tstiN eh titnsaad sewn hnndt.d and ninety niue
'oars and siAtt twn eru's and consequently the add
''' hlslf Ia hr pubic drl since thai time Is ncriy
Nttea nlh aeghi hundred and St vent, thousand ,lah
ooaf' and lily nne dollars and seventy eahi een.
u The loan ol tNeni, ihrte millions authorized II, tho
ae' al The t"eni, ekhh Of January ST the sum ii five
M, MIS- ad on 10 the public CREDITORS or esehan
s'o NJ par III spee: the remaining eighteen million.
"'s "liered ior specie 10 the highest bidder not below
IN ny an Ntiismtni ISSUED by the Secretary Il the
feasnfN, and published from thu ninth ii Frlruat, until
The enth ii Apu, 1877. when ii Was awarded IL the
several highest bidders. al premiums VARYING iIun unc
'@i o one ier cenl. 10 iMa pr cent alnse par. The
l''"lm has been pad Into the Treasury. and The
awarded deposited III specie In The asGry LIS as II
VAS required by The nants al the government.
|" meti the expenditures for The remainder Of the
present ard tr he neNt fiscal ,far edlrg IN lhe lhlf
lclla June. l. 10 tlriir oa In Il d ri tie ordinary
revenues ol the gnrslanrnt will be nert,saf.. Rrnn-
is snhffcl surplus IN thu treasury. the loan required
''' tue remainder III The II s' fiscal Nen VII he ahoni
eighteen mlllonigelmldiel lhlu,anl ,lotrs Il the u
~ IN e1 and collie BE- mp and the graduation II
de ltiee al The pubic lands shall be made Early
,i'a 81 Your session. as recommended The loan Tor 'he
,l dlia,. ~ .s, - IT. "',,'''''
ever anato Of ,xn,li,,'r,s H. .Y,i l., ,,3I,,at,
contributions c,Ilrei,l IN N4>is, III, n,.si yi,,,,,.
measures M The lugnenatl1nu these contributions lave
zen df'efd, aud sea, considerable, sun Is expected
lf9'n thai source liz amount cannot, however, he cal
fh'aed win any eeramiy II IS recommended that the
''n 20 pe '"a'e 'e a9'"Aed upon lie same terms and
IN 30 ,,'', " ''',. was 'I ''@' '''"''
lSi5.
sboud the war with Mexico IN, continued until III,
thifleh d june 1919 il Is estimated that a further
loan twenty million five hundred thousand dollars will
be required Tor die fiscal year ending that day, IN
,n "oy ne my "n lea and e"iIee, and HE pub
n,,as, ,,' ,,"e'' a' s'a'"a'' III Pe' anu NJ
the du on lea and r, h. n" anu ,ne H.
reduce, and graduated in prc, a, mr. p,sod III, loan
ma, be reduced seventeen mtlluus ot dollars and will
he saJcc 10 he sill lurle reduced b, the amount Of Tie
n'l'a'y contributions which may be collected III NM-
CO. u Is moi proposed, however at present 10 ash Gun
a''ss 'o aoh9y |" nesoiale lhs loan io The next lis
VA ,1' as u Is h'' 'a' '' loan ast'd '@' Nc lie
,rh,,'s t. , ~ '''' ~, ny ''''ay con
sufficient If. contrary Ia nv ,,na,a,,an ,n,e 81 , I'D
he a necessity for il. The acr will he communicated IN
Congress IN time ior Their action during the PRESENT
Sion IN no event will d sum exceeding naons OF
dollars OF this amount be M ded fmre the meeting Il
ne session o' congress III December, 1918.
he act OF the th'rteth OF July, 1916, "redn
eng the duties on imports, has been in force
since the FIRST Of December last; and am graft
he'd TO state, that all the beneficial effects which
were anticipated from IT'S operation have been
inily realized The public revenue derived from
Gust ms dnrlng the year ending on the first of
December 1917, exceeds by more than eight
millions OF dollars the amount received III the pre-
eedng year under the operation oithe act OF 1912
" men Was superseded and repealed by IT. Its
effects are visible IN the great and almost un-
eXamped prosperity which prevails III every
branch OF business
NhIle the repeal OF prohibltory and restrictive
duties OF the act OF 1912 and the substitution in
ihelfplace OF reasonable revenue rates levied on
articles imported according TO thelraetual value,
has increased the revenue and augn ented our for
Ign liade' all the great interests OF The country
nave been advanced and promoted.
lie great and important interests OF agricul-
ule, winch had been not only too much neglect
'd, but actually taxed under the protective poll-
y Tor the neneht OF therlnteieSts, have been r'-
IN Them ana our iailnerS and planters, under
a more Just and liberal commercial Follcv, are
lndlng new and profitable markets abroad Tor Their
products.
Our commerce Is rapidly increasing, and is cX-
ending more widely the circle of international
Exchanges. Great as has been the increase OF