Herald of the times, and Rhode Islander. [volume] (Newport, R.I.) 1846-1849, 1847-01-07
Total increase 8

greatly over ESTIMATES thc 'eSS'p'S wv"
from rvs,oms and from lands.
These would be large estimates, even
i'm time Of pence, when the pursuits oi
men are uninterrupted, and the large
suns that are wanted Tor war expendi-
iurrs remain nj home to invigorate The
commerce Of the county.
There is nothing in present appearan-
ces TO Justify expectations OF so large an
import, for the residue of This year, as
that upon which the Secretary has ioun-
d. d h,s estimate. The rate Of exchange
upon Europe is bc"w the specie point,
aud III coarse specie is coming into the
country. The import OF dutiaJle me'-
rhnndi.e il, Of course, to that degree,
falling of, and the revenue from customs
must decrease accordingly. ..
To obtain twenty eight mJiions OF nett
rvrnue will require about one hundred
aud ihuty-ihree millions of imports con-
sn,nrd. The amoupt OF imports consu'n-
ed during The last fiscal year was 5 lO,-
345, liza -an auoun, exceeding the aver
age "f several yenrs past. The value OF
domestic exports for The same year was
SiOl, ,I4i, ,893 being about an average
Of srvrrnl years Experience is abun-
dan, In s,ow that we cannot, IN ordinary
years, safely import Tor consumption
much over the value of i 100 900 900.
f,u,, when it IS considered that now
the Government must, according to lis
uwn showing, borrow, for the service Of
this aud the mex, fiscal year, twenty
three millions ot dollars more than It's
csiin,ntrd means !; that large portion
of tho ordinary revenue Is TO be driven
of IN specie for distant expenditures ,and
thai the commerce aud business OF the
country must be cralnped by this distur'
bance of It's monetary operations II Is
no more than rIght to expect that our I'M
ports will fall off very senslbly.
We predict therefore, that the revenue
of the present fiscal year lending on the
10th of June next) FROM customs Will not
exceed S24 900, 900, nor from lands S2,-
500, ,OOO-in all S26 500 900 (; and, for
the next fiscal year, (ending June 80,
l3t3,) should the war continue, aud The
Subireasury continue also, that the re-
crip.s Of the Government from all sources
of revenue will not exceed twenty-five
millions Of dollars, instead Of The thirty
,wo millions Of dollars estimated at the
Treasury Department.
Oi the expenditures Of the Government
IL Is impossible NJ speak with much pre-
xision but il n evident that they are
nnch undenated, both by the Message
aud The Treasury Report.
The appropriations made at the last
srrson Of Congress for the support OF
,he army proper aud volunteers for the
Mexican war, were, in round numbers,
about S22 900, 900 and the estimates
psw presented by the Department tn
Congress shows deficiency in this ap-
preparation of S4,700, 900; making the
tnal military expense Tor the present
i.cnl year sac, zoe, 900.
II is believed that there has moi been
nj nuy time within the year, thus far, a
Erce under pay amounting TO thirty
,honsand men. The volunteers now IN
lh- held number aboo, l6 800, the regu-
lar army say lO,50o {; total q 900.
Il is proposed now to raise the regu-
lar army Ia the number authorized bv
the act OF the LAST session, VIZ. IL 900
mru To have ten regiments enlisted Tor
the war, say 10000 men !; aud to pro-
vide n contingent volunteer force Of ten
regiments, say &c, 900 more \ making a
total force io be maintained for the next
year oi ibiiiy-srven thousand men. Yet
The Department computes that the whole
expenditure for this iorce will be only
ircniy- fur millions Of dollars whilst
npon the same scale OF expenditure as
this years force, II will amount to thirty
wren millions Of dollars.
The total expenditure Of the present
fiscal year is estimated at $50 ,2lI ,2l2
whilst The total expenditure Of the next
fiscal year is estimated In be but $40,
73I, I,784! a falling off OF ten millions oi
dollars, which we cannot understand how
the Treasury officers have made out, oI
can satisfactorily account for, even by
their own figuring
s., far from this estimate being cor
rect, IL the provinces conquered from
Mexico are To be fortified as recommends
cd, and posts are To- be established on the
route to Oregon aud California, and the
various other modes of expendng money
recommended 10 the Message and De-
par,mcntnl Reports are adopted, the ac'
tunl expenditures oflhe fiscal year l847
48 will overrun those Of l346.47 as
much as The estimates now fall short o
them. Among these proposed addition
al expenditures it is likely that some vii
be authorized, besides the notifications
SC. such as an increase Of pay OF thu
army and volunteers, and bounties upoI
enlistments, sc.
We have 50 FAR been speaking on tb'
presumption, upon The Executive es''
mates, Of the wars continuing to tn
middle of the year i848 But some
the Administration journals predict
peace, and peace IL possible. We must
therefore consider what will be It's effect
should il come, upon the operations
the Treasury.
How much money may be wanted 70
the support Of Government for the hrs
year or Two Of peace cannot be know