The northern galaxy. [volume] (Middlebury, Vt.) 1844-1848, 1847-12-14

one cents. The last fiscal year during which
this amount was received embraced i've months
under the operation of the tariff act OF l842,
and seven months during which the tariff act
of 1916 was in force. During the five months
under the act of 1912, the amount received
from customs was seven million eight hundred
and forty-two thousand three hundred and six
dollars and ninety cents, and during the seven
months under the act of 1916 the amount re-
ceived was fifteen million nine hundred and
five thousand five hundred and ffty-seven dol
lars and seventy-six cents.
| The nett revenue from customs during the
year ending on the first of December, 1S46,
bringing the last year under the operation of
the tariff act of 1912, was twenty-five million 8
hundred and seventy-one thousand four hum
dred and three dollars and ten cents; and the
nett revenue from customs during the year end
ing on the first of Dec, 1S47, bringing the
first year under the operation of the tariff act
of 1916, was about thirty-one million five hun
ldred thousand dollars; being an increase of
revenue for the first year under the tariff act
lof 1886 of more than eight million five hun
ldred thousand dollars over that Of the last year
under the tariff of 1912.
The expenditures during the fiscal year end
ing on the thirtieth of June last, were ffty-nine
million four hundred and forty-one thousand
one hundred and seventy-seven dollars and
sixty-five cents; of which three million five
hundred and twenty-five thousand and eighty
two dollars and thirty-seven cents was on ac-
count of payment of principal and interest Of
the public debt, including treasury notes re-
deemed and not funded. The expenditures,
exclusive of payment of public debt, were fifty
five million nine hundred and twenty-nine
thousand and ninety-fivc dollars and twenty
eight cents
1t is estimated that the receipts into the
treasury for the fiscal year ending on the thir-
tieth of June, 1913, including the balance in
the treasury on the first of July last, will a.
mount TO forty-twO million eight hundred and
eighty-six thousand five hundred and forty-five
dollars and eighty cents of which thirty-one
million, it is estimated, will be derived from
customs; three million five hundred thousand
from the sale of the public lands four hundred
thousand from incidental sources, including
sales made by the Solicitor of the Treasury
and six million two hundred and eighty-liye
thousand two hundred and ninety-four dollars
and fifty-fve cents from loans already author
lied by law, which, together with the balance
in the treasury on the first of July last, make
the sum estimated.
The expenditures for the same period, if
peace with Mexico shall not be concluded; and
the army shall be increased as is proposed,
will amount, including the necessary payments
on account Of principal and interest of the pub
lie debt and treasury notes. TO fifty-cight mill
ion six hundred and fifteen thousand six hun
drcd and sixty dollars and seven cents.
| On the first Of the present month, the a.
mount of the public dcLt actually incurred;
including treasury notes, was forty-fve million
six hundred and fifty-nine thousand six hun
,lrcd and fifty-ninc dollars and forty CENTS
The public debts due on the fourth of March,
| 1915, including treasury notes, was seventeen
million seven hundred and lightweight thou
sand seven hundred and ninety-nine dollars
and sixty-two cents; and consequently the adj
dition made to the public debt since that time
IS twcnty-seven million eight hundred and
seventy thousand eight hundred and fifty-nine
dollars and seventy-eight cents.
Of the loan of twcnty-thrce millions, author
lied by the act of the twenty-eighty of Janua-
~. 1917, the sum of five millions was paid out
10 the public creditors, or exchanged at par
for specie the remaining eighteen millions
were offered for specie to the highest bidder
not below par by an advertisement issued by
the Secretary of the Treasury, and published
from tue 9th of February until the 10th of
| April, 1917, when was awarded to the several
| highest bidders, premiums VARYING from one
eighth of one per cent to two per cent above
par. The premium has been paid into the
treasury, and the sums awarded deposited in
specie i'll the treasury as fast as it was required
by the wants of the government.
| To meet the expenditures for the remainder
Of the present and the next fiscal year. ending
on the thirticth of June, 1S49, further loan,
in aid OF the ordinary revenues of the govern
ment, Will be necessary. Retaining sufficient
surplus in the treasury, the loan required for
the remainder of the present fiscal veal, will be
about eighteen millions five hundred thousand
dollars. If the duty on tea and coffee be i'm.
posed, and the graduation Of the price of the
public lands shall be made at an early period
Of the session as recommended, the loan for the
present fiscal year may he reduced to seven
teen millions of dollars. The loan NAV be fur
thcr reduced by whatever amount of expendi
lures can be saved by military contribution:
collected in Mexico. The most vigorous meas
urcS for the augmentation of these contribu
tons have been directed, and a very consider.
able sum is expected from that source Its a.
mount cannot however be calculated with any
any certainty. 1t is recommended that the
loan to be made he authorized upon the same
vas authorized under the provisions of the act
of the twenty-eighth of january, 1S47.
Should the war with Mexico be continued
until the thirtieth of June, 1919, it is estimat-
ed that further loan of twenty millions five
lhUndred thousand dollars will be required for
the fiscal year ending on that day, in case no
duty be imposed on tea and coffee, and the
public lands be not reduced and graduated in
price. and no military contributions shall be
collected in Mexico. If the duty on tea and
coffee be imposed and the lands be reduced
and graduated in price as proposed, the loan
may be reduced to seventeen million of dollars,
and will be subject to be still further reduced
by the amount of the military contributions
which may be collected in Mexico. 1t is not
proposed, however, at present, to ask Congress
for authority to negotiate this loan for the next
fiscal year, and it is hoped that the loan asked
for the remainder of the fiscal year, aided by
military contributions which may be collected
in Mexico, may be sufficient. If, contrary to
nv expectation there should no n recocsitv for