Wilmington journal. [volume] (Wilmington, N.C.) 1844-1895, 1847-12-10
dred and filty-eight dollars Of foreign artI

same period amounted to twenty-slX iiii iio
three hundred and forty-six thousanu eoH Gil
hundred and ninety dollars and tnlrty
cents. of which there was derived from GUS
toms twantv-three million seven hundred
and f,rtv-seven thousand eight hundred
and swift our dollars and siXty-slx cents
| from sales of public lands, two million
fonr hundred and ninety-eight thousand
three hundred and thirty-fivc dollars and
twenty cents; and from incidental and mis-
ceIlaneous sources, one hundred thousand
five hundred and seventy dollars and fifty.
one cents. The last fiscal year during
which this amount was received embraced
five months under the operation of the Ia
riff act of 1912, and seven months during
which the tariff of 1916 was in force. Dur
ing the five months under the act OF 1917
the amount received from customs was Sc
ven million eight hundred and torty-tWG
thousand three hundred and six dollars ana
ninety cents, and during the seven months
under the act of 1916, the amount received
was fifteen million nine hundred and tive
thousand five hundred and fifty seven dol
lars and seventy-six cents.
The nett revenue from customs during the
wear ending on the first of December, 1916
being the last year under the operation o
the tariff act of 1912. was twenty-five mil
lion nine hundred and seventy -onc Thousand
four hundred and three dollars and ter
cents; and the nett revenue from custom:
during the wear ending on the first of De
cember. 1917 being the first year under the
operation of the tariff act of 1916. was abou
thirty-one million five hundred Thousand
dollars; beng an increase Of revenue To-
the first year under the tariff act of 1916, o
more than eight million five hundred thou
sand dollars over that of the last year un
der the tariff of 1912.
The expenditures during the fiscal yea
ending on the thirtieth Of June last, wer'
fifty million four hundred and fifty-on,
thousand one hundred and seventy-sevel
dollars and sixty-fve cents: of which three
million five hundred and twenty-five thou
sand and eighty-two dollars and thirty-Sc
ven cents was on account of payment 0
principal and interest of the pablo debt
including treasury notes redeemed and no
funded. The expenditures, exclusive O
payment of public debt, were fifty-tive mil
lion nine hundred and Twenty-Five thou
sand and ninety-fivc dollars and twenty
eight cents.
1t is estimated that the receipts into tn
treasury for the fiscal year ending on TIL
thirticth of June, 1915 including the bal
ance in the treasury on the first of July last
will amount to torty-twO million eight hun
drcd and eighty-six thousand five hundre
and torty-fivc dollars and eighty cents. 9
which thirty-one million. it is estimated, viii
be derived from customs; three million fv
hundred thousand from the sale of the pub
lie lands four hundred thousand from in
cidentaI sources, including sales made b,
the Solicitor of the Treasury; and six mil
lion two hundred and cighty-fve thousan'
two hundred and ninety-four dollars an
fifty-tive cents from loans already authoriz
cd by law, which, together with the balanc
in the treasury on the first of July last
make the sum estimated.
The expenditures for the same period,
peace with Mexico shall not be concluded
and the army shall be increased as is pro
posed. will amount including the necessar
payments on account of principal and inte
rest Of the public debt and treasury notes
to fifty-eight million SIX hundred and fifteel
thousand six hundred and sixty dollars ant
seven cents,
On the first Of the present month. TIL
amount of the public debt actually incurr
ed. including treasury notes, was torty-tiv'
million six hundred and ftty-nine thousan.
six hundred and fitty-ninc dollars and fort,
cents. The public debt due on the fourtl
of March, 1915 including treasury notes
was seventeen million seven hundred AM
eighty-eight thousand seven hundred an
nincty-nine dollars and siXty-two cents
and consequently the addition made to tn
public debt since that time is tWenty-sevel
million eight hundred and seventy thou
sand eight hundred and titty-ninc dollar
and sevcnty-eight cents.
OF the loan of twcnty-thrce millions, au
thorzed by the act of the twenty-eighth c
January, 1917. the sum of five millions Wa
paid out to the public creditors or exchang
ed at par for specie; the remaining eigh
teen millions was offered for specie to tn
highest bidder not below par, by an adver
tiscmcnt issued by the Secretary of tn
Treasury, and published from the ninth c
February until the tenth of April, lS47
when it was awarded to the several high
est bidders at premiums varying from one
eighth of one per cent. to two per cent
above par The premium has been pal
into the treasury, and the sums award :
deposited in specie in the treasury as tas
as it was required BY the wants Of the &C
vcrnmcnt.
To meet the expenditures for the remain
der of the present and for the next tiSca
wear. ending on the thirtieth of June, 1915
q further loan, in aid of the ordinary rev
enues of the government, will be necessa
ry. Retaining sufficient surplus in tn
treasury, the loan required for the remain
der of the present fiscal year will be abou
eighteen million five hundred thousand do
lars. If the duty on tea and coffee be in
posed, and the graduation of the price
the public lands shall be made at an earl
period Of your session. as recommended
the loan for the present fiscal year may b
reduced to seventeen millions Of dollars
The loan may be further reduced by whar
ever amount Of expenditures can be save
by military contributions collected in Mex
co. The most vigorous measures for tn
augmentation of these contributions hav
been directed. and very considerable SUI
is expected from that source. Its amour
: cannot, however, be calculated with an
certainty. 1t is recommended that the loa
to be made be authorized upon the sam
terms, and for the same time. rs that whic
: was authorized under the provisions of tn
act of the twenty eighth of January. 1884,
Should the war with Mexico be contI
ued until the thrtcth of June. 1910, it
estimated that further loan of twenty mi
; lion five hundred thousand dollars will b
i, required for the fiscal year ending on tina
+ day, in case no duty be imposed on tea an
coffee, and the public lands be not reduce
and graduated in price, and no miltar
contributions shall be collected in Mexico
If the duty on tea and coffee be imposed
and the lands be reduced and graduated