The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1848-02-06

% 45 a00 The estimates OF the receipts and
neous to the amount OF nearly $40 OOo Is 1t not
therefore fair to presume that the estimates
now " thy % 10 q they We shall
asked for The debt will be $l03 $40 All srger than
the debt created by the war with Great Brittany the
report Of the Secretary Of the Treasury, 1t was
said that eighteen millions and q half will bs
required few weeks Afterwards we were Informed
sred II that true, what the inference? That
only loan Of $4,000 600 would be required Is that
oorrscti Scarcely had the reportbsen printed before
We were informed that the estimates were erroneous
aud va are now called upon to extend tho loan o.
$l6oOoooo Notwithstanding tho disc ,very, in favor OF
tho department, of $7000,000 MIR Smith ventured the
prediction that before the s~sson Closes will be tod
chat the amount Of the loan s not sufficient and .
lie debt will be So 900 600 Before the began
the receipts for the public lands between two and
three miiops Can gentlemen expect to pay $4,000 600
which will be the interest tho public debt from that
sourcsi The land bountiss will absorb sixteen millions
Of scres which be sold for twenty millions Of dol
year. to tass up II. military lana Warrants III. r.vs
from the lands, therefore, must cut OF almost
entirely Mr. Smith said II the to be continued
government to be supported money, borrowed I'D
hbtum; nor posterity TO be burdened With our debts
In the frat report made at the Of the
government under the administration of Washington,
It recommended that In making appropriations the
means by which they were to be met should be provided
Nuch had been said about what shall be done
10 meet the expenses, and what was done du
ring the last war When the duties on i'm.
ports were doubled. But during this war they
have been cut down The expenditures Of this war viii
greatly exceed those for the prosecution Of the war
with Great Britain In three years the for
thu latter including tho civil es,sblhment 500
s95 0S2 The expenditures for this will be Sl73 Ill 729;
showing exosss In three years. Of over $97 600
Does not every know, the war progresses that
the expenses will increase The expenses Of this year
will be than they were last year call has been
made for irty thousand additional and this in
wolves increased expense and have not made any
vancemsnt TO lessen the amount Of expenditures. MIR
smith proceeded TO show that tho duties under The
revenue law will not bs sufficient TO defray the
binary expenditures Of the and psy the six
millions OF interest on tho public debt beside We can
not expect to receive $40 900 900 from customs the
binary expenses will not be less than S35 100000 With
the So 100000 Of interest will require sal 900 to
meet our expenses. We are prosecuting the war on
credit and every day Treasury notes and stocks
sold In the New York money market ct less than par
He wished know the ohsct for which the war IL pro-
secuted the Is continued the greater will be tho
demand for indemnity the part OF the friends OF the
Administration senator (who spoken Of for the Pre-
sdescy said that MexIeo delays and perseverss In her
obstinacy, may reach that point which may justify
In taking the whole country. Mr. Smith had heard OF
progressive democracy IL does truly PROCESS at fearful
rstsi and not Arrested II win progress until our Con-