Portage sentinel. [volume] (Ravenna, Ohio) 1845-1854, 1848-12-13


,y.six thousand seven hundred and fifty
dollars and fifty nine cents. Of which there
was derived from customs, thirty.one mill
ion seven hundred and fifty y-seven thousand
and seventy dollars and ninety.six cents;
from sales Of public lands, three million
three hundred and twenty.eight thousand
six hundred and forty-two dollars and fifty
six cents; and from miscellaneous inclden-
lal sources, three hundred and ffty-one
thousand and thirty seven dollars and seven
cents.
It will be perceived that the revenue
| from customs for the last fiscal year ex-
ceeded by seven hundred fifty y.seven thou
sand and seventy dollars and ninety-six
| cents. the estimate of the Secretary OF the
| Treasury in his last annual report; and
that the aggregate receipts during the same
period from customs, lands, and miscellane-
Gus sources, a!so exceeded the estimate by
the sum of five hundred and thirty six thou
sand seven hunred and fifty dollars and
ffy.nine cents,-indicating however,
very near approach in tie estimate TO the
| actual result.
The expenditures during the fiscal year
ending on the 30lh of June last, including
those for the war, and exclusive of pay.
ments of principal and interest for the pub.
lie debt, were forty millions eight hundred
and seven thousand nine hundred and sew
enty dollars and three cents.
1t is estimated that the receipts into the
Treasury for the fiscal year ending on the
3Oth of June l649, including the balance
in the Treasury on the 1st of July last, will
amount to the sum Of fifty seven millions
| forty eight thousand nine hundred and sixty
nine dollars and ninety cents; of which
thirty-two millions of dollars it is estima-
ted will be derived from customs; three
millions of dollars from the sale Of Public
Lands; and one million two hundred thou.
sand dollars from miscell :neous and Incl.
dental sources, including the premium up.
on the loan, and the amount paid and to be
paid into the Treasury on account Of mill
tary contributions in Mexico, and the sales
of arms and vessels and other public prop.
erty rendered unnecessary for the use of
the government Dy the termination Of the
war; and twenty millions six hundred and
ninety five thousand four hundred and thirty
five dollars and thirty cents from loans al
ready negotiated including Treasury notes
funded, which together with the balance in
the Treasury ON the lst Of July last, make
the sum estimated.
Tho expenditures for the same period,
including the necessary payment on nc.
count of the priDci pal and interest Of the
Public debt, and the principal and interest
of the first instalment due to Mexico on
the 3Olh Of May next, and other expendi-
lures growing out of the war, to be paid
during the present year, will amount--in in
GLIDING the reimbursement OF Treasury
Notes, to the sum Of fifty four millions one
hundred and ninety five thousand two hun.
drsd and seventy five dollars and six cents;
leaving an estimated balance in the Treas
ury on the lst of July, ls49, of two mill.
ions eight hundred and fifty three thousand
six hundred and ninety four dollars and
eighty four cents.
The Secretary Of the Treasury will pre-
sent, az required by law, the estimate ofthe
receipts and expenditures for the next fs-
cal year. The expenditures as estimated
for that year are thirty three millions, two
hundred and thirteen thousand one hundred
and fifty two dollars and seventy three
cents, including three millions seven hum
dred and ninety nine thousand one hundred
and two dollars and eighteen cents for the
interest on the Public Debt, and three mill
ions FIVE hundred and forty thousand DOL
lars for the principal md interest due Mex
leo on the 3Oth Of May, 1880; leaving the
sum Of twenty five millions eight hundred
and seventy four thousand and fifty dol.
lars and thirty five cents; which it is be-
lieved will be ample for the ordinary peace
expenditures.
The operations Of the Tariff act Of 1916
have been during the past year such as full
ly to meet the public expectation, and to
confirm the opinion heretofore expressed
Of the wisdom Of the change in our reve-
nue. system VIII ch was expected by U.s.
The recei pts under it into the Treasury
for the first fiscal year after lis enactment
exceeded by the sum Of five millions forty
four thousand four hundred and three dol
lars and nine cents, the amount collected
during the last fiscal year under the Tariff
act Of 1912. ending the 18th Of June. 1916
mencement Of its operation on the lst of
December, 1916, until .he close Of the last
quarter, on the 30th of September las,
being twenty-five months, was fify-six
millions six hundred and fifty-four thousand
five hundred and sixry.three dollars and
seventy-nne cents. being much larger
sum than was ever before received from
duties during anv equal period. Under
the repeal of highly protective and prohib-
itory duties the revenue has been increased
and the taxes on the people have been d.
minished They have been relieved from
tie heavy amounts with which they were
burdened under former laws in the form of
increased prices or bounties paid to favored
classes and pursuits.
The predictions which were mnde. that
the Tariff act Of 1916 would reduce the
amount of revenue below that collected un-
der the act Of 1912. ard would PROSTATE
the business and destroy the prosperity Of
the country. have not been verified. With
an increased and increasing revenue. the
finances are in highly ffourishing condi-
ton. Agriculture. Commerce, Naviga-
ton, nre prosperous; the prices of manu-
facured fabrics. and Of other products. are