Wilmington journal. [volume] (Wilmington, N.C.) 1844-1895, 1848-12-08

them for their services, and to refund to them the
necessary expenses which they have incurred.
/ repeat the Recommendation heretofore made to
Congress, that provision be made for the appoint
ment of a suitable number of Indian agents to re-
side among the tribes of Oregon, and that small
sum be appropriated TO enable these agents to cul
tivate friendly relations with them. If this be |
done the presence of small military force will be |
all that is necessary to keep them in check, and
preserve peace.
recommend that similar provisions be made as |
regards the tribes inhabting northern Texas,
New Mexico, California, and the extensive region
lying between our settlements in Missouri and
these possessions, as the most effective means of
preserving peace upon our borders, and within the
recently acquired territories.
The Secretary ofthe Treasury will prensent in
his annual report highly satisfactory statement
of the condition of the finances.
The imports for the fiscal year ending on the
thirtieth of June last were of the value of $l54-
977, 076; of which the amount exported was $2l,-
$4,000 TO- leaving $l33, S49, 1865 in the country
for domestic use.
was S154032, l3l, consisting of domestic produc-
tons amounting to $132 904 12l, and S2l ,OOO, l2s
0l0 90 of foreign articles
The receipts into the treasury for the same peri
3D. exclusive of loans amounted to S35, 436, $50 SO;
of which there was derived from customs $3l 1871,
O7O Sc; from sales of public lands, 50 1923 SAP Sc
and from miscellaneous and incidental sources;
3 }51 037 OF. /,
1t will be perceived that the revenue from Gus
toms for the last fiscal year exceeded by 1851 UIU
90 the estimate of the Secretary of the Treasury in
his last annual report and that the aggregate re-
ceipts during the period from CUSTOMS lands,
and miscellaneous sources also exceeded the estl-
mate by the sum of 1886 $50 59-indicating, how
ever, very near approach in the estimate to the
actual result
The expenditures during the fiscal year ending
on the Both June last including those for the war,
| and exclusive of payments of principal and inter-
est for the public debt, were $L2,8 $40 o..
1t is estimated that the receipts into the treasury
for the fiscal year ending on the Both of June l049
including the balance in the treasury on the LIST OF
July last will amount to the of $57 049 500 80;
of which $32 000 000 it is estimated will be deri
we'd from customs 100000 from the sales of
the public lands and 81, 100000 from miscellane-
Gus and incidental sources, including the Premi-
um upon the loan, and the amount paid and to be
paid into the treasury account of military con-
| tributions in Mexico, and the sales of arms and
vessels and other public property rendered unne
cessary for the use of the government by the ter
mnaton of the war; and SIC, 695.435 80 from loans
already negotiated, including treasury notes fund
ed. which, together with the balance in the treas
ury on the lst of July last, make the sum estima-
| ted
/ The expenditures for the same period, including
the necessary payment on account of the principal
and interest of the public debt, and the principal
and interest of the first nstalment due to Mexico
on the thirteenth of May next, and other eXpend-
lures growing out of the war, to be paid during
| the present year, will amount, including the re-
endorsement OF treasury notes, to the sum OF
$54, 1861 75 06; leaving an estimated balance in
the treasury the first of July, l849, of 1888,
694 81.
The Secretary of the Treasury will present. as
required by law, the estimate of the receipts and
expenditures for the next fiscal year. The eXpen-
ditures estimated for that year 33 ,2l3 l52,
49, including 50 799 OH l8 for the interest the
public debt, and three million five hundred ant
forty thousand dollars for the principal and in
terest due to Mexico the thirtieth of May, 1850
leaving the Of $685. 874, $50 IS, which, it is be
} lieved will be ample for the ordinary peace ex
penditures.
The operations of the tarffa act ofl946 have beer
such during the past year fully to meet the pub
lie expectation, and to confirm the opinion hereto
fore expressed of the wisdom of the change in
our revenue system which was effected by ii. TIL,
receipts under it into the treasury for the first ifs
cal year after its enactment exceeded by the sun
ofS5 044 403 % the amount collected during las
fiscal year under the tariff act of 1912, ending tn
Both of June, 1876. The total revenue realized
from the commencement ofits operations on tn
first of December 1916 until the close of the las
| quarter. on the 30h of September last, being z:
f months was $50 654 563 79-being a much large
sum than was ever before received from duties du
ring any equal period under the tariff acts of 1924
} 1925 1882 and 1912. Willis blythe repeal ofhie hi
protective prohibitory duties the has beer
increased, the taxes the people have been dimin
amounts with which they were burdened undo
former laws in the form of increased prices o.
e bunties paid to favored classes and pursuits.
The predictions which were made, that the tar
1 if act of 1916 would reduce the amount of reve
nue. below that collected under the act of 1912
and would PROSTATE the business and destroy tn
prosperity Of the country have not been verified
With an increased and increasing revenue, the Fl
: nances are in highly f1ourishing condition Ae
o ricuture commerce, and navigation, are prosper
- he nriop nf MAJ apfIr rod fohr nd r
! other products much less injuriously affecte
s than to have been anticipated, Fl the UMPIRE
h cedented revulsiols, which, during the last an
It present year have overwhelmed the industry AM
IS paralyzed the credit and commerce of so man
: great and enlightened nations of Europe.
e Severe commercial revulsiOns abroad have al
e ways heretofore operated to depress and often
e affect disastrously, almost eye~y branch of Amer
e can industry. The temper -ry depression of POI
e ton of our manufacturing interests in the effet
1t of foreign causes and is far less than ha
prevailed on all former similar occasions.
: 1t is believed that, looking to the great aggr
It gate of all interests, the whole country va
r never prosperous than at the present perio
al and never more rapidly advancing in wealth ar
TT population. Neither the foreign war in which "
I'd have been involved, nor the loans which have a
e sorbed so large portion of our capital, nor II
N commercial revulsion in Great Britain in IS4
ar the paralysis of credit and commerce throug
u, out Europe in l04S have affected inIurOusly
al any considerable extent any of the great interes
he Of the country, arrested our onward march
Mt greatness, wealth. and power.
o. Had the disturbances in Europe not occurre
our commerce would undoubtedly have been ST
~ more extended and would have added still mo
r. to the national wealth and public prosperity. B
H. notwithstanding these disturbances the operatio
ce of the revenue system established by the tariff
u of 1916 have been so generally beneficial to I
n government and the business of the country tt
to no change in its provisions is demanded by wi
to public policy. and none is recommended.
to The operations of the constitutional treasu
S. established by the act ofthe sixth of August, 81
to in the receipt, custody, and disbursement of t
ct public money, have continued to be successful.
s Under this system the public finances ha
+ been carried through foreign war, involviI
D, the necessity Of loans and extraordinary e
d. penditnres, and requiring distant transfers al
lie disbursements, without embarrassment, al
a. no loss has occurred of any of the public m
~ ney deposited under its provisions. Will
it has proved to be safe and useful to the GO
IL eminent, its effects have been most be
of efclal upon the business of the country.
n has tended powerfully to secure an exempti
II n from that imitation and fuctuation ofthe pap
a. currency, SO injurious to domestic industr
d. and rendering so uncertain the rewards of
Dor, and it is believed has largely contribut