Weekly miners' express. (DuBuque, Iowa) 184?-1849, 1848-12-19

paid during the preaen, year, will amount
(including the reimbursement Of the treas
ury notes. to the sum Of $54, 1s5,275 sc,
leaving an estimated balance in the treas.
ory on the first Of July, 1910, of$285, 1894,
"a. ..s ... = Is.
The Secretary Of the Treasury will
present, as soon as required by law, the
estimates Of the receipts and expenditures
for the next fiscal year. The expendi-
lures, as estimated for that year, amount
to $33,799,lO2 10, for the interest on the
public debt, and 1913 $780, $40 for the prin
cipal and interest due 10 Mexico on the
3lst May, 1850; leaving the sum Of $685.
274 $50 35, which it is believed, will be
ample for the ordinary peace expenditure.
The operations Of the Tariff act Of IS.
As have been such during the past year,
as fully TO meet the public expenditures,
and to confirm the opinion heretofore ex-
pressed on the wisdom Of the change in
our revenue system, which was effected
by that act. The receipts under it into
the Treasury for the first fiscal year af-
ter its enactment, exceeded by the sum Of
1904, 4O3 the amount collected during
the last fiscal year, under the Tariff act
of l842, ending 30th June, 1916. The
total revenue realized from the COM
mencement Of the operation, on the LIST of
December, 1916, until the close Of the last
quarter, on the 30th Of September last,
being twenty-five months, was $56,654,-
463 rs, being much larger sum than
was ever before received from duties dur
ing any equal period, under the action Of
highly protective and prohibi,ive duties
The revenue has been increased; the tax
es on the people have been diminished
They have been relieved from the heavy
amounts with which they we're burdened
under former laws, in the form Of in
creased prices or bounties paid to former
classes and pursuits. .
The predictions which were made that
the Tariff act Of 1916, would reduce the
amount of revenue below that collected
under the Tariff act Of 1912, and wholly
PROSTATE the industry and business, and
destroy the prosperity Of the country,
have not been verified. With an increas-
ed and increasing revenue, the finances
are in highly hourishing condition.
Agriculture, commerce and navigation
are prosperous, and the prices of manu-
featured fabrics, and Of other products,
ere much less injuriously affected than
was to have been antici pated, from the
unprecedented revulsion which, during
the last and present year, have over:
whelmed the industry and paralyzed the
credit and commerce of so many enlight-
ened nations Of Europe.
Severe commercial revulsions abroad
have always heretofore operated to de-
press, and often to affect disastriously,
almost every branch Of America indus
try. The temporary depression Of a
portion of our manufacturing interest, is
the effect Of foreign causes, and is far
less severe than has prevailed on all for
mer similar occasions. 1t is believed.
that, looking to the great aggregate of all
our interests, the whole country was new
er more prosperous than at the present
period, and never more advanced in
wealth and population Neither the for
elgn war IN which we have been involv-
ed, nor the loans which have been bro't
over so large portion Of our capital, nor
the CONNIE rcl7l revulsion in Great Brit
ain in l847, nor the paralysis of credit
and commerce throughout Europe in 49,
48, have affected injuriously, to any con-
siderable extent, any Of the great inter-
ests OF the country, or arrested our on
ward march to greatness, wealth and
power.
Had the disturbances in Europe not &C.
Cured, our commerce would undoubted-
ly have been still more extended, and
would have added still more to the nation
al wealth and public prosperity. But,
notwithstanding these disturbances, the
operations of the revenue system, as es
tablishcl by the tariff Of 1916, has been
generally beneficial to the Government
and business of the country, and no change
10 Its provisions is demanded by the pub
lie policy, and none is recommended. The
operations of the Constitutional Treasury
established by the act Of 9th August l 846
IN the receipt, custody and disbursement
OF the public money, have continued to be
successful. Under this system, the pub
nc finances have carried through the for
eign war, involving the necessity. Of loans
and extraordinary expenditures, and re-
curing different transfer; and dsburse-
'nents, without embarrassment, and no
loss has occurred Of any Of the public
money deposited under its provisions
Whilst it has proved to be safe and use
lul to the Government, its effects have
been most beneficial in the country. |,
has fastened powerfully to secure an ex-
emption from the imitation and fluctuatinp
Of the paper currency, so injurious to do
mestlc industry, and indeed so uncertain
in the rewards Of labor, and is believed
to have largely contributed to preserve
the whole country. from a CONNIE rcial
CONFUSION, such as often occurs under
the bank deposit system. In the year
l847, there was a revulsion in the bust
ness Of Great Britain, Of great extent and