Wheeling times and advertiser. [volume] (Wheeling, Va. [W. Va.]) 1839-1849, 1848-12-07

'ei "'e applVa 70 ga iif -s'itlale, 10 ne &C
iGaI Jesuit.
The ezpeuiiufes during tie year ending
oH 'ne :" ''h iJan last. including thos iur
ihe waf, aa' rVt iustte Of piyfn-nts 81 priuei-
pal ond iHi"ftst ior tie public dsbtNer ST..
Sj g70e3
Il Is estimated that the r~csipfs into The
Tfslsug Tor The fiscal ycsr ending on the 39th
oi June. 1919 iIciuling the balance in The
Tfe8slry GA the lst ni july last. ~ ill amount
10 ihr snm OF Sj7 0iS ,96g %. Of which S32.-
100000 it u estimated, Nill b. derived lrpn
Customs; s3C0)0q0 ff,m the sales Of the
Pubiic Lands and 81 200 000iron miscrl lane
ous aud iaCIdeutal sources. ucluding ilIe PIE.
mium unon ihe loan aud thc amount paid in.
10 be Treasury on sccouni pf military con
tnhuii9ns iH MNico, and the sales OF arms
and Vessels, aud other public properly render
el unnecessary iur ihe use oil the government
by The termination OF the war, All $40 $50
435. 30 from loans already negotiated inciH-
lng Treasury. notes funded. which together
with The balance in the Treasury on the first
Of July last, make The sum estimated.
The expenditures Tor the SINE period il-
cluting the necessary payment on account OF
the principal aud interest OF the pub ic debt.
anil the puacipsl andioieresi ot The inst install
nrni due to Mexico on the 30lh OF May next
and other expenditures growing out Of the
war, to be paid during the present year. viii
amount. ilcuing the rel amusement OF Vfea-
sury Notes, to the sum Of sol, % 30 05, lsar-
ing an estimated balance in she Treasury on
I the lst OF July, 1919, OF 50 SOB ,694 81.
( The Secretary OF the Treasury viii present,
as required by law. the estimates OF the re-
ceipls aud expenditures for the next fiscal
year The expenditures, as estimated Tor that
] : 4 .it,.l :
I l02 is tor the interest on the public debit
and - $40 900 Tor the principal and interest
dur 10 Mexico Oh the 30th ol MAY, 1880, leav-
/ ing the sum OF S25 S74,o59 50; which i is
/ believed, will be ample tor The ordinary peace
! expenditures.
| fne Operations Of the Thrift Act OF 1916
lave been such, during the pasl year, as fully
TO meet the public expectation, aud to confirm
Tie opinion heretofore expressed of the wis
/ ion oi The change m our revenue system.
which WAS affected BY it. The receipts under
il into The Treasury Tor the first fiscal year al
| lei its enactment, exceeded lbs the sum oil So.
| OH ,405 W, the amount collected dnlug he
last fiscal year, under the Tariff Act Of 1872.
ending Ga the 30th Of June, 1916 The total
revenue realized from the commencement of
its operation. on the first OF December, Il is.
unhl the close OF the last quarteron the 3)lh
OF September last, being twenty-five months.
was sj6 6ji, jb3 19-btug Wueh larger
sum tmu WAS ever before received from do
ties during any equal period under the repeal
81 highly protective and prorbiiary duties,
the revenue has been increased, the taxes on
the people have been diminished. They have
been relieved from the heavy amounts with
which they were burdened. under former
laws, IN the form OF increased prices or boun-
: I ~, t,,s .l,,t.s
The predictions which wert made, that the
Tariff Act OF 1916 would reduce the amount
OF revenue below that collected under the Act
Of 542, and would PROSTATE the business and
destroy the prosperity OF the country, have
not been verified. With increased and in
creastng revenue The finances are IN a highly
lilourshlng condition, agriculture, commerce,
and navigation, ore prosperous; the prices Of
manufactured fabrics, and Of her products.
are much less Inlnriously oil .cted than was
to have been anticipated, from unprecedented
fevulslons, which during the last aud the pre-
sent year, ovrrwhel,nr the industry and
pardlysed the credit and com nerce OF 50 ma
ny great and enlightened nations OF Europe.
Several commercial reyulsuns abroad have
always heretofore operated 10 depress and
often 10 affect disasrously almost every branch
Of American iuduiry. A temporary depres-
sion oil portion oil our manufacturing inter-
est is toe eifectol foreign csuses, and is tar
less severe than has prevailed IN al. former
suniar OCCASIONS,
1t is believed that, looking 10 the great
| aggregate of all our interests, The whole
country was never more prosperous than
al the present period, and never more ra-
! pidly advancing in wealth and population.
. II /, T.
been involved, nor fie loans which have
absorbed SO large a portion Of our capital,
| nor the commercial reyulson in c.. Brit
ain in 1916, nor the paralysis Of credi,
aud commerce throughout Europe in 1913
have affected injurionsly, to any conside-
lrabie extent. any of the great interests of
the country, or arrested our onward march
to greatness, wealth and power
Had the disturbances in Europe not
occurred, our commerce would undoubt
eddy have been still more extended and it
would have added still more 10 the nalio.
nal wealth and public prosperity. But
| notwithstanding these disturbances, the o.
peratlons of the revenue system, establish
ed by the tariff act OF 1916 have been So
generally beneficial 10 government and the
business OF the country, that no change in
It's provisions is demanded by wise pub
he policy and none is recommended.
The operations of the constitution, Il
treasury established by the act Of August
9th, 1916, IN the receipt, custody and dis
bursemenls OF the public money, have
continued TO be successful. Under this
system the public finances have been ear
RED through foreign war. involving the
necessity OF loans and extraordinary ey-
ponditures, aud requiring distant Transfers,
and disbursements, without embarrass-
ment, aud no loss has occurred of anv ot
N puolIc money under lis PROVISIONS
W hist IT has proved to be safe and usstnl
10 The government, lis effects have heeu
most beneficial upon the business of The
country. II hassened powerfully TO Sc
cure an exemption from thal imitation and
bncluailon OF the currency, so injurious to
domestic industry and rendering so uncer
tam the rewards oflabor, and il belioy.
ed has largely contributed to preserve the
whole country from serious commercial
reyulslon, such as often occurred under
, ,n oahN deposlie system, In the year
1917, there was revulsion in the 6usi-
ness OF Great Britain Of great extent and
intensity, which was followed by failures
III tlaI kingdom unprecedented in number
and amount of losses. This is belieyed IN
be the first instance where such disastrous
bankruptcies, occurring ina country where
we nave such extensive trade or curreu.
ey we remained but litde affected in our
money market, and our business and in.