The examiner. [volume] (Louisville, Ky.) 1847-1849, 1848-12-09


of preseIVing peace upon our
f-,,gr ntasl :, tbe acquired territories.
.fs, and NIu, nf The Treasury will in his annual
Tle Seoren! bi,hly satisfactory statement OF
rePlh .5;,ion OF the inaecesi v.., ending ON the
The imports we're of the value OF Sl54,5n.-
shh Of Jahe ~ amount exported was 81 ,IZo,-
SIS q Sn sSs,s4s,S66 in the country '0' 10
'ass,ic use. ,he exports for the same period,
ne value o. %, consisting of domestic produc-
amounting 10 80 49, I.
unsold Of into the Treasury Tor me same Pc
me receiPN - loans. amounted TO 81, $780,
,;ol. exclusive - ,hsre was derived from customs
80 81; OF VIZ from the sales Of public lanes
sSj 30, 70 =: and from miscellaneous and Incl
sS,S-e',nrees 1851 ,OSl Va. ,,o lac,
den'a 30 oerceiyed that ne IeNsnue Iol VIC ias
VIZ, exceeded by ssi,O'o 10 ue Iau,
ises. yeal ~ of the Treasury, IN ms lasi an
Of he nSthat the aggregate receipts, during
pual TepoiT "a from customs, lands and insect
he sane PelIoo5 also exceeded the estimates by
ane0as sSssSs IN IS. indicating, however, avery
he sum oil ~ !, ,Ir estimates 10 the actual re-
neal sPPiO"
81 L ,a;,ures during the hscal year enoihe OH
The lime last, including those on The war
The SUI of payment OF primo Ipsi ana ihteies'
sna eIAserbiir debt were, S4Z'oi ooI IT,.
Of ihe Estimated that the receiPts INV le fl
r. ioI nc r. he balance in the Treasury on lae
1919, inc"I st, will amount 10 the sum OF 81,
Isl Of ylS - Which $50 000, QUO, II IS estimated,
l4s-soS - - gooY,, Customs, S3UUu,UUU fTom the
vii be G 80 lands. and 81 Do, gu from msee-
sales OF occidental sources, including the pre-
Ane9us ~ 30 loans, and the amount PAID, and 10
mi8ni ~ 40 he Treasury on account OF military
Dc from Mexico; and he safes OF arms,
cor ul.Sssls. and other public properly rendered
snd 'esss' 40 he Government by the termination
Hnnecessa' ~ ~ 695, ABS 30 from loans already
q ne va ineludlng the Treasury notes funded,
neeola.ee, with the balance IN the Treasury
which, - hIy last made the sum estimated.
90 ne -. i;,.,Ias fnr the same period. including
luz et payment on account oil The pfinci-
the hsS 1888 of the public debt, and the princi
Psi az a., interest of the first instrument due TO
pa pa On the Slth Of May next, and other ehpen-
VI groWing out of the war, 10 De pald curing
- present wear, wLll ailouh', M 'ne 'e
lhs F.,,sn, of the Treasury notes, TO The sum OF
nio . - ~ rs leaving an estimated balance IN
s4'rs,', an the lst of July, 1919, OF 1858,
$50 81. f,Lo Treasury will nresent- as
Ihe ees,1irad by law the estimates OF the re-
soon d -. a,,eDditures for the next fiscal year.
&c p .sa9i,nres. a. estimated for that year, are
~ 100 no Is for the interest on The PuDllc DEBT,
~ "a nlO $40 for the principal and interest due TO
an he Slst of May, 1851, leaving the sum
~ s15 s74. $50 IS, which, II is oeilefed, VIII De
OF ~. ~ ordinary peace expenditures.
A I .,-ations of The Tariff act Of 1876, have
~. srrb duTlng the past year as fully 10 meet
..sIic eKoectaiion, and TO confirm The opln'
W. .-le F.t,f,re expressed, on the wisdom OF the
i1l >, an, revenue system, which was effected
at. he receipts underit into the Treasury,
!! 10 g., fsral wear after It's enactment, eN-
~ Nv he sum Of IS, O44, 4OS % the amount
'o.ilac,s5 Suring the last fiscal year under the
T.,F act of 1912, ending the SOIa OF june 1916
ne foisl revenue realized iTom the commence
-, II he oneration, on the LIST Of December,
re o,t;I The close Of the last quarter, on the
a. ~ Sspismber asst, being TWENTY-FIVE months,
- az s.. 500 a. being much larger sum
- - ever before received from duties, during
- s,r,l neriod under the existence ofhighly pro-
~ -, az probiaitory duiies-the revenue has
-, ;,creased-the taxes on the people diminish
"a -,bsv have been relieved from the heavy
,aoruis with which they have been ourdened un-
isr s,fDer laws, in the tonn oil increased prices
: b,v-s.ss paia 10 favored classes and pursuits
Tbs ,ra5ietons which were made, that the Taritf |
~ III IS4s ,rou : reduce the amount of revenue
,siou tbai collected under the act Of 1872, |
81 nros,raie the industry and business, and |
lss,roV he DrospeTity OF the county, have not |
-, verified With increased and increasing |
svs,ns he finances are in a highly fiOurishing |
,onltion. Agriculture, commerce, and navi- |
-stioo. are prosperous; the prices OF manuiae-
red bries and Of other products are much less IN
uriousy effected than was 70 have been antcipa-
al. From the unprecedented reVlllsions which,
lining he last and present wear, have oVerwhelm-
4 the industry and commerce OF so many en-
ighiened nations Of EHOpe.
severe commercial Ieyulsi0ns abroad have al
r.ys heretofore operated TO depTess, and often 10
Gee, dlsasirouSly almost every branch o. Amerl-
an Industry. The temporary depression OF poT-
on Of 0gr manufacturing interests is the effect OF
oreign causes, and Is far less severe than has
,revsiled 90 all former similar occasions.
Is believed that, looking TO the aggregate of all
,W interests, the whole country was never more
rosperous than at the present period, and never
more advancing in wealth and population. Nei-
Eel the foreign war, in which we have beea involy-
{, nor he loans which have absorbed sc large
,ortisn Of our capital, nor the commercial reynL.
Uns in Gsssa btttaIn IN ISfT-nOr the paralysis OF
,redit and commerce throughout Europe in lS4S,
ave affected injuriously, 10 any considerable ex-
ent, any Of the great interests Of the country, or
Tesled our onward march to greatness, wealth
nd power.
Hsd the Disturbances in Europe not occurred,
ur commerce would undoubtedly have been still
aore extended, and would have added sill more
o the national wealth and public prosperity. But,
Notwithstanding these disturbances, the operation
I the revenue system established by the tariff Of
S45, has been generally beneficial 10 the Govern.
neni and business OF the country, but no change
q lis provisions is demanded by the public policy,
md none IS recommended.
Interpretations Of ihecOnstitutional treasury, es-
Ablished by the act Of the 9th Of August 1876, in
he receipt, custody and disbursements of the
public money, have continued to be successful.
Unde: this system, the public finances have car
lied Though the foreign war, involving the neces-
sly OF loans and extraordinary expenditures, and
requiring distant transfers and disbursements,
WITHOUT embarrassment, and no loss has occurred
Of any OF the public money deposited under its
provisions. Whilst il has proved TO be safe and
useful 10 he Government, its effects have been
nosi beneficial IN tse country. Il FASTENED pow
eiiully 10 secure an exemption from that imitation
and fuctustiOn Of the paper currency, so injurious
2 Domestic industry, and rendering so uncertain |
NE rewards oilsbor, and is believed 10 have largely
contributed 10 preserve the whole country from q |
commercial revulsiOn, such often occurs under
ne oank opposite system. 10 the year lS47, there |
was arevulsiOn in the business of Great Britain |
: great extent and intensity, which was followed
y isiiares m that kingdom, unprecedented in |
I amitt and amount Of loss. This is believed 20 |
Se ne INST Instance, when such Disasters and |
NN~eAiAAiS III n NOuHlIfg WIN WHICH
W, We have such an extensive trade or currency.
ne renamed but little affected in our money |
neLkel, anc our business and industry were all |
prosperous and progressive.
pliing me present year, nearly the whole con- |
.hsm o. Europe has been eonvulsed by civil war |
.Ha ie'oluuons, attended by numerous bankrupt
.es, " an Unprecedented fall in their public Sc
S-es, ano an almost universal paralysis of CON-
,n1 ana INDUSTRY, and yet, although our trade
M Prices Of eur products must have been affect
). :! lhese causes, We escaped revulsion; our
sHs market Is comparatively easy, and public |
~. private credit have advanced and improved.
So s' confidently believed, that we have been
~ - nom helr effects by the sautary operations
4 ~, constitutional treasury. II is certain, that
-. ae lSeniyiour millions of specie imported into
s1,s ' ~ during the fiscal year, ending ON the
10 u June, 1877, had gone into the banks, as 10
eItent Il must have done, it would, in the
AZ .'S % ms system, have been made the basis
anoss, nenvea bank paper, issued probably TO an
soIIs-. ny less han sixty OF seventy millions of
An "a, producing as an inevitable consequence of
,ns Ia currency, extravagant prices for time,
- SHo speculation which must have been fol.