Burlington free press. [volume] (Burlington, Vt.) 1827-1865, 1848-03-10

of inportations, including free goods my cst-
mate is of dutiablc goods only. If recollect
Alright the average rate of the existing tariff is
twenty-five or twenty-thrce per cent. Now.
such an importation exceeds the ability of the
country. Such is our present situation and
what are we to expect for the period included
between this and the lst of July. 1919? Your
necessities for money, your exorbtant demands
for loans, combined with the operation of the
Subtreasnry and its specie clause, pressing
with combined action upon the money market.
must perpetuate this state of things
Sir, have been comparing the estimated re.
ceipts for the current year with those of the
last. ] have remarked that in these calcua-
tons the data are derived from the results of the
past, from the estimates of previous years and
! have remarked. further. that during the year
1877 great part of the receipts consist of re-
turns which properly belong to former period.
Now, ask, on what ordinary calculations, in
view OF these circumstances the honorable Sec
rotary raises his estimates of the receipts from
twcnty-four, the actual reconsderations furnish
n basis for such calculation.
have taken some pains to ascertain how the
honorable Secretary arrives at it. 1t is this
He takes in the first place the receipts for the
first quarter, for July, August, and September.
These are precisely the months in which VIC
w - S'S " ~ -
enue of the first quarter to be an average Of the
year. t,e Procecus ''o'n o"s.o"'9 ,u' ,''c w.'o'
year will amount to forty.iive Millions 1t i,
enough to say of this calculation that the honor
ae'e secretary h',,'sel o'sca,Gs as . i"e oas.F
suit he proceeds to ascertain the relative pro-
portion of the revenue of the first quarter of the
year as compared with the revenue of the veal
lor series Oh years. lie mus ascerta,''s ,na'
,,'e '"s' !"artc' Is iio>t P'ouuctNc; anu, ny re-
auc'hg ms estimates IN Proportion ne brings ma
caic"la'iohs down To iofty millions instead o.
Ior'y I'VE. Dut ne Is sun dissatishcd. Inc neX
sep Is TO ascertain the revenue tor the hvt
months next previous TO the LIST December. 1917
which he tells us amounts to ssl5.5O6257 or 6
little over $4,000 900 per month. Estimatin.
the revenue for the twelve months at that rat,
(making probably an allowance for the create
productiyeness of the first auarter) he woul,
make the revenue orthe wear amount to 81. 1000.
600. But he is not satisfied with this. VIVA
next? lie ascer,ains the receip,s for the las
two months of the five. viz. October and Novem
Der. to be $4,000. 900 per month : and estimate
the receipts for the residue of the fiscal wear n
that rate To this he adds the actual recent
of the first quarter. and il oivcs about S3l 600
600 for the wear, as will be seen by the follow
table.
Actual receipts for five months end.
+ ing December |. lS17 Sl55O6. %
Receipts for the first ouarter as nor
annual report deducted. u.lO6. o5
Je,ves for Octobor and Novombor 1Oo 40
(Or an average of . 10o ono nor month
Es,imatino O months at that ,vor,ro 10 SIN M
Add actual recein,s of fret nu,r,er n IoG "a
Gives for the vcar al one ~
Or in round numbers. Al 600 O0
Here Won have the basis of tho estimates
r the honorable Secretary
, Now. the Secretary find, his receipts rnp;dl
{ declining because the in.portatinns are declir
ing. 1t appears, as heretofore stated, that III
receipts for the first quarter of the current yea
amount TO 81 I,l05,l57. or equal TO S3702,0s
: per month. The receipts for October and Nc
vember are equal to S22Oo,0OO per month
; Thus we have falling oil during The first nv
months of the fiscal year from S3,lo2,os3 10
July, August, and September, To ~ ,ooU, ID
average OF October, or falling oil OF 81; oOo
600 per month.
1t Is not apparent to every senator who hear
me that TINS decline must continue! Is 1t nc
apparent that there Is an overstock OF goods /
the country, and Is IT not well known that tn
scarcity ct money has induced importers
connterlnahd their orders Tor goods SIR, W
have ~ from the very best authority
Under THESE circumstances, although Their
may be great influx OF revenue during the mr.
quarter OF the year, IL Is apparent mat II Is III
mere effect OF the accumulation OF revenue il
that quarter Tor the reasons have mentioned
The very tact that your imports, and conse
qncn'iy your revenue, are increased in one poi
ton OF the year, must lead you to expect that
VIII decline III other portions.
Now, ask, on what principle II Is cNpecte
that the amount OF the revenue from imports tn
year VIII exceed That OF me last! SIR, the trl
rule oil comparison wonla De 10 TAKE the isca
year en1ih! ISL OIL 'u'y' iof'' alno"gh II wen
mo eject III Decehoer' because 'he payment
dut'es was III great measure suspended dur'n
'he intervening uInc between 'ne passage OF Ia
aCt ana lhe ,'lhe o' It's go'"9 mo opera''oi,,
wen, SIT, VIII not pursue this orahch OF III
SUBJECT. -,
"na' - '''c heAl Srunhu oi inc 'oiorao'
secretary eSuhates lie es''iates three an
nan ni'''o"9 "7 ,Hc proceeds OF the SAFES
the p"onc iahus' wen, s'r' during Tue past yea
your sa'es o.u hot 'each TWO 'h'''.oi,s anu ha
Upon what theoiH, men, Is u 'iat the "ecretar
: esuhates one h''''o'i more from the receipts io
puo"c auus 'liah was act"aHy received last yea
: l nave yet 70 learn IL Is point wh'eh al
: not prepared TO discuss because can see n
" reason al all ior sucii an estiihate ana, uhles
c reasons are presented from some other quarter,
$ shall SUI be lncredn'ous' deduct, therefore
u one uh''on ''ph '''o I'm VI
e pubic ana7' because ''o e,una'o exceeds
II eNPc'ie''0c' ""u ~ ,,, i,Jrnnn, o,'' La ;"
/, 'isheI ana hoTy' ~ "'l ",;, Gan o' a.