The voice of freedom. [volume] (Montpelier, Vt.) 1839-1848, 1848-03-23

WIN SOiAiOAhSu uSVlOh upon lHG IllOucy mar
D ket, must perpetuatc this state of things.
; Sir, have been comparing the estimated
receipts for the current year with those of tn,
last have remarked that in these calcula
., tons the data are derived from the results O
the past, from the estimates of previous years
and have remarked further, that during the
year 1847 great part of the receipts con
slStS of returns which properly belong to
former period. Now, l ask, on what ordinary
calculations, in view of these circumstances
the honorable Secretary raises his estimates
of the receipts from twenty-four, the actual
receipts last year, to thirty-one millions OF
dollars? What considerations furnish basis
for such calculation?
l have taken some pains to ascertain how
the honorable Secretary arrives at it. 1t is
this lie takes, in the first place, the receipts
Tor the first quarter, for July, August and
September These are precisely the months
IN which we were getting returns for our
breadstuffs. He then proceeds to tell us that,
assuming the revenue of the first quarter to
be an average OF the year, the proceeds from
customs tor the whole year will amount to
forty-hve millions. 1t is enough to say of
this calculation that the honorable Secretary
himself dlscards it as the basis of an estimate.
Being dissatisfied with this result, he proceeds
to ascertain the relative proportion of the
revenue OF the first quarter of the year as
compared with the revenue Of the year, for a
series OF years. He thus ascertains that the
first quarter is the most productive, and, by
reducing his estimates in proportion, he brings
his calculations down to forty millions instead
OF torty-fiVe. But he is still dissatisfied. The
next step is to ascertain the revenue for the
i've months next previous to the first of De-
cember, lS47, which he tells US amounts to
$15,5O6,257, or little over $3,0OO,O00 per
month. Estimating the revenue for the
twelve months at that rate, (making, proba-
bly,, an allowance for the greater productive
ness OF the first quarter) he would make the
revenue OF the year amount to $50, 100000. |
But he is not satisfied with this. What next ?
lie ascertains the receipts for the last two
months of the five, viz: October and Novem-
Der, to be $2,200,000 per month; and eSt- |
mates the receipts for the residue of the fiscal
year at that rate To this he adds the actual |
receipts of the first quarter, and it gives about
$31 100000 for the year, as will be seen by
the following table?
Actual receipts for five months
ending December l. 1847, $15,506,257 |
Receipts for the first quarter
as per annual report deduc-
ted, 11,1O6,257
Leaves for October and No
vember, 100000 |
Cor average of 100000 per
monthly
Estimating 8 months at that
average, 100000, 19,SOO,O0O
Add actual receipts of frstquar-
ter, 11,106,257
Gives for the year, 3O,9O6,257
Or, in round numbers, 100000 |
Here you have the basis of the estimates of
the honorable Secretary.
Now, the Secretary finds his receipts rap
idly declining, because the importations are
declining. 1t appears, as heretofore stated,
that the receipts for the first quarter of the
current year amount to S11, 106, 257, or equal
to $3,702,0S5 per month The receipts for
October and November are equal to 81, 200,-
900 per month. Thus we have falling off
during the first five months of the fiscal year,
from $3,702,085, for July, August, and Sep
tenber, to $2,2000Oo, the average of Octo-
Der, or falling off of 81 100000 per month.
Is it not apparent to every Senator who
hears me, that this decline must continue ?
IS it not apparent that there is an overstock
IF goods in the country; and is it not well
Known that the scarcity of money has induced
Importers to countermand their orders for
goods Sir, we have it from the very best
authority ?
Under these circumstances, although there
nay be great influx Of revenue during the
irst quarter of the year, it is apparent that it
S the mere effect of the accumulation of rev.
niue i'll that quarter for the reasons I have ! !
mentioned. The very fact that your imports, l
nd, consequently your revenue, are increas-
ID in one portion of the year, must lead YOU !,
o expect that it will decline in the other por-
ions.
Now, ask, on what princip pie it is expected Q
hat the amount of the revenue from imports !;
his year will exceed that of the last ? Sir :
he true rule of comparison would be to take o
he fiscal year, and that for the very reason q
hat have already assigned. The tariff of n
S46 covers the fiscal year ending LIST of July, {
SAT-, although it went into effect in Deem y
err, because the payment of duties was in a +,
reat measure suspended during the interven- II
lg time between the passage of the act and o,
ne time of its going into operation. Well, s
r, will not pursue this branch of the sub 81
,ct.
What is the next ground of the honorable Al
ecretary's estimates He estimates three Y,
nd a halfmillions as the proceeds of the sales ii
the public lands. Well, sir during the ot
asst year your sales did not reach two millions +,
nd half Upon what theory, then, it is that III
he Secretary estimatesone million more from I'll
lie receipts for public lands than was actu- d,
ly received last year, l have yet to learn. di
is point which l am not prepared to dis hi
ISIS, because can see no reason at all for III
ch an estimate and, unless reasons are nt
resented from some other quarter, shall still ri
, incredulous. deduct, therefore, one mil M
IN from the estimated receipts from the pub "