The daily union. [volume] (Washington [D.C.]) 1845-1857, 1848-02-16


MIR Vntons attack on the report of the Secretary of
the Treasury recos upon himself He had not even the
candor to state that Mr. Walkers estimate was for two
years, il was the Secretarys duty TO make and if
owing accidental causes the for the first year
did not up to the estimate, Mr. Vnon should have
referred to the probable receipts of the second year. from
customs, which will ovenun the estimate and more than
make up for the deficiency of the first year The
two first quarters OF the second year amount to more than
sixteen millons-that is to say, from LIST of July 10
LIST OF January, Cult y and already the receipts from
LIST OF January To this time about five Millions and
TO the end OF the present quarter may five
millions MORE en millions for the whole of the present
quarterly Then the 4h quarter, which expires on the
3oth June next is estimated at such sum as will run
up the receipts of the whole year from customs 10 thirty
one or thirty-two millions Mr. Vinton falls into SINH
lar errors about the proceeds of the sales of the public
lands as also the miscellaneous receipts, which, instead
OF being only 100000, will amount, in consequence of
the Solicitors sales, to about 100000.
The money article in the New York Herald also
points out another of revenuetat derived from
military contributions levied in the ports of the enemy,
and from other of requistonwhich the Secre
tary did not profess TO estimate with any precision But
shall not be asonshed run up in the course of
the year to seven rperhaps ten millions The roads
are getting open and free from the attacks of guereros
Goods may travel with safety into the coun-
try. Besides, we pushing arms farther into the
interior Our express news of last night informs us of
our having taken Orzaba AS our arms open the DOORS
articles of consumption will follow and more and more
duties will be levied in the ports of entry True the
transit duty is abolished; yet the goods are made
uL.,.. -. I 1
more money drawn from the country in the shape
of duties. The drawn from Mexico
will be increased, too, by the internal taxes, and by
the receipts at the mines, draw them within the
control OF our conquering arms.
The New York Heralds article touches too the projet
of the Committee of Ways and Means. Every one
knows that obtain money on better terms by
treasury notes than by stock Stock was below par
when made the great loan of last year-treasury
notes little above par. If the loan act of last year
had nerdcted the of treasury notes. we could not
have obtained large loan par 1t will be SO at the
present time. Why, then, does Mr. Vnton talk of limit
ing the loan par and Stocks when he knows that the
money cannot be obtained' The whole country will see
the design if this discrelabe system of the majority of
the committee be prosecuted II is as the Herald saws
to embarrass" the government. 1t will be exposed in
its true colors, as party movement designed to fcer
the administration, and to compel them the war;
without regard to the honor of the country The Herald
does nothing but sheer justice to the Secretary of the
Treasury We the last person to detract from the
abilities of MIR. Vnton but must say that Mr. Wal
ker shis master in finance He has studied it MORE and
understands great deal better than the chairman of
the Committee of Ways and Means
From the N Y. Herald.
Durng the past week there has been consde rabe ex
in the stock market quotations for most of
the have advanced from five ve-and twenty per
cent but fell back again to about the starting point There
has been speculative movement in stocks for past three
weeks but the reactions have been and so
great that prices at the close of the market yesterday only
show improvement of from five per cent upon the
lowest rates which have ruled during the panic There
may be any further improvement in prices for time
but there is very e probability Of decline any conse
quence below prices current 1t is hardly vet for
any speculative of much importance in the stock
market there several things weighing upon the
financial and commercial classes calculated depress con-
idence and induce cautousness The banks have but
slightly relaxed the restrictions they pla ced upon them
selves and until the of this timidy
expect permanent improvement prices for
stock securities The advance already realized n the fan.
ces, is more than what is warranted by the prove
ment which has taken place in the money market The
suspension of shipments specie Britain was the
direct of the rise in Stocks although the reports of
peace, doubt, had favorable influence and the relief
the money market realized
Of bullion was sufficient the adva nee which has
taken place.
'"The only thing of any importance which now weiybs
upon the market and keeps speculation check is the
fact that issue proposals for another
loan AS soon as this difficulty is removed there will be
obstruction the expansion of the banks and an in A.,
ton of credits but the independent and that will
be sufficient if the provisions of that act are strictly en-
forced 1t has yet been determined upon in what man
the loan will be negotiated, or in what shane
treasury will be issued the event of an issue
being authorized. Should stock loan be determined
upon tn immediate effect of negotiating it upon the mar
ket will be unfavoabe than an issue of treasury
and the which such loan would be taken
would be more unfavorable for the government.
"The pursued by the chairman Of the Committee
Of Ways and Means relative this is calculate to
embarrass the government very much in its financial
operations. The estimates of Mr.. Secretary Walker
have, heretofore, been exceedingly accurate His calcu
ations relative to the of the govern ment from
customs from the sale of public lands and other
Sources have been very and his estimates rea
tive to the expenditures of the war; when
hostilities first commenced, and there were very few
data to base estimates upon have been so near the
actual amount expended, that capitalists have placed
considerable confidence in his statements regarding the
future wants of the government. The Secretary of the
Treasury has many of information at his COM
mand the chairman of Ways and Means and the public
generally will place much reliance upon his estimates
upon those Of Mr. Vnton, particularly when the fact is
taken into consideration that the gentleman repre-
party that wishes to manufacture much political
capital of the financial difficulties government as
possible between this ond the presidential campaign
The Secretary of the Treasury says that he wants but