Wisconsin tribune. (Mineral Point, Wis.) 1847-1854, 1848-12-22


riod was S54,o32l31. consisting Of domestic pro
auctions amounting to $4,000, I21, and s2I,>
l2e,0l0 Il s)d OF foreign articles
The receipts into the Treasury fer the same
period exclusive OF loans, amounted to $685.
75d.59, OF which there derived from customs
SIS, 7J5,J5095; from sales of public lands So
3IS.6i2,i3- ami from miscellaneous and incident
al sources, sJ5l03707.
1t will be perceived that the revenue from the
LAST fiscal year exceeded by s759O70,o6 the esti-
mates OF the Secretary Of the Treasury In his last
annual report and that the aggregate receipts dur
ing the same period from customs, lands and mis-
ceaneos sources. also exceeded the estimates BIZ
the sum Of 1886, 1906, indicating, however, a
very near approach IN the estimate TO the actual
result.
The expenditures during the fiscal year ending
the Both June last, including those for the war
and exclusive Of payment of principal and inter
est OF the public debt were Sis, ST. 79,03
Il IS estimated that the receipts into the Treas
ury for the fiscal year ending on the 30th June
$40, including the balance in the Treasury on
the ist OF July last, will amount to the sum OF
S5704o, 969,90; OF which 100000, it is est
mated, will be derived from customs, 100000
from the sales Of public lands and 100000 from
miscellaneous and Incidental sources, including the
premium the loans, and the amount paid and
10 be paid into the Treasury on account of milf
tary contributions in Mexico, and the sales of
arms and vessels, and other public property. rem
dered unnecessary TO the Government bv the ter
mination OF the war; and S20.695A35,30 from
loans already negotiated, incl ing the tIeasur-,
notes funded which together with the balance
n the Treasury on the first Of July last, make the
estimated
The expenditures for the same period. including
the necessary payment on account of the princi-
pal and interest OF the public debt and the pril-
cipal and interest OF the FIRST instaIment due to
Mexico on the Goth OF May next, and other ex-
pendltures growing out of the war, to be paid
during the present year. win amount (includine
the reimbursement of the treasury notes) to the
sun of 154, l95,27506, leaving an estimated bal
lance IN the Treasury the 1st Of July, 1919, Of
S2S5,394,S4.
The Secretary Of the Treasury viii present as
required by law, the estimates of the receipts and
expenditures for the next fiscal year. The expen-
dtures, as estimated for that year, amount to $50
799 l02 Is, for the interest on the public debt and
Sl399O,54 $40 for the principal and interest due to
Mexico OF the 31st of Nav 1850: leaving the
sum of S25274,050,35, which it is believed, Will
be ample for the ordinary peace expenditure
The operations of the Tariff act of 1916 havts
been such during the past year, fully to NEE:
the public expenditures, and to confirm the opin.
ION heretofore expressed on the wisdom of ].
sionr IN Usrr eysteun which was efecte3
ny that act The receipts under it into the Treas
ury ior Inc nrst hscal year after its enactment e-
ceeded by the sum of S5041 4O3 the amount cod
iected during TIE last fiscal year under the TarEf
act OF 1912, endlng Goth June. 1876 The total
revenue realized nom the commencement of tEe
operation, on the LIST December 1915. until tie
close OF the last quarter on the 30ta Of Septe1.,
neF last, beng p months, was S5G.G54 463 rs
being q much larger sum than was ever before re-
celved from duties during any equal period. upd:r
the action Of highly protective and prohibitisie
duties. The revenue has been increased; the tax
of 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 bounties maid to
former classes and pursuits
1 ne predictions which were made that the Tar
III act OF le46, would reduce the amount of rav-..
eaGe below that collected under the Tariff art Of:
II, and wholly PROSTATE the industry and bust !,
ness, and destroy the prosperity Of the coun;rys
have not been verified With AN increased sn,. ,
increasing revenue, the finances are in hic:aI1.
tlourlshnIg condition. Agriculture, cOnlrnerccslni
navigation are prosperous and the prices of mar:
utactured fabrics, and of other products are nIcs
less lniurousy affected than was to have beens ~
tclpated. from the unprecedented Revision wscl;
during the last and the present year have .Eye,
whelmed the industry and paralyzed the czedi
and commerce 81 50 many enlightened naticds 81
Europe
Severe commercial revusions abroad have =
ways heretofore operated to depress and often l.
affect dIsastrously. almost every branch of Ams--
lc,n industry. The temporary depression ofta
OF foreign causes, and is far less severe than has
prevailed on all former similar occasions tits
believed, that, looking to the great aggregate :of
all cur interests, the whole country was never
more prosperous than at the present period, a.ld
never more advanced in wealth and population 3
Neither the foreign in which we have ben
involved, nor the loans which have been brou.lt
over so large portion of our capital nor .he
commercial revulsiUG in Great Britain IN 81
nor the paralysis Of credit and commerce tlrolsh-
oat Europe in SIS. have affected injuriously: or
to any considerable extent, any of the great fer
esis 81 the country, or arrested our onward re-
70 greatness, wealth, and power
Had the disturbances in Europe not occur:ad |
our commerce would undoubtedly have been stII /
more extended. and would have added sta r.ora
to the national wealth and prosperity. Bat not |
withstand;ng these disturbances, the operafios of
the revenue system, as established BY the Tariff
OF 46, has been generally beneficial TO the gov !
eminent, aud business of the country. ans no /
change III ITS provisions IS demanded By the Cub
Ac policy, and none Is recommended. Tie 5ope-
ratlons Of the Constitutional Treasury establish
by act OF 6lh of August Is, in the recei9t, Gus ,
tpGy ana disbursement OF the public money, /
have continued to be successful Under sIis svs !
tenn, the public finances have carried thrs,,t, tba
foreign war involving the necessity of Iosn-s end
extraordinary expenditures, and requiring 5lifar- /
ent transfer and disbursements, without einbar-
rtssrncllt, and no loss has occurred of ay IF the
pubhc money deposited under its pro:lSi5ns-.l
Whilst 1t has proved safe and useful to .she: Gov
eTnmehI, IT. effects have been most bezei: al hi
the country. 1t has FASTENED powerful to!eccurs
an exemption from the imitation and i5.lctasiint |
OF paper currency, injurious TO domestic indus
try, and indeed 80 uncertain in the rewQeds al III
bor and IS believed TO have largely conribitei 10
preserve the whole country from a c0nFlerci5 Il /
CONFUSION, such as often occurs under this bank /
deposit system. In the year lS47, tharet was /
revision in the business of Great Bria.l eF s-ret
extent and intensity which was followed bv al |
ures in that kingdom Unprecedented In .ambfr I
and amount of losses. This is believed Il be tse I
first instance when such disastrous ba;k1slptci,s.
occurring in country with which W. bitve e.x- 1
tcnsve trade and intercourse IN Nqhicf: we V-s-e