Washington telegraph., 1850-01-23

notes issued under the act Of 1847. purchased out
OF the land fund and cancelled. Of these SIMS,
S9O, us dollars was new debt contracted since the
commencement Of the war. a s5esss7
The balance in the Treasury on the first Jux.
l849. was 2, l84,s %.
The aggregate ofthese sums, viz:
Balance in the Treasury Oh LIST tt.
July, l849, S2,l64964 %
Payments under the treaty, 1923, ,lO8 90
Payments out'of general fund on
account of debt, 100. .566 90
Land fund diverted 2OOO. ono on
Amounting to, 1864, ,635 81
and would have made balance in the Treasury.
to that amount on the LIST July, 1649, had none
of them been applied to the extraordinary purposes
above designated. see4 n - -
During the current fiscal year there will be re-,
qulred, in May next for the payment of an install
ment to Mexico, 3,540 900 dollars, and the land
revenues, estimated as diverted. will be 1000 900
making together 5, SAC, 900 dollars; which, added
, to the aforesaid sum of 2,604, ,63a g., would
make SIS. IA 630 81; from which deducting the
estimated deficit on the LIST July, $780, of S. $685.
l2l 66, would have left an estimated balance in
the Treasury On that day of Sl2, 2,3l5,5l7 oil.
Adding to that balance the instalmeIt to Mexico,
due in 1851, i,36O,0 900 dollars, and the revenue
| from lands diverted sS2,000,000, would make an
aggregate of ST 7,676,5i7 Oh; from which deduct
ing the estimated deficit the lst July, 1851,
S SAT ,092 t3, would have made all estimated
balance in the Treasury, on that day, of Y7,l29,-
424 %. slE
Tho Secretary then rrnrnene that an
thority be given to raise such sum- not
exceeding $l7,500O0O, as may be found
necessary, from time to time, by the issue,
of stock, or Treasury notes, on such terms
of interest mot exceeding six per cent.)
and repayment as the President in his
discretion shall previous to their being
issued, think fit to order.
70 provide for the instalment due
| Mexico in the fiscal year ending 3Oth
June, 1852: to secure means for the ex-
tinguishment of the public debt, and to
ensure sufficlency for all the expendi-
lures of the Government, it will be nec-
essary, IN the opinion of the Secretary, to
adopt measures for increasing the revenue
the most available means for which pur-
pose are to be found in raisiug the duties
on imports The Secretary thus states
the nature of the modification which it
appears expedient to make in the exist
ing tariff:
"The rates of duty are, in my opinion,
too low, especially on articles similar to
our own staples [ conceive that the rev.
enue has suffered materially from this
circumstance. Indeed, [ am compelled to
believe that it would have been greatly
diminished but for the extraordinary de-
mand for our breadstuffs and provisions,
produced by the famine in Europe in
1o47, and to great extent continued by
the short crop abroad in 1913. Even
| under these favorable circumstances, the
average revenue from woollens, cottons,
hempen goods. iron, sugar, hemp unman-
uactured, salt, and coal. has fallen under
the act of '46 from S24,262, GOT to S13,-
1892, ga so, taking the average from the
receipts of fS45-1S46 and those of 1840-
lol9' being an average diminution OF
$769 ,6S2, so: the loss OF annual revenue
being as follows:
On cottons, $91SS94 90
On hempen goods, 61764 80
On sugar, 1871 SO
On Salt 7so 34S,4 430 90
On Coal, 10000 90
S1,5SO.896 90
The gain as follows:
On woollens, 1855, ,592 so
On iron, 415,24O 90
On hemp unmanufactured, 4O,OS3 90