The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1851-06-14

S5sss2I3l
Estimate Of the Secretary Of the Treasury. 1882 600
Excess Of revenue Of estimates Of Treasury
department. ................ $3.50 l3a
IT appears by this that the estimate Of secre
tary Corwin will fall full six millions under the actual
receipts for the year; d. when his siimate ale
the actual returns for quarter had been received
which, Of themselves sufficient data to form
correct calculation The estimates for the fiscal
year ending June 3oth, 1852, made In the
vague loose manner and they likely to be stil wider
the actual result than those 1851 If there has been
great in the estimates Of expenditures for the
present fiscal year the balance in the treasury the
3oth Of June, 1851 will be nearly millions e dollars
instead Of four hundred and eight thousand esti
mated In the event Of the revenue from customs and
other for the fiscal year ending 80 1852
being equal to that for the year ending 1851 aud
the expenses being greater than the present estimate
the Of expenditures viii be about six
millions Of dollars which, added to the surplus this year
will make the balance in the treasury the LIST Of July
1852 thirteen millions Of dollars instead OF there being
at that time deficiency Of eight hundred and sixty Ave
thousand dollars estimated by the Secretary Of the
Treasury. Such estimates exhibit the grossest igno-
the part Of the Secretary and show that the
heads Of the departments at Washington know nothing
about the Affairs they required to administer The
estimates referred to made longer ago than last
December Qs5o) when every merchant in any way
nceted with the foreign trade Of the country fully
convinced that the mporaton during the present year
woud greatly exceed previous year In tho history Of
eonedcracy and would advise the Secretary 10
consult Of leading merchants, when he makes
up his estimates for the future.
whether the present Secretary Of the Treasury like his
rnDediate predecessor wished In making out his e-ti
throw all the dscrcdt possible upon the tariff act
Of s4o not do not know but Nr Corwin appears 10
have about much faith in the operation OF that act In
producing sufficient for the purposes Of gov
srpment Mr. Meredith had during his brief term Of
oise The Treasury reports partake too much Of the
complexion Of party and most of the arguments and facts
pre nted In them for the purpose Of sustaining
prominent Of the party In power to persuade
the public that the system adopted by the previous ad
nnistraon for the regulation OF the finances Of the
government and the commerce Of the country, Is all
wrong and operates njuriously upon every important
interest This with the entire absence Of all practical
knowledge q the first principle Of and finance
b the cause Of the ridiculous estimates Of revenue and
she absurd conclusions arrived at by the different heads
Of the Treasury department. All the arguments all the
special pleading that be brought 10 bear against
the present tariff act h, in great pent in showing
actual deficiency In the revenue. With lower
average rate Of duty, It gave a greater net income
than any tariff before enforced while II Is less Oh
Fashionable in any q ts provisions than any previous
act within the past Ave years the Of the 60
vernment from customs has been greater than In any
previous corresponding period and the probability Is
that there will be steady increase The Secretary q
Treasury may distort facts he pleas he may
sert and repeat often he wiz hes that the tariff
of Is46 detrimental the best interests of the country
but the result q every years operation viii confouui
NJ opponeutS and the existing financial commercial
system the tunry stand evidence Of the foresight
and judgment It, orgnators and the wisdom OF those
Who adopted H. within the past twelve months the go
vernme has received nearly thirynve millions Of dol
lars all Il which has been paid in specie without de-
ranging in the slightest degree the movements Of CON-
meree without causing the least striugtncy in the
money market on the contrary, this extensive and
steady demand specie ha, been actually and entirely
caused by the prosperity and activity Of the commercial
slasscs aud whatever rcstrainshe wants Of the mer
chants for coin pay the custom House for dusics
may have had upon the movement u banking ins
tutiona they have been IL wholesome healthy nature
and therefore most desirable
There so many things to b considered in cal
eulsting upon the extent u our import tr,da from
year 10 year, and the limit a il depends upon 50
many contingencies, that II Il not To be supposed
that any a. the officials ut Washington eau have
anything but the MOST indefinite idea Of its prob able
The practical knor ledge fthe
" The nios reliable aud shoui az All tmes In such cases
h. made available The position Oi fofUign trade Ill
the tnse 81 - year no criterion FIR the next Few
weeks ray change TIE entire conpex0n a matte r.
Iithcr r. better or wore and The NOT careful elleui-
a.. "a rroyU taluties 8hc currency the con liti II
of III tItpf Ium season the hsrVe 40 stYs
81 political que uns and dozen other oauses, an 0pp.
rate more Or II $ poseifpiy Va regulating the
eal terct between nations, 81 cS'cn 'irg
tracing the exchange Of products 4aphs ,~ch other