Vermont watchman and State journal. [volume] (Montpelier, Vt.) 1836-1883, 1852-01-29
REPORT OF THE SECRETARY OF THE
TREASURY.
TREASURY DEPARTMENT,
WssmNoroS Friday. Dec. %. 1851.

! The Secretary OF the Treasury reports;
The total receipts from all sources for the last
fiscal year amounted to S52,3l2,97O -, which
with the balance in the Treasury on the first Of
July. 1850. of S6GOi.5ii 80, gave as the total
available means for the year ending Both June
last, the sum Of S5s ,52i 36. OF this a
mount Sl9,0l7,567 % we're received from Gus
toms.
The receipts for the quarter ending the Both
of September last were SlJ.J6l .jll s. Of
which Sli7jl,g09 81 were from customs For
The corresponding quarter Of the previous wear,
the Customs yielded the gross sum OF ll.76i,-
Dab 0j. 1t is presumed that the receipts for the
three remaining quarters Of the current fiscal
year viii not exceed those Of the corresponding
quarters of the last year, and hence the receipts
from that source have been estimated at So
100000.
Tho estimated total receipts for the current
fiscal year amount 10 5l,50O000. The total
expenditures are estimated AZ $50 952,9O2 So
The total receipts for the next fiscal year are
estimated at >5l 100000.
IN order to present the various oh iects Of OK
pcndituro to Congress IN the most distinct man
ner possible, have caused the estimates for the
next fiscal year to be prepared with such Wow,
and therefore the amounts required for the usu-
al and long established wants Of the Govern
mont have been separate from such rs are deem
ed necessary for the protection and welfare Of
our newly acquired territories, and demanded ia
the iulfllmont OF our obligations, express or i'm
piled, in connection herewith.
II need scarcely be- stated that large proror-
ton of The increased expenditures Of the Govern
meni ia times Of profound peace are consequent
upon tho acquisition Of our new Territories
The estimates for those Territories. in addition
10 the otherwise ordinary wants Of the Govern
mcnt, are deemed essential 10 their well being,
I and limited
viii pursue liberal course of policy towards
ihai younger and weaker portion Of our country,
| RS q cannot be doubted that when permanent
/ population shnll possess them, and consequent
advancement in Mi The elements Of civilization
shall be realized, they viii amply repay present
| expenditures, by permanent and powerful aug
menltion of the national wc1lth.
The expenditures for the ordinary wants Of
4 TUE Government for the next fiscal year ere Csti-
mated at S;|3,3o32l9 o., os will appear ia the
detail Of the estimates already submitted to Con
gross Those submitted, as required by our
new territories, and in the ludllmoni Of our
obligations consequent upon their acquisition,
amount IN part to S9,5i9,Os0 -.
! Add for the ordinary expenses or the Govern
mont, MS per printed estimates, S}} 3l32lo o.
and we have the sum Of Sl2.sg2,2I9 - as the
total estimated demands upon the Treasury for
the next fiscal year, leaving an estimated unap-
propriated balance in the Treasury, cn the lst
Of July, 1853, of S203G6. Il3 80. This sum, it
BE- believed, will be ample 10 meet the amount re-
CURED on that day for the redemption of the
ioan of 1913, hen due Of S6,2379}l IS, and
such additional appropriations beyond the cstl-
mates submitted as may be made during the
present and next sessions Of Congress
PUBLIC DEBT.
The public registered debt on the 3Olh No
vember, 1850, was SCI ,22S .23S 81 since which
.eriod reductions have been made, amounting to
1867 : 10 H.
In addition to which, the awards under the
l5th article OF the treaty WIN mrNiru, FOR
which tho issue OF stock WIS authorized, a.
mounted to S2,59l2l3 -, and the nsialmont
under the 10Th article of that treaty, amounting
to -3,2l2,1O0, have been paid in cash.
The public debt on the goth ulumo, was 500,
5G0-395 %.
WAYS AND MEANS.
The receipts from Customs ior the last fiscal
year, as before stated, were upwards OF 10
100000 Should the lmporauons Of foreign
merchandise for the current and next fiscal years,
equal those of the past yeur, the revenue from
that source for the three years ending June 30,
1888, will have been about l5O0O00OO. Aside
from demands upon the Treasury for orr new
Territories, this sum would have been sufficient
to have met the ordinary expenses Of the Govern
ment and to have hquidated the entire debit
Notwithstanding these extraordinary demands
there have been effected since December Inst
redemption of the registered debt TO the extent
Of II 667.s H. During the next fiscal wear
the loan Of d March, -, due lst July, 1853,
must be provided for aud Il is expected, mly be
paid IN cash out Of the receipts from the
usual sources Of revenue. ! he amounts ol the
land iund to be invested IN accordance with law
VIII probably amount Ia about $925iOl The
old funded and uniunded debt with the annual
payments on account of the District cities. will
probably amount to a further sum of ~6l 200,
making an aggregate proposed redemption Of
ne pnnlic debt during the next fiscal year of
s., 23J,792 80.
The premiums paid on S2523, 300 of cerf-
Gates Of Government stock purchased at market
rates. amounted to SB25,G55 q, or at a cost
of more than one eighth of the cutire debt pur-
chased. These rates, If applied 10 the who
debt as II stood on the 20ih of November
last, would require for its liquidation in addition
to that amount about the sum of ~SO7i3l- 81
The probability is that increased rates Will follow
known demand by the Government.
~ mny well be questioned whether sound pol
ICY does not demand that some discretion shall
be gwen TO the Department 10 purchase out Of
any available surplus revenue sound State stocks
when il can be done at or near par value. To be
held as a sinking fund towards the redemption
OF the public debt as it becomes due, and thus
save TO the Government the large premium which
otherwise will be- required in the redemption By
purchase at market prices of the stock of the
untod states. In ile opinion Of his Depart
ment such course is desirable, and II Is sub /
United for such acton thereon as may be thought
cXpcdient
The language of the act of 2sth September,
1880, extending the grants Of lands. has prevent
ed the warrants issued by virtue thereof from
passing into the hands Of the actual settlers by
assignment, and consequently the receipts from
taat source have not been seriously affected by /
that act The receipt Of sales from public lands |
for the quarter ending the Both September last.
Indicate revenue from that source for the cur
rent year ofupwards of s9,000,00O. ANY excess
oi receipts over the expenses connected there /
with As already appropriated, and therefore, those
receipts, whether more or less, cannot affect the
balance in the Treasury, subject TO appronria
ton at the end Of the fiscal year The greater
or less amount of public debt redeemed viii de- /
pend upon the increase or dlmuuition Of such .
receipts. The revenue from imports conseqncnt-
y Is the great source upon which the country
mas To depend for the means to carry on the gov-
s'hhehi. The unexpected addition 10 the boun-
uaiieS OF our country, covering an area Of more
nan '<o'OoO square miles, has without doubt
peen one cause Of the large aud sudden increase
OF our ioreign inporlations, and consequent in