The southern press., 1852-01-10
From the Bali. Sun.
Annual Report OF the Secretary Of the U. n
Treasury,

We have this document at length in full, a,
il goes into Congress- Much Of the matter
contained therein has been anticipated in the
. other department reports, &c. 1t opens with
detailed statement OF the receipts and eXpendi
lures of the government, during the year o.
June 80, 1851, which have been before noted
A table is given, showing the increased expen
ditures $50 ,549,OS0 l2) an account of our new
territorial possessions towards which liberal
policy is recommended, as they will ultimately
amply repay the present expenditures by per.
manent and powerful augmentation of the ma
tional wealth. Add for the ordinary expenses
OF the government, as per estimates, 1913 343,.
2l9 OF, and we have the sum OF So, 49,, 299 l9
as the total estimated demands upon the treasu
ry for the next fiscal year, leaving (the report
says) an estimated balance in the treasury, on
the LIST of July, 1853, of $40, 366,443 80. This
sum, il is believed, will be ample to meet the
amount requi ed on that day for the redemption
Of the loan of l843, then due, of SO, 237 ,93l 35
and such additional appropriations beyond the
estimates subiSfted as may be made during the
present and next sessions of Congress.
The table Of the public debt, as published in
the Sun last week, is then given, and the pih OF
the report including important recommends.
tons by Mr.. Corwin on the subject Of the tariff
thS ~ VII ihhCiSne7, WI ouSSSSuS 90 lOiiO"b--
WAYS AND MEANS.
The receipts from customs for the last fiscal
year, "a before stated, were upwards of forty.
nine millions Of dollars. Should our importa.
lions of foreign merchandise for the current and
next 6cal years equal those of the past year,
the revenue from that source for the three
years ending 30th June, 1853, will have been
about Sl5O,000,0O0 Aside from demands
upon the treasury for our new territories, this
sum would have been sufficient TO have uIet the
ordinary expenses Of the government, and TO
have llquidated the entire public debt. Not.
wthstandng these extraordinary demands, there
has been effected, since the first Of December
last, redemption Of the registered debt TO the
extent Of 1867 ,S43 |. During the next ifs.
cal year the loan Of Sd March, lS43, due Isl
July, 1883, must be provided for, and it is ex.
pecled may be- paid in cash out Of the receipts
from the usual sources Of revenue The
amounts Of the land fund TO be invested in nc.
cordance with law will probably amount to
about $025,O00. The old funded and unfunded
debt, with the annual payments on account Of
the debt of the district cities will probably
amOut TO further sum Of $6l 800, making an
aggregate proposed redemption Of the public
debt during the next fiscal year Of S7,23I,792
3d.
The premiums paid on S2,523,2O0 Of certih-
Gates Of government stock purchased at market
rates amounted to 1925 sos ~, or at a cost Of
more than one.eighth of the entire debt pur-
chascd. These rates, il applied to the whole
debt as il stood on the 10th November last
would require for its liquidation, in addition to
that amount, about the sum of $8,O7l,3Is 81
The probability is that increased rates will follow
known demand by the government.
IL may well be questioned whether sound
policy es moi demand that some discretion
shall be given to the department to purchase,
out Of any available surplus revenue, sound State
stocks, when il can be done at or near par value,
10 be held as a sinking fund towards the redemp
ton Of the public debt as it becomes due, aud
thus save TO the government the large premium,
which otherwise will be required in the redemp.
ton by purchase, AZ market prices, IF the stock
OF the United States. In the opinion of this
department, such course is desirable, and il is
submitted for such action thereon as may be
thought expedient.
The language of tho act of 2sth September,
1850, extending the grants fIands, has prevented
the warrants issued by virtue thereof from pass
ing into the hands Of the actual settlers by as
silgntsent; and consequently the receipts from
that source have not been seriously affected by