Wilmington journal. [volume] (Wilmington, N.C.) 1844-1895, 1852-01-16
Re:,o,t OF the Secretary Of tao Treasury of the
United states.


| WAYS AMI MEANS.
The receipts from customs for the last fiscal year
MS before stated were upw ards of fortyni millions
of dcllars Should our h0rtatons of foreign mer-
chandize for the current Id next fiscal years equal
those of the mast year thereyenue from that source
for the tbree wears ending s0h June 1858 will have
been abou, Sl5O 600 600 Aside from demands up
on the Treasury for our new territories. this sum
wonld have been suf6ciant to have met the ordinary
esnenses of the government and to have liquida ted
| the entire public debt Notwithstanding those ex-
traordinary demands thefe has been effected since
the first of December lass redemption OF The re-
giStered debt TO the exteht OF Sl,66Io45 IL. Du-
ring the next >ca year TIE loan of Sd March, l843,
due lSt July. 1858. must be provided tor, and 1t is
expected 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 accordance with law
will probably amount to ABOUT 500 ooo he Old
| funded and unfunded debt. with the annual pay
mentso on account of the debt OF the District ce will
nrob,hIv ,,nount TO a further sum Of SCI 800 ma
kino an aggregate proposed redemption Of the pub
Ice debit during the next fiscal year of ST 234, 792
! 35
The premiums paid on S2523,200 of certificates
of Government stock purchased at market rates a.
mounted to $685. "a, or at cost of more than
one EIGHTH of the entire debt purchased These
rates. if anplied the whole debt as it stood on the
Goth November last. would require for its lquida-
tion in addition to that amount. about the sum of
80743l8 81. The probability is that increased
ment.
It NAV we'll be questioned whc her sound policy
does not demand that some discretion shall be given
to the Department to purchase, out of any available
surplus revenue. sound State stocks when it can be
done at or near par value, to be held as a sunken
fund towards the redemption of the public debt as
it becomes due. ,:nl thus the government the
large premium which otherwise will be required in
The redemption by purchase, market prices. of the
stock of the Unired States In the opinion of this
rh is 6oSir nd - c,b
mitted for such action thereon may be thought ex-
pedient
The language of the act 2Sth Sept 1850 extend
ing the grants of lands has prevented the warrants
issued by virtue thereof from passing into the hands
of the actual settlers by consignment: and conse-
quently the receipts from that source have not been
seriously affected by that act. The receipts from
sales of the public lands for the quarter ending 30h
September last, Indicate revenue from that source
for the current year of upwards Of two millions of dol
ars any excess OF receipts over the expenses con-
nected Herewith is already appropriated and there
fore those receipts whether more or less cannot af
feet the balance in The Treasury subject to appro-
priation at he end Of the fiscal year The greater
or less amount of pnblc debt redeemed will depend
upon the increase diminuon of such resources
he revenue from imports, consequently is the great
source upon which the country has depend for the
means to carry on the government
The unexpected addition to the boundaries of our
country. covering an area Of more than five hun
out doubt been one cause OF the large and sudden
increase Of our foreign imporations and consequent
increased receipts from custom duties. Our expen-
SEES consequent upon such acquisition have than
kept pace with the increase IF receipts. and they
VIII remain permanent charges upon the Treasury.
Revenue TO meet these required eZpendi ures must
be provided for and that during Il period when our
public debt is maturing 1t cannot for one moment
be thought advi, bic pre- suppose renewal of any
d"rtion Of such debt and therefore it should be
aim to obtain revenue sufficient to met these matur-
ing liabilities. in addition to the annual expenses of
the government
The receipts from all sources for the last fiscal year
amount to $50 312.979 81
The appropriations to 5l428.4l4 46
Being an excess Of receipts Of 1884 5G5 fl
The estimated aggregate receipts for the current
fiscal year placed ut S5l,500.O00 The expen
ditures eStima ed and appropriated, amount to
S3Q952.9O2 so. being excess Of estimated receipts
over estimated expenditures of S547.097 Al.
he receipts for the next fiscal year are estimated
at IS 100000 the expenditures at $40 800 800 10.
being an excess of receipts expenditures of S.
9Ol:10O 81. Nlading aggregate estimated
cess ct receipts over expenditures for the three years
ending June Goth. 1853. of Sl0.3393G3 63; subject.
however, to reduction to the extent Of any appro
priations which may be made for this the next
fiscal years, additional to the estimates submitted.
Shoul Congress appropriate to meet the ordinary
wants Of the government and to cover the eXpendl-
lures required by our new territories as submitted
by this Department the balance. at the close of the
fiscal year ending 3Oth June, 1858, will be more
than sufficient meet the amount required on the
first July following for the redemption OF the public
debt due on that day.
The question presents itself, in view of the ahso
lutte necessity for Il continuance Of present receipts
from customs whether in all the branches OF the in
dustry of our country, there is that healthy and vi
gorous action which is the basis of substantial and
lasting prosperity. Without this We can with
certainty presume upon any fixed amour of contin-
uOuS receipts.
Gross exports liable g. for the last fiscal year a.
mount to S2I75I7l3O: of which there was of spe-
Gle So. % S8) and of foreign merchandise re-ex
ported S9.73S,605, leaving as the exports of domes
tic productions the sum of Sl78.546 555 This pre-
sents il large increase upon like exports of any pre-
vous year and exceeds that of the last fiscal wear
the sum of S43646322. | regret that this increase
is merely of an accidental nature, and likely to be
confined to the year just past.
By reference to table II, it will be seen that for
the year ending the Both June. 1850 there were ex-
ported 635 604 pounds of cotton. at an average
value of S7l,9846l6. while 1926 6O2 2G9 pounds
! exported the year previous valued at but SOC
39G9OI. For the year ending Both June last. there
were exported 927237O89 pounds valued Mt Sll2-
315347. averaging II l1-1O0 cents per pound thus
exhibiting an apparent excess in the value Of this
staple alone that of the previous year of $40
$50 701
The very deficient crop of 1910 SO caused an en-
hancement in the value of cotton of nearly double
that of the previous yelr and still further advance
upon the average price of the last year. thus giving
the large excess in the aggregate value of the ex-
ports before stated. 1t must be borne in mind how
ever that these values reports not always the
prices realized on sales abroad They are the de.
ciared values Of the exporters from country