The southern press., 1852-01-09
From the Bait Sun
Annual Report Of the Secretary Of the U. s.
TrenAurY.

we nave tnlS document at lenS.n In Iul us
Ras nhe HEREIN Ras been ahtcipatea IN The
other department reports, &c. 1t opens with 8
detailed statement OF the receipts and eypend
lures OF the government, during the year OF
June 80, 1851, which have been before noted
table is given, showing the increased expen.
dltures CSC ,549,0S0 l2) an account of our ne W
territorial possessions, towards which liberia
policy is recommended, as they will ultimately
amply repay the present expenditures by per.
manent and powerful augmentation of the ma
tonal wealth. Add for the ordinary exr snses
of the government, as per estimates, $33, ,343,
2l9 OF, and we have the sum of ss42 1872 ,299 9
as the total estimated demands upon the trea,u
ry for the next fiscal year, leaving (the report
says) an estimated balance in the treasury, on
the lst of July, 1883 Of 500, 1864 90. This
sum, it is believed, will be ample to meet the
amount requi ed on that day for the redemption
of the loan of lS43 then due, of $6,237,93l 35
and such additional appropriations beyond the
estimates sub7nNed as may be made during the
present and nNxt sessions of Congress.
The table Of the public debt, as published in
the Sun last week, is then given, and the pith of
the report, including important recommenda
tons by Mr.. Corwin on the subject of the tariff,
the iron interests, &c, succeeds as follows
WAYS AND MEANS.
The receipts from customs for the last fiscal
year. as before stated, were upwards of forty
nine millions Of dollars. Should our inporta.
tons of foreign merchandise for the current and
next fl cal years equal those of the past year,
the revenue from that SOURCE for the three
years ending Both June, 1853, will have been
about $l50,000,000. Aside from demands
upon the treasury for our new territories, this
sum would have been sufficient to have met the
ordinary expenses of the government, and to
have liquidated the entire public debt. Not
withstanding these extraordinary demands, there
has been effected since the first of December
asst a redemption of !, registered debt to the
extent of s. ,667 ,843 IL. During the next fs-
cal year the loan of Sd March, l843, due ST
July, 1883, must be provided for, and it is ex-
pected 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 ac
cordance with law will probably amount to
about S925,000. The old funded aud unfunded
debt, with the annual payments on account Of
the debt of the district cities will probably
stnout TO a further sum of SOL 800, making IN
aggregate proposed redemption of the public
debt duriag the next fiscal year of S7,234,79a
35
The premiums paid on $2,523, 200 of certi6-
Gates of government stock purchased at market
rates amounted to 1925 ,655 "a, or at cost Of
more than one-eighth OF the entire debt pur-
chased. These rates, if applied to the whole
debt rs il stood on the 20th November last
would require for its liquidation, in addition D
that amount, about the sum Of SsSO74,3lS 81
The probability is that increased rates will follow
known demand by the government
IL may well be questioned whether sound
policy Dies 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 sinking fund towards the redemp
con of the public debt as it becomes due, ano
thus save TO the government the large premium,
which otherwise will be required in the redemp-
ton by purchase, at market prices, of 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 the act of 2Sth September
1850, extending the grants of lands has prevented
the warrants issued by virtue thereof from pass
ing into the hands of the actual settlers by as
signment; and consequently the receipts from
that source have not been seriously ndected by