The republic. [volume] (Washington [D.C.]) 1849-1853, 1853-01-21
Treasury Report.

treasury REPORT
We learn from the report of the Secretary of
the Treasury, presented to Congress yesterday,
that the aggregate receipts for the fiscal year
ending June 80, 1852. were SAG, 728, 1886 SO,
to which is to be added balance Of $lO,9ll,-
Gas 68, in hand July l, 1851. The expendi-
lures during the year amounted to SAC, OO7,-
1886 20; leaving balance at the commence
ment of the current year of $14, 632, 1876 81.
The receipts Of the current fiscal year are
estimated at ISL 300, 900, which, added to the
existing balance, will form total of $65, $780,
1856 81. The expenditures are computed at
S6O, $780, 56 Sc. including $7,l99, AIT II,
which is to applied to the redemption of the
public debt. If these calculations be realized,
then, the year will leave an unappropriated
balance of $5,372,O79 81. 19-
The total means of the following fiscal year,
commencing July |, 1853, are estimated at
$5o,572, O79 81. including balance; and the ex-
penditures at $46, 2O3, 1853 go.
The expenditures of the last year embraced
the last instalment due to Mexico under the
treaty of Guadalupe Hidalgo, and the payment
of upwards of $4,000, 900 for interest, besides
nearly 100000 for the redemption of the
principal of various loans. Ded ucting these
and other items of extraordinary expenditure
of the period, reduces what may be termed the
regular working expenditure to $50, 434 ,692 SO.
The accuracy Of the estimates made for the
current fiscal year have Appropriated closely
to actual results. Thus, the receipts, which
were calculated at ISL 100000 for the whole
period, have amounted to $22,22O, 299 90 in
the first five months; and the estimated and
actual expenditures bear like proportion.
The latter, however, have been increased to
the extent of about 10000 900 by appropria-
tons of Congress not included in the estimates
presented by the Treasury Department.
The aggregate registered debt of the coun
try has been reduced by the payment of 49,
42o,7O3 IL on various accounts, and on the
first January instant stood at $65, 131 ,692 Is,
exclusive of 100000 still deliverable to
Texas under the act of September 9, 1850. The
report recommends that the Department be
empowered to purchase any portion of the out
standing stocks at the current market value,
to the extent of any surplus means on hand
providing, however, that the available Trea
sury balance shall not be reduced below IS.
100000. - ~ 81
Abiding to the decrease of 81, $751; 80
In the receipts from duties on foreign merchan-
disc as compared with those of the previous
fiscal year, Mr.. CoRwIN remarks that the de-
cline is ''deemed but temporary" whilst it
shows the uncertainty of large amounts (which
In times Of high prosperity are expected from
that branch of revenue" He refers also to
views expressed in former reports in regard to
the prejudicial tendency of free trade legisla-
ton, which is described as tending ssinjurious.
ly to affect, if not to great extent to destroy,
some OF the prominent manufacturing interests
of the country, by giving to the foreign pro
Queer the control of the supplies of our home
market" The experience of the iron trade is
cited as particularly illustrative of the opinion.
Of the whole of our enormous agricultural,
mineral, and manufacturing products, but one
twentieth part is transmitted to foreign mar
kets; being little if at all more in point of
value than the coastwise trade to and from the
American ports in the Gulf of Mexico, and
less than the mere tolls collected by the canals
and railroads on the transportation of merchan-
disc for the internal trade of the country
On review of this portion of his subject,
Mr.. CoRwIN sees sufficient to confirm his
conviction that tariff with fixed and reliable
dnties would be vastly more beneficial than the
present uncertain rates.
The foreign merchandise imported in the
year amounted to $2O7. JOG ,73S; of which
2.037 ,O43, in value, was re-exported. The
domestic merchandise exported in the same pc
riod were 1854 ,930,447. The specie exported
during the same period was not less than
$42, 1914, 1856, showing an increase of 3d.
pol $685.. l q z. 2
The gold coinage at the mint for the year end
ing 31st December last was $5l SOC, 638 so. In
reference to the intended mint at California, it
is remarked that the sum of $500, 900, to which
Congress has restricted the expenditure, is in
sufficient; and that before any further steps can
be taken, Congress must authorize the pur-
chase of site, and provide the means of effect
ing it. The Inconvenience accrning to the
merchants of San Francisco from the opera
ton of the act Of last session prohibiting the
receipt for public dues of the issues of the
local assay office, is submitted to the considera
ton of Congress. The pressing and general
want of silver coinage is another matter to
which attention is directed, and the bill which
passed the Senate last session, making a new
issue Of reduced weight, is spoken Of as the
only available remedy within the knowledge
of the Department. .
The bullion fund during the year has amount
ed nearly to 81 900 900, which has been an
piled to the redemption Of mint certificates.
The cost of maintaining the fund is from
$3.50, 900 to $40O, 900 annually, and Mr.. Cor
WIN proposes to dispense with it by making
mint certificates receivable in payment of all
dues to the Government, making them redeem
able at the mint within, say, twenty days after
the bullion deposited shall have been assayed.
Restrictions are suggested to prevent the indis-