New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1853-12-08

= fim IN Wash'urto. los t-s puf,ha.s gsaa .a,1-
debt.
The accounts have been clos n in part by tie talieo
the stock 6gIeed 10 bs pGichas T. snl 9sr - epi1
.he money in tle Pablo treasury. tier- 1- o. n'i',
from tnese Talseciols D.. Il was {. as iefsl .i-' s.-
advance OF money 10 agents Tor ls puelAc ., 'if
Debt Of doubtful policy. aud 1ig. boone nit ~ :.
and lead 20 misappcaiiyn Of iae p1u4; 4.4 ana -
fayoIsIa. Twas determined 0o - euniid- 10 - ilV4
Of Iedeemng and purchasing tbs ni1, ds1- Pam, pa,
lice az given that the .JyJll1 +,aa 81 irt''
bearing ve per cent interest and reee i0e 81" 10 80
July, ls3 would be redeemed at the Treasury Cd ira,
Gay, or a. an cary PERIOD, as set on IA sAs ice aI
that nie rast would from and after tie lt july irS
The notice. marked ID. econ anies tbs report.
Tie doily meats AZ Il treasury ia dsea-go q the
pubic liabilities and the redemption oi said ioan al MT
equal the receipts. large surplus accuni -atel IN ne
iTetsnry and became Of alarm in 60 nmefcal IN
financial circles. Il was hoped that the a'clnl Anon IN
the treasury would exercise beneficial restraint upon
nportSonz and speculative credit enterprises, and bring
tie business Of the country into sale ani "A'is'. ne
dixon: yt, under tie rehersioA that panic N 1t
arise Om too stringent operation OF le treas ry Il AS
determined 10 make adv 10 the Mini for tie purchase
Of silver os the coinage, and TO enable th6 MIA. 70
pay prcmE1y aDG in ed OF Ell -ge TO- god Ddiljn
Tie alorlt o. ney deposit IA ihe mint on ne an
II March vas s60s2 go and was increased by the Isl u
July to sa,57s9O o5. and on the Slia OF Novanoe,
1853, Sl45l0-9 30 This enabled the Iinl T. give god
vhi circulated money for SILVER that was 0It OF c.,
culeiion because Of lie premium upon Il an iof go4
bullion that could hot circulate as money unt coined
ia believed thai this operation tended u lessen me ct
fec; OF the accumulation but the acrunui anon stun con
tiDulre II was thought advisable fusher % lessen it by
cnrr ut market price in The cities OF Philadelphia and
New York as authorized by law AL an arrangement
was made with broker each Of those places 70 mske
such purchase 10 be paid for on the ana De
livery Of he stock a. the Treasury. These purchases
continued until The let jay 80 ana csassl asr
IL at date The amount stu continuing TO ace! mlse IN
the Ircasriy Apprehension we're entertained thai con
traction fSacolts BY tic city banks OF New ork would
result from the weekly statements required Uom those
bsrIs under On act Of the Legislature Of that state AMI
combining With the fact If the large amount 10 the lasu
~ nigh, have injurious influence OF hnancih ana
yf.Hr EUr
rublc Insurance that money would not be perm ted 10
accumulate in the Treasury il the public de0t could De
he'd al the current market price puo; o1sf was maze
on the 3Ch July redeem a. the Treas lr Ost"een at
time and the lst Of December the Of SjOJ0OOO OF The
loans of 1871 and l5i5 at premium # p per cent and
int, rest from the Let Of July, 1888 on the principal And
On The I'D August another public offer made for
100000 % the loans pay abe IN 1870 ana lso hs I'rn9s
premium Of q Per cent ana the later AZ premium
These notices marked and +, accompany this report
II was thought tina, such pablo Ter Tor TIE stocks AZ
the then current market price would be expedent on tne
rart OF the Government and lust and fair to the holders
have beneficial effect upon the money market and Sc
cure larger amount of the public deoi than any oher
node that could be adopted The resal ha' been salts
The balance of the loan of tie three corporate cities of
the District assumed by Congress in i being s@OoOo
communication to the agent Of the Trustees Of
M loan ard price agreed and accepted t. the extent Of
$4,000: and Is expected that the balance will be Oh
tanned at the same price IN short ii,ne = oo oo IT,
lends bearing five per cent Interest aud purchase OF
some of them effected in tie manner STAT in the tables
The fact Is established that the public debt Of each scrip
ION can lie obtained at the premiums offered and paid aud
that the premiums may be reduced az tn time x'i ny me
terms of the law for redemption approaches
The balance in the 1rear! On tho aOth OF Septsnoer
with lie efinsted receipts for the second, thi'd aud
fourth quarters Of tie present fiscal year being SO ar IN
excess Of the estimated expendiufes of me sam, CINE
viii Justify the further application 81 el'OJ0V 10 'Ie '
chase the debt and leave sufficient surplus IN the iea
my FOR any practical purpose The purchase OF the dept
therefore been continued and sIs5I49o ~ expenls9 ~
l,rrsr tho olpI ana OF
considered that the present prosperous condition o. the
Treasury growing Out Of the great prosperity Of all he
industrial pursuits Of the country aforis an opportunity
to apply the surplus TO the diharge 81 me puDlaep
and hat II should not be left 10 emoarras tho operation Of
the Government in any future contingency "hch may re-
oui,e al IL ENERGIES and resources
The e,tmaied receipts Of the second third and i1urth
ouarter Of The present fiscal year have been pedicae on
the present high price OF the sreat stapie on soi %
ptatons computed in view ofte large stock OF impQra
tons on hand and the sngency in the Money market both
here and In England and lie effect of the short crop there
The estimated receipts for the fiscal year 1884 DO not
reach the actual receipts of the fiscal year s although
the fret quarter OF 1884 exceeds the corresponding qao
OF the year 1853 by S502529I 20.
The estimated receipts for the fiscal year ending June So
1853 have not the results of the rst quarter to Verh
them nor The unquesOued data OF GOOD crops and hn
fico but the estimate rests upon an average o. precei
mo vears with an estimated increase Poporon1e 10 an
irasrg populGii0n and capacity 10 purchase AMI pay
calculated without regard to the chances OF war sh,r
crops commercial embarrassment or reuu uoh Oh INC
iar{G
he
have been es6797s67 end the exports have been ~
l5gs5O fair estimate for profits on orr exports and the
ebt of orr would cast tho balance Of this account
in our favor without estimating the money brought IN ~
s,rerarfe of which no account is taken II Is believed
tl large stock Of imported merchande remains IN the
hands Of the merchants and FIR thai reason ead D2can.e
Of the strnccncy IN money market bOt mere ali IN
England It il calculaed that there VIII BE- during the re
uaiuirc three quarters OF the year. dnahsl 4hpofla
tior. oclnrsred with that Of the drst quarter.
The stnnte for the fiscal year 1855 has not been made
to eyced that of 1883 for the that is believed
TIM TIE causes of diminished mporatos during TIE ate
81 ~ III -cal wear sJl will be extended into part OF
ihe succeeding fiscal year aud because n' asA.on u
reduction OF the tariff viii have nlency 10 Peseh IN
,ctgtious LevOud III actual mund TOR consumption
Most articles Of manufactured merchaiise' nAe 'ne
annual productions Of agriculture are 1eIessa..I, coh
snned within the year and again restored BY productive
Industry for the succeeding year; ana WIN P'puiiH'n
allie to tay there is great uniformity IN me anu Al
amount OF imports and exports iht are oieh eau'ss
however which prevent a reguAr ana PFOstessN. 'u
r.sse r,h as sLort crops. low prices for exports eher
nf homo orabroad without the disturbing iaHnence OF war
SIM II is believed that the receipts OF the hscai year
viii be sufficient to the expenditure Of the year ana
re,sonnbe purchase Of the public debt and Justify re
dncon of tic duties by adding to me ifee hst ana re-
drcnc the tax upon many other articles oil inP9rtatoh
Ih. table H. accompanying tbs report eANy7 u.o -
,r;ies imported free Of duty and thei value for The
az years from s5 10 1888, inclusive ana also '"e 'los
article imported paying duty with Their Vailo ana E3e u
duty foy tie same time. ,....... 900.
,,fs list N the foreign articles, which hereby proposed
shan be added the free LIST for the purpose Oh reu.cs
the revenue The revenue collected iI"m slS as'. -
table l. for the last year is about ssuocgy1 IN Wei
sroornt II NAV be computed the revenue VIII be reduced
Nv The odouticn OF the proposed additional free list
Ills viii leave the revenue larger than proper ana
rr;oI sin,ini.tra on Of the Government VIII req lire
and Tor tie purpose OF further reduction u no" pro
rored 10 arrange the articles paying duty N two
he one class attained IN Che taois n, ION ,i ~
lCe rer cent and the other class TO pay the molef1e
dny Of - per cent and - include al m 1rlsd a