Burlington free press. [volume] (Burlington, Vt.) 1827-1865, 1853-12-30
Report of the Secretary of the Treasury

The following summary of the lengthy re-
port of the Secretary of the Treasury i. from
the Boston Mus.
The estimated receipts for the fiscal wear
ending june Both. 1853, ar" 500 .932 ~ 81
against the estimated expenditures of $50. =
900, o5G So, leaving balance of s.i.372.0 7q
81 to exist after applying a., l99,447 - to
the public debt, while the actual receipts for
the same period were sol 81 ,574 10, to
which add balance in the treasury July |
1872, making total sum for the service OF
the fiscal year ending june 30. 1888. of S15.
9o9'I 10 q, and the actual expenditures were
sd .026,SlS 81 There was, therefore. a
balance in the treasury July !, 1888 of S2l. :
942.S92 So.
Premium on the same, S420 ,49S GA since
which time, and up to Sd December, 1853
49, %. " S''''''''-
The imports of the fiscal year 1868, inclu-
ding specie, have been S2G7 ,91S, G47 and the
exports have been $3.50, 452 $50. \ fair csti-
mate Tor profits on our exports and the freight
OF our vessels, would bring this account in
our favor.
1t Is believed that the receipts of the fiscal
year 1879 will he sufficient to meet the ex-
rendlturcs of the year, and reasonable pur-
chase Of the public debt, and Justify a rcduc-
ton OF the duties, by adding to the free list
and reducing the tax upon many other ar
tlcles OF importation. The list Particles now
subject to duty, which the Secretary of the
Treasury proposes to add to the free list is en-
braced under about 40 heads These articles
produced last year revenue to the amount
of s. ,22l 600, They include nearly all those
which are taxed at and 10 per cent. and all
those at 10 per cent Among the largest
items proposed to be repealed, are the duty on
linens, the amount of which last year was
81 100 600; that on wines, amounting to
SS45.OdO; on tin, amounting to sos 900
ON steal :>i21 900 on salt, S2lO 900, and on
books, $l44 900.
The 100 Per cent. duty list remains un-
changed, consisting chiefly of brandy and cor
dlals. Oi the duties proposed to be reduced
to - Yer cent. S24 .2S 900 consists of those
now ut the rate Of 20 per cent and 50. LAB. :
Uoo at ~ per cent. The amount of reduction
on these two classes being -. 6S3 900. and
the total reduction being 81 ,324 $50. Thi.
viii leave an estimated remaining revenue U
G,0i2 Us.
1t is not proposed to reduce the duties to q
point below 80 900 900 from customs unit
the public debt is paid The change now
proposed in the rate of duty is designed t.
take effect from and after the LIST january
1850.
The Secretary proposes specific in Ilac,
OF an ad yalorcm duty on iron.
The table of tonnage shows that our ton
nag" is now 4,i01 ,02O tons, and exceeds tina
OF any preceding year by 26S 900 tons.
= The table exhibiting the operations of til,
mint shows the entire coinage t. 3lSt of De
tohcr last to have been 1870 ,00S 1872 30; tn
all cain . L., Ia. -
October of the year 1913. to have hcen $40.
99S ,945 GO, and the silver coinage 80 900.
225, and proves an active and growing ,l,,
mand for gold and silver as ii currency fo
actual use while the imports of gold an,
silver, including what is brought to the At
lantlc from California, without cstimatin,
Tor that brought in by emigrants. comlmr"
with the exports of gold and silver, prove that
WITHIN Tour years, the large amount Of : l3j,
9l2,o9H - has been added to the gold am
silver coin remaining III the country. Shout
this Increase continue for bat short term q
years, this country will he able to dispcns
with banks Of issue, and their attendant evil,
and have the gold and silver currency contcn
, plated by the constitution.
1t Is thought that II coinage Of an ALLOW r.
= scmhing German silver may hc beneficial
substituted for the copper, and experiment
10 that emu nave bcon directed.
c The branch mint at San Francisco has bee
d contracted for, to be furnished and ready f,
q the coinage of $50 600 900 per annum by Il
yartment, There will not have been a year
j. experience, under it's full operation, unit
Il about the LIST June next; but so far it's op
e ration has been highly favorable.
Attention is called to the Louisville AZ
. Portland canal Tho earnings of 1854 vi
p! complete the purchase, and leave the Unit
y States the sole stakeholder and proprietor
"A the canal, and entitled to possession of it
st complying with the condition of the act
10 Kentucky, under which the private stock h
IL been purchased,
C. Attention is also called to the $1,000 o.
IN balance Of the $4,000 900, agreed to
d given to Texas, in the settlement of the bou
~ dairy Of New Mexico, and not yet issued, b
y, retained under the proviso to the bounda
D bill, The late administration decided til
at all the stock of Texas mentioned IN that pl
he viso must first be released to thu Unit
"a States before the stock could BIO issued, n
wv the present administration determined not
Oh disturb that decision. The consequence
chat the creditors uf Texas rcnaiu unra