The weekly Portage sentinel. [volume] (Ravenna, Ohio) 1854-1861, 1854-12-20
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Report Of the Secretary OF the
Treasury.
From the Report Of the Secretary Of. the
Treasury submitted TO Congress with the
PRESIDENTS Message, we learn that thei ar-
tual receipts intorthe, TFesury,4 from aAsdoF-
ces, for the fiscal year ending June, 30, 1854,
were 73,549, ,705,20; balance in the Treas
ury lst Of July, 1853, $21,942, ,Se2, SO; max
ing total sum for the service Of theiiSear
Of $95, ,492 ,597,76. The actual oexPesdi-
lures for the said year were $75,354, ,630,26;
leaving a balance in. the Treasury on the
lst'of July, 1854, of S20, 1877 987, so. The
receipts from all sources for the first quarter
Of the fiscal year ending September 3oth,
1854, were $2l,52l ,SO2,85. The total ex-
penditures for the same period were l6,-
1863 9,330,62.. The receipts for the remain
ing three7qaarters Of the year were estima-
ted at S42, 10000 90 making with the re-
ceipts of the first quarter, and the balance
in the Treasury on the lst Of, July, 1854, a
total Sum Of $S4, ,lo7 ,967,5o for the service
of the fiscal year ending June &c 1859
The expenditures for the remaining three
quarters are $64,345,92h2l, leaving an es-
timated balance in the Treasury on the lst
Of july 1855, OF $I9,762, ,O46,29. '', - "
The amount Of t;ie public debt outstan.i- '''t''
ing on the LIST Of July, ls53ywas,y s67,34o6ss 7s
Ard on the Isl day Of July, 1854 47,lsO,5C6 C3
''o' Being reduction Of ''' ! s2Ol0O;1e2 IS
- Onthe public debt redeemed between the
1srof July, 1868, andthe lst of July, 1854,
the interest and premium paid, was S3;346,-
546,33; and the principal, interest and pre-.
MUM no on the part of the public debt redeem
ed between the lst Of July, 1854, and the
Goth Of November, 1854, was So GOA ,203
5l.abgY, rnT -a.m JnG ' eaGl aG6 ,lE-l
The estimated receipts for the fiscal year
ending June, 80, 1885,. are $50 100000,
making with the estimated balance in the
treasury July lst, 1855, $S2 1859 ,946 80, for
the service of the fiscal year 1856. a72'i'a27
Estimated expenditures for the fiscal year
~; agllyg ll 7,adt bga .rnir7h 77l b9da
Balance Of former appropriations to 20 ~. ~
Permanent and indefinite appropriations ! LIN.
to be expended this year 7,93f,4l1 &c
Appropriations asked for, and to be cx- & .-..-b
penced this year $41,722Sl6 Al
| .'. SEQ. s33 81
leaving tha sum Of $21 ,S62.2l2 80 on the
lst of July, 1856. .a.Oh h.'. - l'4s"! aiA 1ol
,s Upon the estimate Of the receipts and rex-
penditures Of the fisaal year 1856, there will
be balance in the treasury on the lsts Of
July, 1856, Of 50 l.392,2l2 90 without spend
ing any thing in the redemption Of the pub
lie debt: $l2, 1000 900 shall be applied to the
redemption Of the public debt, which being
done, there will remain an estimated balance
in the treasury Of $9,392,2l2 90. -,
The report refers to the Causpswhich have
contributed to swell the receipts from Gus
toms and lands, during the past year, not,
withstanding the pressure in the money mar
ket. They were kept up from importations
growing out of large exports Of provisions,
caused.by the scarcity in England and France,
and the expected demands of the European
war, and by the shipments to this country
of foreign manufactures, who, owing to the
want Of remuneratng prices in those coun.
tries, sought the benefit of ours. g y "a
, They were also kept up by q. greater uni-
forrnity and better valuation of foreign goods,
and dimnuton in smuggling, caused by
increased vigilance on the part Of the reve-
nueioficers. The foreign and Internal imE
migration to the new States and Territories,
combined with speculative investments IN
the public lands, greatly Increased the re-
ceipts from that source: So that. instead OF
a reduced revenue, as anticipated, there
cepts have been greater than in any previ-
Gus year; aided, to some extent, by the Nef!
feet Of the act graduating the price, which
operated in favor Of the receipts of the Hat
ter half of the quarter. q..o,.,,,,e g., .,,;s
The receipts from customs for the three
remaining quarters Of the y'ar cannot be in
proportonto to those Of the first quarter, ow-
ing to the Reciprocity treaty, introducing
free trade with the British colonies, and the
short crops in almost all portions of the
country, which must materially affect the
expectation Of provisions, and the return
importatidns, and diminish the ability TO
purchase and pay for foreign goods. ,uel5lR
Moreover, the United States have enjoyed
a long period of agricultural, manufacturing,
and commercial! prosperity under extended
bank and other credit facilities backed by
the immense production, oil gold from the
mines Of Calfornia.t This has led to large
speculative investments in railroads, lands,
lots, houses, ships, stocks, and other enter
prises. and to enhance prices for rents, Ia
Dor, provisions, and all the necessaries OF
life. ,The hank and credit facilities, have
been ii check for more than year, with q
prospect Of d continued cheek; whilst the
large and extended Indebtedness Of opera
tors has to !, be met under receding' prices,
without the Stimulating effect Of new enter
ptises This Wifi also act il restraint. OF
importations. and consumption. .,'' :nl7
| A table accom- panyihgi the report shows
that the increase Of tonnage engaged in our
coastihg aud foreign trade for the last, year
hasbeen 395 1899 ,20-s5 tohsaa. From he table
of exports and IMPORTS it appears tho i'm
ports are $6,39l,3l7 in excess, Of the ! ex.
ports. no account being taken Of the pre-
cious metals, brought in BY Immigrants. s'9i
The profits in our exports, and the freights
earned BY our ships III foreign trade, ought
more than to cover this excess, The exports
include over $3S,0o0, 900 OF specie and bull
ion exported; but, whilst specie and bullion
are products, of labor in our mines, they
rank with any other product, aud must en-.
Ter into our foreign trade as articles Of com
merce, and can have no 'prejudicial 'eSiec
upon the great interests ofthe country
These tables combined ,ex xhibit the gr 5wtt
OF our commercial marine, Of our exports
and imports, and hereceipts and expendi
tures of our Government aid prove ina,
Ithe receipts into the treasury are sufficient
To meet all reasonable expenditures dis,
1charge the public debt, yand allow a 'redue,
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