The Yazoo City weekly Whig. (Yazoo City, Miss.) 18??-1855, 1854-12-29
YAZOO CITY
FRIDAY. pEoEMBER q, So
REPORT OF THE SECRETARY OF THE
TREASURY.
REPnRT

4AsA14AA2 -
The report opens With statement Of tie re-
CENTS and expenditures Of the past year. The es-
tirtlated receipts Cor the fiscal year ending June
Sc, 1856, arc put down at, including the balances
in the treasury on the lst July, 1854, $66,266,-
404 81, and the estimated expenditures at SOL
060,277 IL.
The amount Of the public debt outstanding on
the LIST Of July, 1853, was SCI, 34O,628 Y. On
the 1st day Of July, 1854, it was SAG, 10000 O5
thus showing reduction IN the public debt Of
$50. l6O122 70.
The receipts for the fiscal year ending June g,
1856, are estimated at S62.500,000. and the ex-
penditures at $60,869,s33 81, The balance ID
the Treasury on the 1st Of July, 1856, is estinlat-
ed at s2l ,s92, 2l2.
The Secretary says that Tie large importations
during the last three quarters Of the past year
were kept up by heavy exports Of provisions,
caused by the scarcity il England and Francei
but he anticipates falling of q the customs q
consequence Of the reciprocity treaty and short
crops. Under the reciprocity treaty, aTlieIss now
paying 4 duty Of 81 are made free.
During the past year the tonnage Of the country
shows al increase 81 so tens.
The import a he year show an excess Of S26,-
82 s. Over exports; but this excess the secre-
thinks apparent, not real, as the profits on
oa s. and the freights earned BIZ our ships
SIS lgn trade, ought more than cover this ex-
cess. In the exports, i should be recolleeted,
over 100000 in specie are included
The satisfactory condition Of the revenue, a
cennexion with our rapidly increasing commerce.,
sre used as arguments for further reduction in
the tariff The Secretary objects to the eight
schedules, or different rates Of duties under the
present tariff, as collections are attended with
great difficulties. The bin, he says, prepared at
the Treasury Department last year, and submitted
by the minority Of the Committee of Ways and
Means Of the House Of Representatives, contain
ed but two rates of duty the first Of 1901 per cent
and the second of % per cent He Is Of opinion
that no more money should be collected than is
required for the economical administration Of the
IGovernment. An addition to the free list Is re-
commended
Under the act Of 1853, over fifteen millions o.
silver had been coined and circulated in Philadel-
phia, New York, Boston, Washington, Detroit
Chicago, Richmond, Norfolk, Charleston, Sayan-
nah, New Orleans, st. Louis Cincinnati, Pitts
burg and San Francisco,and furnished to citizens
at various other points. It is believed that the
full benefit Of silver coinage for change can never
be realized while small bank notes are encouraged
land made current By the patronage Of the com
munity
4 The total amount of gold and silver coin in cir
EQUATION Oh the LIST Of October last is estimated
lat $24l 600, 0oO, against which there is a tota
bank note circulation Of S2O4,6s9,2 08. In 1856
there we're $40 banks in the country, with CAPT
tai Of $227, 8O7,5S3, and in 1854 this number hai
been increased to ], 2Os, with capital Of 1901,
I756,o7l.
In regard to the workings Of the Independent
Treasury, the Secretary says that the receiving
and paying for the last fiscal year, more than sey
enty-ive millions in the current coin, it has KEEP
up the demand for the precious metals and Ia
prevented the large bank circulation from obtair
inc the mastery and driving the constitutionalc
rency from the country. The heavy export {
specie during tho past year IS in part aecounte
for by the large redemption Of the public del
held abroad,
5 The Secretary IS Of opinion that the preseT
pressure II the money market IS not owing to Z
specie DRAIN but to heavy importations the iailul
Of So many banks. and the curtaiInent Of The q
culation and discounts Of others, which, ID Il
!. last six months. have reached the enormous sui
Of nearly fifty millions
The continuance Of the coast survey and 4
Lighthouse board IS recommended. Further ..
is asked for protecting human life from shipuree
on the coast and the report suggests whether Il
& law should not provide greater security IN 4
ID construction Of steam passenger vessels, On to lea
n them, IS now to the ship-owners. From the !
: Of January, 1854 to the LIST 81 June, sixty-thr
steam vessels have been lost. AlIusion IS made
the loss Of the emigrant ship New Era Ezpe
nents, be says, are now making for thowing nc
srs more efectually
Iis eary calls for such additional legisl
ton Say be deemed necessary to guard again
faads bg collectors customs.
The remainder 81 report refers principal
% the operation q the United States mint 81
branches IS s IS the ere ioh of the vario
departments 81 tie
IS
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