Lynchburg daily Virginian. [volume] (Lynchburg [Va.]) 1852-1861, 1856-12-08

tpc HehsHry on tHe sum OF June,
isos 1881 so
The public debt, on the ith of Mnrch 1853 a
mounted 10 the sum of 500. 1919 937 81, and was
subsequently, increased to liquidaie tho debt of
Texas, by the sum a2,75O, 900. which gives the
public debt at S7l,s799H.27. /, has since heen
reduced up TO the 18th day of November. 1856.
the date oi The Register last report. to the sum
of $50 963, 900 Ga
In milking this reduction, the sum of $40 9I6
r.6 63 has been paid for the principal thereof.
and y ,s52 81. for premium portions of it
redeemed, before the maturity, Swing tho sum
of ~ l6O5,iil. 30, by paying in advance und lea.
wing the public debit on the 18th day of Novem.
ber ls56. $50 96 1909 81.
In addition to tho public debt, as above stated.
there Is due under treaties with various Indian
tribe, payable on time, the sum Of S2l O66, SOL
10. his debt. Ms 1t bocomes payable. constitutes
nh Item OF annual expenditure, and is estimated
Tor, by the Interior Department Ii is nn incident
growing out of the extinction If the Indian
posressory title 10 the public lands. and is
- charge ON tho annual sales. Besides this debt,
the United States have invested money in stocks
for several of the tribes to the amount OF S3,5Il.
'2l.oe and bold the principal Of the Smithsonian
fund, amounting 10 SJ15,l69 under the act of the
9TH July, 1898, in stu,ks for TINT institution. The
United States having made these investments for
the Indians, and of the Smithsonian fund.- annu-
interest Is or Is not received on the stocks. The
nlrrarages of the interes, appear. in the tables to
the amount OF Sl2O7l ~ on the stocks held for
the Indians. aud Si37 73l % on thu stocks of the
Smithsonian fund.
The estimated receipts for the fiscal year
1856 with the actual receipts of the fist quarter,
md the balance in the treasury the 1T Of Ju.
", 1850 were $50, S50,7 lO27. ind the act nj re-
o"ipts with the same addition S92 $50. AZ. he
ing nn excess over the estimates of $500, iD7.-
90.
The customs. actual aud estimated were $50
0s5,23s -. and the receipts aGiO22 s63 80.
The lands actual and estimated, were 5000
600. mud the receipts 9l7,Oii93.
M.cellaneC us. actual and estimated, were
&S33, i95 d, aud the receipts 1917, 6E}03.
The estimated expenditures for the fiscal year
lSd6 were - 226 ZIG 81, aid tho actual expen,
dturo, ls,7o2 o.. being Si.72i 0i5ll, in
excess the estimates.
The sum OF 800 81 was expended du
ring TIN yrar in payment of Interest. premium
aud redemption of the public debt, making the
expenditure upon ah other objects S602l2 iOi,-
81; the estimated expenditure for interest. pre-
mum aud redemption of the public debt being
$1,000, 0o97I, md the payments So 1890,
81 more thnn the estimate, making the expep-
dtures upon other subjects less than estimated
Tho sneretarv makes important sugges TONS
anl recommendations, of which we sub JOIN those
! OF intercat
For the fiscal year ending June 30, 1856, the
domestic and foreign merchandise exported II
mounted 10 500 9Gl olS, aud the imports, Tor
the Same time. to S3l $50 9i2 making the cx-
ports rl2,25, O66 in excess of the imports The
continued increase. of our population, and "i I'M
ports and exports, with that of our agricusiGrat
manufacturing and mining wealth, and our facn
tiles for internal and external commerce, rs ex-
hibted by the combined tables of this report. en-
courage me, again, 10 recommend modhcation
of the tariff Of 1916 and reduction of the revon-
| ne from customs. 1t is assumed as II fact hey
ond question, that a tariff on mportsis a tax,and
| that the tax is paid by the consumer of the i'm
ports, and that it is undenable that no tax should
! be imposed continued not required for an g.
economical administration of the government, al
! lowing for the fulhlment of all its duties, pres
| ent and prospective; and that the collection of
| greater revenue is a wrong against. the people
| who pay the tax, and imparts to the agents who
| administer the government IA tendency to undue
! power, waste, and extravaganza.
In the modification have heretofore suggest
| ed, the propriety Of increasing our tree list by
admitting the material used in our manufac-
lures to free entry. md thereby giving to the
capital and labor of our people equal competition
! with the capitol and labor of those countries
which have, for the benefit of their manufactures,
| admitted the raw material. without duty. and have
recommended the same articles to be admitted
4 FREQ by Great Britain. This would reduce the
1 revenue between $7.O00,0O0 and $S,00O,000.
! have also suggested that some articles OF
| general consumption such as salt. should be
added to the free list. and tho tariff on some other
! imports should be reduced some ~ 900. 900 or
! SS,00O000.
! This, upon the imports of last year. would re
! duco the revenue to about $50 900 900 which,
| with the receipts from the public lands. is deem
1 ed all sufficient for the necessary requirements
1 Of thu goyernnent--the average expenditures of
! the last five years. excluding the public deb, and
| tho Sl0,OO0,0OO paid under the treaty with Mex
| leo. having but little exceeded $4S,0000O0.
a reference to the table If production taken
| from the census If 1850. will show that agri
! cultural and manufacturing production in that
year, amounted TO 81 COG, 1873 500; and refer
enco to the like tables of production. taken from
| the census Of 1890 will show the agricultural and
| manufacturing prediction, for that year, TO have
! been s.. 0I2 52O, $50 and the ratio of increase.
| for the five succeeding years. gives S2,6o236},-
! 92i the value for the year 1855. Suppose ST.
600 0oO. 900 to be consumed at the places of pro
| ducuon, and there is left : COZ 363,924 of pro
! dueiion, the basis of our foreign and internal
| trade, and the source from which wa derive pro-
| htnble employment for our registered and licens
ed tonnage and our railroads. Take fifteen per
cent ot this for our foreign trade. which is about
equal to oar exports, and there is left 81 $500
'E5o for our internal trade. constituting the
| meroial ligament. that binds us together, as one
| nation and one people