The daily dispatch. [volume] (Richmond [Va.]) 1850-1884, 1857-12-10
COLLABORATION.
THURsrAx MoRHINu e...... DnUnMBER 70. 1885,
sYMopsts ~ the Rewrrs - the score
teRy u the Treasury.

THURsnAH MORNING. e.... .Dn0aMBER 10. 1885,
synepsss ~ sNe ReWrrs or the Score
tssy q the Trsasury.
fSs Dahae. 10 Tue {. 5. Treasury on the LIST Of
Y Ssas isSl YVES siS, s6i sssss. Tho receipts ia,o
the treasury during the nscal year 1857 were sos
she ssrviee q the sssi year ending june 30, isss
- wcfs IS, 632s S3l2 The expenditures daring tbs
teal yser ending June So 1851 were $1o.sz2,sal
= which xAa applied as follows Civil foreign In
tefcoufss and miscellaneous 81 ,53i ,ezzs servsee
II caGae Of the Interior Department, S5,Ss.ys4-
service in charge OF the War Department.. sls
2sI, l6 service 10 charge OF the Navy Depart
aent, $685. purchase OF public aeet. psan.
. cipxi, prenl!am aud Interest, s5.oa3 Ss8al ba
Lance vas iet In the treasury on the lat Jaiy, 81,
I OF 4l7,sio,Il4oT.
Daring the asst quarter of the current fiscal
year tue receipts into the treasury were $0szs,-
Si3Si The estimated receipts during the remain
lux three quarters are ,s,1oo,ooo. Making AN es-
tnsssd agsrsgs,s ier the service o. the earrsp ~
,sysas OF SASS, eSioS- Tho expenditures OF the
K Grst quarter VI the current fiscal year were sss
81 IL s2sSs aud the estimated expenditures curing
= tie remaining three quarters are $si,24s,eao4
lie wing estimated balance ia the treasury July
], 1895, which Will OF course be affected ~ ANY
= reduction or increase OF expe ditufe nts scoi-
:, touspiatcd, OF f4Io.ss5!o1
Inc estimated aggregate OF the msaas TOR the
ssrvce Of the seai year 70 June 81, 1859. SIS
o2ds76 81; and the aggregate estimated expsndi
q turss x5s06sSS 81, leaving IN estimated balance
IN ID. treasury, July !, 1883, Of ei.ss2lia 10.
sapes the rrobabls rscsipu into the treasury for
. Shs next ers or two yeasa, tbs secretary says,
~bsn tbs estimates for the present nscai year
ssrs msda % tss lest censrsss BY my predecessor.
shauss ~ tbs rssse Of duty, which we're among its
- tsss sets, ~ the rfeseht ssvaison In trade and
ecsdtusFcs both vhish havp deeply affected the rss
venue, and satisfactorily ior the differences
between his estimates aud those huw submitted -
Wtrh or disss tua rats a.
ID very difficult ts form satisfactory estimates of
the probable receipts from Customs. The tariff act
Of March !, 1857, has not been in operation long
enough 20 test its effects upoa the revenue even
under Ordinary circumstances Simultaneous
with this act going into operation, the country il
sal.jerted TO q DISASTROUS revulsion. To what ex-
teut importatlons would have been affected by it,,
had there been no rtvulsicn in trade aud com.
meree, 10 now AZ much matter # conjecture as il
VS. before the passage Of the act. Experience has
+ thrown no light on the subject. The probability
Ar - that i woaid to q intef extent have increased
importations. thoagh not to the exten, of supply.
lag The defeiency created by the reduction OF the
duties" 50
The report then gives detailed statement a
facts and principles upon hieh ihe % have
bseu uisds, in order that Congress may pass it's
own Judgment upon the credit 10 which they are
entitled. The receipts from customs for the next
"a sal year, from July |, 1855, to June 3D. 1859, az
s2ys,) will depend in great measure Don the ex
tent to which commercial and monetary transsc.
- tons shalt lave returned to their ordinary chan.
nes. IL IL probable that the immediate effect of
the present Revision trade will ha We rassed Inv
q that time. and that the usual amount of dutiable
II mefchandise will be required for consumption
Il his estimate submitted is based on the amount of
81 three hundred and seventy millions of dutjabl.
merchandise, being the amount assumed for the
present fiscal Year with the usual increase and
without any Detection the effects of the present
resuislon. Upoa lis amount the customs under
iheact Of Isao with the deductoE for the effect Of
- the tariff OF 3D. March last, wond produce about
.sixty-nine and one-nalf millions Of dollars
- The efficiency Of the public service, as well on
the security ofthe public credit, requires that the
treasury department shall be provided with means
: 70 meet lawful demands without delay A failure
Of sufhcient means In the treasury may occur nj
IA eatly day; but the oxigency being regarded a,
only temporary the mode of providing for it should
= De vi temporary character. Tue secretary there
fore recoaimeuds that authority be given To the
department TO issue treasury notes for an amount
!. not 10 exceed twenty millions of dollars PAYABLE
wuhin limited time, and Carrying a specified
date VI interest, whenever the immediate Demands
OF the public service may cali FIR greater amount
of money than shall happen to be ia the treasury
subject TO the treasurer drafts in ment of war
rants.
The report recommends legislation to defrav the
expenses ofcollectng the customs, To operate from
- Tue 1si OF January, 1858, which will put an end
from taat date 70 The permanent appropriation ap
( proved l4th february, 1885, For tn. fiscal year
ending the ooth june 1851 the expenses OF collect
y lag the customs considerably exceed ed three mil
Hons VI dollars exclusive of those of the ports on
halt
ye million For the half Of the current fiscal wear
: extending from LIST January to 3Oth June 1888 AT
least one million six hundred thou and dollars will
sDe requ red to defray these expenses in the Allan
tic States, aud the Secretary recommends that sum
Z tote appropriated for that period
> IL 10 also proposed that during the remainder of
the current fiscal year, the expenses of custo,o
houses on the Pacific coast be defraye ed as hereto
ss1Ore, our of the aceruing revenue; but from the
OF the fiscal year on the Ist nIv
e lsos that provision be made by law that the
whole receipts from customs aid all other sources
. on the Pacific coast be paid into the treasury nm
der the act OF lS49 and the expenses Of collection
pc betrayed out VI appropriations for that purpose
h To meet the expenses of collecting the customs
n throughout the entire United states during the
? fiscal year endneSuth June, 1859, will probably
= require 81, 00VUUU.
The report proceeds to show the causes of the
Progressive Increase Of these expenses, from year
u year, siace the Passage of the act OF lS4g Nh.
adoption OF projects by Congress, when the reye-
nue. happens TO be abundant, such as the building
new revenue cutters, not needed for the EN-.
f,rcement OF the revenue laws the multiplication
OF ports Ut entry aud delivery for local and teinp
rary commences, at points not required for the col
lection vi the revenue, aqd the erection Of expen.
sye tuildinss for officers OF the customs and other
pubic olneers; are among the prominent causes.
The pubic debt on the LIST July, 1857 was 500
ooo,3S69J Since that time there has been i,aid
n the sum Of 81 se5 2-39-leaving the public debt
~ thls tine ga lb5.l545l Since the Sd of March
S77.53. ri 81.
iae report alludes at length to the revulsion in
ths monetary affairs OF the country. While the |
estimates OF receipts into the treasury for the pre-
lit cal year exhibit the fact that the INCOME OF
tue government will be considerably reduced il il
seriously Urged by many person. that our exp eD-
dltatss shond be increaser for the purpose of af
lsrding relief 10 the Country. such a pIi ~ wopld
Doubtless furnish employment to large numbers of
worthy citizens. Ii would require the use of Iary.
AMOUNTS OF money, to be raised either by Inau or
tne issuing OF treasury notes, and would thus :
re- Af IN tl.
limited only by the discretion of the government,
~ lhs Unauthorized use Of the public treasure and
credit. But the Constitution gives 40 power 10 do
'uis. Inc aiscohtinuance OF public works ALREADY
commenced u not Contemplated; but others NOT |
commenced, will be Temporarily postponed and
thus government will be enabled to realize its |
means ia advance Of its expenditure of them and
ptrhe o VOID the necessity OF iDcrea,;n n ant, |
tic debt. Ii Is proposed to conduct the financial,
department. of the government, in the present
crisis dion principles OF economy regardful alike
Tue just cianis vi tue people and the protection
oi Tue treasure aud credit OF the government
Il ihs proposition to return to the protective svs
TEN u regarded by the secretary as obnoxious 10 |
hii thr Jestons watch have heretofore boz urc,
ssainat ~ Ths subject is considered at I.ua1h |
win The following conclusion |
he) octihg the proposition TO raise the tariff as a
measure OF relief aud looking to the probable rt-
csipts aud expenditures for the present aud next
Years 10 Change Is recommended in the act of
March 8, 1901. az this time. The present tariff in
not regarded ~ perfect; far from it. 1t has how.
ever, been In operation less than xix months
lehgtt OF time too short TO judge OF its WORKINGS
even under the most favorable circunistapces-l
has TACT in coanexiou with the revulsion i'm bpsi
lees, makes it wholly impracticable q, form cor
rect Judgment upon Its merits Thei . are chang Il
which should be made as il can be d5ne
with propriety. A return to the decin.ei diyfiaau
10 the rates Of Duties more Il oclass acstiou
OF various articles, aud other sGfsSns: he wonid
greatly improve the law, even If il shonis hs
found by experience unnecessary 10 make any rad.
Teal change IN its general provisions. The propri
ETY. vi postponihg any actien ueoD the sobi.ct nm.