Belmont chronicle. [volume] (St. Clairsville, Ohio) 1855-1973, 1858-12-30

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| and with an eszndstness which must have
confoetsd his heart. - IT was thus that ,hil
msEsiaee, of which 70 much has been said
ord written, was brought about. The br,da
fpsrfy srs 10 arrive in PARIS for the purchsss
Ieeths tnussesu, and the fuifIlment of the
ceremony IN she early part of next week. Z
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sts4 OkE1elALs REPORTS.
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.sEha Seeeefasg opens with . statement .ol
do b1lsnessinsfhs sressufy IN ,he firsf., el
Juv. lfo63.xtjoh x.s elzJlo.f44. The
= ssiots ffosss IN ordinssv tsourcess inro "a,
|. 2. - ,..ss.i. sss.i i -. 90 go
y,f, So ,s,.s.s 80 -. -
nings ena enoink saiys $751;. 4sossh. 1000, vary
largely u the succsssiys squaitefs, u fol.
lows: nsa sssgs, "a 81 aess ssisslsss;.
F1rss sussses ,..ss a, : = sso, ,s2s, ,s,ss
ssgo, . - -
szsfoassb q .sG .yassvsss 10 ys sss i5sS 5ss r
tysnsagssss.l 8 - g5.ik -----sai
& ~ 8 a - :vssesss sl6,55i ,5eSs
-sBn fsom extraordinary sources, loans and
treasury notes, thsre. was, ADDED to the re.
ceipts vt the last Two quarters the sum OF
S23, ,7l6.3 800; making The aggregate means
Of the service OF the yeur- ending June 80,
1858, $s7 ;eSs.ss4. Inc expenditures Tor
the same year were nearly uniform for the
different quarters, amounting In the -aggre-
gate to Ssl .6s6,6S7; leaving balance in
the treasury on July lst, OF 10 ,3s5,3i7.
For the current year, 1859, the receipts
for the quarter ending September 30tn,
were Sl4 s56.67S from ordinary sources,
and $40, ,4o5 200 IRON the loan and treasury
notes. The Secretary's estimate Of receipts
for the eremaining three quarters is 33S ,5O0,-
600, which, with the sums abo7e named
makes up an aggregate OF means ior the
current year of $40, ,l29.lS5. cad < "
The expenditures tor tpe trsi quarter Of
the current year-were S2l,7os,l9s, and the
Secretary's estimate for the remaining three
quarters is $52,S57.69s; making a total for
the year ot, s$74 900 o9I; and leaving o
deficit at the end of the year OF 1896, ,7ol.
To meet this deficit there are extraordinary
resourcsAin the loan already authorized of
ten millions of dollars, and one million OF
treasury notes. g If these are used, there
will, it 10 estimated, be balance in the
treasury, July lst. 1893, OF S7,O63.29S. -
The Secretary then estimates for the next
l,lu Nho
toms are expected to yield tfiy-six millions
fo- that year, and other sources, with the
balance above named, 10 make up an aggrs-
gate of S69, ,o65 $685. The expenditures are
placed at twelve and a half millions, nearly,
for ~"balsnee of existing appropriations"
eight and half millions, nearly, for "per-
manent and indefinite appropriations" and
for regular service, $50, 2,5l5; total, 3d.
l39.l47. Deducting the estimated receipts
then, there will be deficit Of Ss,075,s4s;
to which. should be added, Ss,s3S,72S for
deficiency in postal service, not included in
the above; total deficit S7,9l4,57S.
The Secretary remarks that the estimates
of7last year were made un der circumstances
unfavorabe to correct judgment the new
tariff act not having been tried, and a mon.
etsry revulsion existing, but the presen,
estimates are based on the opinion that q
reaction in the business OF the country has
begun, and they are put forth with greater.
confidence. Referring to the heavy decline
Of our imports. and to the smaller falling eff
of exports, 1t is thought, that they exhibit .
considerable payment OF our foreign debt,
and show large margin for increased i'm
portation when the country shall have re-
covered. The increased receipts from
customs of the last two months, as COM
pared With the same months OF last year,
are held to sustain this position. -.-.-.
The expected deficiency in. June, 1860,
tbe4Secss tsry thinks should .not,be met by
a loan. A revision of the tariff of 1857 is
the only remedy, unless Congress shall
change the financial system
The leading principle of tariff, as an ori-
ginal act, shonld be revenue simply, and in
the present revision of this principle should
direct and control the action of Congress.
"It is obvious that this is most effectually
done by taxing, in preference to others,
such articles as are not produced in this
corntry; and among articles produced here
those in which the home product bears the
least proportion to the quantity imported,
are the fittest for taxation" The reason OF
this principle is, that in one case the tax on
imported ARTICLES alone is paid, while the
other, the price of the Like articles made
here is also enhanced. No such tariff has