The Richmond palladium. [volume] (Richmond, Ind.) 1855-1875, 1858-12-16

GEtIe.. IN cases 70 4iiE t4S-S Cs.Ei pu-
perly applied. They well adapted 10 eommo-
disies which are usually sold by weight or by
measure, and which, from their nature, are OF
equal or Of nearly equal value Such, for example,
are the articles of iron OF different classes. raw
sugar. and foreign wines and spirits
In my deliberate judgment specific du
ties are the best, if not the only means Of
securing the revenue against false and fraud
uIent invoices. and such has been the prac-
tice adopted for this purpose by other com
mercial nations. Besides. specific duties
would atror.i to the American manufacturer
the inciica advantages to which be is
fairly entitled under revenue tariff.
The present system i 4 s.iling scale to
his Disadvantages Uadcr r. when prices
are high AMI business prosperous. the da-
ties rise in amount when ha least requires
their all. On the contrary, when prices
fall, and be IS struggling against adversely,
the duties are diminished the same pro
portion. greatly to his inlarv.
Neither would there lie danger that a
higher rated duty than shat intended by
Congress could be levied in the form of
specific duties. Il would be easy to ascer-
tain the average value OF any imported ar
ticle for a series Of years and instead Of
sub;ecting II to an advalorca duty at GER
tain rate per centum, to substitute in its
place an equivalent specific duty.
By such an arrangement the consumer
would not be injured Ii is true he might
have 10 pay little more duty a given
article in Que year but if 80, he would pay
a little less in another, and in a series of
years these would counterbalance each other
ani amount to the same thing, so far as his
interest is concerned This inconvenience
would be trifing, when contrasted with the
additional security thus afforded against
frauds upon the revenue, in which every
consumer Is directly interested.
| have thrown out these suggestions as
the fruit Of my own observation, to which
Congress in their better judgment, will give
such weight as they may Justly deserve
The report of the Seer, tlry of the Treas
ury will explain in detail The operations of
that department The receipts into the
Treasury from all sources, during the fiscal
year ending Seth June, 1853, including the
treasury notes authorized by the act OF De-
cember % 1858, were seventy million two
hundred and seventy three thousand eight
hundred and sixty-ninc dollars and fifty
nine cents, (s70, ,213, 500 so which amount
with the balance of seventeen million seven
hundred and ten thousand one hundred and
fourteen dollars and twenty-seven cents,
lsI7.7fD, 114 .57, rerainiue IN the treasury
at the conImencement of the year, made an
aggregate toi8 the service of the year of
eigLty-seycn million nine hundred and
eighty three thousand niue hundred and
three dollars and eighty-six cents, (So7 963,-
903 86)
The public expenditures during the fiscal
year ending June 30, 1888, amounted to
sSl. 5S5, 667 &c, Of which S9GS4.5 .537 80
were applied to the payment of TIE public
debt and the redemption Of treasury notes
with the interest thereon, leaving IN the
treasury, on July /, 1S5S. being the com
mencemeut Of the present fiscal year, So
39S. .316 10.
The receipts into -hc treasury during the
first quarter of the present fiscal year. CEN
mencing July l. 1858 including oae half
ot the loan cf tNciiy millions OF dollars,
with tie premium upon it. authorized hy the
act OF 18th June, ISIS, we're twenty five
millions two hundred and thirty tEol;sand
eight hundred and seventy nine dollars and
forty six cents, LS25, ,-3a.o19 80 aud the
estnatea receipts for the remaining three
quarters t. the 3O:h OF june, 1oJ9, fIom
ordinary sources. are Thirty eight million
five huudfed thousand dollars (S3e, ,3@G,>
Uo0.) making. with tile balance before stated
an aggrc- te Of seventy million one hundred
and twenty nine thousand enc hundred and
ninety FIVE dollars and thirty-six cents
tS7012a. .IJ5 So
Tie expenditures during the first quar-
te- Of the present fiscal year, We're twenty
one million seven hundred aud eight thou
sand one hundred ard ninety dollars
and ittv~oac cents. lS2le0S.I9 al Of
which 81 u10142 81 were applied to the pay
ment OF the public debt aud the REDEEM ption
Of the treasury notes and the interest there
on.
The estimated expenditures during tie
remaining three quarters . 30th June, 1899,
are s52 80. 698 #, making an aggregate of
s74 065, ,896 80, bcingan excess OF expendi-
ture, beyond the estimated receipts into the
treasury, from ordinary sources, during the
fiscal year TO the 30th June, 1859, of So
$50. 901 AZ
Extraordinary means are placed By law
within the command Of the Secretary Of the
Treasury bv the reissue of Treasury notes
redeemed. and by negotiating the balance Of
tie loan authorized By act of 14th June,
1855, to the extent Of eleven millions Of dol
lars which. If realized during the present
fiscal wear. will leave balance in the treasu-
~. on the first day OF July. 1859. Of s. ,063,-
2as 81.
The estimate receipts during the next
fiscal wear ending Both June, 1859 are
sixty two millions Of dollars, (62 600, 000,)
which with the above estimated balance Of
seven millions sixty-three thousand two
hundred and ninety eight dollars and fifty
seven cents, 81. .063 POS 81 make an ag-
crerate for the service of the next fiscal year
Of sixty nine million sixty three thousand
two hundred and ninety eight dollars and
fiffv-s en- cents cents (S69. .063 ,29S 81
The estimated expenditures during the next
fiscal year, ending Both june, 1850, are
seyenty-three millions one hundred and
thirty nine thousand one hundred and forty
seven dollars and forty six cents (13.I39.-
III 46.1 which leave deficit of estimated
means, omparei with the estimated expen-
iitures for that year, CON mencing on the 1st
Of July, 1889, Of four millions and seventy
FIVE thousand eight hundred and forty eight
dollars and eighty- nine cents. - 015. .04S