Vermont phÅ“nix. [volume] (Brattleboro, Vt.) 1834-1955, 1858-12-11
AIT. COMPLETED


specific duties would afford to the American man
uiacturcr tue incidental advantages to which H.
is fairly entitled under n revenue tariff The pre-
sent 81 stem Is sliding scale 10 his DISADVANTAGE
untcr IL, when prices are bigl and business pros
porous, the duties rise in amount when he lcrs
requires thelr aid. On the contrary when price
fall, and he Is struggling A. ainst university tI,
duties are diminished IN the same proportion
greatly TO his Injury. Neither would there b,
danger that higher rate of duty than that in
tended by Congress, could be levied in the form
Of specific duties. 1t would he easy TO nscc,tnir
the average vaiue OF any imported article for O
series OF years; and, instead of suhiectnp il In nm
al valorcm duty mt n certain rate per centum Ia
substitute in It's place an equivalent specific duty
by such an arrange ncnt the consumer will
not injured. tits true, he might have to nay a
little more duty on given article in one wear
but II so, he would pay n little less in nnotber
and in series of years these would countcrbal.
ance each other, and amount to The .n,nc thing.
so Jar US MS interest is concerned. THIS ncon.
veniencc would be trning, when cuntrnstcd 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, 10 which Conprcss in
their better judgment, will give such weigh, as
they may justly deserve.
The report of the secretary of the treasury will
explain in de.ail the operations of that depart.
ipcnt Of the government. The rcceipts into the
treasury from all sources during the fiscal wear
ending Both June, 1850, including the treasury
notes authorized by the act OF December % 1877
were seventy million two hundred and seventy
three thousand eight hundred aad sixtynnc dol.
lars aud hty-nine cents (S70,273,SGJ 5D), which
amount. with the balance of seventeen milan srv
en- hpnured and ten thousand one hundred and
fourteen dollars and twenty sevsn cents 1917 71O
III ~ remaining in the treasury at the com
mencement OF the year, made an auurcgafe for
the service of the year of eightv.seven million
nine hundred and eighty. three thousand nine hun
dred aud eighty-trec dollars and eighty-six cents
1857 ,9Sl .gSJ So
The public expenditures during the fiscal year
ending June 30, 1SJS, amounted to ci,thiy.one
million five hundred aud cighty.fiye Thousand six
hundred and slNtY-seven dollars and seyeufy.six
cents ISL, 80 667 76) of which nine million six
hundred aud eighty four thousand 1--WE hunlred
anu inlrtv-seVen dollars and ninety-uine cents
tsJ,bSl,JJI VI were applied to the PAYMENT of
the public debt, aud the redemption of treasury
notes with the interest thereon, leaving In IN,
treasury on July |, 1885, being the commence.
ment of the present fiscal year, six milton three
hundred ana ninety iiht thousand three hurried
and sixteen dollars aud ten cents (S6, 3gS 3lG 10Y
The receipts iriO the treasury during the fitst
quarter OF the present fiscal year, commen,.inp
the LIST July, iSjS, including one-half OF the 10 an
OF twenty millions OF dolArs, with tn prem nm
upon 1t, authorized lay this act of ith June is &
were twenty-five million Two hundred and thirtv
thousand eight hund c'l aud seventy nine dollars
aud iorty,iN cents, ls25 80 So TO- and the ,sti.
mated receipts for the remaining three quarters
10 the 30th June, 1879 from ordinary source. or,
thiry.el.ht million live hnndred thou AM dol Ar.
ISIS JOOOOOl, making with the balance before
stated, an aggregate Of seventy million one hun.
drcd aud twenty-nlne thousand one hundred and
ninetyH five dollars aud itty-six cents S-n iol
l9j So ''
The expenditures, during the first quarter oc
the present fiscal year, were twenty.onc million
seven huadred and eight thousand one hunJrrJ
am nlne,YelLht dolar' and illty-one cents. (al,-
Jos lsS 81 j of which one million and ten thon-
sand Que hundred aud forty two dollars aud thir.
y-Seven cents. (sl,0l0 Il 81 were applied TO the
payment OF the public debt and the rc,iemItion of
tr ',ury notes aud the interest thereon. The es
MINATED expenditures during the remaining three
quarters TO JUtll June 1872 are fiffy-two MILAN
three hundred and fiity-sevcn thou sand six hun
dred aud ninefyeght dollars and forty-cisht cents
lsJ2,t1I OJs 49,, making an aggregate OF seventy.
iour inllllon siNty-hve thousand eight hundred
and nincty-Six dollars and ninety.nine ccats 1874
UoJ, 80 w, being an excess of expenditure he.
You'd the estinltel receipts int the treasury frnm
ordinary sources, during the fiscal year to the Both
June, 1879, of three million nine hundred and
,ni. y-N'N thousand seven hundred aud ono dollaIs
nary means are placed by law within the com
mand OF the secretary of the ircIsr " by the re-
Issue OF treasury notes redeemed aud l,y ucro-
tiating the balance of the loan authorize bv the
act OF lith June, ISIS, 10 the extent Of eleven mil
lions OF dollars which, it realized durn the pres
ent fiscal year, will leave Diliuce in III, trcasu
y y
slNiy-threc thousand two hundrel and ninety
eight dollars aud fifty.,eycn cents (S70jl2Is 81
Inc estimated receipts durins the next fiscal
year cnlin; 2sth June, 1850. are siNtr-two mil.
Ions o! dollars 1852 1000, 900. which, with the
above c,.im tel bllinr' of seven milon sixty
three thousand iva hundred aud nineiy.cight dol
lars and flty-Scven cents s.. dG}. 2aS 81 make
an aggregate for the service OF the next fiscal
year of siNtt-nine million siNty-tl zee thousand
two hundred and ninefv eight dollars and inv
: a. n II I'M
penditnrcs during the next fiscal year, ending
JO'h June, 1879. are scventy-thrcc mil ON one
hundred aud thirty nine thousand one hundred
anl iorty-seVen dollars and fory-Six cents (S79,-
l3J, II ~, watch leave "A deficit of estimated
means, compared with the cstim ited penditurcs
for that year, comm ,ncing on the 1T of July.
1879, OF four million seventy five thousand eight
hundred aud tnrivcigat dollars and eishly-nine
cents e l,07J,SiSSl).
In addition to this sum- the Postmaster General
will require from the treasury for the service of
the Post on Department, three million titht
hundrcd amt thrty-right thousand seven hundred
and twenty eight dollars (S] SIS, 7lS rs explain
cd IN the report of the secretary of the treasury
which will increase the estimated defcit ON The
3Uth June, 1850 10 seven II iun nine hundred
and fourteen thousand five hundred anil seventy
six dollars and eighty cents (S7gli576 81.
To provide for the payment of this est mated de-
fcicucy, which will be increased by such appro.
pr.ations rs may be made hy Congress not est.
mated IN the report of the Treasury ID apartment
as well AS 10 provide for the gradual REDEMPTION
from year TO year, Of the outstindl' ~ treasury
notes, the secretary OF the treasury recommends
surh revision o! tne PRESENT tariff as will .ise
the required amount. After VIII | have already
said, need scarcely add that concur in the opin-
ion exp esSed in his report, that the public debt
should not he incre lsed by an additional loan.
ana would therefore strongly urge upon Congress
the duty OF making, AT their present session the
necessary provision for meeting these liabilities.
The public debt on the l,t of July, 1873. the
S25l55,977 81.
During The first quarter of the presen. year. the
sum of SlO,OoO,o00 has been negotiated of The
loan authorized by the act OF lth of June, lSjs-
making the present outstanding public debt, ex-
elusive OF treasury notes, S3j 1911 60. There
was on the lSt day of July, ISIS OF treasury notes
Issued by authority Of the act of December %,
1877, unrcdecmcd, The sum of $40, 75l, S00-lnak-
Ing the amount of actual Indebtedness, at that
daie, S1i,0lO,777 &C. To this will be added SO.
100000 during the present fiscal yelr-this being
the remaining half of the loan OF SEQ, 900 not
yet negotiated.
The randi nf tho