The Cass County Republican. [volume] (Dowagiac, Mich.) 18??-1880, 1858-06-10

that by the commencement of the next
fiscal year the Treasury notes will be
exhausted. So much for the Secreta-
ry's estimates-a mistake in his esti-
mates, which in FIVE months, amounts
to 2o,000,ooO. Nobody is surprised
at it. We were only surprised and as
tonished that the Secretary Of the
Treasury, occupying the position that
he did, should have indulged in such
wild calculations could ever hare
made and published such estimates.
The Secretary made his estimates for
next year; and he is far wilder in them
than he was in his estimates for the
present year. He estimates the dutia-
BILE imports for the next year at $751;
900, ,0OO-s1lO, 900, 900 more of dutiable
imports than were ever imported into the
United States in one year. ! read this
estimate in his annual report with utter
amazement. Why, Sir, if you look at
the imports during the administration
of President Pierce, they amounted,
during his four years, to 81, 100000
-an average of 1886, ,OoO,O 900 per an
mum. From this you must deduct the
articles on the free list, an average Of
twenty-five or thirty millions annually
during that Administration leaving
less than two hundred and sixty mil
lion dollars of dutiable articles annually
imported during the four prosperous
commercial years of President Piercc's
administration. The dutiable imports
this year amount to about two hundred
and ten million dollars, nearly one-half
of which were imported during the first
quarter of the year. The Secretary
told us, in his annual report, that they
would amount to s262, 100000. They
actually amount to about two hundred
and ten million, being $50, 900, 900 less
than he estimated last December. IF
we should import next year as much as
we imported in ls56-57-which would
be about two hundred and sixty-two
million dollars dutiable articles-we
should go beyond the just expectations
of any reasonable man in America.
There is not statesman here there is
not merchant in the United States !;
there is not practical business man in
this country, familiar with the COM
mercial condition of the country, who
believes the imports, from the first of
July next to the first of July, 1859, will
equal the imports from the first of July,
1856, to the first of July ls57-the
largest year of importation the country
ever witnessed.
Next year, Mr.. President, you will
not only not have 1871 900, 900 of duti-
able imports but you will not have
s25O,O0O,0OO. The largest imports we
ever had were 1892, ,000,O 900 of the du-
table imports. Those articles, if they
should come in next year in as large
quantities as they did in 1856 and 1857.
will be reduced in value about $50, ,O0O,-
900, so that you cannot by any posi-
bility, have more than S25O,OOO, 900
of dutiable articles during the next
year, on which you will raise not more
than forty-seven or forty-eight million
dollars. The Senator from Virginia
(Mr. Hunter) estimates the receipts
from customs next year at $50, 900, 900.
l think he will find, when next year
!. closes, that he has made mistake of
from FIVE to seven million dollars in that.
He also estimates that we are to receive
ten million dollars from the sale of the
public lands. Why, sir, the average
land receipts for the last four or five
years are only about FIVE million dol
|. lars. 1t is true, lands are opened in
California, and we may have large
increase; but your whole revenue next
year will not exceed fifty-fve million
dollars, and it is more likely to be less
than that amount. l think it may be,
altogether, about what the Senator es-
Inmates the receipts from customs to be
fifty million dollars.
4 Now, let us see where we are. We
have this year used up the 5000, 900
of surplus in the Treasury with which
we commenced the year, we have
raised forty-four million dollars, and we
have borrowed twenty million dollars,
making a total of eighty-two million
dollars, all of which we have spent.
We commence the 1st of July next,
according to the admissions of the Sec
, retary of the Treasury, without any
money in the Treasury. He estimates
in his annual report that we are to have
imports to the extent of three hundred
and seventy-one million dollars next
year, and that we are to raise upon
those imports $1,000, 900, and receive
from public land $4,000, 900, and from
all sources together $75, 900, 900; and
he estimates the expenditures at $751;
100000. He will fall short of his rev.
enue from customs the coming year
more than $20,OOO,OOO. Instead of
receiving s75,Ooo,ooo in revenue, his
receipts will not go beyond fifty-five
millions. What amount have we to
meet next year? The estimates of the
Department amountto SIS, 5,O00, 900, and
if the expenditures do not exceed that
sum by additions made by Congress,
you have to add to that $20,000,000 of
floating Treasury notes, which we have
to pay next year, amounting to $685.
100000. understand that PROPOSE
tons are before Congress, likely to pass.
that will add several million dollars to
the expenditures. Suppose they be
eighty million dollars-and do not
believe they will fall short Of that sum.
/ Co. H,~ Ill q