Saint Paul weekly Minnesotian. [volume] (Saint Paul, Minn.) 1858-1859, 1859-02-12
Hayden . News.-s Revolution Success.
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Secretary Cobb on the National FL
nauces.

WAsHIyGroS, Feb. g.
The Secretary of the Treasury. sent to the
House to-day reply to the resolution calling
Tor the actual and probable receipts from the
customs, public land and, other sources for
this and the next fiscal year, and for his opin
ion whether said receipts will be adequate to
meet the public expenditures. He SAYS that
the receipts during the first quarter Of the
present fiscal year, ending September last,
were nearly $2O,23l 900, as stated in hi, an
nual report The receipts for .i.r 'eIiiauinis ana
three quarters were estimated at so,2uo,o0o,
of which sum $S7 ,OOO,OO0 were estimated
auarter ending DecescSaf es EaF last would yield
lO,OOO,OOO Th- present quarter ending Oh
The 81 st of March, $l5,OOO,OoO, and the next
quarter ending on the 3Oth Of June, $l2.-
JUO,UO0. '' = .s
In reference not only to the customs, but
The public lands and other sources Of revenue,
all the information which has been received at
he Department since his annual report, con
.irm the correctness Of the estimates Of the
probable receipts for the present and the next
fiscal year., He is, therefore Of The opinion
hat the result will show that the actual re-
:eipts for the next fiscal year will not vary
materially from the estimates already submit
ted to Congress. In support. OF tins opinion,
ne submits q comparison of the receipts fOr
he same quarters of the two preceding years
During the fiscal year ending the 30th Of Jlne
1857, the ilnportations were very heavy, and
amounted, in dutiable goods, exclusive Of
those exported, to over $294 ,0o0, ,Ogo, and
the receipts from customs that year were
S63, ,548, 900. -. s.Gsc.r
In the fiscal year, ending June 1855, the
Snop
in dutiable good, exported, to 303 900, ,oO0
and the receipts from the customs to $42 ,350,-
900. To realize his estimates the Importation
Of dutiable goods for the present fiscal year,
must reach $3.50, 900, 900, besides those ex-
ported, and for for the next iiacal year the
sumo of $2SO,OOO,OOO Accompanying the
foregoing statement of receipts, and looking
to favorable and healthy reaction in bust
ness, he should regard it unsafe and unwise
to calculate upon larger importation than the
present estimates.
Entertaining these opinions, he is compelled
to say the receipts will not be adequate TO the
necessity OF the public exigencies, unless the
expenditures should be reduced below the a.
mount estimated for. He has seen no midi
cations thst would induce the opinion ,i,at
such result can be reasonably anticipated
On the contrary, should the bills which have
been passed by either branch Of Congress be
finally passed by both and become laws, the
expenditures will be very largely and perman-
entity increased.
After suggesting various methods by WHICH
the estimates could be cut down, Secretary
Cobb reiterates his opinion heretofore cx-
pressed, that the public debt ought not to be
increased by loan, and comes TO the conclu-
sion that the present tariff should 5e 50 nlodi-
lied as to supply such deficiences as may ex-
ist TO meet the immediate pressing exigea-
cies OF the government, he recommends the
reissue of Treasury notes for one or two
years, which can be done by extending the
provisions OF the act Of Dec, 1857.