The Ottawa free trader. [volume] (Ottawa, Ill.) 1843-1916, 1859-02-05
FINANCIAL AND COMMERCIAL.

Our National Congress seems much perplexed with
the various tariff projects which have been introduced
by members from different portions of the Union. All
seem to think that something should be done increase
the revenues Of the government and yet there not
harmony enough among the members to effect anything.
1t is therefore, almost certain that the session vii
transpire before a tariff bill be adjusted SO as to
pass both houses We have it reported that the
house committee Of Ways and have agreed upon
a bill. The scheme is to raise from to 3 per cent on
the al ralorum list; from to pr CT on the SPECIFIC
list liquors to so ct and reduce the number
OF article on the By this arrangement is
estim ated that Sc could be realized r ON
customs than under the present Law.
The expenditures of the government, assuming that
a saving OF $4,000 900 will be effected by rigid
economy will still amount to $50 900 0O0 there
about The receipts of customs, which amounted to
$64 900 coo in 1885, to 500 900 in 1857, not
than $50 100000 last year, while the proceeds Of
the land sales were quite insignificant. 1t cannot be
reasonably expected both and land sales
should yield, this year than s45 the
very highest $50 co., in which latter case, the de-
fciency to be provided for would be from 25 to 30 mill
lions dollars. In view of these circumstances an in
from customs of IS 100000 appears like mere
drop in the bucket and certainly could produce
desired favorable effect upon business and industry.
The present debt of the United stetes is about s|
100000. Should the present revenue system remain
changed by the time the next congress meets our Ma
tonal debt will have reached nearly ninety millions,
saving nothing about the thirty millions the pur-
chase of Cuba.
The eleventh annual report of the Trustees of the I
nois Michigan Canal has been laid before the ess-
lature, from which make the following extract:
Statement OF Tie receipts and expenditures for 1888.
from tnIls, ioi 90
Add balance in treasury Nov. 80, 1851, l0s,935 26
Total to be accounted for in 1855. 49l, AS 81
ExPESDrTURES.
Arrears OF interest registered Canal Bonds
and Indebtedness, ...-.................s 6,1s4 "a
Payments account of principal of register
ed Canal Bonds and Indebtedness. 29,4G %
Maintenance and repairs of Feeders. Pump
ing Engines Observation-Disclosures s.0sS 81
Contingent and general expenses... 1890 81
Tolls expenses of collecting salaries ....... 1852 80
Canal proprrty sales OF lands Sc....... 1857 80
Exchange on funds RENTED to New York.. 9S6 55
Canal damages Ottawa Sewer, 1c.,... 500 90
Total expenses 1856, .19l, Is6 "a
Balance in the Treasury, Nov 80, 1885,. STo,69i SO
fetal accounted for 1885, 47s 3,
The Treasurer thus disposes OF thi. balance -
Deposited in American Exchange Bank, sub
ject to draft and dividend, f32520S 81
Do. in Illinois, do do d. ........... IS, IA ~
Amount applicable TO payment OF unclaimed
dividends and on deposit i'll American Ex-
change Bank, New York. 3i2, 209 80
&370,69l 90
| The report gives a statement OF the entire
received and expe nded ind the since its
nsaon in 1,45, up the 81 Nov last, of which the
| following the totals
do expenditures, ',"9o,i36 Il