New-York daily tribune., 1861-07-06

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tions seous that en- extraordinary exerion OF .ne
pablo force, crea'i" extraordinary demands nP0n the
pubh; resources Z. required for It's spe 'y sua ey"i.
plete discontinue aud suppressing ln the Jndgwsht
Of the Secre' sry the elearest understanding " the
actual coOc aion Of The public finances, apd OF the
measures <inanded by its exgencies VIII oe Obtained
by considering the whole subject under 'he following
general irsds:
Fast. The balance Arising from the receipts and
expenditures Of the fiscal year 1861, ending on the Soth
OF June.
SeooHd . The demands upon the Treasury, arising
under existing appropriations, and created oy ne new
wear 1892 exigenees for bch provision is to be made
| curing the iircal year.
Tord, The besi way Of providing for these de-
maBds and the means available Tor that purpose
As 10 the frst and second branches, the Secretary
shows an aggregate Of appropriations already made OF
| S1J7iO,Sl0 %. lie proceeds:
The additional estimates herewith submitted lot the
service Of the fiscal year ending Jane 80 ls6l inend
ing the deficiency ~nsed By the Application OF 80 ?e,
sj9 O6 10 the seiv of tie preceding year, will re-
quire additional appropriations For elvli iisl Ioresn
iuercOnse, and MISCELLANEOUS OBJECTS W ,oi
the Interior Department sji 52j 70; for The war pe-
partment SIS, 296,3I 49, for the Navy Department,
t3a GO9 $40 ~ in the aggregate, sttl i6Ss1o To- 10
| addition 10 these demands upon the Treasury, u VIII
be neees airy to provide 10. .e renelon % ., ' of
sl2 GgBI g. and COR the payment a the interest on
the pnblic debt be created during the year. "heh,
computed for the average OF the fN months, may De
estimated nj $900,l0J.
Aiter fnrI'er fg'ring the Secretary Gays the whole
amount eauired Tor the fiscal OF loo2 may, there
lore, be stated at $3lS,57J,5Sl 81.
| ltNill be seen that IN the foregoing es1nmes 80
pr ision or the interest On the existing public debt
sreifc!lly appears The omi-sion IL only apparent,
the eainte Tor that uercs, being included IN the sum
OF nearly s660J0,OO0 already appropriated oF the year
| ls6l.
On the third branch, viz; the WAYS aud Means the
Se,rary saws: To provide the large sums required Tor
ordinary exiendilnre aud By the existing emergency,
il is quite apparent duties on mposs the shle resource
ior ordinary disbntsenents, VIII not he adequate
Tie deficiency Of revenue, whether lrom imports or
other sources must necessarily he supplied from loans,
and ne problem TO be solved il that OF 20 proportion
in tie former to the latter, and adjusting the de-
tails f both, that ihe whole amount needed may be
obtained " Sh certainty, with due economy with the
least possible inconvenience, and with the greatest
gosfllc Incidental beneii TO The people.
Tb, Secretary has given TO this important subject
the hest consideration which the ur ency of his varied
public duties has allowed aud submits % the con-
silerion Of Congr,ss, with great difference t'ndi no
llle isrn,t Of lis ovu Judgment, the cone nrons to
which be mar arrived. lie is Of the opinion that
$s0O0 ., should he provided by taxation, and that
500 600 0G0 should be sought through loans. 1t Will
| bar he disputed that IN every sound system o
nGu O. ade uaic provision by taxation for tie prompt
discrre Of al ordinary demands for the puncual pay
ment Of the interest oRns and for the creation OF
gradually Increasing fund fOf the redemption OF the
principal il Indispensable. Public credit can only be
cd by public uith, and public jsiih can only he
mangirod ~ AN economical, energetic ana prudent
sduiis ration II pubhc affair, aud by the prompt ana
/ p0udual iailment of every public ohh5iticn'
il has been already stated that appropriations Tor tue
ordinary expenditure for the fiscal year OF 1902 n-
/ cludng the permanent and indefinite descriptions,
aniOns 10 k so Si9 81 ana the interest TO be paidon
the debt b., ncnrrtd during the year. has been esii-
mated at t9,000,00o, making MI aggregate OF ordi-
nary expenditures of 80, ~ oi9 81 II 10 these sums
be s.fed g. 0O, 900 provision for the reduction
and tnal eNtnguishment Of the public debt the total
will te y7g so ,S4g 81 To provide for these payments
] if l.. ia afrpri.ufg with the Ifmglle
/ ftaiei 20 raise by taxation ai leatt the sum OF
/ So, 90 100. In considering the choice Of revenue
sdequste to the purposes Just ndiCsIed The attention
Of tle SECRETARY has been neoessaiily dawn 10 he
different modes Of taxation authorized by the Consli-
tuou The chics T. limited 10 duties on imports d.
! rort tayes AID internal duties excses. Dates
on imports coustiue the chief form OF indi-
rect rIatiou. Direct taxes include eaPltaton taxes,
take. ON rial csenie, and probably general taxes on
personal prop ty included in list. embracing all de-
scr tious aid valued ty Uniform rule, while under
he head OF internal dute FTd eAcses usi 9e lp,nd-
Cd sh iaNos ga ef4lSsntl~iyriy, I"h reieHn'e 70 ne
raef u lan vsllss. Tie PRINCIPAL sdyanls9es Of The
.ysem OF dhseI taxes found in the sensi5iiy with
WITCH ihoY are iot aud observed in tie motives tbus
arriving i0r ecahsmy AID Adeliy ia the AdmiLstra-
ton ard ~ the msaifcsi equity OF di, ribung bur
d,hs in pg0pJ lion to Infans rather than In proportion
20 ccns uupiioB. Ga be other hand, the I'D, anita
g.s Of indirect taxation, by dnIiss Oh imports,
Js IA md In the economy - collection, In the facility
II payment W The a.iafsity to the encouragement
eIui iuerrrenee sith e finances ol tue States, whose
nsn reliance for for all OBJ sets Of state Adj
aifsiuiiUn, ugst ncceiaiy be uf0n lsyes Oh prop
srty. Ille-s considerations baye, Doubtless, deter
mined he pre- erence " ch hss slvays been eyineed
by lbe sopie 81 sbe lnied statss, a. wei "a b.
leic lex aiiye ard s2feui!e oi dnie. on iApOts,
~, the chief oi aAEonl revenue. Oly on o.
iOns OF special sXigsicy bad resort been had 10
direct aAsfion, 90 internal duties or excise.
No departure IL pIOylsai by The Secretary from the I
line 0. pOisy thas sanrpn.d lie yenlnrts 30 recoin-
mend only su.b roGiticCi1ns u the existing tarh
will produce tas gineIaI part Il the needed revenue.
Add sneh ru-ort To dfet taxes On internal duties /
a. circumstances nay require IA order 10 maze |
good whatever Of t'urs may be iouLd to exist. |
That tie Pfessai tsnf Of altes Will not pro.
dIne the isyouts 70 IiFsd by ,Ouid pm lples Of I
fIAucr under existing sircpB'-tHDo,-, i proposition
rhlch vii command .in,r'i 's,ent. IL was lormcd,
deed with ieicieuos toh very different condition OF
Affairs. The rD 3ts.Or The last quarter OF the fiscal
year u ,losed we're Dns fj,jH ,Ji6 3j, aud though
yory considerable Improvement IN the revenue,
may he cOIsi,csstb anticipated tor the cur
rcu. meal year, should 10 change lie made
in the ute, OF dlbes IL will bo Insoequatc bsyond
ioubt ~ the demand Of the Treasury, which shoald
be provided or Without psort 20 loans These de-
uanrr, har been already suited, HiU reuon the
Oi S,J,N7,S 81, sdn hot SIeater, perhaps, lhsn
may be cIssonakt expected IA nore prosperous yelrs
frDin a wel-a6Wfd tarlf Of duties thorgh grss,er
than now b. rIectso iIoui any tariffs.
TIE Guorders u busines incident disturbed con-
ditiOn OF political siiai,s viii 10 gradually redrcssed
Is aulSB fpsL 10 receive cue tilJe ODs ruclru
IA former oourses and the employ ments 9tgc
the Industry disph od from formerp ir,Is. With this
reu oyJ NJ t,m.n md nruStry ire revenue will iD-
proye even ths th the restoration OF peace MAJ be
DELAYED eyouJ prt1ent hope. IL Is hardly 20 be
doubted inoreove that the groHt body a the ci2ens
of the Ssies nou involved In the calames Of insur-
rectiou, wilI s,s ioDg, become satisfied that
order and peSae, aud security for all rights Of
property, aud for ali personal ahd political rights ia
The In on aud utier the Constitution, preferable
10 the disorder ssd conflict and insecurity necessarily