Juliet signal. [volume] (Juliet [i.e. Joliet], Ill.) 1844-1???, 1861-07-16
Reporter the secretary of the
Treasury.

Secretary Chase's estimates make the
total amount required for the fiscal year
which ends on June Both, 1862, $3lS,51s,
5Sl,97.
OF this amount the War Department re,
quires $3.50 296. 397, 10, the Navy Depart
mont $50 sos, 02U 29-being total for the
defence Of the nation Of $2ll, los, $50 Is.
For civil list, foreign intercourse, etc,
the estimate is 1881. 496.90; for the Interi
or Department, S43l ,525 rs. For redemp
tin If treasury notes, SIC, 639, SCI Ga.
1t will be seen in the foregoing estimates
no provision for the interest III the existing
public debt specifically appears The
omission is only apparent. the estimate for
that interest being included in the sum of
nearly $4,000 GEO already appropriated
for the year 1862
Nine millions will be required for the
Interests on the public debt to be incurred
during the year.
MIR. Chase proposes TO raise eighty mil
lions by taxation, and two hundred and
forty millions by loan. The sum of eighty
millions, proposed to be raised by taxation,
will provide for ordinary expenditures If
the fiscal year 1862, Sos 1857 1924; inter
est on national debt, 50, 900 600; sinking
fund for redemption Of national debt, So
100000: total, 1855, $40 81. To raise
this sum the Secretary proposes to Congress
that duty OF p cents per pound be laid
on brown sugar; Of cents per pound
on clayed sugar Of cents per pound on
loaf and other refiDed sugars; Of q cents
per pound on the syrup of sugar cane CT 6
cents per pound on candy of 6 cents per
gallon on molasses, aud Of cents per GAL
Ion on sour molasses /; and it is also pro-
posed that a duty Of 8 cents per pound be
imposed on coffee; 10 cents per pound on
black tea, and 20 cents per pound ON green
tea.
These duties, he estimates, win pro
duce a sum not less than twenty mil
lions per annum. In ad3itio n, he estimates
the revenue from "duties Of the present
tariff not affected by proposed changes" at
not less than thirty millions; which an as
ditional seven millions from proposed du
ties on articles non exempt, and from
changed duties on articles now either light
ly burdened or so heavily taxed that the
tax amounts to a prohibition" This makes
a total estimated revenue from duties on
imports of s58, 000, 600.
TO this add three mi'lions-the estima-
ted proceeds from sales Of public landv-
making mp sixty millions, and leaving
twenty millions TO be raised, for this wear
at least, "by direct tax es, or from Internal
duties OF exercises, or both" The precise
method to raise this amount he does not
suggest but gives information fog the guild
aLce Of Congress in its action.
1t appears that direct tax Of one eighth
Of one per cent, dd rdlerOm on the whole
real and personul properly cf the country
would produce sum Of 500, l28, co.. A
rate Of one fifth Of one per cent, on the rea
and personal property Of TIE States not un
der insurrection would produce the sum Of
$2l SOC, O56 and rate of three ienths Of
one per cent. on the real property alone il
these States would produce So. SOL $40
either sum being largely in excess of the
smount required. The Secretary suggests
that very small properties" may be prop
erly exempted from direct taxation. He
gives it as his opinion that the needed sum
may also be obtained from moderate charg
es on stills and distilled liquors, ale, bear,
tobacco, bank notes, spring carriages, silver
ware and jewelry, and legaeies And lie
suggests that "the property of those en-
gagged in iDsurrection, or in giving aid
and comfort to the insurgents, ray proper.
ly be made to contribute to the expendi-
lures made necessary by their criminal mis-
conduct"