Daily Ohio statesman. [volume] (Columbus, Ohio) 1855-1870, 1861-12-13

"a -. S-~NA-8
| IN Europe or the United States at q rate Of IA
tereet not exceeding sevenper cont. As no rea.
sonapIe prospect appeared Of obtaining terms
squeliy advantageous BY advertisement, and a.
was manlfestly for the interest Of the Gov.
ylLnp'ent 70 negotiate at homo rather than incur
wy expense and hazard of negotiation abroad.
tne Secretary, under the authority Of TIA ~.
entn section Of the act Of August S, 1861. az
ranged this third loan, also, with the assooiatea.
~ agreeing TO issue to- them. ffty millioua N
uoliars IN six per cent. bonds, at a rata eouIva
iens 70 par Tor the bonds bearing seven per cent.
interest,", authorized BY the cot OF July IL. This
though less ,adyanta geous 10 the
Severpmens' considered under the Hight Of a
slmp PIE money transaction, than the two prior
ioaps, was, 10 some respects at least, more 90.
Nss coupled with no arrangement for feim-
ouisem mept, ana entailed no: immediate expense
~ tne treasury, beyond that Of preparlug and
~sSipg we ponds, lt was coupled also with an
associates, that ON or after the frat Of JannaSu.
fourth advance of fifty millions sbould 81
MADE, on the same terms with the first and sec
tary. - - - - Wv WV '''e''''' 'Soo'o'
an ADDITION TO the loans thus made, the Sec.
retary has Issued United States notes, payable
On demand, In denominations of five, ten and
twenty dollars, Of which there were in circula-
uon, according to the last returns, on the 3Oth
DAY OF November, 1861, $2I, ,l65 900; and there
3s5 INK n m .ue treasury a. the same date, 3d.
sn,o.s ,., ~ no amount tnus Issued, 20 far as it
: sh'efs into tne circulation Of the country, may
'De regarded as loan from the people, payable
on demand, Without interest. 49,
al i.,,. feoapi'uiaton VIII exhibit the gene.
-, -. ''0ui'' ...r--I ...
f1ere ser I'VE. were paid to creditors. or exchanged
and Ausust I, az a. Osr o.rerent rent dates in July
notes, to the amount Of. wv yeas I. o,o m. an
There was borrowed, at par, In the same
no.a. nUnsn,, ,b upon sixty days six per cent.
There was borrowed At maj, ~ I ;c s7sO 20
Of August upon three years 7 40 SonSs 4 ..e
Issued isn ca for the most partto subscribers to
There was xOSn: 80 49, 6O0oO0oo 90
upon like secu rItIeS. ' so mn mn m
There was borrowed at par for seven per '''''' W
cent, on the 10th Of November, upon
Sueod e y Sea ,Ss .osIo,.e SIX per cent; bonds
cludins interest NEUTRALITY-SUSPICIOUS.. v .e' IN A, 7os .zs AZ
There have been issued, and were in crcn. 10
n1so ranon ana on on deposit with the Treas.
manS' mmasa states notes. payable on de-
--,.-....-..o --,---.--1 "
haaGinG az an aggregate; realized from loans
'N' '''"'' 0i i''''''''''.'''''"'ls7,241Sss Il
While success thus complete baa ao far ot-
tended the measures relating IN Ioans' the ssc
nue from Snties hans o, sno LeoeiP,s Ul ,eve
expectations INDUCED at the data of bjs INV
report -.
The act modifying the rates of dutiss which
received the final sapction of Conoress1 d,fIarsd
10 several respects. from the measnra vhich IJ h.
had the honor of submitting TO their conaidera.
tion. In moat of ,ho.a ro..;.-Ie .',S
In the diminished duties on tea. Coffee. and A.;
gar. aud in the exemption, from the onera tona
of the act, OF goods in warehouse and on shio
board, the difference, however warranted Nv
considerations OF general bO,Icy. was certajniy
disadvantageous to the revenue: while a mother.
receipts, NAV be found in the chan Changed Su cIs""~a
stances OF the country, which have 5roved. aven
beyond anticipation, unfayorable 20 iorelrn eom- M
merce. y '0' y s = So'u-
AT the date of his reuort, the sec,ct.rv corn.,
ed on revenue from customs, for The Snsncisl
year 1862, of $57, 900 600. but the oircoma.an.
ces to which he has just adyerted now con.
strain him to reduce this estimate to x32. .l98.
6U2 55. .--...-...' = =, :
Thereceipts from customs for the first GU arter
ending on the Both September, were 81, ,I95. .6O2.
DO; while the receipts for the three remaining
quarters cannot be safely estimated AZ mors
than $25 700 600, making the aggregate for
the year the sum just mentioned, of x32. 1885,
oV2 90.
The estimates of receipts from land and mis
cellsneous sources must also be reduced from
SS ,OOO,0UO to 81, ,354, ,062 SO, of which 1854 O62
o9 were received during the quarter ending 3Osh
September, 1861, and 50 900 900 are the es-
nnated receipts of the three remaining quar-
ters: ...-l..-. ~ ..,.,. Nd. ~ rs,
The only other source of revenue which prom.
lses an addition TO the resources of the year
is the direct tax authorized by Congress, from
which, II increased to the limiE proposed
oy the Secretary, and assumed By the States.
the further sum Of 500, ,OO0, 900 may be expect
ed: s--ls 49,.
Inc aggregate OF revenue from all sources
may, therefore, be estimated at $54. .552, ,665 A,
which is less by $25 447 1884 Sc than the estimates
Of July.
This reduction, however, though large, would
not have compelled the Secretary TO ask any
additional powers for the negotiation of loans.
beyond those asked for In his July report, had
appropriations and expenditures been confined
within the estimates then submitted. .et',l
These estimates, 1t will be remembered, con-
templated expenditures in ell departments, and
for all objects, to the amount of S3I8 SIS. .58l :
ST. OF this sum $lS5, 5,296, ,397 IS were for ad.
ditional appropriations required by the Depart
ment of War; and SIT S., los 09 for approprf.
atiOns already made for that department. The
basis of the estimates for these additional appro-
priations was the understanding that IL would
be necessary to bring into the field, for the sup
precision Of the rebellion, two hundred and ifty
thousand volunteers in place of the seventy.fiye
thousand drafted militia originally called out.
and to increase the regular army By the addi
tion of eleven new regiments: making a total