New Orleans daily crescent., 1861-12-21
Synopsis OF the Report of the Federal Sec
ENf a. retary of the Treasury. s1f W

I The following synopsis Of Secretary, Chase's
report, which we fndtelegraphed to the Yankee
press, will be read with general interest as indi.
eating the condition Of affairs in his department,
We direct attention especially to the Seeretary's
estimate Of what the public debt Of the United
States will be in July 1862 and 1863: -,
NEW YORK, DEG. 2.--The Secretary of the
Ireasury's report, after referring to the recon.
mendations Contained in bis July report, gives The
manner in which he obtained loans for various pur.
poses of the Government. s5.sS s 4 tEsF4sf :, :
The immediate eXigeneies were provided for by
issuing s4,0isO34 id PEI cent two years. treasury
notes, and l2S77,Tb0 In same rates, payable In
sixty days. His neSt care was to proyide for dis
bursements for the war, and he adopted the plan
To engage the banking institutions Of the three
commercial cities of the seu.board to advance the
amount needed gin1 loans for three years 2 $40
bends to pc redeemed from proceeds ofssimar
bonds subscribed fol by the people, hoping thus TO
combine the capital OF the banks and the people
with the credit of the Government so as ID Give
efficiency to administrative action and comp efent
support 70 public credit and the result has fulfilled
the hope. ~ :, Ell s - . y rE ~
" He then rehearses the agreement entered into
between the banks and himself by which the former
agreed 10 take the ipans The history Of the first
two loans has been made public, " The second
loan WAS negotiated with the banks on the l6th
of November, BY which he agreed to issue to
them ty millions in six per cent. bonds at par for
ae ponuS peatinS seven anu thfeestenths interest
rus agreement wat coupled with no arrangement
Tor ACCOMPLISHMENTS, and entailed no expenses, eS-
cepr the preparing and issuing the bonds. This
was also coupled with the option to. the banks that
on ana aIter the ASK Januarya fourth advance Of
MY millions shoula be made, on the same terms
as nfst or second, required. In addition to these
loans, S2l, las ,220,V ,Vup to the 30th of ofNovember
were Issued IN treasury notes of fyes tens and
twenties, payable on demand, and So 1856 ,lO5 re-
Manned IN me treasury, This amount may be re.
garded as loanft ON the people 1a''f' 82%A "
Phe aggregate realized from loansf In various
forms, s sl97, ,142 bSS. The revenue receipts have
not fulfilled his Expectations. He SAYS an act
modifying the rates Of duties differed from the
measure he submitted to Congress- In most Of
these particulars especially idiminished duties on
tea, eoliee and sngar, and. exempting goods in
warehouse, and On shlpboard, the difference was
dsaaVantageous to the revenue, while a political
cause OF reduced receipts may be found in the
changed circumstances OF the country proving un-
favorable TO foreign commerce 54'f..y, -,
These circumstances compel him to reduce his
estimate Tor 1867 from the revenue from 1000 ESQ
70 w., I'VE, s,6e2. Ihe estimates from receipts from
lands and miscellaneous, sources he reduces from
100000 to Bo4 ,o52. The only other songees o.
revenue IS direct tax authorized by Congress
which, il increased to the limit prop6se1 bg ttf
Secretary and assumed blythe States. the furthe,
sum OF twenty million dollars NAV he expeeted
Ihe aggregate os revenue may be thus estimated
al so4 oaz,b6o WINCH is $25, ,447 1884 less than the
estimate OF JAY. 75'-'E " -
The SecretaEy states the estimate for July were