Washington standard. [volume] (Olympia, Wash. Territory) 1860-1921, 1861-08-17

From the annual report OF the Secre- |
tary of the Treasury, Salmon p. Chase,
we compile the following synopsis.
The report is published in full by the
IRiOn:
PROBABLE EXPENDITURES.
The most Of the report is devoted to
the increase in the expenditures of the
government during the coming year,
and in suggestions in regard to how it
may be met. Already, the Secretary
says, the appropriations am ountto &c.,
71O,87O.
The additional estimates herewith
submitted for the service Of the fiscal
year ending June 80, 1861, including
the deficiency caused by the applica-
ton of $6, 298, $50 O6 to the service of
the preceding year, vii! require addi-
tional appropriations.
The Civil List, Foreign Intercourse
and miscellaneous objects, 1881 ,496 80;
tor Interior Department, $431 ,525 IS;
for the War Department, 1885, 1885,
397 10; for the Navy Department, $780,
609, ,52O 90; in the aggregate, $217,-
169,85O Is. In ambition to these de-
mands upon the Treasury, it will be
necessary to provide for the redemption
of the Treasury notes due and maturing,
to the amount of 81, 2,639,86 GA, and
tor the payment of the interest on the
public debt to be created during the
year, which, computed for the average
ofsiz months, may be estimated at 3d.
600, 900.
After further figuring, the Secretary
says the whole amount required for the
fiscal year of 1862 may, therefore, be
stated at 1918, 8,519,581 81.
1t will be seen that in the foregoing
estimates, no provision for the interest
on the existing public debt specifically
appears. The omission is only appar-
cnt, the estimate for that interest being
included in the sum Of nearly $66, ,OOO,-
900 already appropriated for the year
1862.
HOW THE MONEY is TO BE RAISED.
The deficiency in tho revenue must
be met by loans, says the Secretary.
This deficiency, he thinks, will be
$24O, 600, 900 for 1862. As already sta
ted, the appropriations for the ordinary
expenditures of the fiscal year of 1862,
including the permanent and indefinite
descriptions, amount to $65, 1881. $40 "a,
and tile interest to be paid on the debt
to be incurred during the year has been
estimated at $9,OOO,O00, making an
aggregate of ordinary expenditure OF
$74, 1887, $40 81. If to these sums be
added $4,000, 900 rs provision for the
reduction and final extinguishment of
the public debt, the total will be &c.,
S87, $40 81. 10 provide for these pay.
ments it is proposed to raise by taxation
at least the sum of $50, 100000.
In considering the choice ofrevenue,
adequate to the purposes just indicated,
the attention of the Secretary has been
necessarily drawn to the different modes
of taxation authorized by the Constitu-
ton. The choice is limited to duties
on imports, direct taxes and internal du-
ties or excise duties on imports, consti-
tuting the chief form of indirect taxa
ton. Direct taxes include capitation
taxes, taxes on real estate, and probably
general taxes on personal property in
cluded in lists embracing all descrip-
tions, and valued by uniform rule,
while under the head of internal duties
and cxcises, may be included all taxes
on consumption and taxes on special
descriptions Of personal property, with
reference to use rather than value.
The Secretary favors the indirect or
tariff method of increasing the revenue,
as one less liable to be seLsibly felt by
the people than that of property tax
alton. He therefore proposes that .
duty Of two and a.half cents per pound
be laid on brown sugar, Of three cents
per pound on clsyed sugar, flour cents
per pound on loaf and other refined
sugars, of two and a-half cents per
pound on the syrup of sugar cane, Of six
cents per pound on candy, Of six cents
per gallon on m0lasses, aud Of four
cents per gallon on sour molssses; and
it is also proposed that . duty of five
cents per pound be imposed on coffee,
fifteen cents per pound on black tea,
and twenty cents per pound on green
tea.
From these duties it is estimated that
an additional revenue Of not less than
go, ,00O,O 900 annually may be raised,
while the burden of this revenue upon
our own people will be to some con.
siderable degree mitigated. q, ,0o0, 600
may bs added to the revenue BY sllght-
ly Increasing the tariffon other articles.
He estimates, therefore, the total reve-
nue. from ilnports during the present
year at 81, 900, 900, to which may b