The Weekly Perrysburg journal. [volume] (Perrysburg, O. [Ohio]) 1861-1???, 1861-07-18
Report ga tile Secretary OF Ghs
Treasury.

The Treasury report being the most Inn
por!ant, and Of The most general interest
we have. for tho convenience of our readers
prepared careful abstract of the statements
and suggestions, from which the proposed
financial policy Of the government may be
more easily gathered
Secretary Chasc's estimates make the to-
tai amount required for the fiscal year which
ends ON June 30th 1862, $3l8,5l9,58l 81.
Of this amount the War Department re-
quircs SlSO.296,391 10, the Navy Depart
mcnt $50 6O9. $40 29-bcing a total for the
defense of the nation of S2l7, ,lG9.S50 10.
For civil list, foreign intercourse, &c, the
estimate is SG3l AGO 90 for the Interior
Department is $Si3l ,J25 -. For redemp-
ton of Treasury notes 1859 SCI Ga.
II will be seen that in the foregoing csti-
mates no provision for the interest on the
existing public debt specifically appears.
The omission is only apparent, the estimate
for that interest being included in the sum
of nearly S66,000,000 already appropriated
for the year 1862.
Nine millions will bc required for the in
terest on the public debt to he incurred du'
ring the year.
Mr.. Chase proposes to raise eighty mil.
lions by taxation and two hundred and forty
millions by loan. The sum Of eighty mil
lions proposed to be raised 10y taxation, will
provide ror ordinary expenditures of the
fiscal year l7G2 500 $3.50; interest on
the national debt, 100000; sinking fund
for redemption Of national debt, IS, 100000
total, $79SS78l0 81. TO raise this sum
tho Secretary proposes to Congress that 6
duty Of 2l9 cts. per pound be laid on brown
sugar ; Of cents per pound on clayed sls
gar; Of 4 cents per pound on loaf and 9th
er refined sugars 2l3 cents per pound OF
the syrup Of sugar cane Of six cents pei
pound on candy; of 6 cents per gallon OF
molasses and it is proposed that duty o
> cents per pound be imposed on coffee; l.
cents per pound on black tea, and 20 cents
per pound on green tea.
These duties, he estimates, will produce
a sum Of not less Than twenty millions pei
+ aunum, In addition, he estimates the rcYc
nue from duties Of the present tariff no
, affected by proposed changes III not les!
than thirty millions with an additiona
seven millions from the proposed duties
, on articles non-cxempt, and from changed
duties on articles HOW either lightly burd
cncd or so heavily taxed that the tax amount
to prohibitions" This makes total est
mated revenue from duties on imports 0
about &57000,0 900.
To this add three millions-the estimate,
proceeds from sales Of public lands--mak
ing up sixty millions, and leaving twcntl
, millions to be raised, for this year at least
" by direct taxes, or from internal duties o
both" The precise method to raise tint
| amount he does not suggest; but gives in
formation for the guidance Of Congress il
t its action,
Ii appears that direct tax Of one-eightl
+ of one per cont. a1 Valorem on the whol
, real and personal property of the countr,
q would produae q sum of S20l2S667 J
, rate of Qne-hfth Of one per cent. on the rea
e and personal property Of the States not I'm
der iusurrection would produce the sum o
= S2l ,s00,05G and a rate of three-tenths o
one per cent. on the real property alone
{ these States would produce SO ,S9l $50
: either sum being largely in excess Of tn
@ amount required. The Secretary suggest
|, that "very small properties may be proper
g ly exempted from direct taxation. He give
v il as his opinion that the needed sum ma
1 also be obtained from moderate charges o
y stills and distilled liquors ale, beer, toba'
90, bank notes, spring carriages silverwar
| and jswolry and legaoies. And he suggest
o thot the property Of these engaged N II