New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1863-12-11

has hem already seen th6t the amount required g5
general dishurseneits eAelnive oi pam. w ~, ~
cnrr,nt fiscal wear was the lat OF October last
s5,a 49, SCI So Of which sum Sllo,5VeVCO were TX
pcoted from ordinary sources, and the remainder sioi
l57 So So was expected from loans
The receipts and eXpordtufrs dniirc OCTOBER az"
November other than account Of principal Of dcp
Amounted each 81 far ~ has been ascoraned 10 elf
0t0 13l TO- without balance VI tAese 49, Sz ~
703 ls were from ordinary sources, and 70
from loans either temporary or permanent, ieflns 10
be obtained during the remaining seven months ii"i
ord mary sources s79 67026 ~ and from onns soJ<
o26 SO e2 On tie basis of these two months, thc IT,
ceips ard expenditures from odlragy sources LOT '
last three quarters of The year viii respective! 1890
the general estimates by Sf,O35~i 81, ana $500,
257 ~ making difference in favor of the country Oh
sJ,.Al,406 81. !,
The Secretary admits. therefore no apprehension Of
deficiency comparison with estimates III any oi ne
ordinary sources Of income except PERHAPS me ,h'e
ns revonnc does he anticipate any foImidat' (. az
fcalty In providing the amount to BE- obtained ron
loans especially if the successes vouolsaled by era
cious Providence Ia our armies dTing Tie lac. Lihc
months rhnll continue 70 attend them.
But no ore can be more rrufonndy Convinced IMAM
himself Of the very great importance of roNidlhs en-
larger amount than Is estimated from revenue. Il"
check the increase Of debt must be. IN our c'rcum'
stances prominent object Of patriotic socitude Inc
Secretary therefore. while submitting estimates which
require large loans aud while he thinks Il not very di.
cult to negotiate them feels himself bound by prudent
regard 20 pos bile contingencies 10 urge on Congress
efficient measures Cox the increase Of revenue.
1t Is possible that limited additional amount OF IN.
come may be derived fIom judioicns modification OF
some provisions Of tie laws in potrg duos on foreign
Imports Tut the chief reliance FOR any substaiinl IN
crease and for The prevention VI possible decrease
must be on internal duties
INC Commissioner Of internal Tcveuue recommends
an increse of The tax bauk-roie circulation TO Two
and two-ftlis per cent On Increase 81 The duy
on distilled spirits TO sixty cents per gallon
an increase OF tho duty on tobacco TO twenty
cents per pound leaf. and from five to twelve
cents. according 10 Gnality. on Manufactured
duty II ten cents per lion on crude petroleum.
Grty 81 two cents per TO- nd on cotton the repeal Of The
tobacco and petroleum drawbacks; and various other
cba gcs Of tie internal re,enue laws designed to aug
men, the receipts rWn this In The particular
Recommendations jr'T mentioned tue Secretary mlly
concuis md conrerds all bis suggestions 20 cnIoful
attention. I've enactment Of such laws ~ VIII secure
M increase OF the rcrnal revenue 0 tho amount orrin
s.!y estimated. sl3QOC1WO ycaY IS required b! The
strongest considc Faiions Of public policy.
Hitherto the expenses O. The war have hctn dcf!aycd
~ loans 10 IN extent which nonr but The expectation
OF IL speedy termination oon.d iulis warrant.
H. hs frat rport Submitted n tic special session In
July IeGl the Secretary stated lis conviction TINT To
sOand tnalclai condition, system Fl TAXATION certain
10 produce sufficient revenue e. pay the tcle Cruz
nary expenses Of the Government IN the o. peace and
the entire Interest on the public cfl ana q cT'ne
gradually Increasing flna 10 TIE r,Gc ptl0n ~ r " N
ne i seemed highly probable that tho var would De-
speedily brought 10 successfa ciofo inst ths reienre
Should largely exceed tie ornsfy ena ne
interest, On e contrary, u seemed v.sel "a OBTAIN
the means for nearly the whole o. the extraordinary c1
pendirrcs b. loans aud tbs avoid lie necessity u ans
considerable incrcnsc o tie burdens 4 tie people a'
time WLes he sudden ogbfecA II fie i!ous tsufI'l
Lad delsIgcd lAclr bl,ncss. and temporarily Ginin'
islel their Incomes.
The financial adminstrn'ion 81 tho nrsi fscal year
acr The outbreak ~ the rebellion was c. dicici rpon
- csc iGcns The rs ~ Cuurres. % 'ae IL IN Session
o. July -6i we're framed M tho iu'cu,ion 4 flpy
Ing tic ful amour, u revenue dcnnnd,d ~ ihe n bls
receipts Disappointed expectation. AID 70 spDn became
obvious lLni a Ioh larger proportion u tte means
needed Nr TIE Asoni year l-t,, tlan The principe
adopted would allow most b. dcriV,i iroti !oai-
Wien. therefore CoGSTcss htfrthd 4h re- 'e''
sion on the iist Mo-dnTf Icosmter .tll tas serie
tary directed E'eliiun 10 the ucc's.t OF nclcatgd
inIa'.on The rcslou r. liv promptly ASSUMED u
Congress nrd TIC internal fovcnlc Jas w1s enacted.
and .rcl l1odiic i0i = lf taf4N AZ wee uac that
nu,r provision for tire deslfes cbe,a as n9R sup.
Iaatd i0 rave been 30 uny srcpf'd. IL Ne toi 81
pfctcd lowovcr that tho 'ni-ficr ~ ihs1es '.Atpn
woui affect ,bs results - TIE thea cGfr'ni gea Mr.
did 10 aGoci them. The tyial receipts i.om oIdnar!
source. - IN. ep-e that year june - i-c2 In
sufficient g.. tho Vayments expected - b. made Z, 70
them Thr .ripfs weic 60 sl-N 10. vale To Dis
bursctuet, .og erI service i0f nlons ARD IHdf 10
srd f,r iutcrest vefe Ell 70l roi 49, having only
So 90 oi9 o. fr tie War sal Navy Departments te
"a rndtuics 81 Itch 10 81 r last year q a-c al ocn
Ga g21' e. and noihlg AZ al for extra. ln4Iy 4
ycltlttTcs o. sinking una.
Ia Alsrcp09 tho December session. ls'4 tie Sec.
rciarr considering this deficiency 90 nss 4I = he
correctness ~ the cot mate - 40 o. U "a The ar,u1t
% receipts froni internal dts ard iaklg douc me
exgc SO 81 tho Waf Aars ID, frrl ns 10 Ito La,
year Of ieace az tie amount IA leo 20 Annually pa.
quirrd TIC SUP fft lf 81 INC 10. lhif1
DE opr on a. tie probable receipts rnder the lcg "a
ton Of the proceed session would met All nGg nafy
crucLdiufcs Tor tie iarni year sfl md inter- ~ aid
leave q largo surplus 90 lc applied, Tor q prfcrt 90
l. eArEDIlinarj disbufs rcufs 81 tie Naf al, after ia
Feose to tie reduction oil debt H. la, report, .hcre
Fore and In Ls suhseque cImu4ur cHtoni io tho prop
er Committees Tho Secretary surrcsicd no Increase ~
taxation. but confined lis rccommendltons 10 other
measures Tor tie Improvement % tie puulio credit
among which ote relating 90 loans and 20 Uniformity
/ q clrronoy he'd the fOlflIosi place.
Congress gave effect To these recommendations y the
loan act and the national banking at but 1t the
time somewhat diminished the expectation q lDcome
! by notifications NJ he internal revenue at.
| Notwithstanding this diminuion. however and not
whstsndlng the much larger dunulon caused w The
line II receipts expected from internal dltirB unAf
fcctcd Is ts Stallion the Secretary Las now The sni.
sfaeton Of being abe b. show that the actual receipts
OF tie last fiscal year DID ray the whole interest, the
tie Army and Navy at double those II tic asi year
u peace al portion u tne extraordinary oXpendi-
lures which under tho circumstances. was equivalent
to a payment into sinking fund.
Yhus no total amount u fnc~ .is during the
hsc year IyoJ vas.......... rH'NJ3l3 -
Willie the expenditure were;
For too Civil service AID iog Pensions and -
f'tJfN ~
Foi H,743bso vi
And would have been for ordinsry d.bufse
men. Of " aud Navy departments osfi-
rlntcd 81 do bio ,boso Of tie lat yrer u
eotf9tf ~
oi6 Ia VI
Leaving difference between receipts and ofd-
psfy al prudi app fc-i.Ie ca -1tfaord.nsIJ
Expenditures " sinkiDg iund.'''.....'' lefOs5 -