Weekly national intelligencer. [volume] (Washington [D.C.]) 1841-1869, 1864-12-15
fsls 2sa.OOs

Deduct estimated receipts from ordinary sources.
1896 000 there will remain to be provided for by loans
S422 26 05 To ths should be added for redemption OF
excess Of certificates of Indebtedness S47 36 00 max
Jog the whole amount TO bs provided for b7 loans
$469 62l 005 Assuming the correctness OF these est
mates the whole debt the first day o July 1866 would
be found by adding the foregoing amount Of S422 26 006
10 the estimated debt in July J. 1865 80 2223 677,
giving $2645 $50 GS2 the amount Of the debt at the
close of the next fiscal year.
This calculation 10 made the basis Of receipts
as that assumed for the current year 1t is quite poba
be in the judgment Of the Commissioner OF Internal Re,
venue thai $500 600 600 may be received n another year
from that source, without the additional legislation sus
gested by him. Should this suppositon be verified and
the proposed for this be laid and continued
additional fifty millions might be expected from inter-
nal revenue. The Secretary has, however thought II
wiser to $300,000000 as all that would probably be
realized
1t will be observed that the actual receipts from ord
nary sources for the last fiscal year varied materially from
the estimates, particularly from customs and Internal
venue This variation is mputabe in great part to the
legislation of Congress at its last session. Increasing see
H the rates of duties foreign aud domestic articles It
IS apprehended however, that similar results will not fol.
for the residue Of the present year in both these par
cuars
The increase Of duties on imports under the act of June
80 1864 has already had the effect to decrease mpoits
tons considerable extent, and the effect will ba
likely TO continue So that estimating the receipts OF tbe
three remaining quarters by those Of the first in the bght
of former experience it will not be safe calculate upon
from customs much exceeding $4,000 Tor The
current year In the Judgment Of The Secretary tos ad
vantage in financial point of view is more tnan counter
balanced by the stimulus afforded to domestic industry and
the consequent increased revenus from that source
From internal reyenue different and far more favorable
result may be anticipated It will be noticed that instead
Of S77 599 03 there was received rom ns souiS' 70 the
psst year Sl0o 32O under tne ssue aT @cs 70 seu
months of the preceding year yielded only SS $40 7S.
The new law which went into operation on toe lst OF July
Last largely increasing these duties although 1t will proba
hv fail TO produce the amount of revenue hoped for may,
If mot materially changed together with the special income
tar imposed by JOINT resolution OF July 1884 be safely
Estimated to produce the of S25 600 o00 should
business Of the country be ordinarily prosperous The
same causes which, under preceding lave produced so
large an increase the secoEd year would bs likely
similar effect extent under the law; that
at the of S25 900 may be expected from
in another year without aid Of specis
But this amount !, not aud ought not TO be satisfactory
lhres hundred millions at least should DO realized from
internal duties 1t for Congress to select the
and devise the modes which this most desirable result
can be obtained and the report Of the Commseooer
Internal Revenue Is referred 20 for his views this i'm
portsn point well for many valuable suggestions hsv
ing reference TO the same general subject
i Csnelxded on tho fourth rcgs.l