The Potter journal. [volume] (Coudersport, Pa.) 1857-1872, 1864-01-13

rendered anu damages awarded Dy Ine
Admiralty Courts. And in other cases
where this Government may be acknowl
edged to be liable in principle and where
the amount of that liability has been
ascertained bv an informal arbitration the
proper officers of the Treasury have deem
ed themselves required by the law of the
Uuited States upon the subject, to de
mand a tax upon the incomes of Foreign
CoDsuls in this country. While such
demand may not, in strictness, be in
derogation of public law, or perhaps of
any existing treaties between the United
States and a foreign country, the expe.
diency of so far modifying the act as to
exempt from tax the income of such con,
suls as are not citizens of the United
States, derived from the emoluments of
their Office or from property not situated
in the United States, is submitted to
your serious consideration.
make this suggestion upon the ground
that a comfy which ought to be recpro-
Gated exempts onr consuls in all other
countries from taxation To the extent
thus indicated, the United States, think,
ought not to be exceptionally illiberal to
to international trade and commerce.
The operations of the treasury during
the last year have been successfully con-
Quoted. The enactment by Congress of
National Banking Law has proved a
valuable support of the public credit, aud
the general legislation in relation to loano
has fully answered the expectations of
its favorites. Some amendments may be
required to perfect existing laws. but no
change in their principles or general
scope is believed to be needed Since
these measures have been in operation
all demands or the treasury, including
the pay of the army and navy, have been
promptly met and fully satisfied No
considerable body of troops. it is believed,
were ever more amply provided and more
literally and punctually paid, aud it may
be added, that by no people were the
burdens incident to great war ever more
cheerfully borne.
The receipts during the year from all
sources, including loaus and the balance
in the Treasury at its commencement,
were S90l, ,125,674 S6-the aggregate
disbursements $895, ,796,630 G5, leaving
a balance on tie lst Of July, 1868. of
5,329,044 q.
Of the receipts there were derived
from Customs. 69,059.642 40. From
Internal Revenue, ,$37 ,64O,787 "a From
direct Taxes. S1,4S5,1O3 61 From
Lands. S167,617 II. From miscellane
ous sources, $3,046,615 So, and from
Loans s776,582,s61,52 making the ag-
gregate S90l, ,l75,674 sc.
Of the disbursements there were 1882,
$50 %; for pensions. &c .S4,2l6.52O 50 ;
for interest on public debt, $24,729 SAG
81 for the War Department, $500 298,-
600 SO; for the Navy Department $685.
2ll los q, for payment of funded aud
temporary debt ,S181 ,0S6, ,635 OF, making
the aggregate SS95.796,630 65, and leav
ing tie balance of S., ,329, ,044,21.
But the payments of the funded and
temporary debt having been made from
monies borrowed during the year, must
be regarded as merely nominal receipts,
and their amount S1Sl ,086, ,635 OF should
therefore, be deducted both from the re-
ceipts and disbursements This being
done, there remains as actual receipts
S7l4,709, ,895 So, leaving the balance as
already stated
The actual receipts and disbursements
for the first quarter, and the estimated
receipts and disbursements for the re
manning three quarters of the current
fiscal year, of 1864 will be shown in de-
tail byathe report of the Secretary of the
Treasury,to which | invite your attention.
! 1t is sufficient to say here that it is no:
believed that the actual results will ex
hibit state of the finances less favorable
to the country than the estimates of that
officer heretofore submitted, while it is
confidently expected that at the close of
the year both disbursements and debts
will be found very considerably less than
has been anticipated.
The duties devolving en- the naval
branch of the service during the year and
throughout the whole of this unhappy
contest Eave been discharged with fidelity
and eminent success.
The extensive blockade has been con
stantly increasing in efficiency. as the
Navy has expanded; yet on SO long a line
it has so far been impossible to entirely
suppress illicit trade
From the returns received at the Navy
Department, it appears that more than
one thousand vessels have been captured
since the Blockade was instituted, and
that the value of prizes already sent home
for adjudication amounts to over S13,
100000. The naval force of the United
States conaists at this time of 58S vessels
completed. and in the course of compile