, 1864-12-07

steamer Salvatore, at Panama, but no new
facts are given.
The chatter election was held to-day, and
but q small yote was cast. Returns thus far
ny candidates. -.
The Trensnry Report.
The Secretary Of the Treasury, in his report,
reviews the financial measures adopted since
the outbreak Of The rebellion. This Is in sey-
eral acts the authorizing the issue Of bonds
at lung periods Of payment Of principal at
maturity in coin, and in others not specifically
provided. The omission, 1t is believed, was
accidental, as there could have been no inten-
tion to make distinction between different
retary recommends that al doubts
be removed by legislation. The net
Of June last, authorizing the Score
tary to dispose Of any bonds known Is
5.20s remaining unsold, it is at least ques-
conferred to dispose Of the amount beyond
that fixed BY existing law. Additnnal lesis-
1ation may remove that doubt, should Con
gress think It advisable, otherwise they may
be cancelled. The Secretary says $500, ,000, 600,
at least, should be realized from internal du-
ties. It Is for Congress- to select sources and
deYisc modes In which the most desirable
the income tax should not be collected from
all without exemption. In connection with
the subject Of increased taxation aud the ne
cessfty Of providing ditional revenue from
ordinary sources, the Secretary calls at-
to that portion Of 1t abounding in precious
and other metals, which by the policy Of the
Government ha5 been reserved to the nation.
Hc hopes that Congress n1aybe able to devise
some mode by which these lands may be
made aEai1able to an extent in some measure
proportioned to their yearly production. He
nj 'f,fff 1rs,f
Sinking Fund, and whether such- income Us
may be received from the public domain.
from sales or in the shape Of rents or roys1tv,
may not be teneacially appropriated to the
same purpose As to foreign loans, he
tays the possible benefit to DO derived
other and opposing considerations. He docs
believe that our patriotic people struggling
for national existence and the possession Of
ample means, ,ehould not be compelled to a1oLt
measures 50 fraught withfinjurious couse-
quences as the issue Of paper money beyond
the limits prescribed. The question, howev-
er, is ono for that people to decide. They
war until its great object shall be nccoua-
p1tshed, in unmistaEablc terms It ia fos
them further to determine whether the nee
cssary means shall he furnished By wny Of
loans, and circulation. to be restrained with
in State limits, or whether they will prefer
to endure the evils Of exorbitant prices, with
loss Of credit on the present, and debt Of
endless magnitude entailed upon the future.
Notes bearing an incr ,ascd rate Of interest,
payable in currency, redeenable in three or
I'VE years, and convertible at maturity into
$40 bonds, would be preferable to any other
form Of security.
ANY estimate Of probable receipts and ex-
penditurcs for the next fiscal year must
necessarily be liable to uncertainty. This re-
mark applies more particularly to the expen-
ditures, for while tie existing laws remain
unchanged the amount Of revenue may be
calculated with reasonable certainty, it is i'm
possible to anticipate what the exigcncies Of
war may require on the one hand, and on the
other it may be confidently hoped that the
great struggle Is near its termination, and, !,
consequently, Gny estimate now submitted
will prove far beyond the wants Of the year.
While sny doubt remains, however, 1t would
be insane to assume any other basis Of cafcu-
lation than the one indicated by the existing
state Of af1nirs:
Receipts fer The year ending June %, 1s64 are
estimated Us folloW3:
from customs: ~ " XXI
FROM Internal Duties. 3GU.tu.t0o
FROM Lanue :.--..--..--.....-.:...:- lU,uH.NG
From miscellaneous sQurces. 25,W0, COO
AEgrcgate....-. .....-......----..$ $2ab, oou
The expenditures arc estimated as follows:s
BALANCE Of nnexpended appropriations $3.50 o0o, 600
For civil eerffce.... ...--.."..--." stu5s7 UIs
For Pensions and Indians. 1L19d,051
Navy Department .s-..........---.. 1l2sdJ,Gg6 l,
Interest On public debt. 1200o 900
AggreGate. --...-.......-.... ....$1-lhs,;2S6,Vo