, 1864-12-10


Total. 25d COS
Deductestlmated receipts from ordinary sources,
f39G 000% there will remain to be provided for By
loane, So es5G, ,0os To this should be added for
redemption of excess Of certificates OF indebted
provided for hy loans, $ae2 621 oo5. Assuming the
Correctness Of these estimates, the whole debt on
the 1st day Of July. 1860 would be 1onnd By add
tmated deb! on July !, 1865 s. 20 06f,Gz, giving
$a,645 so 6sa rs the AMOUNT Of the debt at the
close of the next faca1 year-
ceiptE a that assumed fOF the current year. It is
quite probable, IN the Judgment q The Commis-
Eiouer Of Internal Revenue, that $soo oooo,o 600 may
ont de additional Legislation suggested by him.
Should this supposttion be verified, and the new
ta1es Proposed ior thts yesr be laa and continued
inteseal revenue The Secretary has, however.
thouht It wiser to name $500 0oj, 600 as Ill that
would probably be realised,
ordinary for the last fscA year varied n1a
teFfslly from the estimates, particularly for Gus
toms 9nd internal revenue. lh's xa1,s9a 1s IN.
1t Its last session, increasing largely the rates Of
duty on foreign and dnmesuc articles. It is ap-
pretended, however. that similar reFults will not
The increase OF duties on imports under the set
June &c. 1sGi has already bad the effect to dc,
hat. estimating the remaining quarters BY those
wii in not be r. safe to c5Icuiate upon revenue from
customs much exceetIiDg SO 0;N 600 for the cnr-
rrnf wear. ia the fufirmcnt of the Secretary this
disndvantagc In financial point Of v,cw is more
dnmrstfc indt,strT md The consyoucat iacrcased
qerenne frnm list sonrce.
From internal revenue different and far EoFe
ssSG Of ns w e
rciyra frnm his source in he INST year S103 G0-
ssgs7. under tie sane law which in Ten months Of
1Ss ~ I,es law ,rf, want into 9neraton on he
~ ~ n,r last ior1elv inr,easfnr these uties al-
thouab II y1i nrnhabiv Iii to nrtduce The amoant
~ rtcnne m'I hpns1 fS, 10i1 NAV AZ not materisliy
chanced. toce,iicr viii, The specal income tax 5m
nosed b5 tise JOINT resolution 81 July ID, 1851, be
pposnerous' u The same Causes Wcb. under pre
cedfnr 1aEs. prodnced 20 large an increaec In the
feet to souae cstent. undcr the new law " 80 int
ut least the omoupt of S25 500 900 may be expected
from it in another year, without The aid Of q epe-
But Ibis amount Ii not and ought not to be sat-
isfactory Three hundred lni1lions at least should
I've realized from internal dulles. Il is for Con
eSf liz The sbe 1ssaf esa e m od aS
tained, and tue report Of the CommIsasoucr Of IN
tesna Revenne is referred 70 fos bis views on this
1sF sa Ts oa vas ene9
Jet.
fThe Secretary then makes the following RECON-
i. 4 commission to Inquire Into the sources and
beetmodes Of collecting revenue.
: . ta1 on on ,s tobacco in the leaf
4. 4 ta1 on ali incomes without exemption.
T. He suggests that but for the Homestead Bill
the public lands might hare been available, hut
may balance thle deprivation, The mineral lands,
however, still belong to Us; Renting them has
heretofore proved Improbable, but It Is hoped
! Congress may devise some means OF raising rev
| enne from them.
6, lie regards nj plans to establish einking
fond, 70 long aa e1penditntcs must exceed reEe-
From preceding statements 1t appears That ex-