New Orleans Republican. [volume] (New Orleans, La) 1867-1878, 1871-08-19

Navy. ...................-...- '.,.... 49, 431 900
Indlan bureau OBSERVATION-DISCLOSURES. I,761 900
Expenditures, including interest on the
DEBT. 292 IL 900
Expended for redemption OF loans and
treasury notes. purchase of bonds
tor the sinking fund, etc. 1870 735 900
The money in the Treasury, January 30,
1870, was $l49, sos, S67; the balance in the
Treasury, January 30, 1871, was $l09, 9l7. :
447-shOwing a reduction of the idle cash
amounting to S40,000,00O.
"The receipts from miscellaneous sources
include $780,, S29 from premiums. The
expenditures for civil and miscellaneous
purposes include $90l6,794 for premiums
Indians and pensions show special expen-
ditures for Indians of S7,7l6.502, leaving
the expenditure on pension account S34,,
l03, 800. In consequence of the change made
by law of July s, 1870, whereby the pay
ment of pensions was made quarterly
instead of semi-annually, the payments of
the past year have been increased about
quarters pension falling due within the
year"
The first thing that will strike the reader
in the above statement is the enormous re-
ceipts from customs, which amounted to
more than two hundred and six millions in
gold, which exceeds the sum ever before
collected in one year from customs. There
are knaves who would make siIaple-minded
people believe that this immense tax on inn
ported property was paid by the exporters
that is, by foreign nations with whom we
deal-instead of by the American con-
sumers. But the fact is, that every dollar
of it came out of the! earnings of the con-
sumers, with at least 500, 000,0 900 more for
middlemen's profits on the duties: for the
duties are added to the original price of the
goods, and become to the merchant a part
of the price he pays for them, and he
charges the same profit on the tax that he
does on the prime cost of the commodities.
1t is very clear that the tariff should be
reduced by at least $66,000,OO0, which. on
the same scale of importation, would then
yield Sl40, 100000 per annum. The gold in
terest required for the debt is only SllO-
100000; the sinking fund only needs
S20,0OO,000, making together $3.50 000, 000
and leaving surplus of $l0,0000O0 in the
treasury to be otherwise disposed of. A re-
duction of SOC, 100000 ON the tariff, with the
S33, 900, 900 of middlemen's profits thereon,
which would also be saved, would have the
effect of releasing the people of 500, 900
of subtractions from their earnings. That
would be kind of protection to American
industry which the people would appre-
ciate, and which would benefit every one
and protect every mans industry.
The expenses of the government are set
down for the past fiscal year at S292, 000, 900,
of which $l60,000,000 were expended in
payment of interest on the public debt and
pensions caused by the Democratic rebel
ion-leaving 100000 as the net or
binary expenses of the government, aside
from the interest on the debt and pensions.
During the present fiscal year the interest
account will be about 81, 0O0, 900 less than it
was last year, and the pensions $4,000, 900
less, on account of an extra quarters pen
sions falling due within the last year.