, 1877-01-05

LIS 0Iucln4 Statement VI luz l'Hollc Aoot
ut the close Of business, Dec. 81, shows adeti-
cit in tho revenue rs compared with ex-
ponditurcs during tho month Of Doconlher OF
$3,555, 14o. There was half million deficit
In November. During the sir months from
July to Dec 81. 1876, tho net reduction of
The debt was only $G,61s, 103. It should be
remembered thnt since July last tho Govern
mont has been running under tho groatly-re-
tluced appropriations mado at the last aes-
sion OF Congress-, and yet, despite these ro-
ductions in expenditures, the Treasury is
falling behind at present at tho ratio OF forty
millions year, from the very natural cause
OF decline in tho roveune, especially from
customs. The falling-olT Of imports, which
began several years ago, md especially OF
dutiable gootls, continues, aud laa At last
reached TINT point demanding Immediate nc
ton by Congress, OF the Government will DO
driven to tho aisgraceful measure of borrow
ing money in time Of peace to pay liz cur
rent expenditures, We give tho compaza-
two statements OF our imports, by which this
decline III tue source Of revenue may 10
traced:
init 49, s. Is i32 ls sss ssss M Ss is
1871. ............ 4U0 I'll, lG0
We have not got tic figures showing tho
proportions Of dutiable aud free goods III
1876; VIC present tho fguros Of merchandise
only, md .lo not iuclude tho sl'oeie. Tho
following figures, however, stata the amount
OF dutiea collected OH imports entering into
consumption iu this country fur several
years:
Ter. e,, H'',, %;h H., ;sg Ter ns!<; - ;so
III III is;S :.:. i4s 81, Ds III
1Ni4.".... :. l00, Or, as4i
1t will be seen TINT the decline In imports
continues, and TINT tie reyenua In the year
cntling Juno 30, 1876, was $4,000. 900 loss
than In 1876; $1.,500.0o0 less tlan In
1874; SIC ,000, 900 less than in 1873; and
G4,50o, ,0tM less than in 1877, decline
Of revenue In tho four years OF $1o3, 500, 900.
Since July the fallIng.oa las continued
to an increased extent, leaving the Treasury
without It's necessary income. Tho do
cline in revenue for the six months ondine
Dec. 81 will probably amount to geo, ,000, 900.
compared with tue revenue Of the first s;x
months Of the fiscal year 1876. Tho revenue
luced appropriations ulalo by Congress, ant
an addition to tho public debt will DO newt
ablo unless there be remedial legislation.
Tue failure Of the revenue, from tho fall
uro of imports, IL due to tho present e{sraor
binary condition OF our thrift. Tho mer
chandiso OF all nations has auHored largs
decline iu prcea. Tho values OF nearly ell
Rootls havo declined, but our enormous taril
remains where 1t was. Thus whcro M nrticl
was taxed 80 ccnts pound and 10 per cent IL
saiortn, and cost 81 per pound, the tar wa
60 per ceut now that the cost Of tho uticl
has fallen one-Lalf, the rates OF duty remain
ing tho same, the tax Is at the rate Of III
per cent, and Of course importation Of tia
article has ceased. The circumstances 9
! The people have changed The habit OF pu,
chasing without regard to cost, aud perhap
l Of purchasing high. priced articles IN order
boast Of their expellsiysness, has been large
t ly discontinued and men and wome
r low aro restrained and limited 4
. their purchases by the pEices asls
Q for what they want While .all the rest
: tue world have tue privilege OF buying ever,
: thing Ut the reduced cost Which IL uniYerss
: the people Of the United States find the ta
= on thu great bulk Of articles entering ia'
t consumption actually proAibisory,- ,-placiu
i substantials beyond their means Of purchas
g Each day tho prohibition becomes 1ao
/; stringent, and each day the revenue decline
y and with tho failure OF revenue there mu
:. DO an Increase OF the debt.
l. Tbs duty Of Congress il plain one:
t should without delay rcimposo the pseyio
i tax On lea aud coffee, which ought payes
j. have bssn repealed; take up the Moxzls'