Newspaper of Burlington Free Press, March 10, 1848, Page 1

Newspaper of Burlington Free Press dated March 10, 1848 Page 1
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Vol. XXI. Whole Mo. 1080. IIIKMX.IO, FRIDAY HloraVlWW, MARCH to, 1818. IVcw Scries, Vol. a Xo. 37. Jo. Vt Burlington free fkess. Published at nurliiiQlnu, Vl., Uy . w. c. ci.Auitc, Editor and Proprietor. r wii t Icrmn l o VillAirr subscribers who receive the paper by the earner $2 50 If paid In advance, 2 00 Mail sabscribers and those who take It at the O"'" 2,00 II paid in advance, . 1,50 Advertisements inserted ontlie. customary terms. B AMOS C. SPEAR, Apothecary and Druggist, TEALKIl iff Patbst and Tiiompsoni.w if Medicine, Oiemicnls, rtiirirjcnl and Dental In trumcnt. Mineral Teeth, Knils, Leering, Trusses, Mineral Vater, Dnucist' (tin-. Ware, Hrnshcs, J'errumtry. Soaps, l)yc-Sliifr,Caiitphcnc, Inks, Illuck inm. ite. etc. . Church street. Darlington, Vt. J. MITCHELL, M E 11 V 11 A X T T A 1 1. O 11 , !enrrnl llcndr-Mndc (Jlolhlni; Store. Cliureh Street, llurlinalon, Vt. urn i.i xa tox a a mv i 'i. run a l Warehouse mill Seed Store, ii v j. s. i'i:iitci:, j Con-lantly on hand n large assort- gJ tnent nfForniini; I'lcnsils, Cnrdrn "Ml " 1 1 1 i Implement, 1'ield, (iaiden and flower Seed. ALSO, DKALF.n IX STOVP.S, STOVE ni'K, TJIIMMIMix AMI JIIII.LOU'-M-AHK. roi.t.mE FTHIKT. II A G A 11 & A R tTi U 11 , vijf Dealers in Hardware, Drills, Piiiiits, Oil, Dye-Stnir-, Aie. iVc. eor.Ntu or envnrii and coi.i.rnr. sTr.rrrs. For the Free Press. 1. A little coffin scarce two cubits long, Was by four little playmate boys upborne r Unwonted badges on their infant arms were worn, And with unsteady notes, a mournful song They sang, that God had from their childish throng Withdrawn him, that he never might return. It is the tenderest of sights to me, These infant mourners in a world of woe ; Alas! how early arc they called lobe Partakers of the common lot below ; As the iinmoving, pallid face we see, To think how bright, so short n time ago, How gay, how lively, at his tasks or play, Was that dear boy, who now is lifeless clay ! II. Thou weeping mother ! I would scarcely say One word to thee In such an holy hour j Hut if I could persuade ihee, that the power Of keenest woe thou shouhlst not feel to-day, I'd point beyond' where i arddy tempests lower, To climes serene where cmst-lt'ss sunbeams piny. There has the liberated spirit gone, Disiohed of this vest he used to wear j Is it no joy lo thee, that of lliine own Dearchildrcii, one doih now in Heaven appear ! Come, let us kneel thou shall not kneel alone, And bless the parted, on his early bier ; Uaiherfor us, still lelt to struggle on, Miht such as hi- otrril a unless tear. Miy , 1SI7. Ijl'LLL. defiency of our means below our expenditures. This, Mr. President, Is a concise statement of ntir financial experience thus far, as will appear by thn following statements. And if w e add to this tho sum of $9,000,000, which I shall en deavor to show the Senato is an over-estimate of the revenue for the coming year, and the sum of 87,000,000 foruutlcr-cstimatc of expenditure for that venr, tho deficiency for three years en ding Juno 30, 1849, will bo 8104,000,000, or about thirty-five millions v year. Statement of the excess nf Expenditure mer in- come for Iwo years, July 1, 1830, to July 30, 1848. Ilalancc in tho Treasury July 1, 1846,80,120,120 Avails of Treasury Notes and Loans, 18 lli-7, 25,079,199 Avail of Treasury Notes and Loan, 1817-8, C,'iS5,294 Estimated deficiency in the Trea sury, July 1, 1818, 15,729,111 Add appropriation asked for bv Sec retary, not included in his esti mate of expenditure, 850,820,01(1 10,00 1. 841 Totol by Secretary's estimates. $00,881,890 Deduct the amount of error discov ered at the Department, say, 0,881,890 bo reduced. Your warcliouso bill tendered tn them tho privilege of storing their importation and retaining the duties upon them until they could ho withdrawn upon payment of the reduc ed rate of duties tinder tho new act. Under these circtimstinccs, a very great portion of the importations or the latter art of 1810 were thrown over for the payment or tho duties to the month or December. The result or it va, that there was a very prrat filling oft' In the amount or duties received in that portion of tho year 1810. Sir, I hate an estimate which will show you the effect or llieso two measures upon our revenue for the jcar ending June, 1817. The receipts for the months of July, August, and I September, 1815, amounted to eight nullum I eight bundled and sixty-two thousand dollars. Tlio receipts for Ihe same months in tho year 1810 fell to six millions one hundred and Alty finir thousand, making a dillerence or two mil lions seven hundred and eight thousand dollars in tho three months constituting tho first quar ter or the year ending 3'Jth June, 1817. This is shown more fully in the following table : Receipts for Julv, Aug. Per month, and September, 1815. 88,801,932 or 2,953,977 Same months in IS 10. 0,IM.820 or 2,051,275 03 Leaves true deficiency by Secreta ry estimate, 800,000,000 Add for over-estimate of revenue for current year, 8,000,009 J. .11. I. PKItKIiVS .U, Hini.iMiToN, r. CONSUMPTION. ASTHMA, AND LIVER COMPLAINT, OA N II 11 TH 111). i'mo deficiency, SOS.noouoo Or thirty-four millions per year, for two years. hecretary estimates tlettclen cy for tho jear ending June 30, 1819. 20,000.000 Add for over-esti- tnato of rcvniio. 9,000,000 2,708,100 or 0U: 0,153,S20or2,0.,il1977 of expenditure, not including Ten Regiments. not climated for, M. G. RATHBUN &. CO. M E HC II A X T TA I L O It S , So. a Peek's Mock. M ? Kvniirc & IV keep constantly on hand nn ' extrusive and lull assortment of (.'loth lor every description ufl'lothing ; and nn- prepared at all limes to Mipply e cry article in the line ol Gentlemen's Fur nishimrl roods, ; r.ATiiiuw. ". r. wAr.n. E. &z E." Bi Y Jl X X , PLW.r.r.s in Knglish, French, Ci-riiinii mid Americnii DRY GOODS, Vest India (ioods mid (Jrocirie-, Corner of Charrh mid Cnllrzr-SI. 3ga mJKLlXGTON' .UUtKW, jThr D Y W. C. HARRINGTON. MEATS, E1SII, AM) VVAIETAIILES, of every variety, Lakh, Tallow, (.'AMU.r.s &c. At the Corner of Church mid Collece Stircts. JOHN BRADLEY St. CO., Ill AI.Lr.s IX FOHR1UX AM) A UIUtlCAX IKOX, .Steel, Cut anil Wrnuzlil .iiil-, Spikes, Sheet Iron, Tin, Sheet .ine, Shot, Lead, T3rn Cliorfrirs. tFIour. Salt. Fih, I'lattrr'l'aiiitK.Oilx. Dyr-irooih, Tar, Vilch, Jtosin. M toitoir ItrMs, 1 'tz lion, I oiii,jntir MiltSlotirn, Bolting Cloth; ifc. Jsc, 7,000,000 10,000,000 30,000,000 81oi,ooo,o()0 SPEIX'II OF JUDGE PHELPS. Ix Slnail. Jan. 27, 1818. nn: and thi: rum.ic financls. The Senate rojiniiH-U tlic c.isiclcration o( tho I Umer.cslimic of lllll to nll.-u lor a iiuikuu iiuiu nil uuuiiiuiiui linn- i turv force. I Sr. P1IKLPS said : It is not my purpose, sir, in addressing the Senate at this time, logo into , an inquiry us to tho origin of this war, as to its . merits or' demerits ; nor, sir, to inquire where the blame rests, provided there he blame in its commencement. Ihe important question now k-fore us is, lir-t, how shall this war be prose-1 T , for lree (tifiiil tllnf n-trnlll' tclnlii tt !; 'lint tllwUO fill - how can it be terminated ? When these ones- w,at u ,Q ,)0 0Uf flUuru ,,,.;.,, .IHI-..UU - y endition ? I will Kuhmit another estimate, ry ...ri..., ....... ...v.. wlljch fa jmcll,01i , fUtm. t)le senate ouiseives wnn me iiiiiury, who oven in tilt I In looking dent, as it now pre al unction, the po his been plea-ed to place me, very naturally Irawti my attention to tliu tin aspect ol the question, and I havu e-teoined it to bo my Inly, alter Having uevoteu ome utile attention to the subject thoui;li not indeed so much as I would desire to do to lay before the benato tho result of my iuetig.itions. I am aware, sir, that there is no amusement to be found in this inquiry; it will be perhaps, not very interesting ; out, sir, ii is mi niuoiry which is noi iu uu .i,otu- ,,. ,t, .. ,.e ,.t.i:rt eu. ll is ii mailer ui uusiut;?a uuu u. ni.viiei ui . . . , ,;,.., ,j r r ,,i .. I in I JllllH.ll. "I It. t.1 MU. tUI 1,11,1111-, l. i uiu opepssilv. . .. 1 .... Nuw, sir, if tills war is to lie prosecuted fur ther and such terms to bo tho fact as ct a Difference, Receipts for first quarter of fiscal jear'dli-7. Receipts for ( Jctober and Nov., IS 10. Difference, 1,207,837 Why was this ? Was there any thing in the commerce of the country to produce this decline i in ine revenue cing ui pros) uniiuestiiinal which I have alluded. Tho revenue fell off bc- lielieve my honorable friend from Rhode Island cslimitcd It atone huti-lrcd and seventy millions. lie includes In his etltnifo the gross amount nf importation, Including free goods; my esti mate ts ot (iiuiauie gooos only, it I recollect aright tho average rate nf the exiling tariff i twenty-two or twenty-three per cent. Now, such an importation exceeds the ability of the country. Such is our present situation ; and what arc we to expect for tho period included between this and the 1st of July. 18 19 ? Your necessities for money, your exorbitant demands fir loati, combined with tho operation of the Sulitreasiiry and its specie clause, pressing with combined action upon the money market, must perpetuate this state of tilings. Sir, I have been comparing the estimated re ceipts fiir tho current vcar with those or tho hist. I havo remarket! that in these calcula tions the data aro denied from tho results or the past, from tho estimates or prciioits years; and I have remarked, further, that during Ihe year 1817 a great part of tho receipts consist of re turns which properly belong to a former period. Now, I ask, on what ordinary calculation', in view of these circumstances, tho honorable Sec retary raises bis estimates or tho receipts from twenty-four, tlio iictual reconsiderations furnish a basis for such a calculation. I have taken some pains to ascertain how the honorable Secretary arrives at it. It is this : IIo takes in tho first place tho receipts Tor the l,GS8,l8Uor 8 1 1,1 10 , first quarter, for July, August, and September. T men o rn nrnK inl.l tin. .u n it .loll ll-n years Bales, wo aro presented with a gr.tve cat-stanco; not merely to discomfit her armies In culalioti of nn increaso of a million of dollars the field, but to displace her whole gmernineiit from this source. I line may pos-ibly bring this ',.,! citil arrangements ; and. in the langiMgcot about. 1 ho .Secretary of the 'Jrcasury may he ! tho honorable chairman of tho Committee tut able to sec further than tho rest of us ; but, Military Affair, to occupy mid retain ull her po. whether it may ho brought about or not, in my silions, military and political. WII yoilroxpen. humble judgment such an estimate is not lobe diturc bo diminished I Upon what principle, considered by us on this occasion as a satisfac- then, is it that we aro rurni-hed with an estimate lory bisis for our action. fur l))0 ccimj, year, which falls from ten Ui I tnut ndd, then, to tho Secretary's estimate t elvo millions short of tho ascertained expend' or the deficiency the sum or seventeen millions turo or tho present 1 or dollars being an oer-estitnalo by him fi.rl 1 add tho seven millions, therefore, to envn' the under-r.iling or expenses actually estimated lor in tlio hr.-t place. tlmsn fti..tiii.tii.nj CV..... Il.n ..t!.n .. ..C . ui.kiiun- iii.ui mv L-iinii.iii;n ill recoipis into the public Treasury a large sum, I admit ; but ir jrentlcinen will give a Utile attention to the subject, I think they will como to the conclu sion at which I havo arrived. Sir, there is another branch or the .subject which I desire to notice, and it is this: The ex penditures ol the current jcarare estimated at tilty-tix millions of dollars, exclusive of payments on account of the public debt; but, as 'I h.ue already remarked, tho Secretary informed us Ht the commencement of tho session that an addi tional appropriation ol ten millions was ncccs-a-to cover tho expense for tho year. A question then arises whether these ten millions are inclu ded In the l!U)-;l. millions. It has cot me much trouble to ascertain it, hut it is not. Of In the second nlnce I include in that sum n variety of conlinpenclcs lift estimated for and Lot susceptible or previous estimation. Such us the loss and destruction of military rtnrc, provisions, and other property by the ordinary modes or destruction as well as the casualties of liar. The Commissary of Subsistence tell u, in giving the causes of tho deficiency in hi-t department for tho current year, that, "oivinP) the nature of llie climate of Mexico and the im perfect store-houses, (the articles of stibistenci,' being perishable,) much lias been lost from de Cay and wastage, as also from wrecks during' transportation. 1 linillv. .no estimate is mauo tor lite commit" course this additional exnellditltrn must lin ml. ' tulimi f "inn. I linonliiis bv thn rpepolion nf ninnn ded to thi! Secretary's estimate of the deficiency, iiisteail id land at tho option of the soldier, an- Hut, sir, let us look a little further into this. tbotized by the act giving bounties lo your sol- The wholo estimated expenditure for the Cur- iliers. This item is not susceptible or accurate rent year, as given in tho annual renort or the estimation. were getting returns fiir our breadstuff. He , Secretary at the last session of Congress, (l)e-, Fourthly. There is no climate for pension! then proceeds to tell us that, as'iimlng tlio rev-, cembcr, 1810,) was forty-live millions or dollars. 1 to lour wounded and disabled soldiers ; an item eniio of the first uuarter to bo an average of the Tho actual expenditure for tho saino vcar. as of "no inconsiderable magnitude. How nvinv line Was not the country ndvau-1 year, the proceeds from customs for the whole now ascertained by him, (sec his annual report pensioners aro to lie bililed on the Ti.iury, aV sperity during those years I It was j year will amount to Torty-livc million. It is to this Congrcsi,) Ls fifty-eight millions ami a one or tho fruits or this war n man can tell, ably tho effectof tho measures to enough to say of this calculation that thchonor- fraction. Hero we hue a difference in the two ! And, lastly, I take into considerations the tn! .o alluded. Tho revenue fell off be- able Secretary himself discards it as the basis I estimates for the prc-cnt vear one inado at the ! cell.ineous claims of citizens for services render- cause the importations were plired in ware- of an estimate, lleing dissatisfied with tlio re-commencement and the other at this timo of ed, property taken or lost, contracts unfulfilled, houses to bo entered upon payment of reduced ' suit, ho proceeds to ascertain tlio relative pro- thirteen millions of dollars. j &c., which" cannot bo estimated or enumerated, duties. Well, what next? In the months or portion of tho revenue of the first quarter of tho Sir, the appropriations made at the hs session 1'hose wlio arc familiar with the expenses grow October and November lour receipts fell to one year as compared w ith tlio revenue of the ear 'of Congress for the service of the current year ing out ol the Seminole war can fiirm some con intlli.iiie I. .,,,,l-...l ...,.( :..!.... ... ..I., , i :. r it. .1.... ..!... .i.. I .,.i:.. !.... -io iuioi i.ii . . r r ...i., ....... I, ..,, i, I .... .i.ij ' 'n" i.s 'i.s.i niiu vi!iii, i 'ii'i- iii..ii.ihi nil it LI. Ol Uiirs. J1U llllis ll.sccri.lllis initi ivniiiuu ..nn. o, ioii UACL'eueil OV UIU sum Ol ll hiuii u. ..inn. nisi wi. i.uit,ns ,iuui tins ( nearly nine millions the Secretary's e , as submitted lo Congress at that sessio LIVERY STABLE,fq SW 1II.ACKS.MITH SIIOl', ByS. S.SEINNER, II.SO Kinl.llo. Harnrss nml 'I'rniik Miiniilhcliircr, Kant iit Court-home Squaie. LIVERY STABLE, hy ELLIS AND CHURCH, V"Uec Stmt. J. &. I months from this time. I commence with the deficiency as dollars, or an average of eight hundred nnd the first quarter is most productive, and, by re eighty-four thousand dollars per month. During ducinir his estimates iu proportion, lie brings Ins , as submitted to Congress at that session: and the months or July, August, ami September the calculations down to forty millions instead of ycf tho Secretary now asks an appropriation of duties averaged two millions liHy-one thousand forty live. Hut ho is stil dissatisfied. The next 1 over ten millions to cover deficiencies. It is and a fraction. The effect or those measures, 1 step is to ascertain tlio revenue fiir the five proper for inn lo add that, as near as I am able considerations ? then, was precisely what had been predicted on mouths next pievious to the, 1st December, 1817, to ascertain the actual expenditure or the year, i Rut this is not all. This bill proposes to raiJ this floor. Jt was a most extensive hilling off in which ho tells us amounts to 15,500,257, or a seven millions only should bo added tn this c-ti-' ten additional regiments. Tho expenses of this the income of tho country, until tho period of little over 83,000,000 per month. Intimating' mate. This will carry that expenditure up to force is not included in the Secretary's c-thnates. the first of December, 18 10. arrived, and then the revenue for the twelve month at that rate , more than sixty-fivo millions. What will they cost ? Sir, 1 am not enough of your revenue increased, and that increase of re- fmnkiiitr nrnli-iMe mi illimiiiin f.,r ilm nrminr Tim Minn of seven millions. It will Ln r.i.rpniv. a militarv man tu determine with nrecision. I to what 1 ,tIlnl ",,s wun llll,lll!hl SH"lcl!lt nniwrtance, productiveness of the lir-t quarter) ho would ed, is added to Ins e-tunate upon Ins own author iiinniint "i"' '" '"' P'o-ented to lis very formally by make the revenue oftlio vear amount to 35.000,- ity ; that is to say, his estimate of arrearages 01)). Hut hois not satisfied Willi this. What of the present session, and his demand for lur next I IIo ascertains tho recelnts for the last thcr appropriations. .1..1... .. ... . Il. . . ! !..! .I1.C . ...I I t 11 1 . J 1 1 rill 1 1'li'is is mv obi el .ii.hsi ,n 'iu.-iiri m l-aiiiuh iu uiu iiv o uiouiiis oi me live, V lz. wciooor nun .ovein- i ne nexi pariiuuiar in my iau:c oi corrections io iiireu ouiiureu uiuii-iiiin uuiiiirn. i no uoun- j ins i m nujiti. . I comilrv at laroe the ln till i if 1 liw imnrnv.iiiii.-iit Imr t n I iii V'l Hill flfUl . t. nml iiJimfnj' rc llir S.irrnt"i ri inn (n ij llm !f nm is? c , tina fnf ntin tltnitn nl tnnn fi ninti nt in Si 1 (1(10. '".'I iru v-uuivuu ((VI llli'lllll t till"! Wi'llllKUn vi.i.iviiiij tit mv. in. Ml vi i.iu........ ...... ....,v v -') "-" f king at thn question, Mr. I'iosi- . , ;ll i,,, , i. ..: . i ... . tlio .Secretary ol tho 1 roasury, hut to bo twice h . il . ol t uoney will be neces-arv to to rai-ed i pop roni,.,,,i :,, .i... nrilJ: J . pre-ents ilsell to us. as a orach- .i iv r. .i - , r i .' repe.iteit in tlio rresiuent s message. 1 1 ... . i i .i J. . t ie pub ic credit ui on a penod of eighteen 1 if i, i, ,.,-p i ." . " i,. . io posiiioti iu which tho Senate i ,'. r , ,i ... n .' Sj . , " 11 11 matter ol boast ng to exhibit to tho ourcc. Now, sir, am I right or wrong in adding this urn or seven millions to the estimates of expen- litures for tho coming year iu view or these find that the pay and subsistence or a regiment amounts to about two hundred and fifty thou sand dollars per annum. The additional" expen ses ol clothing will probably carry the sum up JJ .. i ' c Ir)' !lt l-irj-t tho value ot this improvement l-T-lllllilirtl ,,, Lt. . .i :.i.. ..... i .. . . ... , , . . .,t. ... . r. .. ' I ; r .i i. I .1 i ;.! - -I.-... .1 Lii ,l.n SJ, ,.,..., ..I' ll.trl.- wiv i.iilllinis on Hi.. ' ., ... '"-- "" 1.11111, nv iui ll uu; rocoipus lor lliu resiuue OI llie Ilscai vear ai millions un unul-i-vmiiimiiu Ol uiu i.pcooilliro aim mc v.pvn-L.- ui n tuuiui; iu muui uk s.uiiu. uy in.,, in iinii) . i. iiiiiiinii-on uu. .,.,. JJut, if It inti'iiiloil tn lo:id lis tn ll 10 ill. rfili. "Ii tl.t L.i -id. lj ll... .if.lii..1 r......ti.i thn i-iiiAinir lisr:il io:ir. from .Inti- 1 1IN fr. Tho cost nf riiUinrr :i rpirimpnt .ntlit tr.insnnrtinir ' juno Jii, lai'J. ii io ue me scene 01 action win not, in my opin- These expenditures aro estimated by tlio Sec- ion, fall short ol one hundred thousand dollar'. I rotary at the siininf A55.G1 1.UU. In wliat li"ht . This ives vou an expenditure or rour hundred I are we to regard these estimates ? Sir, ail ex- thousand dollars fiir a regiment for the year, or ,257 perience shows that these estimates are too low. fimr millions in the aggregate for the troops to ' 30th June, 181!). In addition to that, an oicr- i estimate, as I belieie it to lie, of the revenues for the current year has been made. In the first place, 1 deduct Irom the Secretary's estimate the sum of seien millions, estimated by him to bo received from customs in the current vear. I also deduct one million from the estimated re- I deduct lerence that the increase or revenue is to ennti- of the first quarter, and it "ives about, tine, I beg to dissent altogether from any such 000 for the year, as will be seen by tho follow ing lauie Actual receipts for five months end- conclusion. Sir, a comparison has been made between tlio year ending December lt, 1840, and tlio year ending December 1st, 1817. I'or what purpose is the li-cal jear abandoned, and the computa tion or time made from the lt of December, iu one year to that period in the next year ? Doubt- Leaves for October and November, ing December 1. 1817, annual report deducted, 15,500, 11, too, Receipts for tlio first quarter as per i Vear after year Congress is called upon to sup-, be raised by this bill. This esllmato is, iu my ,'..57 Piy iiencier.cics. 'i ins is not to ue wondered at. i juugmeni, a low one -, aim a J1".1' """" i"'". i'-"i ""'" less lor the purpose of cx iiti t hl' the onerat on l()r an nv.r.i..n of ' oiin nun Icduc.t for tins vear also one mil. ..i t. ...-:.r ...i.ti .... . ;. .. .. B .. V.. V I ',... very important quo-turn an-es ; hat effect will it havu on the financial and commercial in terests of the country .' How are tho means to be obtained for its prosecution I and how are these means to be obtained consistently with llie 3 ". """try nt lurne r rsir, 111 de mon: , a,m. .."".unrui,, "'- "' I of tho new tarifl ivhich went into operation on K-limatiii" !) months at that avera " . .'. . , over e-iimaie oi me recoipis iro n tllu t December, 1810. Hut, a, 1 have already Add actual receipts or f.rct quarter, nlllilic. l.lliils. I hiKfi ilmlnplinns ni.iv- tinnnur 1n .1 1 .1 11 . 1 1 1, , , " "rr-, I, 1113 revenue belonging to the latter rsenatorsto be largo Ihey may create an iin-l pilrlll the year 1840 was thrown upon the sue pression that Ihe object is to present our linau-1 ci.c,Wr months w hen tho new tariff bill went into operation, and this presented an accumula ply ilelicier.cics. Tins is not to bo wondered at. i judgment, a low one ; aim as 11 is 1101 inciuueii It implies no ccn-iirc of the officers charired witli in the Secretary's estimate, I add it to his coti- 4,100,000 tlio duty of furnishing them. It is natural that 1 mated deficiency. every head 01 tlio t reasury Depigment should ' 1 nave no otneriiem. ineoecreiaryinciiines cial affairs iu their worst aspect. lint, sir, I am confident that an examination nf the est!- lion of revenue during those months. Other the honorable Secretary age, 19,800,000 endeavor to put the be.-t u-pect upon the linan- in his estimate of receipts fiir the current year rler, 11,100,257 cial affiirs of tho country, and heads of bureaus the sum of 80,231.29 1 as avail? of loans and and other will reduce their estimates t reasury unies. ui 11113 sum ue reports ji, (lives for the year, 30,!I00,257 of expenditure as buy as poible. Judging, 202,020 as available on the 1st December, 13 17, Or in round numbers, 31,000,000 then, from all pa-t experinece, wo must rec-ml by which I understand that this last sum is yet Here you have tho basis of the estimates or thesu estimates as railing short nf tho actual ex- to be borrowed. 1 uieremre carry 11 to tne a- M...l:i.... It... il, ...... ...... a.:.i r ...... mnnnl I in sums In tio ralsoil niilliA rrpi it of 1 i. . ---.M-H. 1' uu- r.l SJ 1 I 'l.l .......... ....u.u.vii.k..i,. ;iiiiniiiiii.-, i.ii.iiii.'ii.-iiit.-'si'i-.-t.i.ii icisiiii, lor it 11- ..I"..... .." - - -- - - - - termining this question, the lirst inquiry will bo, j ".,Ue;, " 1,10 necrclarv, coupled witli tho expc-1 circuinstaiiccs combined to swell the revenues Now, tin! Secretary finds Ids receipts rr.pi.lly lialfttiii no exce-s nf expenditure for Ihe com- tho (Jovernmcnl. wuai uas ueun 11s i-ueci inns itr nnu wncn wo " ' i." 1 f l .-."...., ....m ,nU n-j at Uie t0.u 0 mat year, x he peculiar Halo 01 declining became tho inipoitaluiiis are declin- ing year over and above the present e-lim ites ' I lie result ol tlioso corrections ol the beCit' havo ascertained that we may perhaps be able f"" "'.'''" '.co"! ",ry.' wl" convmco the things iu Kurope, the extraordinary doinand for iug. It appears, as heretofore stated, that the I.' t me advert to the report of the Quartermaster 'ary's estimate is then an over-estimate of the our productions, and the increased importation 1 receipts lor the tirst quarter 01 ine current year iieneral. It will he borne in mind that this olli- receipts or reieuues of 1517,000,000 ; an under' to judge what will boils effect hereafter. Sir, ?U"'"T ucuuciioii is hy no means too Irom the best computation 1 have ueen alilo lo ., r , . make, the Treasury has fallen iu arrears within the past two years, or nearly two years while 1 this war has already lasted to nn extent not much, if any thing, short of seventy millions of dollars. Yes, sir, from tho he.-t computation which I am able to make, the revenues of this country have fallen short of its expenditures for liciency, Juno 30, 18 ID. S30.000.00d Add Tor over-estimate or revenue liz; From cus toms, year ending Juno 30, 1818. S7,000,000 l'liblic lands same vcar. 1,000,000 coi ury uaiu jai cu & in t ui is i-Api-nuiiiiius ,1,1 ., - thepas't two years to an amount' not much, if X-JnnTi) I'st any less than seventy millions of dollars. Well, .. 1 7 f '"ei J '8"' ?' sir, I will submit totho Senale certain estimates, l'lM'c '""' car- J. H. PECK fit CO. wimi liltr. IiF.AI.I.IIS IN H.WVTN. f.N. (II. ASS. XAlhS, Urnds. l'orcign nml Ainciicnu lion, Steel l"ls Iron, Cant. Tur. lioltiiis Chthi, Plus nnd Carendish 'Po borco, jfj.Olin, nnd l'orel'.'ii nnd Western SAT.T. A"cnls for the s'dc of I'airbmk's Scales, Adam Smiiii's Iturr Jlill-Stows, Lorillard's Mnccohoy nnd , S"otcli Sunt, .SniokiiiK and John 1 cck, 1 chewing Tobacco. Joilt II. rtCK, ,1 Cissies l Teck,) On the SiuarcCnUmr s'lwxwmtn'x. Co. l;CVI.l.r. IV 1ANCV AXU ST.Vlir. zrtTiTv-XZZZXJ CAllPHTINtJ, HUSH COOOii JlnttiiiK, H..S. I'hur Oil Chili, H'iikoh' iS'i.;(cs, 1'iipt r Hang- 7.I...I. imr tittlwps.iif III! Ml( s. l'lovvinall'lne, I.iaht Hluc nml While Crnnilc twenly-six millions of dollars, and that during 8.000,000 000,000 which will conclusively prove this result, and 1 shall endeavor In show lo tho Senate, if Ihey will I give mo their attention, from data in my posses sion, that this result must inevitably be pro-' duced. Sir. in the first place, at tlio commencement of the war, or rather on the 1st of July, IS 10, 1 after the war had been for some six weeks in existence, there was then exclusively of the I expenditure's during the short period tho war had then lasted a b dance in tho Treasury of onwards of nine millions of dollars. I find i from the several reports or the Secretary or the Total over-estimated, $17,000,000 Eur ihort Estimate if Exjicndilures, Amount of deficiencies Tor which the secretary asks appropriation for the cur rent jear 111,000,000, deducting excess of ex penditure by his esti mate over existing ap propriations, sav .33,000 000. ' 7,000,000 Under-estimate of expciv Treasury that the liovernnient lias borrowed, iu dilure for the li-cal year, Treasury notes and stocks, issued during the I ending June 30, 18 1'J. 7,000,000 li-cal vear ending the 30th June, 1817, nearly I' or the ten regiments con- w A 111'. also. China and (ib-s Wore Gkocf.kius, l''uns, lln Kohls, &c Church Slrert. Strung) Wuuliltlc te Co. PK.ll.r.l'.S IV 1II.VVV AVI) SI1I1.F ..1. 1 m.n.egZJFt Cutlery. Saddlery, Me IHA RD IvpEI cbnuic'sTools. Ilousf Tin-fifti-J is!nns, Nails, (ilnss, Win. dow Sash. Iron. Steel. Tin l'latc. Sheet Iron. Wire. J'AIXPS, OIL. l-I.Ot'H.S.U.T. PLASTKH, (.rind NI0111-, Hiy (itot'eric. Arc. fiencral Agents and Coiiunision Merchants, a. Tiio.Mrso.v, ) i;ai Side C'o'irt House Square, w. 1. . stiionu , ,,,,,, U. 11. uoolittle. ) Church and tollrne-Klrt. teiupl.ited by this bill, not ol cour.-e included tho current li-cal vear they havo borrowed, in j addition lo this, six millions two hundred and t ..!.!. ic.Im .1 lliiiii-fiiiil ifnllnrs. Tho Soc.rotarv of the Treasury trlla us that at the close ol tho I'or loans available, already by the Secretary. 1,000,000 (.i:oi:(;i: I'ln ritsov, IIEAI.LR IV current li-cal jear there will be a deficien cy in tho Treasury of nearly sixteen mil lions. 1 take tho original report or llm Secre tary, though I am aware there has been u recent correction of that report. The-e sums, the ba lance in tlio Treasury July 1, IB 10, the amounis borrowed during the two succeeding years, and tho deficiency anticipated at tho close of the current li-cal year, as estimated by the Secre tary, will amount to lilty-six millions eight hun dred and twenty thousand dollars. Hut this is not all. At the very commencement of this .DIIY ROODS, authorized, Aggregate, Deduct error in oflicial re port, Total to be raised by loan, over and above the reve nues oT the country. 1,000,000 ng Ihe lirst fiio fur tho next? In his letter to the Secretary or ceipt; yet to be borrowed; and tho deficiency !si3,7l)2,0S5, for War of November 15, 1 S 17, ho says : of 30,000,000, as estimated by him, which will $2,200,000, tho "Tho e-timitos which I submitted on the -Itli make Ihe whole deficiency ol revenue on the consequent on tho exportation of those pioduc- amount to yi 1 ,100,1 a 1, or equal to ij.f, iiu,U8.i cor asl.s an appropriation of live millions to cover estimate of expenditures of 18,000,000, or 3 J,- tions, tended to throw upon the latter part ol the per month. 1 no receipts ior wciouer ami .10- a oeiiciency 111 ine appropriations tor tho cur- uuu.uihi in all ; In which are to headded the sum .. . 1 . . . .1 ' I. : I I 1 C .1 iUI'1 IWin ...... ...nt .... ... VTl... . -I.,... 1... I' 1.' .. . . nron,mi nm ... I .. .1 ...I ! l.l . ... . .. year a largo increase. Ill snort, mo year ov- veoiuur ;uu i-iu.u n. .jw,u j".. inynui. ""ijim'. ?ii.h i'vi m. .iy i ins esiunaies i?i,wj,yw uiiionen in ins estimate ol re- tweeu December 1, 1810, with the aid ot the i inn we n ivo a i tiling on uurio warehou-iiiir si'siom. liornnf.'d the revenues of month of tho li-cal year Irom f the preceduiLr icar. and. in cnnscdiienco ol the July, AugiM, and September, tost excesne importation urowinc out ol our in- average ot uutouer, or a tailing on oi .ni.juj,- instant lor the semeool tho next fiscal year wore -jutli June, IS1U, or tlio excess of expenditure. creascti exponiiions aiiinipating llie iiiiure ouo per momii. i iirittu out iiom u u.i ueriveti jrum llie experience i.f nevonu our income, amount to the sum ot 875 .. .. nl. ..f ll. -.. '.... .' . .1.1..... 1 III. nl .niinmnl l m..,. .nnln. ,i l.n I.mi. I ..... . I.... 1 l - nruinwi ' i,, in nn.-1.11111111 , it .tuiicipait'u tot: luvuinii- i. i ii". iij....n in. iu .vi .?i.M..ii.i mi" ii I.,' . y .' .iiiimii nivimn i irive care- ol the succeeding year. .Ve we to suppo-c that me tliat tliis decline must continue? Is it not fully re-examined every item, and in all depend- liecaiise there was an iucrtase of duties during upp trout that there is an overstock of goods iu ing in any degree upon my own action, or that lliatyearlhat increase is to continue A mo-, the country, and is it not well known that the ol tho officer of the depirtuient, I lime mineom- uieiil s attention to lh subject forbids any such ( scarcity ot money has induced importers to siil'riiiteilluction. Whether these deductions conclusion. What chum-i me to operate ? In countermand their orders for goo Is? Sir, we be judicious time must determine. icnuld not the lirst place, uheii this ir-eat importation toot; have it Irom the l cry he.-t authority. i cue ienturt.1 tu mnl.t them lull tur the fuel Pull tint place, me country was prosperous : money ( ndor tlioso circumstances, although there s",sit ij Unnareis will lime lrmimled before havo been le-s by that sum. I therefore deduct was flowing iu from ; notwithstanding may ho a great influx of revenuo during the fir-t ( lli-cxpir.iliun if the fiscal mir for u-hicli theesti- the amount from the above result, which leaves tins great importation therevas a oiiauce o: quarter ni too year, ll is apparent that it is the money coming into the county' to the extent or mere effectof tho accumulation of revenue in some tnenty or thirty inillioiHol djllar.s. Whit tint quarter for tho reasons 1 have m "nlioucd. is the condition of the ronitnr now ? In-te td The very fact that your imports, and, con-e- or having a surplus of capialyou find a strut- qiiently your revenue, are increased iu one por- gencyin Ihe moi.ey n-tcad or astir- tion or the year, mu-t lead you to expect that it plus ol, tho burpliiot .1 lenod oi pros- will decline in other portion 000,000. Hut it lias been stated to us that there was an error in the Secretary's report of the condition of the Treasury of nearly seven millions of dol lars; that sum being in the Treasury but not , included in Ids estimate of means, and conse quently his estimate of deficiency should iwti.'s iwe snhmiltnl Imrc Ocen wide. ' the deficiency, on tho 30th June. 1 s in. at ih.. Sir, this is significant l.tngii ige. In plain sum of lii,(l00,000 ; and iii this there is no es Ilnglish, it means this: tlio estimates are too Innate for tho provisional force of 20,000 volun small ; Ihey are not to bo relied on, and would teers contemplated to be raised, not be submitted were it not that tlio se-sion- 1 This may appear a very large estimate, hut it of CoiiL're-s will intervene, and opportunity will is justified 'by p tsl experience. I stated totho be all'irded to as; for further aooronriniiiiti li... Senate, in tho outset of mi- romnrU ,1... , it. perity lias sought iuvostiiioit in virions ways, j Now, I ask, on what principle it is expected , foro the expenditure is incurred. With the ex- excess or expenditure hitherto has been from A vast amount h is bjon iu.eiled uid is in pro- Ui it the amount or the revenue from imports this j periencj ol the prc-cnt year, (a deficiency in the thirty to ihirty-livo millions a vear arriving at ces, of investment in railroidi lift million,, it year ll ill exceed tint of tho last I Sir, tho true I estitn ties of this depirlineut of live millions,) the same ronclu-ion as the Senator from Uhodo is computed, iu Now Kngl tm! alone; in mum- rule of rnmpirion would Iu lo Like the li-cal I and on e-tini tie thus qualified, explained, not lo 1-l ind, although by a different ptoccss, If such f.tcturing enterpri-esand iu yiur pubic debt ; a , year ending 11 of July, 1817, although it went say apologised for, whit aro wo to expect as the lia- been the deficiency heretolore, what i.'to bo i.i-i nininiiii is uu-uiiiuu uj f luua m n .ni , .1 nnu cni'iii in n.-rainiu,! int.- ji.i, niviii ui resini oi mesu esiunaies lor Ihe comiii'r ) nerealier f 1 on propnso a more exten-ivo plan out I us w.i s in o imvir tnti.i n rii silsiiiiniliiil ilnt-tinr 1 ll.irinn .ill .i.i.ii i.m i ,.,i il.. i.. . . .it ..r ......... i: : . . . . . i .1 - : r. -.. ... ... j...... .... .uu i i,,u u. ii-iiuitiire win ji i h.i.uhih- .m uu-n'.isi. m your siantun 75,000,000 7,000,001) 03,000,000 III thisestimato no notice is taken of the out- standing Treasury notes, which may and pro- rioid curtailment of the cunency mil a striu geucy iu the money inarkit ttltuo-t uaoreledent ed lias eii-uoJ. Sir, aie we serioiisl; toc.alcu late in this st ite of things upon tlu cuitinuaucc oftho Miiis commercial ucliiity, tlio jauu state of revenuo , Hut this is not all. Tho unusiij importa tions, stimulated by the increa-ed fonund for our productions, hai'c thrown into tin country a greater quantity of goxls than wee wanted. There i- a siirptiis of goods. The importations incre.i -ed some thirty or lurty million of dollars. Well, if there is a surplus to tins an nint there the intervening time between the pissago of the act and tho time ot its going into operation. Well, sir, I will not pursue this branch of the llbiect, largely exceed tho estimate, as it has dono ln.rn. tufore, To wh it extent the Qit uternnster's estimates were reouceii at ine suggestion of the Secretary, my by ten thou-and men and u' provisional I'orco of twenty thousand men. Sir, you have thus far carried on this war un der iho most fiiorable circumstances I was hecretiry a half millions as the proceeds or the sales ol the public lauds. Well, -ir, during the past year your sales did not reach two millions and a half. Upon what theory, then, is it that tho Secretary estimates one million inure from tlio receipts for Totfclher with a Pirije vnrieiy nf oilier arlicli: nu:r doou xoRTii or Tin- toinr uorsc New Yotk. IliiMun. uiul l'nr well's I.mlicN "d (Scntlemen's llools ami Shoes, ol every description anJ st)le,i'uutauilyou hand. More It door uoith of hirrlif; and ilirrrly (;jio ite D. lrm';near llou-oid't Store, Church tj. nil VIV II vinnnno 7fJ who i.' iiuiiaiuu, is no ludiiceiuenl lo import ; and, a-i I hive at- i hive yet io leant. 11 is a point which i am IIUl Jll li,lll il l" Ult.iu-, sji,iii3i; i..ii 1-..-U iii, re.isuu at all for such an estimate ; and, unless reasons aro presented from soino other quarter, I sh ill still ha incredulous. 1 deduct, therefore, one million from the estimated receipts irom the session wo were llilormed ly Iho riccrelary mat uauiy win aosoru tne re venue to a givm i-mvih re.tuy rrm iriti-u, nu mc iw him: w iiiiuu-ii. ll,.,.. ii iliiiii-ioncv of nonriniriatiim lor the and make a further resort to credit necessary. I Nor is this all. If the cour-e of trade threw 'rockeiy. Flour, Suit, Plmter, Window Sath, Glass, cllrri, vear 0f m'0 m()ru than ten millions. ' The first item of correction ol the Secretary's into the country a greater imputation thin the Hkaiiv .M.viie Clotimso. r.l..ll.irs 'I'hU .,i,l,ii,in tn ihn i.rniious msnli renort is the estimate of the recepts from ens- me-eiil d 'in uitl warranted, your warehouse ys- gives the iinioiint or about six ly-seven millions toms for the current year. The honorable Se- leui furni-hed a resource by which the importer as the deficiency of revenuo below tho amount crelarv estimates the-e receipts at Ihirly-one w.i- ned from the necessity uf adianciii the It. HATCH UMlUH'S I of our expenditures for tho last two years, millions of dollars. Sir, one year ago (in l)e- amount of tlio duties upon his importation until k HOOT AXI SHOE S TO It E, Troiii this, sir, I have deducted fix million six comber, 1810) he estimated the receipts from there was a market lor the gu Is. Tiieiniporta- fmj (:hurch.stre.t. hundred and eight v-ono thousand dollars, be- ciisl s for tho then curient year at twenty- lions hereafter will go into the warehouses, and ... 1- -I ll i i- ii. . ; . I I l.l I ..:..!. ...ill,....-. .....1 I.. ....till nf fiet linn- full 1 1 mi ilnlins until llm in :l ro w.lllt- cause u is sugesteu upon wuai uviuutitu i l'iiii iiiiinnii.-, n'. iii I"-ii... .v-.iv, ..,1. .. in . , .... ...... -ew know not exactly that iiHin reusing the esli- of twenty-four, an over-estimate ot our lour ed for coiisiiuiplion. mates submitted tons it was ascertained that millions, as tested by llie actual receipts into the Sir, there seems to hi a strange idea enter- there was an error ol nearly seven millions, Treasury. 1 take the liberty lo say that these tained iu regard to this milter, and, although there beiti" that amount in the Treasury which e-tiin.ites aro always too large. And permit tne strange, it seems to bo u laiorite idea it is, that is not represented in tlio statement coininunica- to remark, that the estimates o: our expenditures our exportations aretouo governed uy our no ted to us. Deducting, llien, this sum, which is are always too small. Our receipts from cm- portations, and that vvu mi) iiicrea-oour expor renorted to ho a liltlo short of seven millions. ' toms for the past year have filleti short or tweti-' tations by increasing our importations, 1'his, hit calling it six millions eight hundred and ty-four millions. And on what data, or on what sir, I believe is contrary to all experience eiehty-one thousand, the result is that 1 heru is a (.'round or anticipation does the hecrctary in- a theory which is iicticiency oi sixty millions lor the tw o years, or crease the sum inn year to 1110 amount oi unriy- piiiinc treasury or jooKsr.u.un stationer. Constantly fur Bale a general assortment ot SCHOOL, CLASSICAL, AND .MISCIlI.IiA.MlOt S HOOKS. The CiiEir, Ulank Hooks, Sr Tiosr.av. alrMcAi. llnous. Jio 1, I'i cLs' Huitilitn:, Colit'Kt .t. ' . S. Atlkiiio, HOOK 1UM)EH, 1'AI'Elt nvi.r.u, AXI1 IJLANK HOOK MAKER, Jii the I'ree Pi est Huilding. College Street CJ . W . H H i " What is tlio next ground ol tho honorable, I am not ablo precisely to state. It is stated, alsiut to say wiih the e.-pecial bles-ing of l'rov cret try's e-tim.ttes I Ho estimates three and however, by a Senilor near me, (Mr. Clarke, ol idence. Had it not been for the peculiar slate Khodo I-latid,) upon information said to be de- f things in I.urope. call to an unprecedented rived from tint ollicer, and communicated by extent for our productions, and pouring into this him to the Committee of Ways and Means of country an abundance of the precious metals, Iho House, seven millions more will Iu re- 0"'l tha furnishing an antidote to the exliaus Department alone, over nnd above tiou of your Treasury and oftho currency bi lbo amount of the e.-liuiates submitted to us for your foreign expenditures under the operation tho ensuing jear. If Ibis be true, the ad- oftho Subtreasury, this war would have ceased ditiou which I m ido lo tho Secrelaiy's cslim ito long "lin for want of the means to pro-ecute it. or expenditure for that year, ($7,000,000,) and We have, by this drain or the precious metals, w' 'eh seems to excite the surprise of gentlemen brought llngl.ind to the verge of bankruptcy, tlio on the other side, will be required fortho service Hank of Ihigland lo tho brink of su-pen-ion,and Department alone. thus rendered them tributary to this tinforliinato It will bo peiceived, however, that I add that war. Hut llie slate of things is changed : tho sum for the whole excess in every branch of e.- "i'ecie is rapidly reluming, the commercial tide penditure, oier and abovo tho Secretary's esti- is ebbing, enterpri-e is sta"uatin". mil.. Tl,. ....... t.l.,..i: i.i.i- -,..l ,1... ............. !.. ;.. .. r i . ..v, , i 'i i ii iv I il ill 1 1 iihiii wuieit Illy OS- '""'I mv' S.IHIVIIV., la in ii iwinniinti ui rapid CUT- public lands than was actually received la-t year point which 1 It I- public lands, bv-l.iusc the i -tlniato exceed, nil experience, and becau-e no rea-on h is been as signed, and none, in my judgment, can bo as si"neil for it. Tint nukes eight millions to be deducted from the Secretary's o.slim ite of reve nue for tho current year 18 17-S, and to bo added to the eslimiloof deficiency. Tne next item is an over-estimate or the rev enuo from customs ending June, 18 10. I h ive very little to say in regard to this, 1 ni-rely refer to the fact that the revenue hav f iltr.ii oil". I cannot perceive upm what cal. r .... i ' i: . I:.;. r.l. . It is Hut, 111 mo pecuii ir cuiiuuioo tn too at the rata uf thirty luilliuus a year. Hut, sir, I ono millions an excess in tlio revenuo from private individual who adopts auJ acts upon it am very tar irom beiiii? salt, iod w it h t n r.i . ih s source estimated lor l ie pre-cnl year over Sir. mv l ieory is mo reverse oi mis. luuru.i culatioii .. .i.,i I ... li.nLrnni tin. I,, noun', tho rcieuuo Iro n the customs is to n-e t.. ii. r..niii..i. ..I iniv I tn I iirtv-two mi ions ior iiiovosnioy f.n. j it 1U t lllll 1IIU l.u.i.i.VJ ". ...... ." j - -- I .. t , present -tale or the country renders it impossj. Wo; and as to any chiiige. I huti not seen the dilations of tlm Secretary. To satisfy my own and above the actual receipts of la-t year, to the puliation should govern your importations. Wi sli,;.itest jmispect oi , . . 1 judgineiit I will add eight millions, being the extent of seven millions ol dollars Sir, let us should buy only what jou can piy tor. 1 sup- I .Vcretary s t- iniilts, a u i i 1 1 i -.i u atnnlltit In Vlflneli iu 1 I...1 .1........ ..... - .1 .1. . I'.! , .. . .1 1 ..T ... , .I.........I 1.. . i,in im inns from US Ostllll lll'd TLtl Mil. . ... , . .miu, tuu ncci eiary lias insiiiuie a comparison ueiween me coiiuiiion oi tio-e tuaiour iiiiiuii.uiimis muo, ... .s... , . .. , ,., i,,,,,. over-estiuuted Hie public revenue. Thl. gives thim's durin- the past year and tho present, great extent upon the amount of our exporta-: toms for the year in. n J i ik, o S::"!0''1 ."",.,. being The" revenues for tho past jear were increased , lio..'. . , "a ''r r' J, CltAIll AND C.VI'.INr.T M ANUFACTUr.F.n, TvvoHoorHSotilii i.ouno ..i.-, 1 Cut ncit St., 1'inoton. )t. vyiiw"-" - - - rsi ( I Pi , r r, in Hi; nuove ime nmuv . All kinusui """jiJ r,ic8t notice. PsT fE R W 0 0 1) & C 0 . S uicrmx ami com.vixsiox sToim, C0.,mlyo,,liandCre,Cha,rS,hook- v Inch has now pis-eJ by ; nnd whatev- bo iho ubiltly ol olliir nauoiu iu pur . . . ... ii .. . i . ...i.. , ling, oiio having chasu our product! Sitii:11i mi I in "li.t I-m. Hint. .1.. mil nm .i...- 1.....1 i : i . . tur- uary. aim the oilmr Int.. ti, n,,... .... ,1... i m. ..r ' .. iui.1 ii inn.... . in:.i;iii IllOlllritli. ii.l,. . ..x... -...v. ..ui.du .illlin.- lllll in lilll UA1HII 1.11111113 . nnu, i I l.l . ... i:.: i ..I .S '' nunc- Altrll. 1H1I1 - Kntl..l ll ..e . .i ... r . n .,- t : -1.1. . curac) ot ins isuiiiates tur tlio comiliL' lar l.u -1 . . .1 "."" : passayu ui uotll was lor sequence, a lalllllg lilt Ol oar niij'sn ........ taking tho oeiiciency as ctinited by 1,1 ,IM.i; rh ,i." " " ',u,1 . of revenue al.o. Sir, Ihe u'h tiavH lor ma inreo vnn.. ..n.t:.... i.. .:"i Well, sir, 1 take the s, and I niii-t deduct eight limited receipts from ctis- lsl'J. 1 then from public ... t . r... tt,.. o.r vear. vv ucti ho ins "iven t.lll is iv'i i'i - r. J , , , l.l to lis as three millions, and I ask upon what ba. i. r I .ll. , .is, , iisestiinile re.-i I iHi'imniMi neany ceaseui ,e ,a .. , u u , s , . ; lanJ iKi.inties lo our sol Hill ii. - n .1..,.. I tiui te of ibis deficiency is based are these : tailment. Vou have before viu 'lie nw-t:ct of ii iiou uu.iiiciai enioarr.issmenl. FirstiTho expenditures of the current vear. coiuinerci, as now ascertained, will exceed the nrevious es. 1 lm enormous sum of nearlv seventv millions timitoof the Secretary by tho sum of thirteen of dollar must ho raised within le-s than ci"h tnillions, exclusive oniio y 10,00 1,8 11 now ask- teen tnoaths from this timo.becansc it is tnbo ed for, of which at least seven millions are to expended during that period. It Is to U raised cover an expenditure (as I have already shown) Bh lm" naked credit of tho (lovcrnmenl ; over and above the amount or Iho Secretary's for let it be remeiulicrod that this sum is not tho Iu tins calculation the expen- present estimate. ditiireol tho current fiscal year will exceed thn original c-timales by twenty millions of dollars. Tho estimates for tho coming jear are in creased, exclusive of payments on account of mo puunc itetil, only ahout eight millions abov aggregate expenditure, but is ihe excess of ex- penditure beyond our revenue. This brings me, sir, to the important question, lioiv shall it be ob tained I Two modes are suggested : . 1st. A direct and permanent Iain. '-'d. An indirect mid temporary loan in tho What has enabled us to Increase our impor Tlio demand of our brc.idstults, uiiicli t no esiunaies turnished ns at ihe last session, for form of an emission ir Treasury notes. me current year; which will leave a deficiency Sir, I will undertake to demonstrate totho lor the coining year, il llie Senate that neither of theso nudes hill avail; year should equal tint of iho present, of twelve lhal,if this war continue, tho Treasury cannot millions or dollars. I havo reduced it to seven, lie permanently relieved by either, nor by both. It requires no spirit or prophecy to, Kvory consideration connected with the sub- 1 deficiency fur tho current vn ," r .i . i l'll!"'il!Ju August Gary's estftnate of So TttJieMv? .1 ""1U. ui b i" J line, 18 10. Well, J r w ?' ' r'"3 Wu "1,f'"1"ei-"1 illt" ' ...i.i'. ' ' k'riWitliuui jioinx lur- uarv. uiti tlm i t. Jiers to Ike e.vlent or at lea-t seventy thoiisaud,1 of at least ten millions of dollars. MiuMioU'i thev a ill not b'1 vvh it I ti hich will cover.welvoinillionstd'acres ofyour, Hut will your expenditure be less fur ,J I Thee nils boa falliii" oil' public linJs V.nir aterage sales aro but two lng ,iall for the current j car ? Vo t is- nJ u necce- . ry Son-1 inJ a half millions a......'.IIy, and you have actn- more extensive plat, of, rations; , oirif J aJ -IIV ,'-w' into .ho m irke m " J' towr unh.ary e.abiisl, at tho next session ol Congress, wo shall bo call- ject combines in my judgment tu justify this as- u i ui ui nn iiiiinor uppropriauous lo llie extent sertion. Where is this seventy millions to be had f fur the com- Mr, I have il from the highest authority an- propose a Ihority which I apprehend will not Ik! questioned we have for the three yeari average rale ofduty I soldiers enough to cover .. .ii ,1 in rnouiro at mount of - de for live v ei ..i: " 'ML'0 U IllO IsriM lull iriyn ..iin I... .1 ... i. r tl i k nIi !L4 it) rUfltllrU iV . in"'" .i t a ' ... '.'"b -iio JU. id I tn riiimncrriul l.l .. . " . "Z . t..- .f r : r. iiiiis J fee. Wllt'll i iinmit aiv uiiunii WIKlie ritlUlII( uiul liLn llm ,.aii.i, .if P.,..nt i.t rlltHH MIV sumo, e,B.y-ciu,a ,on, M tlla ccinbcr fui.owbg Z Zriw KVXlh'S Sen. ofrelcnue! I over .he country sullicienl tocov;r ,',TObring thJmio .ubnUn haMng , ilrVuii: h ikdel.-f.ia and Hallinio.-probaly lc than add thirty lyany inemlier of this Iwdy that tho nholo ninniint nf tueio in the b.inksofNew Vork doe .'h to cover at this aierago ana- occupy the whole Mexican lerritori.'. t., snr'.-ad i ot exceed live millions of dollars. The amount for live years. .Now, under these v our armies like the locusts of K-ypt over that in lioston prt bably docs not amount to four. I , when land vvarmnts aro thrown whole republic, and like llie locust's of lypt to' cannot say how much may be in the banks of 1

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