FORM XXXI. DISTRICT AND PORT OF NEW ORLEANS, To the Storekeeper of the port: M. Busto having made entry, and given bond as the law directs, to export (B) 5. One case cambric dimity, brought into this district on the 2d September, 1846, and entered for warehousing by James Holmes, you will deliver the same to the surveyor of the port. JOHN HENDRICKSON, Naval Officer. DENNIS PRIEUR, Collector. FORM XXXII.. UNITED STATES BONDED WAREHOUSE, I certify that according to the invoice and bill of lading produced at the custom-house on the entry thereof, William Wilson is the owner of the following goods, wares, and merchandise, now deposited in the United States bonded warehouses at this port, at the expense and risk of the owner, which goods were imported by William Wilson, on the 2d September, 1846, in the ship Roscoe, Delano master, from Liverpool: (B) 5. One case (300 pieces) cambric dimity, £62 2s. I further certify that the dutiable value of said goods, wares, and merchandise, according to the appraisement made by the United States appraisers for this port, is sixty-two pounds two shillings sterling. DAVID THOMAS, Register. REPORT ON THE FINANCES. DECEMBER, 1847. TREASURY DEPARTMENT, December 8, 1847. In obedience to law, the following report is respectfully_submitted: The receipts and expenditures for the fiscal year ending June 30, 1847, Leaving balance in the Treasury July 1, 1847, of.... 59,451,177 65 $1,701,251 25 The estimated receipts and expenditures for the fiscal year ending June 30, 1848, are From customs, 1st quarter, by actual returns... $11,106,257 41 19,893,742 59 $31,000,000 00 Excess of expenditures over means July 1, 1848...... $15,729,114 27 The estimated receipts, means, and expenditures for the fiscal year commencing July 1, 1848, and ending June 30, 1849, are— The expenditures during the same period, as estimated by the several Departments of State, Treasury, War, Navy, and Postmaster General, are The balances of former appropriations, which will be required to be expended in this year Permanent and indefinite appropriations Specific appropriations asked for this year $1,475,210 77 4,587,577 82 49,582,153 13 $55,644,941 72 This sum is composed of the following particulars: Indian department Naval establishment. $5,613,061 52 32,007,028 42 2,045,169 90 1,694,318 84 926,401 81 10,905,558 55 Interest on public debt and Treasury notes... 2,453,402 68 $55,644,941 72 Deduct means remaining applicable to service of fiscal year ending June 30, 1849... 19,370,885 73 Excess of expenditures over means July 1, 1849.... $36,274,055 99 It will be perceived that if the war is continued until the 1st of July next, and no additional revenue provided by Congress, nor any sums received from military contributions in Mexico, there would be a deficit in the Treasury on that day of $15,729,114 27. For the reasons hereafter stated, under the operations of the constitutional Treasury, it will not be necessary hereafter to retain in the Treasury, to meet the wants of the Government, and afford a constant supply for all their enlarged operations to the mint and branch mints, a sum exceeding $3,000,000. Adding this to the deficit in the Treasury on the 1st of July next, it makes the sum of $18,729,114 27 to be supplied during that period; to meet which, if the expenditures authorized and estimated should take place prior to that date, a loan for that sum would be required if no additional revenue was derived from any source whatever. It is believed, however, that if Congress would adopt the following measures, which are recommended to their favorable consideration, additional revenue to the amount of $4,500,000 per annum might be realized. First: from a duty on tea and coffee of 25 per cent. ad valorem, $3,000,000 per annum ; from the reduction and graduation in the price of the public lands, $1,000,000 per annum; and from the extension of the preemption privilege to every bona fide settler on our unsurveyed lands, whenever the Indian title may be extinguished, $500,000 per annum. Should these measures be adopted by Congress, the loan might be reduced to a sum not exceeding, at the most, $17,000,000. In estimating the loan at $17,000,000, allowance is made for the fact that these measures for additional revenue could not all go into effect so as to produce the full amount during the time intervening between the present period and the 1st July next. After that date, it is not doubted that they would produce the full amount of $4,500,000 per annum. The President of the United States has, however, directed contribu- * tions to be levied in Mexico in every form that may be sanctioned by the law of nations. These contributions consist, first, in diminishing the estimated expenditures, by obtaining as far as practicable supplies for the army in Mexico; second, by duties upon imports, as a military contribution; third, by enforcing the Mexican duty upon exports; fourth, by directing the seizure and appropriation to the support of the war and the Army of all the internal revenues of Mexico, except transit duties, whether assessed by the General Government of Mexico, or by any department, city, or town thereof. By the acts of September 2, 1789, and the 10th of May, 1800, it is the duty of this Department to report to Congress estimates of the probable amount that will be derived from all sources combined, in order that no larger loan may be asked or effected than would be requisite after deducting the amount thus estimated. The sum to be realized from these military contributions will depend upon future contingencies. If our armies were withdrawn from the capital and ports of Mexico, nothing would be received from such contributions. If they were withdrawn from the capital, retaining the ports, no safe transit being open for imports into the interior, and to the rich and populous portion of the country, including the mining region, a very small revenue would be derived from this source, as shown by past experience-probably not exceeding $1,000,000 per annum. If, however, the ports at present occupied by our forces be retained, and all the rest seized or blockaded, so as to prevent the carrying of imports into the interior through any other ports than those held by our forces; if the roads were then opened into the interior, through the city of Mexico and the mining region, and the route of commerce across the isthmus rendered secure, it is my conviction that the revenue from all these sources above specified ought not to be less, so far as the duties on exports and imports are concerned, than has heretofore been collected by the Government of Mexico. I have not been able to obtain any reliable statement of the amount of duties realized in Mexico upon exports; if, however, it were fairly collected upon all the exports of specie from Mexico, it would probably not amount to less than $1,000,000 per annum. It is not known, however, that so large a sum, as realized from this duty, was ever recorded in the custom-house returns of Mexico. Under these circumstances, it is extremely difficult to estimate the amount of duties which could be derived from this source; but they ought not to fall below $500,000 per annum. The receipts from duty on imports collected by Mexico have varied from $6,000,000 to $12,000,000 per annum; and I think it ought not to be less, with the ports and interior and roads in our possession, and rendered secure for exports and imports. There are many reasons why it ought to be greater. The present duties are framed so as to yield the largest revenue; whereas the Mexican tariff was in the highest degree protective and prohibitory, the duties, even when the goods were admitted, being generally adverse to revenue. There were also sixty articles the importation of which was prohibited altogether; among which were sugar, rice, cotton, boots and half-boots, coffee, nails of all kinds, leather of most kinds, flour, cotton yarn and thread, soap of all kinds, common earthenware, lard, molasses, timber of all kinds, saddles of all kinds, cotton goods or textures, chiefly such as are made in the United States, pork, fresh or salted, smoked or cured, woolen or cotton blankets or counterpanes, shoes and slippers, wheat, and grain of all kinds. The admission of the prohibited goods at reasonable rates, the change of the protective into revenue duties, and the abolition of the heavy transit charges, must, of course, increase imports and revenue, and greatly enlarge our trade with Mexico, bringing back specie in return for |