North Carolina Newspapers

WW, ir.'"v AND Oor re the plan of fkir, aHbtfol Peace, rrp'd by yartj rje, to lire like Brothtri. " Unwrp Vol. XV. FRIDAY, DECEMBER 22, 1815; fNo. uMinrir I 1:1 1,1 1 i-iM f f i. . VI "i. I I ; . f r AJ -'"-." ' " "' " , ' . . - . . r . , j .. . . ,. t - gazette. $l'L 'HlGASUIty REPORT. -k.;ncc to the Acts cjititletl -t"velv, u Au Act tocstablish the ' taurv Departmcni, ' ami - An act lcmentarv to iup nci. cnuueu an ,;, . cf .MUa the Treasury Denart- Secretary of the Treasury .w- knnftr to lar before Conzrtsss followins Report, comprehending 'j I y cursorv review oi uic uuaiiciai "operations of the. government, in reference to- the recent state of war. H. A view jf t.ie finances for 1315, ' vith otiniatcs of the public re- cnoe and cpcnilitui-cs lor 18lu. III. Proposition forthc imiTrove cent and management of tlie re yennc, arid for the support of the TinMic credit. ' eursorH review oCthe financial rztiov of Uic government, iu refer- j trr to tie nan: stale of trar. j la onler to introduce to the conside- : 5ua of coare with advantage, the ; asuro uhicb will-be respectfully -Mted. f'ir replacing the finauccsof , rnited .States 'upon tlie basis of a1 rice eitablivhmcnt, a review of the uncial Deration of the government, I i reference to the recent state of war, j peari tte a necessary p:eliuary. Tnt ritrctivt systen, which com Ir-ced in the vrar I80r, greatly di- ftalsiietl the product of thr public ro true : out a vas.noi u;un inc rriM . . il ..I . . risis ; I yolred an actual declaration of war. s r- - ii iat the augmentation in the exeuces .( 18l;, (w.ien it became e ctinct) atlord- ! iron warc'j no nei t'ic rorcrnrr.ent became obvious and ' ing an additional duty of 2 I-C per was then opened ; jHjrta. With the ocrionril aiduf -fecnt. ad valorem. onali imported goruls i was extended to nporarv Ioai;vthe wmnarv receipt. J pai:t: duties ail valorem, and a tlH-, tlionsing a repcti mI.o M.tUpv 1,'nl oTnilii1 t.'iPiinlni.T. i rnminilir' ilnf v nt IU ior rrnf iittnti ' nilnlir rreiHT. fpenditur even daring the peri- trat additionnl duty, in respect to all ;. 1. An authority was givento raise ! of a mspendH commerce : and a: go:u!s imported in Vessels not of the' by loan a sum not exceeding 16VOOO,000 s'.cirt from this. Department, present- f lrhitcd States. ;'o dollars, and to create a -stock for '-- i'-.a II ma Tfk nan; nvwi inc. iii. itia noHinn irt trurtiilm.irv rould raisie tltc dematidi maudi upon the j 'uleraUe amount. ! Trenvjrv. .to a con V-.rnd hn entimatrd rnxluc of the -rrcnt revenue.- The onlinary flis LrcracnU for the car e.nding un the i ih oC ptemher. 1311, were "fated ;i cmouutinar'J thcS'im of 13)32.037 Jn!!s. 53 "cts. ; and the ordinary rc pt fijr the rnme rar were stated n u.iuirnt'in'o to the'S'im of S 15541,440 ir ccnt.s Tiidependent of a temporary. !nn (raUedrtn -1S10 and repaid in IlU a.H well as the balances in the Trt-iry at 'the'eommbneemnt and ;"ic close of the year. Rut t-'c" esfi- ; rate further vear laiC.-i-cquircil on account of. the current expeuscs, tle r:n cf 9,400,000 tlollars. rrtLcchd and diplomatic ?e-:-..-.:iitnt- ' - , To: the iditary denirtracntin-cltul.n-thcnhl.ti?. the Wuo dn artaicnt, tlie chirj- of artcf nafs. arny ar.U ord ;iuncr, 5i: t- t the iiaiil department.'.. .Vl Cr die iatcrct on the.pub;l Lcdtbt, ; oViivn k ' - '.I I A-x! the' subsisting revenue n.t vi these expenses m-? ejtj. i. .Ld .-t tl sum of 3fC-J0,0J0 ! !'..rs, prrC,CrTn iv- !hc kalt,s rf fe'jMir lan!i A l i4 uut iuLU.cTUr.cous pa meats 7,xoo,owj : rtftj.nOJ' n -xozki .; VuvH CIitvH fo l:ci I? , vpcteO ta prA .i.f b af loan " ' uchVc'rc tFcHmltrd objects ofev- , Tc--.p. and kiich the limited means .,f ; nlvj rt the cotutueiicemeiit ol the j ... . i i i t W ih co-,ti,.cnco,or .11 the ' j a U y renoRMl ; . ye.tj ft'may , p f 'j , beniiiderod iiit subject for re- j th timxc.l laUc .t,. exhibition a 'TTtf-tl(a.pTTWtJtomuil:rCceipts -and ri4rtrntj)fl',raTYfroirttheear 1791 ul report of tbe Secrcar- off tiKj- j-x- . . ."M. '"!- " - xpece to be incnrrel for'the naval Jthc I'nited States from any fiireign iad military scrvicc?on account of the i place, a discriminating ilutyof 10 per Lm cxlstin'- state of the tountrv. j cent, upon that additional duty, in i Ci iifr nnA? ynn -ie-tin fnetl r( "-iccjjot yiiilioh, IP cfedit, in ca-j pitaU ndiitimLi4rT. Tlie confidence j -ixt, -apd.il certaiDlyJOcmeva iw- :frp leu no . vst aat by avIu cJIl tJc int cpa l " . - mi B - " - "' . - v. -jresoues of the country could be bro?t i .f once into action, when the resources ,of its external commerce became in nupcicm. to answer trie exigencies of tlie time. The existence of such 'a! system would, probably, have invigo- rated tlie early movements of the war; might have preserved the public ere- nceeasarilv adonted as tho rlnpf instm ment of finance. The nature "of the instruinent employed was soon deve loped : and it was found that puMc . crcu.i comu oniv oe uurauiv maintain- ed upon the broad-foundations ofpub- lie revenue. . r it. . r vw uiu uuuiiiii oi mc session oi lanvc attention was devoted to t ie or. iranization of the military and naval departments, upon the enlarged scale oi a war establishment ; so that the ap- propriations for this purpose, far ex- ceeded, in a short time, the estimates and resources of the treasury, as they dereil the pecuniary contributions of Tor the ciril and diplomatic de-' ' the 'people more equal and more elTcc- Pftrtmehts 1,500,000 five. Uut owin-tr the want of such f!0l'.,Jem,li?7tlePrlrtment , 17,000,000 . .cm, dden ,d ,Mt an ex, elusive resort to the nub ic rrodit wa ifi ent nf th .r- nave oecn already described. Waysol 19,1)23,000. and means were, therefore, provided 1. ffl tinni Cit irne f first continued until t?;c -?th of Marrh, 1SI:, and arferwards until March, I dut of lOfJ npr piit. n no it tli nir- ' in: inanent'duties ongoods. imported into" respect to nil goods imported in ves- ; vessels not of the L:nited states t and 1 Oil auiitiKinai uuiv oi l uoii.tr oj , l? exniration of one vear after ! Lthe conclusion of the neacc. 'these ad- Iditional duties will cease on the 17th t . L of Fe!ini?-v lfll6 A. An autnonty a- given to raise .-;'bv loarviausn notexeccding 11,000,000 ol doijars. and to create stock for the amount, bearing interest not exceeding j (3 percent, per annum, and reimburse-! . able at any time after the expiration , : of 12 years from the 1st of January, i 181.". Toe payment of the interest, ! and the redemption or the purchase of j . rr.... i 4. And an authority was given io is- usue Treasury Notes for a sum not dx- cecding, 5,000.000 of dollars, bearing ! interest nt the rate "of 5 25 per cent. I lt I4UIIIIIU) .llt,V.4A.4fcVV.- ' " places respectively, as should be cx :presedon the face, of the notes, one i vear after the day on which the same V . v. " - . - -. , io meet me extraordinary, demands ; ; commenced in iSovemucr, 112, and thus created : but they were derived closed on the 5d of March, 1813, the exclusively from t:ie operations of fo- appropriations for tlie army, the navv, rcii cotumerreand of public credit. ' t and the other branches of the public l .. r ' . .i..... t. ; I pur mi.yi.iu ruviuu iiui uum; ui iiic issue iicasm y iiuas iwi a. sum umi rate of 50 ct-. per ton) upon all ves- ! cxceeding5.000,000ofdollarsabsolufe cls belonging wholly, or in part, . i 1 v ; with a provisional authority to is- I to the n')Jil.s of fiirei-j-n nowcrs. But stic an additional sum of ).t.(X).000 of 1 the rontinu:iiire nf the. act beinir limit- . dollars, to be deemed &held (obeanart : 1 . .1 l".l IU L 11 :i.iit nave been issued, ine iioies suojecipf ia-auun, c werc declared to be receivable i"ri pay- icommendpd by the experience of a for WnttVc nnil t ivelalil bv the Irmcr period, and computing their gen- I'nUed States and all - public unus i tid ny tneir aumoriry , ami mu pj.r, tnent oi tnc inieresr, anu mt- it-ncu i- I m J . .A !. rni-!nA nf these Notes. ivi-i rhnr-ed lilcR till! funded debt: up- on the Sinking Fund.J - . The eiiect of the additional ways & mi.' rrom. iuc lrasuij L-cember 1812, il receipts in- fhe year end- thc issuo of Treasury Notes, amounted to thoyuln l(Xr92,l 591ollacs 40ccntsi (almost double the antonntiof the pre- ioiK estimatel' and thai ; thd actual disbursements, I for the same year, a- fce the act nf tbe 25tlr March,- f804 (7 vol-133) and the 3 Is -January, f l0Tf3"' 2a) an(l the .-vet of tle 27th or February; 181, (Ii Vol. - - . t- j ; fc $t Ue act of the Jit of July, IS12 (U vol. 6I ) "- ' c ic the' act ofHhs I4th of tnrcb, IST?; (1 1 VOL 72.) -; ; , '' ,r,'1T i See the act cf tbe 0tli of June, 1M2, (H vol. ) i ' ' mounted toihe sum of 18,568, (which was, also, almost dou mount of:theiprevious estim? pendent of the balance in tin ;ry at the commencement and Rf the ' year.V But the estii the year 181S, required on j the accumulated expenditure public debt 8,5Q0,000 t ooc rmn ! tjs And the subsisting revenue to meet e expenditures was estimated at ' 4. 0 le aniunrn e i n ithc f of dollars, pro ceening . , : From tlie customs 11,500,000 , m .u. :f lv , , 500,000 to nrwi nnn Leaving a deficit, for which 'it was proposed to provide, 1st, by the out standing balances of the authorised loan and issue of Treasury Notes, and 2d, by a new authority to borrow, and to issue Treasury Notes to tlie amount j Duiingthe session orcongress,which Crtri'in u orn ntfi rlori tiimnnii !i but (without adverting to the imposi-1 ! tion of a small duty upon imported source of revenue but additional aid the Treasury, by au- tion oi the appeal to 1 rtptmr llie' rnf p nf nop rnf. ner an ;nunv"imofTrtToutSalleat ny4iia-af H . . . , tcr the Expiration of 12 years from the : 1st of January, 1814. The payment j of the interest, 'and the redemption or purchase ot this stocK, are charged up on the Sinking Fund.? i x,. .vnu .iuiimmu) as tm-u -u ... 'r'--. "NT , . . , , .,,.4. f of tlie lean of 1 6,000.(()0 of dollars, au- ithoriscd asiabovc stated, to be raised. .The notes were to bear interest at the; rate of 5 23 dollars per cent, per aii" num, to be reimbursable ccs respectively, as shoub ed on thc.fnce i of them, on the day ntun, to nc reimDursaDic at sucn piar uiu.oc express -one year after muld be issued: 9 r to be receivable in payment of all du ties and. taxes, laid by the U. States,! and Ml the public lailds'sold by. their j authority ; and tnc payment ot the in terest, and the redemption or purchase of these notes, were charged, like the funded debt, upon the Sinking Fund.h u The necessities of the Treasury be coming, however, more -urgent, and the reliance on the public credit be coming more hazardous, congress de termined, 'at a special session, which commenced in May,. 18 IS. '.to lav the i ! foundation ofH system of internal re i venue. : selectina:, in particular, those ill . ' . j'erai proiiujpt ai uic sum- o ,w,uw. nAva uu uumij war after. tlie terminatien of thewar, th"cy-acqiiired .the denomination of " the vartaxea;r' but, by subsequent JawAlmost all the existing revenues I are pledged, with: the faith of the U jnited States, to provide for the pay ;nent;'of t.hc cxpenccs of government, for the, punctual payment of the pub jlicdebU principal and -.interest, ac cording to the contracts ; and for crer atmg.an aueiuitic iumi m. mmj "dually to reduce, and eventually. to exi tinguish, the public; debt ; until those purposes shall be accomplished, or un tiLcofgreis shall provide and substi- ; ' ' " See the Annual Report of the Secretary of ..t-.. t:mw ,Utr tlie 1st of Dec 1812. r f?cc die let of the 25m of "Feb. 1813, (11 V3 SethJactofthtlr of Feb. 18r3, (11 iSce the act of the 25th of Feb. 1813,(11 vol.377, - ' .. ih letter of the Scffiref arvoitneTrea. sun' to tbd Chairman of the'Coiiwnittee 'of Wavsrjxl feans, dated Jan. 10, 181'.J,Andrue Report of die Acting Secretary ofthe Treasa-n-, dutei 2d oi Ju.ae,J.8I3 . a -a tute by law, for the same purposes,7 o thef duties, which shall be equally pro ductive. In the session of May, 1813 1. A direct tax of 3,000,000 of dol lars, was laid uponthe United States, and apportioned to the states respec tively for the yeah 1814; and it was afterwards subjected to the general pl.edge above stated. c 2. A duty of 4 cents per pound was laidpon all sugar refined within the United States. The continuance of the duty, was limited to one year af ter the war ; and as the general pledge has not been applied to it, the duty will cease on the 17th of February, I816.d , 3. A duty was laid on all carriages, for the conveyance of persons kept by any person for his own use, or to be let out for hire, or for the con veyance of passengers ; which was graduated according to the denomina tion of the carriage, from the yearly sum of 20 dollars, to the yearly sum of 2 dollars. " The continuance of this duty was originally limited to tbe war; but the general pledge has been ap plied to it, with some modification in the mode of laying and collecting the duty.e 4. A duty was imposed bn Licences to Distillers ol Spirituous Liquors, which was graduated according to the capacity of the still, the time of em ploying it, and the materials" consum ed. The continuance of this duty was originally limited to the war; but the general pledge ba$ been applied to i' with considerable modifications in the principle and provisions of the law. 5. A dutywasiaid on sales at auc tion of merchandize, and of ships and vessels, at the rate of 1 per cent, of the purchase money of goods, and of 25 cents for every hundred dollars of the purchase money of ships and vessels. The continuance of this duty was ori ginally limited to the war ; but the ge neral pledge ljas been applied to it, wiin a consiueranie addition to the a- j mount, and a modification" of the pro-"; visions of the law.r , ' I 6. A duty was laid on licences to re-1 tailers of wines, spirituous liquors and 1 foreign merchandize, graduated accor ding to the plp.ee of retailing, and the nature of the article retailed. The continuance of this duty was original ly limited to the war; but he general plcdgeJi.as been applied to t.h . 7. A duty was laid on notes of banks and bankers ; on bonds, obligations, or promissory notes, discounted by banks or bankers; and on foreign or inland bills pf exchange above 50 dol lars, and having one or more endor sers ; graduated according to the no minal amount of the instrument. The continuance of this duty was limited to one vear after the war : and as the v' J general pledge has not been applied to it, the-duty will cease on the 17th Fe bruary, 181 6.i But besides the direct tax and the internal duties, there were added to tlie resources of the Treasury during the session of May, 1813 8. A duty of 20 cents per bushel'up on all salt imported from any foreign place into toe United States ; which being limited to the war, and not bet ing included in; the, general pledge, it will cease on the 17th of February, 18l.fc , , , w j , 9. Arid ah authority to raise a loan not exceeding 7,500,000 dollars, and to create ?stock for the amount reim bursable at any time after the expira tion of twelve years .from the 1st ol January," 1814 . The rte of infer was not limited Dy the law 5 Dutitrwat provided that no certificate of stock should be sold at a rate lep than 88 per cent or 88 dollars in. money Jof 100 dollars in stock. The payment of the interest and the redemption, or the purchase of this stock are charged up on the Sinking Fund. , . The sources of revehtfe thus ppened in. 1813, could not, however be expect- See the Act of the 22il Jcf Jdfy, and rthe 2d of Augustpl8i3, and the 9th of Januarj', 1815, (12 vol. 53; 135, 35.) ? dSeo the Act of 24th July, 18?3i(12v. 88.) Seethe Acts of the 24th of Jiil, 1813; and 15th' December, 1814, (12 vol. 101, 12.) t ?ee the Acts of the 24th of Julv. 18t3. k the 24tlrof DecembcK"18l4,' (12 voli 105, 181 g See ine Acts 01 tne4ta 01 jmy ioii, ana the ?3d ol' December 1814, (12 vol. Ill, 26.) ,See tlie acts of the; 2d of Aug. 1813; and the 23d"otDec. a814r (12 Vol: lf4, 2f.) , v r See thevsct Of the 2d of Au. 1813, (jy.. See the act of the 29th July, 1813, (12.: 1 see the act of tbe 2d cf Aug. 1313, (12 v. ed to aid the Treasury until IS 14 ; & accordinclv in the annual report from this Department, dafed the 8th of Ja nuary, .1814, neitner tne aireci. isa nor the internal dutjes, will be 'found as an item of the actual receipts into the Treasury, during the yearnding tne Hum 01 epiemoer, 1010 mount of those receipts 4vasstated,.tn tlio rrrrPAl nf the "CM StOUlS.- of, the sales of public lands&c.iit 1 3,568 J)4l dollars 43 cents, ana in ine, proceeus of loans' & treasury notes at 2,976,912 dollars 50 cents, making together 39,907,607 dollars 62 cents : and the actual disbursements of the same pe riod were stated at' 3,928,855 dollars 19 cents, independent of the balances;' in the Treasury, at thefcommencement fliif.. the estimates for the year il(4 require sum of 45,350,000 dollars f ; For civillipiqmatic andniiscella- neous epences, 100,000 For the payment of interest on the 1 , ' f old and new debts, and the in stalments of the principal of the S old debt . . . j 12,200,000 For the miliary establishment j j 24,550,000 For tlie naval establishment - M ; '6,900,000 f 45,350,000 And the subsisting rev enue to m ee:t " these expenditures, was estimat ed at the sum of 14,370,000 dol lars, proceeding' from the cus toms and sales of public lands! , ' From the internal duties and d.rept tax ' ' j j From a balance of loans and trea 6X600,000 500,000 4,270000 sury notes ; U,$70j000 Leaving1 a dencit lor whicjh jt was proposed to provide, 1st, by j a im part of the balance in the Trea- -. suiy, and 2d-by "loans and Trea- , ... . surv notes, amoimtiiigto 30,80,000 For the deficit t$ us approaching the sum of 31,000,000 dollars, the only provision! made during the -session whicli commenced in l)ccembef 18.13, rested again upon ths publip credit! . 1 . An authority was giveai 0 issue . treasury, notes for a sum not exeeed ing '5,000,000 of dollars1 ahsoluly ; with a provisional authority to issue art additional sum of 5,00p,000 of dollars' to be deemed and held to be a part 6f any 'loan -which might be authorised during the session; . Thl notes weret to bear interest at the rate.pf :$ 2-5 dollars per cent, per annum ; tQ be; re imbursed at such places respectively, as. should be expressed on the face of them, one tear after the day on-which. they should be issued ; to be receiva ble in payment of lall duties and taxes laid by the United States, and all pub lic lands sold by their authority and the payment of the interest, and the redemption, or purchase of these notes were charged, like the Funded Debt, upon-. the- Sinking iFund.n"'". . ' 2. " And an . authority was . given t5?f raise by loan a sum not exceeding 25,000,000 of dojlarsahdyp creajte? stock for the amount, reimbursable 'af ter, the expiration of twelve years front the last day of December, 1814. Nei ther the rate of the interest,' nor the price of the stock jwas limited ; & the payment of the interest, and the re aemption, or:purehase of the tockare chargeabl ei op the ) Sinking Iftmd..- The embarrassments of thelTreasu ry, aiiw" tne .adjournment vi. in the year 1814, became ex appears.n that the tfisbur4sej mounted to the sum of.t9j695 . m v r. n ti vf T 1 ' 1 . . 1 1 r 1 i t . r . a .Uats-27; cents.-. J For the civil, diplomatic and miscellaneous expencts 1. vl ,444,062 60 For themilitarv dq?rtment 11 -11,21,238 For the naval department f I' "4,012,192,90 For the public debt j..:. m 326,580 77 19,69,781"27 And the balance of the appropri- , . ations for the sum? objects of , ; cxpcntliture. required dcr'.hg , . .J the other-half of the same ' ! '1 year was stated at the sura of 7,57 6,391 9 But die actual receipts Tn fotlfe i Treasury during' thefirsthalf rv ' ; of the vear 1814,had unoim-, -l i. ted to 19,219,946 dollars, " ' . cents, proceeding. , t J,. From the custom, j , , ;4,1B20?J3 2o From the sale ' of public lands as; ' (including-thosrin the.Mis- f''.. Af: stssipjpi territory the pro- L ' ' 'V ; ceeds ol" which dif e payable" i'-r' 'V " m See thc'annaal, report of thd, Acting cretajy ol Uie Treasurv'. dated 8tii ai Jai.tnrr. . $e'e the setoff uUBl of 3farch3 8H (12 yot 276.) . , 7.," " : ; o See the act 6f March24.1RM m va! Y y p'ee theanfthatVporl of tYe "Secretarycf ItheTreflsun- d iteel Pent. 1K14.. ' 1 A" - ( 4 v. i 7 :7't i! I m A. 1 r-fc I ... t . i- . - . - .