Slike strani
[blocks in formation]

nal is put down at an estimate of near twenty-two and a The presidential veto, considering the difficulty of obhalf millions of dollars. The eastern section of this canal, taining two-thirds, is nearly as absolute here as in Enga space of one hundred and eighty-nine miles, between land. No cause of alarm is here suggested, as either Washington and Cumberland, and more than half the actually existing, or shortly to arise; still we may fall on length of the entire canal, computed separately at eight evil times, when a vain and ambitious man, armed with his millions and a quarter of this sum, is now in progress constitutional patronage, would seize on the example under the direction of an incorporated company, with no afforded by a popular President in days of political calmother aid from Congress than the subscription of a single ness. Should the people become familiarized with the million of dollars, and with resources, acquired or anti- exercise of this power, it would lessen respect for themcipated, ac!equate to its completion without further assist- selves and their immediate representatives, and be a virance from the General Government.

tual change of the spirit of the constitution. It would Under the same head, a canal from Baltimore to the enable a designing man, with but ordinary address, to Potomac river is estimated at nearly three millions of dol- ingratiate the favor of the people, even in opposition to lars; but the project is abandoned: and, in lieu of it, a their own representatives; and, as soon as the sacred spark rail-road is projected, and contemplated to be made with (of confidence in the capacity of the people for legislation, private funds.

through their representatives, shall be dimmed or extinWhen we consider that all the works now in progress guished, then, indeed, fears for the liberties of the country on the seaboard, and in the interior, only amount to three should be seriously entertained. This, of all other powers millions seven hundred and thirty-two thousand dollars, celegated by the constitution, ought to be most cautiously no fears need be entertained of the caution which Congress exercised. will always observe in making appropriations of money. În similar views on this subject, the committee bave

The committee consider the detailed communication been preceded in the report to the House of Representafrom the President as very important; and lest any erro- tives on President Monroe's message of 1817, which grew neous impressions be made concerning it, they have out of a difference of opinion between the Legislature and deemed it proper to have it annexed to this report. the Executive on the constitutional powers of Congress.

As to the “five millions of dollars and upwards,” ex- Mr. Tucker, of Virginia, as chairman of the committee, pendied on internal improvements, the committee refer to made a report, in which the following passage occurs in the report of the Secretary of the Treasury, of the 20th relation to this contested power: December, 1830, in compliance with a resolution of the “Involving, as it is supposed, a great constitutional House of Representatives of the 26th of May, 1830, which question on the one hand, and intimately connected on the is also appended to this report.

other with the improvement, the prosperity, the union, On the subject of the Maysville road, the Louisville and the happiness of the United States, it presents the canal, and the Washington and Frederick turnpike, the fairest claims to candid and diligent investigation. Nor is committee will barely remark, that the two latter, in their it without additional interest from the division of opinion judgment, are clearly of national character. The one to which it has heretofore given rise between the Execuconnects the seat of Government with the whole Western tive and Legislative branches of the Government; a differcountry, and the other is greatly interesting to nine orence which, in the indulgence of the rights of free opinten States. The Maysville road lies in the heart of a fine ion, will be still found to exist between the sentiments country, and the travelling on it is continual. It is calcu- promulgated in the message of the President, and those lated to facilitate the trade of a rich portion of the Union which will be advanced by your committee in this report; with Pittsburg, the lakes, and the towns and villages nor do they conceive that the expression in the message lying on the Ohio and Mississippi rivers, onwards to New of the President, of an opinion unfavorable to the constiOrleans.

tutional powers of the General Government, should be It is represented “that the present state of the road permitted to have any influence on the disposition of Conrequires about thirty-six hours for the transportation of gress to legislate on this interesting subject

. For, if the the mail from Maysville to Lexington, a distance of sixty- constitutional majority of the two Houses should differ five miles, and that, too, on horseback, exposed to every with the Executive Department, the opinion of the latter, incident of weather. This state of things generally con- however respectable, must yield to such an expression of tinues about six or seven months during the year, making their will. On the other hand, if, from deference to an an average of about thirty hours, or a little over two miles opinion promulgated in an Executive communication, Conper hour, for the transit of the great western mail; the gress should refrain from entering upon the consideration tardy, and frequently impeded progress of which, the of a question involving constitutional doctrine, it might people of the West have long considered a national happen that the opinion of the President would prevent grievance.” A good road, it is believed, would reduce the enaction of a law, even though there should be the the transit of the mail from Maysville to Lexington, from constitutional majority of two-thirds of both Houses in its thirty to six hours, in all seasons of the year; and favor. Thus, by the introduction of such a practice, the create a saving in carrying the mail, nearly equal to the presidential veto would acquire a force unknown to the interest of the money proposed to be subscribed by the constitution, and the Legislative body would be shorn of United States.

its powers, from a want of confidence in its strength, or This is but a limited view of this improvement. It is in from indisposition to exert it. Whilst your committee are a direct line, and designed as a link in the contemplated perfectly aware that nothing like this is contemplated by national road through the States of Ohio, Kentucky, Ala- the Executive branch of the Government, they presume bama, and Mississippi, to the great southwestern mart in the House of Representatives will scrupulously avoid a the State of Louisiana, passing by many towns; traversing course which may be construed into a dereliction of their States abounding with iron ore, and the various produc-privileges.” tions of the soil calculated for military defence and inter In reviewing the ground over which we have gone, nal trade. In a case thus circumstanced, the committee the committee cannot perceive the "wrongs of the past, think that the immediate representatives of the people for the evils to be arrested.” Who, among those most were the appropriate judges. The veto power had been unfriendly to national improvements, could rejoice in the exercised, in cases of expediency, but two or three times annihilation of what has been already accomplished? The in the last forty years. The committee will pass over Cumberland road, admitting its great expense, growing those recently made, and confine themselves to the prin- out of want of experience in the construction of such ciple which the power contains.

works at the time, has been of inestimable benefit to the Vol. VII.--F

[ocr errors]

21st Corg. 2d Sess.]

Report on the Finances.

country. Who would wish its advantages destroyed, and the President's two predecessors, who agreed in sentiment the dilapidation of the dwellings and Hourishing villages that the time had arrived to prosecute national improve. to which it has given rise? Who would desire ignorance ments with the funds of the Union. Mr. Monroe used these of the topography of many importants parts of the Union, emphatic words when the public debt was more than in preference to the accurate knowledge of which we are double its present amount: “It is of the highest importance now in possession? To whom would it give pleasure to that the question should be settled. If the right exists, it behold the impediments in the Ohio and Mississippi rivers ought forthwith to be exercised.” replaced? Would any patriot resist the efforts of the na The committee will trouble the House with only a few tion in the assistance given to effect a communication over additional remarks. the Alleghany, from the Chesapeake to the Ohio, which General Washington had so much at heart, and to which,

A change of public sentiment by the great body of the in his opening message of 1823, President Monroe invited people is intimated, and made, in part, the foundation of the attention of Congress? And, lastly, could any citizen

future action. The people, ever watchful of the true indesire the Chesapeake and Delaware canal, and the Dismal terest of the country, embarked early in this cause and Swamp canal, to be monumental ruins of the enterprise worthy. Although checked by the vetos of two Presi

persevered in a manner the most remarkable and praise. of their countrymen?

The committee do not propose to meddle with “ the dents, and not cheered hcartily by the countenance of discharge of the public debt,” as now provided for by ex- any, they never abandoned the pursuit of this important isting laws. But, even supposing an interference, should object; and, at the commencement of the present adminits trivial amount retard the rising prosperity of the coun- witnessed, the representatives of the people, coming fresh

istration, after the severest contest the country had erer try! If we desire to be an example to the other nations from among them, and acquainted with their feelings and of the earth, let us not fold our arms. ment of the mind, and the activity of the body, that be wishes, manifested again their unrelaxed zeal in favor of stow true glory on a nation. We can perform no action promoting their country's prosperity by national improvemore beneficial to ourselves and posterity, or afford no

If there is any change of public opinion, it is imprecedent of more valuable instruction to others, than to voice of this tribunal more than our Chief Magistrate, and

portant that it should be known. No citizen reveres the improve the natural advantages of a country which the beneficence of Providence has given us to dwell upon, and none can give more accurate information on the subject which is surpassed by none within the compass of the globe. committee, therefore, offer the following resolution:

than the immediate representatives of the people. The When can we expect a more favorable opportunity to pursue this great and good cause on a scale intrinsically Resolved, That it is expedient that the General Governworthy of its importance, and of the extensive resources ment should continue to prosecute internal improvements of this powerful nation? If station gives influence to indi- by direct appropriations of money, or by subscriptions for vidual opinions, the committee are fortified with those of stock in companies incorporated in the respective States



TREASURY DEPARTMENT, December 15, 1830. SIR: I have the honor to transmit a report prepared in obedience to the “ Act supplementary to the act to estzblish the Treasury Department.” I have the honor to be, with great respect, your obedient servant,


Secretary of the Treasury. The Hon. the PRESIDENT of the Senate U. S.

REPORT ON THE FINANCES. In obedience to the directions of the “ Act supplementary to the act to establish the Treasury Department,” the Secretary of the Treasury respectfully submits the following report.

1. OF THE PUBLIC REVENUE AND EXPENDITURES. The receipts into the Treasury, from all sources, during the year 1828, were The expenditures for the same year, including payments on account of the public debt, and in

cluding $790,069 40 for awards under the first article of the treaty of Ghent, were

$24,763,629 23

25,459,479 52

$5,972,435 81 24,827,627 38

The balance in the Treasury on the 1st of January, 1829, was
The receipts from all sources during the year 1829, were
Viz: Customs

Dividends on bank stock
Incidental receipts

1,517,175 13

490,000 00
138,486 54

30,800,063 19 25,044,358 40

Making, with the balance, an aggregate of

The expenditures for the same year, were
Viz: Civil list, foreign intercourse, and miscellaneous, including $9,033 38 for
awards under the first article of the treaty of Ghent

3,101,514 87
Military service, including fortifications, ordnance, Indian affairs, pensions,
arming the militia, and internal improvements

6,250,230 28
Naval service, including the gradual improvement of the Navy

- 3,308,745 47 Public debt

- 12,383,867 78

Leaving a balance in the Treasury on the 1st of January, 1830, of

5,755,704 79


Report on the Finances.

[21st Cong. 2d Sess. The receipts into the Treasury during the first three quarters of the present year, are estimated at

- 19,136,018 79 Viz: Customs

17,268,122 74 * Lands

1,293,719 27 Bank clividends

490,000 00 Misce eous

84,176 78


The receipts for the fourth quarter are estimated at

5,025,000 00

24,161,018 79

29,916,723 58


Making the total estimated receipts of the year ·
And, with the balance on the 1st of January, 1830, forming an aggregate of
The expenditures for the first three quarters of the present year are estimated

- 20,780,936 84
Civil list, foreign intercourse, and miscellaneous

2,460,872 48 Military service, including fortifications, ordnance, Indian affairs, arming the militia, and internal improvements

5,728,976 52 Naval establishment, including the gradual improvement of the nary

2,651,457 75 Public debt

9,939,630 09

The expenditures for the fourth quarter, including $1,415,000 on account of the

public debt, are estimated, on data furnished by the respective Departments, at 4,316,004 98

PH Making the total estimated expenditures of the year

25,096,941 82 And leaving in the Treasury on the 1st of January, 1831, an estimated balance of

4,819,781 76 which, however, includes the funds, estimated at $1,400,000, heretofore reported by this Department as not effective.

The appropriations remaining unsatisfied at the close of the ycar arc estimated at $5,256,566 32; but, of this amount, it is estimated by the proper Departments,

1. That the sum of $3,740,552 96, only, will be required for the objects for which they were appropriated; 2. That the sum of $1,375,154 77 will not be required, and may, therefore, be considered as an excess of appro

priation, and is intended to be applied, without being reappropriated, in aid of the service of the year 1831,

as will more fully appear when the estimates of the appropriations for that year are presented; 3. That the sum of $140,858 59 will be carried to the surplus fund at the close of the year, either because the ob.

jects for which it was appropriated are completed, or because these moneys will not be required for, or will be no longer applicable to them.

2. OF THE PUBLIC DEBT. The total amount of the public debt of the United States, on the 1st of January, 1830, was $48,565,406 50

Viz: 1. Funded debt

48,522,869 93 Consisting of Six per cent. stock

6,440,556 17 Five per cent. stocks, including the $7,000,000 subscribed to the Bank of the United States

- 12,792,000 20 Four and a half per cent. stock

· 15,994,064 11 Three per cent. stocks

- 13,296, 249 45 2. Unfunded debt

42,536 57 Consisting of Registered debt, being claims registered prior to the year 1798, for services and supplies during the Revolutionary war

28,921 48 Treasury notes outstanding

8,010 00 Mississippi stock outstanding

5,605 09 The payments made, and to be made, on account of the public debt, for the year 1830, are estimated at

- 11,354,630 09 of this sum there will have been paid for interest

1,912,415 27 Making the reduction in the principal

9,442,214 82 Viz: Six per cents.

6,440,556 17 Five per cents. subscribed to the Bank of the United States

3,000,000 00 Registered debt

225 65 Treasury notes

833 00 Mississippi stock

600 00

[ocr errors]

39,123,191 68

And leaving the total debt on the 1st of January, 1831 Viz: Funded debt

Unfunded debt

39,082,461 88

40,729 80

[blocks in formation]
[ocr errors]

of the sum applied to the public debt in the year 1830, these circumstances upon the revenne will be, in some de $10,000,000 were the amount of the appropriation for the gree, counteracted by the increased capacity of the counyear, under the second section of the Sinking Fund act of try for consumption, as evinced by the enlarged amount 1817; and the remaining $1,354,630 09, taken from sur- of domestic exports, the general prosperity of mercantile plus moneys in the Treasury, were, with the approbation business, and the favorable state of exchange with foreign of the President, placed at the disposal of the Commis- countries; to which may be added the opening of the trade sioners of the Sinking Fund, and applied under the first with the British colonies in the West Indies, and on the section of the act of 24th May last.

North American continent. The five per cent. stock subscribed to the bank being The revenue arising from the sales of public lands will at all times subject to redemption, and the high market be improved by the same general causes which tend to price of other stocks not offering any inducement to pur. improve that from the customs. chase, the discretionary authority given to the Commission From a view of all those facts and considerations, the ers of the Sinking Fund, by the second section of the act receipts for the year 1831 are estimated at $23,340,000, last referred to, has not been exercised; and, from the viz: large amount of debt that is redeemable in the year 1831, Customs,

- $21,000,000 00 and within the first two days of 1832, it is not probable Lands,

1,700,000 00 that it will be necessary to resort to it in the year 1831. Bank dividends,

490,000 00 The debt which will remain unpaid on the 1st of Janu- Incidental receipts, including arrears of ary, 1831, will be redeemable as follows:

internal duties, direct tax, and canal tolls, 150,000 00 At the pleasure of the Go. vernment, - $13,296,397 57 of 3 per cents.

$23,340,000 00 And

4,000,000 00 of 5 per cents., The expenditures for 1831 are estimated at $23,228,065 86, subscription to


Bank of U. S. After six months' notice, 1,539,336 16 of 4 percents.

Civil list, foreign intercourse, and miscel

laneous, After 31st Dec. 1831, 5,000,000 00 of 4 do.

$2,585,152 68 After 1st January, 1832,

Military service, including fortifications, 5,000,000 00 of 43 do. And 999,999 13 of 5 do.

ordnance, Indian affairs, pensions, armAfter 31st Dec. 1832,

ing the militia, and internal improve56,704 77 of 5 do. And

ment, 2,227,363 97 of 4! do.

6,789,317 89 After 31st Dec. 1833,

Naval service, including the gradual im2,227,363 98 of 4! do. After 1st January, 1835, 4,735,296 30 of 5 do.

provement of the navy,

3,853,595 29 Public debt,

10,000,000 00 As the means for the redemption of those portions of the public debt which are redeemable at the commence.

$23,228,065 86 ment of any year are to be provided at the close of the previous year, and are actually drawn from the Treasury

In the estimate of expenditures for 1831, are included at that time, such stocks may be considered, for the pur- $1,375,154 77 of the appropriations for 1830, which were poses of this report, as redeemable in the previous year.

not required for the service of that year; and are applicable

for the service of 1831, without being re-appropriated, riz. 3. OF THE ESTIMATES OF THE PUBLIC REVENUE, AND EX- civil, foreign intercourse, and miscellaneous, $40,833 18; PENDITURES FOR THE YEAR 1831.

military, $815,921 10; and naval, $518,400 49. The amount of imports into the United States for the In respect to the duties on imports and tonnage, the year ending on the 30th of September, 1830, is estimated estimate above presented will not apply for the succeed. at $68,500,000, and the amount of exports at $73,800,000; ing year; for, when the reduction made at the last session of which $59,400,000 were domestic, and $14,400,000 shall have gone into full effect, the revenue will, according foreign products.

to the average of the last four years, viz. from 1826 to The amount of custom-house bonds in suit, on the 30th 1829, inclusive, be diminished $3,664,435. September last, was $6,865,420; which sum includes all The proceeds of the sales of public lands will probably that remain in suit since the establishment of the Govern- be somewbat increased; but the amount of these sales will ment, and exceeds, by $273,706, the amount in suit on the be limited by the ability of those who purchase lands for corresponding day of the last year.

their own cultivation, adventurous speculation having The amount of duties on imports and tonnage, which ceased with the credit system. This source of revenue, accrued in the first three quarters of the year 1830, is es- therefore, except so far as it may be affected by future timated at $20,570,000, and in the fourth quarter at legislation, may be relied upon hereafter to sustain the $5,610,000.

estimate made for 1891. The amount of debentures issued during the first three The reduction in the receipts from the customs will be quarters of the year 1830 is estimated at $3,331,895; and partially made up by an increased importation of the artithe amount outstanding on the 30th September last, and cles on which the duties have been reduced, at least so far chargeable upon the year 1831, at $1,411,801.

as the consumption of them may have been hitherto reIt is estimated that the accruing duty on coffee and strained by the amount of the duty; but the reduction in cocoa imported in 1830, and remaining in store on the 1st the rates of duty is so great, that no increase in the conof January, 1831, will be reduced about $500,000, by the sumption can be looked for so extensive as to make up any operation of the acts of the last session, reducing the du- considerable portion of the deficiency; and, although the ties on those articles; and that the duties on coffee, cocoa, income and expenditure of the community may continue salt, and molasses, accruing in 1831, and payable within to bear the same relation to each other as heretofore, the that year, will, upon a like consumption to that of 1829, amount of the duty saved to the consumer, instead of being be further diminished by those acts about $600,000. The applied wholly to the purchase of an increased quantity of repeal of the duties on tonnage, which will take effect on those articles, will be distributed upon all the articles of the 1st of April next, will further reduce the revenue of consumption, domestic and foreign, dutiable and free. the next year about $75,000. The subsequent reduction In looking forward to the probable changes in the fiscal of the duties on tea, coffee, and salt, on the 1st of January, operations of the Government, when the public debt shall 1832, will probably lessen the usual importation of those be completely extinguished, it is worthy of observation, articles for the demand of 1831. But the influence of that, with the exception of a single year, (1828,) there

[blocks in formation]

has been a gradual reduction of imports since the year average value, some legislative provision will be necessary 1825, and a continued reduction in the exports of foreign to afford the proper relief. It may also be expedient merchandise during the same period. These facts suggest to except some articles from the operation of the clause various considerations, to be taken into view in estimating before referred to. Laces, in particular, are represented to the future revenues of the Government; they also show, be almost necessarily imported of different qualities in the among other matters worthy of notice, that the navigating same package; and some permanent inconvenience will be interest employed in foreign commerce, and particularly incurred to the trade in these articles, if the importer is in the carrying trade, must have suffered a material de- obliged to have them assorted. It is also desirable that pression. That portion of the carrying trade which is un- the character of the package for each description of goods fettered by navigation laws will necessarily fall into the required to be appraised upon the average of the best hands of those who can navigate cheapest; and this falling article, should be defined by law. The Department has off

' gives reason to apprehend that the superiority, hereto- endeavored to obviate some of the inconveniences arising fore claimed for American skill and economy in this pursuit, from the change, and at the same time to secure the obis yielding to more fortunate rivalry, and suggests the ex-jects of the act, by allowing the parcels of such good pediency of considering how far that interest may, without which were put up separately, and designated as packages injury to others, be relieved from its depression.

on the invoice, though enclosed in one general package, The annexed paper, marked M, exhibits a detailed to be regarded as packages for appraisement within the statement of the quantity and value of imports and ex- meaning of the law. But the constant efforts to abuse ports liable to specific duties, and the value of those pay- this regulation on the part of some of those for whose ing ad valorem duties, and of those free of duty, from the benefit it was adopted, and the intrinsic difficulty of fixyear 1821 to 1829 inclusive; and will furnish the means ing, without specific legislation, any positive limit to the of ascertaining the increase or decrease of each branch of extent of the parcel to be deemed a package, will probaimport and export trade, and the probable effect of any bly render it necessary, should no alteration of the law proposed change, as well upon the revenue as upon the be made, to rescind the order, and to recognise no other various interests with which they are connected.

package than the entire quantity put up in one exterior Should it be contemplated by Congress to make any box or envelope. The general operation of the clause is further reduction of the revenues preparatory to the pe- found, however, to be beneficial: it facilitates despatch riod of the final extinguishment of the public debt, it is and uniformity in the appraisement of goods, as well as respectfully suggested, that, in order to avoid impairing prevents frauds on the revenue; and, with the aid of the the necessary means for the ordinary expenditures of the modifications suggested, mercantile ingenuity will, no Government, or encroaching upon the sinking fund, it loubt, find means, by conforming the packages to the $ will be proper that such reduction should take effect at objects of the law, to avoid its inconveniences. ya period sufficiently remote for the payment of the entire Efforts have been made to give greater efficiency to

debt, as the reduction made at the last session will barely the revenue cutter service; but it has become manifest leave sufficient revenue for those objects during the en- that the compensation allowed by law to the officers is suing four years. But there are some articles on which inadequate. "The office of third lieutenant may, without the duty may be reduced without injury to the revenue, injury to the service, be abolished; and, if an equivalent and with advantage to other interests. The most striking of the compensation now allowed to that officer, were example of this nature will be found in the duty laid on divided between the other officers, and some addition spices. If the imports and exports of these articles, made to the compensation of the warrant officers, to whom known to be extensively consumed, but not produced, in important trusts are confided, the service would be essen

the United States, be compared, it will be seen that, tially improved, with but little increase of expense. during the seven years preceding 1828, the nominal ex The regulations adopted for carrying into more comports have exceeded in value the nominal imports by the plete effect the laws in relation to the revenue arising from sum of $168,155. Whether the consumption has been customs, will be hereafter communicated, in obedience to supplied by fraudulent importations, or whether deben the directions of the 10th section of the act in alteration tures have been paid on fraudulent exportations, the fact of the several acts imposing duties on imports, passed 19th is conclusive evidence that nothing can be lost by impos- May, 1828. There is reason to believe that material being a lower duty on those articles. The comparison for nefit has already been derived from them, and that the the last two years exhibits a more favorable result; but measures adopted will improve in their effect with the in. the difference is still much less than the actual consump-creased experience of the officers. tion: and where such extensive frauds have been so suc The reduction of the duty on salt, made at the last sescessfully practised, it is scarcely to be hoped that any sion, which will take place on the 1st of January, 1831, degree of vigilance sufficient to prevent them can be per- and 1st January, 1832, respectively, would seem to renmanently maintained under the same temptation. der it proper to make a corresponding reduction in the

The attention of Congress is respectfully invited to the drawback allowed on the exportation of pickled fish, which operation of a clause of the 3d section of the act, entitled is fixed by the act of 29th July, 1813, at twenty cents per

" An act for the more effectual collection of the duties barrel, that being at the time the duty charged on one con imports,” passed 28th May, 1830. The rule therein bushel of salt. Unless the law allowing the drawback * prescribed for appraising certain goods in packages, by shall be previously modified, the exporter will begin to : adopting the value of the best article in each package as receive, after the 1st of January next, a greater amount an average for the whole, went into effect on the 1st of of drawback than the duty previously paid on the salt. October last. The notice was too short to allow of new It is of great importance, as well to the revenue as to orders being given in all cases; and some embarrassment all the interests involved in the importation of foreign merhas arisen in the appraisement of such articles as had, for chandise, that the action of the custom-houses should sethe convenience of trade, and without any intent to de- cure, as nearly as possible, a uniform payment of duty fraud the revenue, been usually put up in mixed pack- upon the proper value of imports, as contemplated by ages. In anticipation of this difficulty, directions were law; but there are insuperable difficulties opposed to the given to the Collectors to ascertain, until the 1st of Janua- accomplishment of this object, under the present system ly next, the diffe ence, in each case, between the amount of impost duties, to which the Secretary of the Treasury of duty imposed according to this mode, and that which would respectfully invite the serious attention of Congress. would have accrued according to the customary mode; The valuation on which the ad valorem duties are now but, as the bonds have been taken for the duties on the laid, is ascertained from the true or current value of the

« PrejšnjaNaprej »