21 DECEMBER 1867, Page 2

For next year, founding his calculations on the quarter already

elapsed, Mr. M'Culloch estimates as follows :—




Customs 32,676,000

Civil Service

10,080,000 Lands 197,000 Pensions & Indiana 6,496,000 Direct Tax 129,000 War 26,107,000* Internal Revenue.. 41,756,000 Navy 5,514,000 Miscellaneous 8,672,000 Interest 30,503,000



• Including £4,900,000 for Bountie3.

—leaving altogether 4,780,0001. for reduction of loans on the revenue

and expenditure of the year, besides whatever Mr. M'Culloch may propose to apply out of the balances, or out of any savings Con- gress may determine to make in the present expenditure. Mr. M'Culloch is very anxious to go on with the policy of diminishing the currency with a view to returning to specie payments, but it is not very likely that Congress will allow him to have his way.