The annual report of the Secretary of the Treasury, Mr.
Guthrie, had been printed. It derives its main interest from the fact that it propounds the Government plan for the revision of the tariff In the first place, the list of free articles is enlarged so as to take from the revenue eight mil- lions of dollars. The next point is, that there will be only two classes of duties ; articles specified at 100 per cent ad valorem ; and all articles not specified, except those in the free list, at 25 per cent ad valorem. These modifications it is not proposed to effect until the 1st January 1855. Together they reduce the revenue by 12,500,000 dollars. The estimates for the current fiscal year are—income, 66,572,079 dollars; expenditure, 46,203,825 dollars. Since the 1st July 1852, up to the 3d December 1853, the purchases of the public debt amount to 16,064,929 dollars. The total imports'ind exports for the fiscal year, ending 30th June last, were—imports 267,978,647 dollars, these including 4,201,382 dol- lars of foreign specie; the exports, 230,452,250 dollars, of which 27,486,876 dollars were specie. The Secretary of the Navy recommends the appropriation of five mil- lions of dollars to build steam-frigates. He says there are not forty ships which if needed could be brought into service in ninety days. The Se- cretary at War recommends the increase of the forces, from a minimum of 15,000 men, to 17,000 in peace, and in war to 27,000.
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