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and were not redeemed by

 the last loan, amounts to $4,656,387 45

 Placing the responsibilities of 1845 for the present out of view, we want eight millions five hundred thousand dollors, to make up the deficiency of the fiscal year. Let us see what the Secretary recommends in the way of retrenchment, and replenishing, to meet our obligations. He believes some collec- tion districts may be abolished of judicial condemnation of goods may be re- duced-a discontinuance of certain unproft- able Land offices, together with other reforms which promise altogether but slight saving te.Government. Then, to make up the de-

 iciency, nothing can be made, he thinks, in the way of economy, by modifying the Land Laws. The ultimate resource, he believes, must be duties on imports, as being the most easy and tangible. Sufficient confirmation has not yet been received in relation to the operation of the last Tariff Act, to speak of 1t with certainty. The duties on certain quali- ties of iron, coal, and sugar, are by some considered too high :; but as no increase of duty on the present Tariff is contemplated, the Secretary proceeds to inquire what art- cles now admitted free will bear the pay ment of duties. He has, therefore, specified tea and coffee as proper for impost Import CTS and other persons are in favor of duties on these articles, being less burdensome than many other articles on which duties are lev jed.

 The duties of teas and sugar, were taken off on the payment of the Public Debt, and when the revenue did not require them; but now the condition of the country requires reve- nue, and 1t is recommended to impose duty of five cents per pound on all teas costing D cents, of seven cents on those costing be- tween 9 and 35 cents, and thus advancing the duties. On coffee, duty of two cents per pound from Asia, Africa and America, and three cents from Europe. From the du- ties on these two articles thus graduated, it is supposed four millions annually will be added to the revenue-a large sum to be col lected, and the tax very light on eighteen millions of consumers. For reasons set forth, it is not recommended to revive the Tonnage Duties. A duty of six cents ton on all vessels engaged in foreign trade is re- commended, and very sound and cogent ar guments are advanced in favor of the ware house system. Considerable portion of the Report is devoted to loans, and the issue of Treasury notes to meet the current expens- es of Government; and the Secretary main tains with ability the expediency and consti- tutionality of that measure, in preference to resort to Government loans. There have been, he says, no defalcations among Collect ing Officers, and there is strict watchful- ness on their accounts. We learn, therefore, that there is deficiency of eight millions and half in the revenue for the current year, and about five millions can be added to the public coffers, and few other articles, and small sum can be saved by judicious curtailments.