Norfolk Gazette And Publick Ledger

At the opening of the present session of Congress, the President, among other matters, recommended to the consideration of that body, the employment of the surplus revenue, and to give this act of the farce, stage effect, a committee of the House of Representatives was gravely appointed for that object; of which the honourable the Speaker, named Mr. Randolph chairman. The Report of the Secretary of the Treasury, which is published in this day's paper, induces us to believe, that Mr. Randolph may, without detriment to the publick service, inform Mr. Speaker, that the committee may be discharged for the want of employment.

The Report of Mr. Gallatin is easy to be comprehended, and does by no means afford that pleasing view of the finances, which the President's communication induced us to expect. It appears that after all is calculated upon, that in the year 1809, there will be a surplus of three millions of dollars, but this calculation is made under the expectation that there is to be no additional expenses; not a word of the additional naval establishment, which alone is put down at 2,600,000 dollars, not a word of the 100,000 militia, and many other items of unavoidable expenditure.

A very heavy item is but glanced at by Mr. Gallatin, and that is the account due on debenture bonds for drawbacks. That amount may be estimated with tolerable accuracy. Taking several years, one with another, the amount of drawbacks is, within a small fraction, about one third of the gross revenue. The amount of gross revenue for 1809 is put down at nearly 18 millions of dollars, one third of which, six millions would be drawn from the treasury, if the embargo is raised. If the embargo is continued, as Mr. Gallatin very justly remarks, exportations ceasing, importations will also cease, and thus the revenue arising from duties on imports, will fail.

The report of Mr. Gallatin and the report of the Committee of Foreign Relations appear to conflict. The Committee recommend a Non-Intercourse with Great Britain and France, which has been adopted by the House of Representatives. If the Non-Intercourse resolutions pass into a law, it becomes matter of enquiry, on what articles are the proposed duties to be imposed. It is proposed to double the duties on importations, and the renewal of the duty on salt is hinted at. Two consequences will follow from this augmentation of duties, the temptations for smuggling being so much increased, that this practice will increase, or the high price of imported articles will cause them to be less used, and both will have the same effect on the revenue.

Mr. Gallatin has explicitly stated what has always been asserted by the opposers of the present ruinous measures, that is, that the French decrees did not endanger our commerce beyond their own ports and those of her allies. Yet those decrees produced the embargo. This report recommends a modification of the embargo, so as to relieve the agricultural interest, while the marine and mercantile interests are left to ruin. We shall feel happy to perceive the condition of any portion of the people ameliorated, but this is a modification that is not much calculated to remove the jealousies already existing. The admission of neutral vessels, who will become our carriers, may relieve the agricultural interest, and increase the revenue, but will defeat the objects of the embargo as completely and effectually as if it did not exist; while the navigation of the country will be exposed to certain ruin.

Although this report does not afford the most pleasing view of our affairs, it cannot fail to produce a good effect on the publick mind, by dispelling those mists which have obscured our view of the real state of the nation.