with the stockholders who have stipulated for a postponement of payment, to consent to the change proposed by the letter of the president of the bank, of the 15th of October, or to insist upon the performance of the original arrangement; and, should they pursue the latter course, the certificates cannot be finally surrendered before October, 1833. However this may be, and, notwithstanding the bank has disavowed the authority of the agent to purchase, it is certain that a delay, for a considerable period of time, has been, and must yet be, occasioned in the surrender of the certificates of stock to a large amount; and, it is not perceived, that there is any sufficient justification in the grounds of the transaction as assumed by the bank, for an arrangement in any form, by which so large an amount of the public funds should be retained by the bank, at the risk of the Government, after it had directed their application to the payment of the public creditor. It is apparent, however, that the apprehensions arising out of the arrangement, as it is understood to have been concluded by the agent of the bank, and of the consequences to which it might lead, more especially should the parties in Europe insist upon its fulfilment; not less than the great amount of the bank's transactions, esqecially in its western branches, together with other matters connected with its dealings, which have occupied the attention of one branch of the legislature since the last annual report from this department, have tended to disturb the public confidence in the management of the institution; and these, taken in connexion with the necessary arrangements, in anticipation of finally closing its business, have suggested an inquiry into the security of the bank, as the depository of the public funds. The obligation of the Government, however, incurred by the notice for the payment of the public debt, in October and January, at the several loan offices, rendered any change in this respect, inexpedient, at least withou such an examination into the actual condition of the bank as justice to the institution, not less than to the community at large, required. Such an examination as this department is authorized by the charter to make, has been directed; and it is submittedt to the wisdom of Congress to decide whether it shall be extended further. The act of the 10th of May, 1800, which directs the annual report from the Secretary of the Treasury, would seem also to require that he should, in tha communication, give information to Congress of any matters, either existing or apprehended, which seriously concern the collection of the revenue; and, in the discharge of that duty, it is his task to advert to the measures now in agitation in the State of South Carolina, altoge her to prevent, at an early day, the execution of the present revenue laws, within that State. Such steps as are authorized and required by law, have already been taken, to continue the due collection of the revenue: but, if the extraordinary measures which have been commenced by those exercising the authority of that State, should be carried out to the extent which, unhappily, there seems too much reason to apprehend, it is clear, that all the aids which the existing laws afford will be inadequate to that object. Until, however, those mea sures shall be further matured, and more distinctly and officially known to the executive, it is deemed proper to abstain from more specific reference to the subject, in this report: though its great importance, and the deep solici tude which it has excited, have already directed the attention of the depart ment to the remedies which that contingency may require The notice of Congress is respectfully invited to the accompanying repor from the Commissioner of the General Land Office, shewing the transaction> in that branch of the public service, during the presen year; and exhibitin both its present condition, and the means deemed necessary by that office for its proper and successful administration." All which is respectfully submitted. TREASURY DEPARTMENT, December 5, 1832 LOUIS MCLANE, Secretary of the Treasury A statement exhibiting the value and quantities, respectively, of merchandise, on which duties actually accrued during the year 1831. (consisting of the difference between art cles paying duty imported, and those entitled to drawback re-exported ;) and also of the nett revenue which accrued during the same period, from duties on merchandise, ten nage, light-money, passports, and clearances. Merchandise paying Duties ad valorem. 44.560 doils. at 12 per cent...... $ 5,347 20 3,301,392..do......12}....do............ 412,674 00 4,434 468..do......15.....de............ 665.170 20 11,807,570.. do...... .20....do..... 2,361.514 00 32,600,183..do......25....do............ 8,150.045 75 4,420,155..do......30....do.......... 1,326,046 50 1,025,480..do......33.. do.......... 1,884,405..do......35....do............ 345,340..do......40.. .do.. 341.826 66 659,541 75 138,136 00 3,540,177 45 69,878,295... 18,674,320 01 7,867,061..do......45....do............ ....av.27 26.72.... Duties on specific articles. 1. Wines, 3,690,465 galls. at 18.09 cts. av. 667,841 60 2. Spirits, 1,752,361....do...59.41...... 1,041,222 43 Molasses, 15,441,476....do....5......... - Do. 3. Teas, 772,073 80 4,067....do...10.......... 406 70 5,459,293....lbe..31.75...... 1,733,778 34 4. Coffee, 79,010,212....do....1.97...... 1,557,981 05 5. Sugar, 69,958,687....do....3.06...... 2,145,303 37 6. Salt, 3,036,487....do..15......... 7. All other articles,................ 454,791 15 4,606,921 69 12,980,320 13 $31,654 640 14 From which deduct duties on merchandise refunded, after deducting therefrom duties which accrued on merchandise imported, the particulars of which were not rendered by collectors, and difference of calculation, To which add 10 per cent. extra duty on foreign vessels,........ Discount for prompt payment,. Interest on custom house bonds,... 29,881, 17 2,969 80 22,510 37 312,072 35 $31,342,567 79 Storage received,.. 2. SPIRITS. From grain, 1st proof 378,927 galls. at 57 cents 2d do.... 14,065....do....60...... 1 60 215.629 29 8,439 00 3d do.... 4th do.... 5th do.... Other materials 1st & 2d do.... Deduct exported.. 33,347....do....63..... 4,192....do....67...... 10,220....du....75...... 75,352 ...do....53...... 3d do. 585,434....do....57.... 3. TEAS. Bohea....... ... 17,822....do....72...... 21,008 61 2,808 64 7.665 00 39,936 59 333,697 38 ... 1,752,361 average..59.41....1,04 Souchong and other black.... 1,350,553....do....25...... Hyson and Young Hyson.... 2,541,548....do....40... Extra duty on teas imported from other places than China, 106,349 60 15,723 96 1,016.619 20 31,938 66 158,777 00 1.732,911 07 867 27 5,459,293 average,..31.75.. 1,733,778 34 4. COFFEE. Imported...... 78,413.909 pounds at 2 cents 1,568.278 18 do..........do............ 1,002,807....do......1........... 10,028 07 69,058,687 average,..3 06.. 6. SALT. Imported bushels of 4,498,330 at.....15 cts .. Exported bushels......22,241................15. 3,336 15 slit and rolled..................do.. Steel............ 354 156,045 62 329,689 185 97,528 12 609,924 65 ..................cwt. Hemp, unmanufactured .......do. ......... 17,817 ....pounds 6,847.149 |