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if the amount to be received on the Loan account be deducted, (as it undoubtedly should be,) from the receipts.

The fourth and last part of Mr. Esteva's Report, (page 37 to 52) explains the means by which, in his opinion, this deficit might be covered. They were:—

1st. The re-establishment of the Monopoly of Tobacco on the same footing as in 1809, the Supreme Government being invested with powers similar to those exercised by the Viceroys, for the prevention of Smuggling. (Page 43.)

2dly. The closing of most of the ports recently opened to Foreign Trade, which are stated, "greatly to exceed in number the wants of the country, and to serve only to facilitate Smuggling." (Page 46,) And,

3dly. The raising of the Duties on gold and silver to the standard of 1799, which is recommended as expedient, both "because it would not be a great hardship to the miner to pay, in 1825, the duties which he could so well afford to pay in 1801, and because, at all events, the loss would fall,