The Express.
London, England, 1847-08-11 00:00:00

THE EXPRESS, WEDNESDAY EVENING, AUGUST 11, 1847.

WORKING OP THE NEW UNITED STATES T%IiIPP.—WS I
extract the following remarks on this subject from the Nets
York Herald
" The and valorem tariff of 1846 works admirably. The •
revenue front customs for the past seven months exceeds
that of the corresponding period, under the tiriff of 1842, in
the previous year, early one and a half million of dollars.
This Increase has been realised in the face of a large Impor-
tation of specie, and of course a diminished importation of
merchandise, to what there would have been had there been
no shipments of specie from the other side. Under other
circumstances, the twenty-five millions of dollars received in
specie within the past six months would have been received
in merchandise, and the revenue from customs, in that event
would have been several millions larger. The increase upon
the receipts of last year would have been from three to
five millions of dollars, instead of one and a half, for
the seven months. The importations of merchandise since the
new tariff went into operation, have been less than estimated,
while the exportations have been much larger. Had our ex-
portations bean paid for in foreign merchandise,we should have
d a more favourable repertto make relative to the revenue
than that given above. The prospect now is, that our fall
trade will be unusually large; and our fall importation will,
without doubt, also be very large. The exportation of specie
from the other silo hes nearly ceased, and the probability is
that the value of our imports of merchandise will correspond
more with the value of merchandise exported than they
have for some time past. In the event of the harvests in
Europe being as large as anticipated, and thou of this
country being larger than last year's, there will be a much
greater surplus than we have ever had yet, and priors will
touch a low point. The surplus in this country will,
without doubt, be immense. and we have no doubt that
large shipments of breadstuff* will be made to Europe on
speculation, on home account. Should this be carried
to any extent, of which there is every probability, it will
give a great impetus to our import trade, and tend to swell
the revenue from customs. All this will aid and comfort the
secretary of the treasury, and add to our resources for pro-
secuting the Mexican war, if it should not before that be
closed. The receipts into the treasury from the tariff of
duties placed upon imports into Mexico, as a source of in-
come, were not calculated upon when the present tariff of the
United States was planned and perfected, and the revenue
from that quarter will make up part of the deficiency caused
by the la importation of specie. There is one thing pretty
r
conclusively settled in relation to the tariff of ME, and that
is its successful operation, which places it beyond any mate-
rial alteration or modification. Whatever may be the
political complexion of the lower house of Congress, this de-
mirtment of our commercial system is beyond their control.
This is a very important matter, as permanency is more to be
desired in this than in anything else connected with commer-
cial affairs, which the government have the regulation of."
RAILROADS AND THE ELECTRIC TELEORApiI IN ENG-
LAND AND AMERICA.—In his " Letters from Europe,"
at present in the course of publication in the New York
Herald, the editor says :—" I have now been nearly three
weeks in England, and in that time have travelled from one
end of the country to the other—from the British Channel,
in the south, to the head of the Murray Firth, in the north
—from Southampton to Inverness'. In that time, also, I
have spent the last week in London. Travelling through-
out England is reduced to morning excursions—or at most
to those of a day's length. You can touch the two Nue.
mitics of the realm, in either direction, in the brief compass,
of a day. Railroads have made greater progress here than
. in the United States; but we are fu ahead of them in
electricity, as yet."
GRAIN SUPPLIES OP THE UNITED STATES.—We have
been favoured with the following extract of a letter from a
' merchant is New York The stock of corn in North
America on hand is of such magnitude that all the channels
of transit from the interior to the seaboard, whether they be
canals or railroads, are absolutely choked up by barrels of
' flour and sacks of wheat, corn, and cornmeal. A few days
ago the papers stated that, on the Erie canal, they were
locking down boats day and night with all speed, only being
limited by the capacity of locks, to do the business with
, more rapidity, and yet there was nevertheless a crowd of
boats aceumulatiag and accumulated four miles in length.
The eame is the case from Detroit to Montreal, sources
: whence much matter is conveyed here. And here just now
the stock is rapidly increasing for want of good ships to con-
, vey it hence. The arrival of flour alone averages 30,000
barrels per day, besides wheat, corn, and cornmeal, all taken
together, to an equal amount This is not all North Ame-
rica, but New York city. I have heard gentlemen my the
arrivals will continue thus large until the frost lock" up the
rivers and roads."