The Sun.
London, England, 1823-02-03 00:00:00

last, has amounted to 49,874,078 dollars, and that foreign artici,s
exported during the same period linve amounted to 22,286,202
dollars.
As the receipts from the customs in the year 1323 depend,
Ist, upon the amount of duty bonds which become due within
that year, after deducting the cxpences of collection, and the.
amount of' debentures chargeable upon them ; and, 2d, upon
-such portion of the duties scented in the first and second quar-
ters of that year as are payable within the year ; it is manifest
that an increase in the amount of debentures chargeable upon
the revenue of the year 1823, or a diminution of the importa-
tions of foreign, merchandise during the two first quarters of
that year, must necessarily diminish the receipts into the Trea-
sury. As debentures can be issued at any time within twelve
months alter importation, chargeable upoir bonds given for the
duties upon such importation, it is impossible to foresee the
amount which
,may be chargeable upon the bonds that are pay-
able during the year 1823, The fats, however, which have
been stated, justify the conchision, that the amount of deben-
tures which will be issued arid charged upon the revenue of
1823 will considerably exceed the amount which was charge-
able upon that of 11322. From the same facts, it is also pre-
sumed that the importations of the two first quarters of the
'Year 1823 will be less than the corresponding quarters of the
present year.'
iv in . due weight to all the facts connected with the subject, the
reeei 'Aim year 1823 may be estiniatetint Dols. 21,100,090
viz • - 19,908,080'
Public Lan& - 1,600,000
Bank Dividends - • . 350,000
Arrears of internal duties and di-

rect, and i n Cid en tal receipts
:To which Is to be added* e sum of
Remaining in the Treasury, af-
ter satisfying the balances of
appropriations, chargeable up:
: on the revenue of 1822, which
makes the entire means of the
year 1823 amount to
The expenditure of the year 1823
is estimated at - • .
Civil, diplomatic, and mis-
cellancous
Military service, including forti-
fications, ordnance, Indian de-
pertinent, revolutionary and
military pensions, arming the
militia, and arrearages prior to
. the Ist of Jan. 181/ -
Naval service, including the gra-
,dual increase of the Navy
Public debt

150,000
- - 1,916,135 56

- 23,016,135 56

- . 15,059,597 22

1,599,317 35

5034,292::76

2,723,987 12
- 5,602,000 0

Which being deducted from the above sum,
mill leave in the Treasury on the Ist day of
January, 1824, after satisfying the current
demands of the year 1823, a sum estimated at 7,90,538 34

'Although the facts already disclosed justify the conclusion
that the importations of the present year exceed the value of
eoinestic articles exported during the year, yet 'there are no
means of, ascertaining the extent of that excess. if the Cus-
tom.liduee doeuments were to be considered conclusive evidence
..upon this atil)jeet, it would be apparent that die nation has,
through the whole period of its existence, imported more in
value than it has exported. But the fact is incontestable that
the United States, have enjoyed a more uninterrupted prospe-
rity, and have increased their capital to a greater relative ex-
tent, than any of the nations with whom they have maintained
commercial intercourse.

To show that the custoin.house document's cannot be consider,
ed conclusive evidence in this case, it is proper to observe--Ist,
that the value of articles paying duties ad valorem, imported
into the United States, is ascertained by edding to the invoice
value 20 per cent. if from beyond the Cape of flood Tope, and
10 per cent. from all other places; whilst the. value of domestic
articles exported is ascertained at the port of shipment without
any such addition. 2d, The greatest portion of the itriporta-
tins, and exportations are made in vessels of the United States.
37, The capital employed in the trade of the Noah-west Coast
and the Pacific Ocean, consists almost exclusively of the labour
end enterprise of those engaged in it. Foreign articles, the pro.
testis of those enterprises, imported inte the United States, are,
therefore, only equivalent to the labour and enterprise by which
they were procured. 4th, The value :of domestic articles ex-
ported is more imperfectly ascertained than of foreign articles
imported, because it has not been considered necessary to resort
to the same sanctions to cnforce a compliance with the regula.
done which have been prescribed for that purpose. To ricer..
tain the relative value of imports and exports, it is neceesary,
—lst, That the same additions should be made to the Invoice
value of the latter as are required by law to be made to the for.
Inc.e 2a, The freight of domestic ankles exported in Ameri.
can vessels should be added to their value, 4(n:rib:ducting from
it the freight of foreign articles imported in foreign vessels.
3d; The value of foreign articles imported. in Vesaels engaged in
the trade of the North-west Coast and .Paeitie Ocean, the pro.
reeds of the labour and enterprise of those by whom they are
innalvpoienisateittle, sttmatislcielrbtaie
:awehaatot
ad‘ilidtioirsstillocueix beas m.
attotetolttilies
value of tile domestic exports, un account of the, omission of the
exporters to state correctly the value of articles exported by
them ; but, after making a liberal allowance tar fonagn articles
illicitly introduced. or inaccurntely invoiced, it is believed that
a considerable addition should I.e made.
If, then, to the amount of domestic articles exported. during
the year ending on the 30th of September last, already esti.
mated at 49,874,079 dollars, the additions should be made which
the preceding facts and consideration§ appear to authorize, the
value of our domestic exports during that period may be esti-
mated at nearly 60,000,000.
Although no calculation has been completed,: showing the ave.
rage rate of duty upon the value of. foreign :trades imported
into the United States, it iv presumed that nn importation of
80,000,000 dollars of foreign merchandise will not produce a
less revenue than 1.7,00,0u0 dollars. . die receipts from the
customs' during the year 1823 have been estimated at 19,000,000
it is probable that the receipts from the same source, in 1024,
which will depend upon the importations of 1023, will not exceed
15,000,000 dollars. Under the most unfavourable eircumstan.
ces, it is believed that the receipts of that year will be sufficient
to discharge all demands upon the treasury which may be au-
thorized by law.
lithe current appropriations for the year 1825 shall be equal
to those required by the estimates or the ensuing year, the 'ex-
penditure of that year may be estimated at 29,253,597 22
Viz.—Current appropriations 0,570,722 22
Permanent appropriations for arm-
ing the nuhtia, and Indian tut-
. ntotios _
Gradual increase of the navy .
Public debt, including balances
unapplied iu 1023 and 1024,
amounting to . - 8,726,000 0 10,796,000 0
The'means of the Tr e a stir y to Milt this extraordinary ex-
penditure, consist,
Ist. Of the balance which may be in the Treasury on the Ist of
Jan. of that year, estimated at 8,000,000
And, 2d. Of the receipts of that
year, estimated at 19,000,000
Vii. Customs 17,000,000
Public lands 1,600,000
Bank dividends - • 350,000
Incidental receipts - 50,000
Making together an aggregate of

870,875 0
500;000 U

'27,000,000 0

And leaving a deficit of about 1,21i0.000 0
In this (stimate the receipts and expenditures of the year
102.4 are estimated to be nearly equal. It is probable, how-
ever, that the receipts may exec, to a small extent, the ex-
penditures ; but there is at least an equal probability that the
receipts for the year 11125 are estimated too high. in the year
1020, the expenditure, assuming the current appropriations to
be the atone as in die year 182 s, may be estimated at 19,457,000
dollars, and the rectii,:s at 19,000,000 dollars. AS the uPPre-
priation of 4500,000 dollars tirr the gradual increase of the navy
expires in that year, the annual expenditure may, fin subso-
quent years; be estimated at 19,000,000 dollars., unless it shall
I>o considered expedient to make further provision for the in-
crease of that essential means of national defeoce.
It is probable that the annual revenue ivill be equul to that
'sum, I,`o provide for the estiniattni deficit of the years -hitt% and
11126, well as to meet arty extritonlinary demands upon the
Treasury, which unforeseen exigencies may require., it is be-
lieved to be eXPediatt, that tke ftverivre ineteaSed.—
Thia May be conveniently erected by a judicious revision of the
tariiF; which, while it will not prove Oat-t 643 to the consumes,
will sitnplitY the labours of the saucers of the revenue. Atpre-
serlottneles composed of wool, cotton, flax, and hemp: PAY
difiercut rates of duty. Difßculties frequently Occur lu deter.