The Virginian. [volume] (Lynchburg [Va.]) 1822-1829, 1823-01-03

hthNhty On Tue Isl NhS on IN
nuary, 1924, after satisfying
the current demands of the
year 1923, Il sum estimated at s., 956, 538 "a
Although the facts already disclosed
Justify the conclusion that the importations
Of the present year exceed the value of do
nestle articles exported during the year,
yet there are no means of ascertaining the
extent of that excess. Ii the custom house
documents were to be considered conclu-
sye evidence upon this subject, it would
be apparent that the nation has, through
the whole period of its existence, imported
more in value than it has exported. But
the fact is inccntestible that the United
States have enjoyed more uninterrupted
prosperity, and have increased their capita
to a greater relative extent, than any Of
the nations with whom they have mantain
ed commercial intercourse.
To shew that the custom-hoHse docu-
ments cannot be considered conclusive evil
dcnce IN this case, it is proper to observe
1st, That tho value Particles paying duties
ad valorem, imported into the United
States, is ascertained by adding 10 the in
Cape of Good Hope, and 10 per cent. from
all other places whilst the value of iomes-
tic articles exported is ascertained at the
port of shipment without any such add
ton. I'd. The greatest portion of the i'm
portatlons and expectations are made in
vessels OF the IT, States. Sd. The capital
in the trade of the North West
Coast and the Pacific Ocean consists
almost exclusively Of the labor and enter
prize of those engaged in it. Foreign arti-
cles, the proceeds of those enterprises, i'm
ported into the United States, are, there
fore, only equivalent to the labor and en-
tcrprlze by which they were procured
eth. The value of domestic articles export
I'd is more imperlectly ascertained than of
foreign articles imported because it has
not been considered necessary to resort To
the same sanctions to enforce a compli-
ance with the regulations which have been
prescribed for that purpose. TO ascertain
the relative value ofimports and exports, it
IS necessary-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 former. I'd. The freight of domes-
tic articles exported in American vessels
should be added in their value, after dednc-
ting from it the freight of foreign articles
lmported'in foreign vessels. Sd. The va
Iue Of foreign articles imported in vessels
engaged in the trade of the Northwest
Coast and Paacific Ocean, the proceeds
of the labor aud enterprise of those
by whom they are nayigated, should be ad-
ded to The domestic exports. 4th. 1t is
impossible To ascertain what addition
should be made TO the value Of the domes-
lie exports, on account of the omission of
the exporters To state correctly the value
Of articles exported by them ; hut after
making liberal allowance for foreign ar
tIcles llicitly introduced, or incorrectly in-
DICED, it is believed that a considerable ad-
lition should be made.
II then to the amount of domestic arti-
rles exported during the year ending on
The 30th of September last, already esti
mated at S40,874079, the additions should
ne made which the preceding facts and
considerations appear TO authorize, the va
ue OF our domestic exports during that pc
rod may be estimated at nearly $4,000
J00.
Although no calculation has been com
pletcd, shelving the average rate Of duty
lpon the value of foreign articles imported
INTO the United States, ii is presumed that
an importation of 500, 000, 900 of foreign
will not produce less reve-
lue than Sl7,000,0O0. As the receipts
rom the customs during the year 1898
AVE been estimated at S19,O6O,O00, it is
probable that the receipts from the same
'olrce, in 1924, which will depend upon
ne lmpol tatlons of 1898, will not exceed
8 100000. Under the most unfa, oya-
'le circumstances, it is believed that the re-
'eipts of that year will be sufficient to dis
,harge all demands upon the Treasury
which may he autho ized by law.
IL the current appropriations for the year
3l5 shall be equal to those required by
he estimates for the ensuing year, the ex-
'enditure Of the year may be estimated at
S2G,253,5S7 ~
Viz; Current APP
preparations, SS,579,122 p
'ermanent appro-
priation for ar
ming the mill
tin, and Indian
annuities, 37s,a70 90
Gradual increase
OF tue navy 100000
public debt, in
Guiding balan-
ces unappIied
in 1923 d 1924,
amounting to
S5,7SG,O0o 1920 600 No
The means of the treasury to meet this
extraordinary expenditure, consist
lst OF the balance which NAV he In the |