Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1827-12-18
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ANNUAL REPORT
ANNU ID REFOItT
OF TIE
SECRETARY OF THE TREASURY.
On the State If NE Finances.

A"e V"iue OF lmpoTta;ions into the United
S'"es curing the year ending The ibiri.,h OF
september last, is est mat adj eiah'y one millions
OF dollars. The expectations ior the same peiod
are estimated at eighty millitns. When the more
exact statistical returns for the year are Laid he
tore Consress, they Will be in the course of The
session, 1t will be perceived that there has been
onhinuison IN the Imports from China duriug The
present year, as compared with the psst The
dininu'ion has been very considerable. both in
teas and silks. This fact Will shpyy. in Inc end
'oe greater excess OF imporiatons from Earope
curing the present year, whence our foreign man.
uiacturts are principally derived. Yhe fourth year
Us now In progress since the passage OF The act of
" hsrHss ausmenins the duties on imported
neIchahdise. Wesare, therefore, at a point er,-
bling US to speak on grounds more authentic ,b,n
hi'herto OF the effect OF that act npon the forejop
commerce OF the nation. By Comparing the time
mat mas elapsed since It's operation with an equal
pof'ioh OF time that preceded, it appears that both
,he imports and exports have, in the aggregate.
increased. They stand thus: Total value Of i'm
poF'atlons Tor the years 1922 1923, and 1924 tvy
hundred and t'rty-one millions OF dollars. Total
iors 1873, 1876, and 1927, two hundred and six
y-two millions. Total value of expectations
ior 'he three former years, two hundred and TWEEN
ty-iwo millions; total value for the three latter
years, two hundred and ffty-seven millions
rraeuons are dropped both ways. The result is
not ehscied by the Interpretations of FOREIGN
merchandise for the same time which hesr No.
portion as nearly as may be equal on the basis of
lnroHaIions for the two periods 1t Will be I'm.
uestoou, that, IN these statements Of innovations
ana expectations for term OF six wears. those
ior 1877 are given by estimate only, for nor
aon oil tie year; but ~ is not believed that there
VIII De any such change in them as TO shake the
general results. The articles OF doue.tic manu-
iacture exported In 1927, estimated al UPWARDS
OF seven mIlIons OF dollars sum greater than that
10 Wh'ch 'hey have ever before amounted in any
one year.
tsrih OF duties upon foreign productions may,
Wi'hout doubt, be so raised to affect injurious
", the Interests OF foreign commerce To SIM
pose thatihe tariff OF the United STATES estab,isbe ed
oy The act OF May, 1924, is at such pitch, would
De conTary' TO analogies afforded by The history Of
o'her commercial nations, and thus far to the exs
Perlence OF our own. Ii is believed. on the con-
nary that It's rates might be augmented in i,Dpor-
tan' particulars, without hszarding any such con-
stqushces 10 foreign trade In its Ultimate course
and aggregate value; and that true national poll.
cy, dictates their augmentation The increase of
our imports and exports since the tariff of 1924
becomes the more striking from the consideration
that 10 1875 there was witnessed in Europe an exc
uaordlnary depression OF prices. This was fol-
lowed Dy prUportionae stagnation in all the o.
perations of purchase and sale The evil assume n
magnitude productive, in that hemisphere. NOT
only of great individual suffering bur OF ansjs,v.,
Governments. 1t was at such moment that we
began to- reap the benefits Of the profitable turn
given 20 apoFtion OF The industry OF our own coun
try, by the provisions of the tsrif Had il no.
been tor the demand ON our own manufacturers for
some of the agricultural siapl5s OF the rountrv ,b.
presumption Is author zed that the fall of prizes in
Europe at that period would have been different.
ly feii toy our agricultural glasses here Similar
occurrences abroad, hid on former occasions be.n
followed by Iecunisry losses in this county
much M re extensive and formidable. The in,
creased number Of artisans WI hin orr own Dor
ders, and greater scope OF their operations. evident,
ly tended to lssye the agricul,ur less exclusive
ly dependant upon foreign markets than if tn,
latter had been his sole reliance
N or have the benefits of manufacturing Industry
ended here; the proof strengthens that many ar,i-
Giles have become cheaper more abundant. and ri
superior qraiy,by the effect OF competition anono
the home artisans, than when derived oniv from
abroad Iae opening Of new objects of labor. bv
multiplying he occupations OF nen. has als,;
creased the public prosperity. Thi. has produced
an Increased ability 10 buy all articles 81 consume
tion,whsn cesoeyer obtained, Hence FOREIGN ,,,d.
has NOS declined, OF which we have the inron,ss
TILE evidence just stated, Whilst new domestic
resources In manufacturing labor have been unfold
ing themselves. As the latter are more anpIy
brought out, It is confidently ANTICIPATED that The
former viii become wider AMI more e.ricbfng !,
IT'S range. Ii the new fields az labor have o,tv
as yet, been opened IN particular divisions OF fhr
country, other divisions viii reap full measure
of benefit II there can be no Dissent to She NAV
IN a. between INDEPENDENT nations, that the pros.
peri'y OF one promotes That II another II cannot
he doubted, that ftrent parts Of The same nation
VIII derive reciprocal prosperity from the same
cause. The United Safes a,e dsiiusn-hed in This
respect by lot 20 peculiar a. il il favorable; M
thug ga exceed The Inducements 10 various and
subdiyided usfic that abound within their o,vn
limits. IL - here that The Onist NAV hone TO
see exemplified every essential advantses Of the
foreign and home trade blended IN the same sysv
TEN; moul!ed by the slme policy; anil freed from
the jealuusies That have Illustrated and must ever
continue 10 Illustrate, tie benevolent bot imprsc>
ticable theories Of commercial intercourse, - he
twern distinct nations. II IL not merely rlat The
ent OF climate and soil in ihe Uni~r are adapia
I'd 10 al pursuits that cen give acyty and fruit.
tuuess TO industry nndcr every ioin these ere but
haturai adysntsgos. itis Hle exchange of tho
products OF industry upon lefm- the most de-i,sr,,
and the most gsiniul thToUs hout so ample an eS-
tent Of home dominion, ihst viii exslt such nsiu
raj advantages to the utmost. IL here that com
fuerce may he Carried on feed Gom eyery res-
friction, and, probably, Tor tie fret time ugon a
political and geographical tataifs 90 expantlsJ.
f! The appropriate industry OF each portion nay go
into unleilefel action: OF LDi'sisus anil OF Ma.
7 sachusets, OF Georgia and al Rhode I.lanJ. A
vast home trade, resembling foreign trade, as w sll
by intervening distances The ntiuic Of ne ex.
changes. Will &c prosecuted, whe her along The
cean, or the wafer highways Of the Inferior, ua-
/ iram'neiled by tolls or tnpu~s ~ qny kind. end
without even The necessity II Custom House,: o.,
/ giving 10 such establishments uses only foyn,f
Such trade csn only. however. have ~ proos,
value by che eXiensive success Of manufacture.
/ Jhereis nothing else con impar 60 labor IN tb.
/ Dnted States the necessary variety in Hs object.
AMI Tho necessary regularity and f,fness i, m,
demsnd There isnoibng cl.e can sd.q,,..el,