Literary cadet and Rhode-Island statesman. [volume] (Providence, R.I.) 1827-1829, 1828-12-06

mai~d At five millions four hundred and Sixty.
one lhoursnd two hundred and eighty three dol
lars aud forty cents, form an aggregate Of re-
cs'pts during the year Of twensy-0ur millions
aud ninety -four thousand eight hu, dred and
sixiy-thr-e dollars and 'm'y-soven cents. The
expenditures Of the year may probably amount
Ia twenty-five millions six hundred and thirty
sev"n u'ousand five hundred aud eleven dollars
and SIXTY three cents; aud leave in the Treas
ury. on the first OF January next. the sum Of
FIVE millions one hundred and twenty-five thou
sand SIX hundred aud ,hiriy-eight dollars, four
teen cents.
The receipts ri the present year have amour
ted 10 near 'wo millions more than was antici-
paicd at he commencement Of the last. session
OF Congress. -'if ft
The amount Of duties secured on importa-
tion- from he first Of January 10 the 30ih Sop
TENDER was about twcni, two millions nine
hunored and ninety -seven thousand, and that
ofihe estimated accruing revenue is five mil
lions; leaving un aggregate for the year Of
near twenty eight millions. This 10 one mil
lion more than the estimate made last Decem-
Der for tho accruing revenue Of the present
year, which with allowances for drawbacks
and contingent deficiencies was expected to
produce an actual revenue IT twenty-five mil
Ions three huIdied thousand dollars. Had
those only been realised, the expenditur. 9 of
The year would have been also proportionaIly
reduced. For OF these twenty-four millions
received, upwards of nine mill ons have been
app I'D 10 The extinction OF public debt bearing
an interest of SIX per cen, a year. and of
course reducing the burden of interest annual
ly payable in future, by The amount of more
than half million. tbs payments on account
Of interest during the current year exceed
three millions Of dollais; presenting an ag-
gregate OF more than twelve millions applied
during the year 10 The discharge Of tho public
debt, the whole Of which remaining due on
The first Of January next will. amount only TO
ffty-eight millions three hundred and ski y-two
thousand one hundred and thirty-fve dollars
and seventy eight cents.
That the revenue Of the ensuing year will
not fall short Of that received in the one now
expiring, there are indications which can
scarcely prove deceptive. In our country, an
uniform experience Of forty years has shown
that whatever the tariff Of duties upon articles
imported from abroad has been, tho amount Of
in,portations has always borne an average val
Nc nearly approaching 10 that Of the exports.
though occasionally differing in tho balance.
sometimes being more, and sometimes less. II
is, indeed, a general law Of prosperous COM
mercs, that The real value Of exports should,
by o small, and only a small balance, Oxcecd
that Of imports, that balance beng a perma-
mont addition 10 the wealth Of The nation. Tho
extent Of the prosperous Of the ma
ton must be regulated BY the amount Of its
exports, and an important addition 10 tho vai-
Ne Of these will draw after it a corresponding !
incrsase Of imporiau ons. II has happened,
in the vicissitudes Of The seasons, that the har-
vest Of all Europe, have, in the late s,mmer
and autumn, ia len short of their usual average. !
A relaxation Of the interdict upon the impor-
tation Of grain and -four from abroad has en-
sued; a p~ropitoUs market has been opened to
the granaries If our country, and a new pros
pect OF reward presented TO the labors o: tho
husbaIdman, which, for several years, has
been denied. This accession TO the profits OF
agriculture in the middle and western portions I
Of our Union is accidental and temporary. 1t
may continue only for q single year. II may
he, as has been often experienced in the revo-
u tions Of time, hut the irsI Of several scanty
harvests ia succession. We may consider It
certain, that. for the approaching year, il has
added an item Of large amount TO the value Of
our exports, and that it will produce a cores
ponding increase Of impor'ations. II may,
therefore, confidently be ioreseen that the rev.
enue Of 1929 wall equal. and probably exceed,
that Of 1928, and will afford the means Of ex-
tinguishing ten millions moro Of the principal
Of the public deot.
This new element Of prosperity TO that port
Of our agricultural industry which is occupied
IN producing the first article Of human subsis-
tence. il Of the most cheering character TO the
feelings Of patriotism. Proceeding from q
cause which humanity will view with concern
the sufferings Of scarcity in distant lands. 4,
yields a consolatory reflection that this search
~ is in no respect attri but" BILE TO us.-That il
comes from the dispensation Of Him who or
dains all in wisdom and goodness, and who
parnnIts evil ,tcnlG sAnIv ua m ,patrufuant NIL
good. That far from contr .buting to this
scarcity, our agency will be applied only to
the alienation OF its SC vcrity; and that in pour
ing forth, from the abundance of our owp gar
ners, the supplies which will partially restore
plenty to those who are in need, We shall our
selves reduce our stores, and add to the price
Of our wi bread, so as in some degree 10 par
ticipa:e in the wants which it will be the good
fortune Of our country to relieve.
The great interests Of on agricultural, COM
mercial, and manufacturing nation, are SO lin
ked in union tugeth that no permanent cause
Of prosperity 10 one Of them can operate with
out extending its influence to the others. All
these interests are alike under the protecting
power Of the legislative authority; and the du-
ties Of the representative bodies to conciliate
them in harmony together. So far as the oh
jet Of taxation is to raise a revenue for dis
charging the debts, and defraying the expen-
ses Of The community, it should as much -
possible suit the burden with equal hand uptn
all, in proportion with their ability Of bearing
it vii hOut oppression. But the legislation oil
one nation Is sometimes intentionally made 10
bear heavily upon the interests of another.
That legislation, adapted, as it is meant 10 be,
10 the special interests Of its own people, will
often press most unequally upon the several
component interests Of its neighbors. Thus,
the legislation Of Great Britain, when, as has
recently been avowed. adapted 10 the depros-
sion Of a rival nation, will naturally abound
with regulations Of interdIct upon the produce
tons of the soil or industry Of the other which