Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1836-07-19

20. In Isis our domestic exports were about seventy.
f"ar millions, and in 1891 they declined to forty
and halt millions. In ISIS they amounted to hfty mil
lions, and have since increased to more than one hum
one millions in the ending the 30t Sept last
our exports in the year. which terminated with the lst
April, probably did fall short Of hundred and III
teen mIlIIhns or slxty.r mlllnns than in lc2o
But that this sndden increase Of 100 per since that
year has been owing 10 other besides productions
Is sufficiently evident from the fact that while the exports
OF domestic produce increased the rate of four millions
annually, from lc2S ~ 1853 the increase from 1888 10
lc35 was thirty millions, fifteen millions annually.
This abrupt increase and the singular fact that we arc
actually importing agricultural produce from Europe,
strong lndlcatlo"s ct approaching reaction Our
pUrls ut dome stic produce will not from any cause
" cnuIercui. decline formerly to forty three fifty
millions bet thcy may he reduced to eighty millions IT
not lower which. would sens5lv affect imports and
revenue both depend upon the exports Of does.
tic produce.
According TO the Treasury returns the amount Of
foreign merchandise CONSUMED in the country in 1916,
vas hundred and thirty three Millions and in ls2l
cny torly.one millions ihc amount consumed,
Gliding bullion and Specie, which incorrectly en-
bracrd IN the Treasury statements was, IN
1881, ..-............... S49.2OO,UOO
1851, .................. c3,WWUlu
!e32, .................. 'o,UoU00O
lS>4, .................. ci.UUuUUO
lc5o, .................. l23,U0uOUO
Making increase of seventy three and half millions
in five years. Of which increase thiry-sx millions
crurd in I5'j alone.
The merchandise imported for consumption in the year
ending the first o! April probably exceeded Oh millions,
being three times the amount in lo}D in the latter
year. the imports ten millions below the exports Of
domestic rcGucc; at this tc they probably thirty
five to forty millions more than the exports Under
such ii::Gcrs, i probable that the present
amount Vt uIporatlons lie long sustained No or
binary will reduce imports Tor consumption,
as lea, TO fort millions; but iucuation IN
trade would diminish them seventy orelghty millions
they were in lc:j3 and 81 which would be equlTa-
lent 10 gross importation Of ninety hundred NIL
lions
Tie recent important notifications Of tariff have
diminished the OF our from customs, by
IeinqusIng the duty about one half Of all the tor
eign merchandise consumed in the country. Had Our
tu in lei been regulated it now is, the revenue
from this in that year would have been little
than six millions For ten yeas after, the average
amount Of merchandise char grd with duty, was, as
IN lo3O, only about 20 millions With our present du-
ties this would have afforded less than seven
millions Of revenue annually. Even IN the last SIX
yeas, hough embracing live years ut large and ncfeas-
Ing in p"rlaunsl the annual average was but forty
tour millions which would have gwen us little over
thirteen nIil:uEs; OF revenue had tie present rates o
duty existed !rn 1850 70 tie prescnt\t!we Should
the ola Of Porta"ns decline TO one hun
dred millions, about eighty would remain Tor consunp'
,ion Of which not much "ree forty n"ns would be la
he 10 duty, aordny revenue ui about twelve uons
Alter The sudden and extraordinary increase of InpOrta'
lions IN years past. dlhntIon ought TO De antic
DATED. In the tine, duties are in process VI
rrduclirn a: after the 31h June. lc2 The highest rate
prouosri is twenty per cent on the home valuation Inc
nvrrare will b. less Estimating the effect of the home
vauaIion as COiuvalen 10 the expenses Of collection,
there would be required under the existing compromise
c. ,ola! importation Of one hundred and sixty millions
to a1rd OF llllle more than thirteen NIL
lions of dollars
We have not heretofore placed much reliance
revenue from public lands. Prior To 1888 never re-
crived in ANY year three millions from this source,
except in 1919, and lC3 when exceeded little mat
sales at that time were credit, and r"se from
2l,,ionS in 9 10 more than seven millions IN Ioic,
ami then Suddenly in 1919 to ,10U GOO; but IN the very
ne at year the i, below two millions In lc.c,
the actual receipts from public lands amounted to only
uIlion they to c3OUUJ IN le!, and suddenly 10
$l4.75D0GO in lc'5. 1t is difficult 10 estimate what
may be the income annually from this source, when Tie
present spirit of speculation subsidies but there are ma
nv causes which will prevent from declining, as former.
H. million The increased lac'si'es OF internal
communication open wider field Tor sPrcnlailon anu
settlement. and the purchases OF Indian lands wh'h te
States and Territories will probably afford larger Icvc'
nue. than received any tEnrr period OF dcpressl"h
But is portion oil brs, |nds Is rapidly going INTO
the hands OF spectators, it would be unsafe 10 estimate
our venee lrn This for few years 10 come,
aud after the present specuatIons are checked, At more
than five millions annually.
Our revenue from customs and public lands, alter
l:7 is likely tn exceed the expenditures OF Govern
ncnt. 1t Is, therefore, Important that whatever sur.
Plus may have i'll the tune, whether deposited
with the local banks in the State Treasures, as -
proDosed after tie first vi January next should De pre-
served 10 be applied to the extraordinary purposes we
have been compelled provide tor during ihs session,
and for similar expenditures, which, III the present state
of our Indian reutiOns may again become accessory
On the baauce in the Treasury the lst OF January
uext and the revenue which may be received IN 1881,
there will be charged, addition to The current eHpeh-
d,ures of that and all extraordinary demands lat
may occur. probably near fifteen millions Tor appro-
pralins authorized at the present session, making
the c,lns upon The Treasury III TIVE next year greater
than in the present. while the revenue OF 1887 will be
considerably less than hat Of 1896 und leaving the
suruus a, the close OF that year much diminished
As our income will not probably then exceed our cur
rent expenditures we must rely entirely upon what sur
plus We NAV have to dettay all the expenses when may
become necessary in extnguishl"g Indian lc' 10 'ahu
removing the tribes beyond The MIssisS.iir, and tor
other objects q al extraordinary chafac
ter. >.
The committee therefore, asks to be discharged from
,he further consideration Of the memorial praying for
the creation and distribution Of stock Of two hundred
millions payable of the proceeds Of the public lands,
and Of the resolution nsructng them to inquire into e
espcdiency Of distributing lhe surplus revenue now III
or that may hereafter be in the Treasury
Satemcmct tie wodabc condition ct he Treasury q Inc
United S.DtcS FIR the ycar 1886.
1886 J,*rAnY l-Balance OF available lunds remain
Ing on hand, including uneXpend"d APP -oo oc,
preparations, .......... '''..'' - ~",'~"'''
DEcGMsER. 81 .-Revenue Of the year from o,
all SOURCES, o',oooo"'
S64, 23,92G
Ghargcs upon the Treasury.
1886 JaSrARY 1-ApproprIanns for the
service of lS:5J and previous years unex-
.,,>,. ,I,ta I,,T,,c t,eo ,pf