Rutland herald. [volume] (Rutland, Vt.) 1823-1847, 1840-12-29

the contrary, having been accompanied by
diminution never previously oquallcd IN a
mount, except under tho influence o. the embar-
go IN 1908, the whole matter furnishes ano,h-
CT proof Of the hazardous fluctuations in the
chief source Of our present revenue, which
Congress has been requested 40 repeatedly TO
guard against by some permanent provision.
IL Is also strong Illustration Of the proba-
bihty OF The conjecture expressed in the last an.
nual report, tia, the country had become alarm
inely indebted abroad IN part on ordinary
mercantile credit, bu, chiefly on stocks OF cor
porations and States.
To meet what would soon be due for inter
est alone, II was then supposed would require
twelve or thirteen millions Of exports and
| which, in that event, would of course furnish
no returns IN imports. The same result, must
follow yearly, till the old stocks are redeemed.
unless new ones can, for some time longer be
sold; and the difficulty be thus defer ed though
merely at the expense OF increasing the whole
ultimate Indebtedness.
But il is n source ofgrea, satisfaction to wit
ness the indications which the Unprecedented
amount Of exports, during the last four years,
has given OF the continued prosperity Of the
country.
Notwithstanding some depressions in partlc-
ular branches of business, or in particular
places, the general prosperity has been such
as to create a large surplus Of products and to
| enable us 10 send abroad immense and increas-
ed values Of them, however great the com
plants have been as TO low prices.
These official records are some Of the most
authentic tests of truth, amidst contradictory
conjectures on topics like these. They show
that we have been able 10 spare, in exports OF
domestic productions during the last four years,
quite S40S ,S94,143 in value; while in no previ-
Gus term of that length, since the adoption of
the Constitution, have they exceeded $780,
! 44I ,G22. Except in the last two series Of four
years, they have never gone beyond $3.50, 576,-
749; or, not two thirds as high as from 1887 to
1870 The whole tonnage of the country has
also advanced within .he four wears past, more
than 10000 tons.
Seldom, indeed, if ever, has the navigating
interest, one OF the great opponents of our
wealth and increased commerce, been so pros
porous as within the last twelve months.
Ii is true that portion ofthe increase in ex-
ports may be attributable TO some alteration in
the habits Of the community, not connected
with additional wealth.
The disposition OF families to rely less on
their own resources, and obtain more by means
Of mercantile exchanges abroad as well as al,
home, has, without doubt, grown more rapidly
OF late years than formerly, and tended 10 aug
ment both the imports and exports beyond what
| the real increase in the amount of products
would Indicate. Yet the great excess of ex-
ports during the last few years, over those Of
| previous times, cannot all have arisen from
| these circumstances. Granting, however, that
some Of it has, the consequences TO that extent,
and in another view OF the subject, are not so
well calculated to excite qualification.
The increased dependence which the change
Of habits, in selling and buying so much more
/ of what is consumed, has occasoned between
different countries and those engaged in DIFF
/ ferent avocaiions, as well as the increased
credit thus demanded through many new ram
ifications and the greater subsection thus pro-
duced of almost every pursuit to the evils at
tcndant on fluctuations in prices, on bank ex-
pansions, and reyulsions in commerce, have
probably exerled an influence on the events
! OF the las, four years not inconsderable nor
! salutary. Combined with other causes, they
must certainly have tended 10 effect wide
and unlavorable alteration in public manners;
and may in time, inhct an injury on the NOR
ais and character of the nation, which will
more than concordance all the gains in
wealth.
The estimates OF the receipts and expend-
lures for 1871 next demand attention.
The actual receipts and expenditures in
that year can, Of course, be 50 regulated by
Congress, through new legislation, as TO reach
any amount it may deem proper. Bot the IN
dersigned can neither increase nor diminish
them; though duty is involved on him, in re-
spect to the subject while al the head Of the
| Treasury, which he now proceeds 10 perform
Z of presenting some opinion concerning the a.
mounts 10 which. under evisting laws, and the
I calls OF the different departments, they are
likely 10 attain.
lie will further suggest any general chan
ges which appear to him expedlent, as well as
any new means deemed necessary 10 moe, all
the burdens, which, 1t is appTehended, may
be imposed.
The estimates for the ordinary receipts and
+ expenditures in the ensuing year differ some
millions from what will be actually received
and expended IN the present one.
1t is calculated, however, that the difference
will be what is always most desirable some
/ increase OF the receipts, and further diminu-
I ton Of the expenditures.
The estimates for the latter, in the present
/ year, were made less than those Of 1899; and
the results have correspondent Indeed II - a
i cause Of much qualification that the eTpecta-
tons here tOiore cherished, OF materially redu-
/ cling the public burdens. have been verified 10
so great an extent. Thus tho expenses OF
1 1888, fell below those Of 1898; while the ex-
penses Of 1889. not~ outstanding the coniinu-
ance Of the Florida war, we're nearly eight
millions below those Of 1888, and II "a expect
ed that the expense Of 1910 will be from two
To three millions still lower, or quite ten mill.
ions less than those Of 1898.
They would have been nearly twelve mill
ions less. had not that war continued, and IN
usually large payments been made 70 the In
dams, under old appropriations.
Il is believed that tie ordinary expenses Of