Polynesian., 1844-08-24
COM
NJ T. Y I e. u


Report on its Finances under the Spanish
Government, since its independence, and
prospects Of their improvement under the
Presidency Of His Ercelency Don .Antonio
ofMe Public Debt-Foreign and Domestic
Average Of Estimates, Rerenue and Erpen-
dAure; to which are added Tables Wustra-
tire Of its Commercial, Manufacturing, and
prohibitire policy, and Remarks on Coloni-
satio";-he whole intended for the intor-
nation Of Merchants, Emigrants, and the
holders Of .Merican Bonds.
BY ROBERT CRIcHroN WILLIE.
(Continued.)
Let attention be given to the details Of the
table marked No. 5, in the Appendix, kind
ly handed me by q friend here, and to the
long and minute calculations and observa-
tons thereto annexed, Illustrative of the eff
feet upon the revenue, general industry and
agriculture OF the country, of so many erotic
manufactures, already erected and in pro-
gress Of erection, as that table exhibits.
1.-THE calculations be correct, and they APP
pear to be founded on data given officially
by Don Mariana Galre=, Secretary to the
General Direction of National Industry, the
deductions from them can hardly fail to be
correct also, and the misapplication Of so
much capital and labour, is grievously to be
deplored.
1t will be seen that the annual loss of rev.
enue to the Treasury, arising from the pro-
hlbitions enacted to protect those manufac-
lures, is calculated to amount yearly, at the
very lowest, to $4,000, 900. But in that
calculation, no allowance was made for the
duty imposed on every native spindle, as be-
fore mentioned. That duty was + of one
rial monthly, but as the manufacturers com
planned, Santa .Anna, by decree of It'll July,
1912, reduced it to of a rial. One eighth
of a rial monthly, on 1871 $50 spindles, leaves
a revenue of Sl96, 92O, which being deduc-
ted from the $1,000, 900 stated as loss, re-
duces that loss to 50, 1903 $50, which would,
alone, pay 5 per cent interest on a nation
al debt of $40, O6l 500,
How the government, under the pressure of
a want of means to carry on the administra-
ton and support the credit of the nation, at
home and abroad, came to consent to such a
sacrifice of revenue, | am the more at a loss
to know, that | do not find such a course
recommended by any Of the ministers of FL
nance, to whose memorials | have had access.
On the contrary, from the first commence
ment Of prohibitions they have all taken care
to point out the loss thereby sustained to the
revenue, and when relaxations of prohibi-
tons were made, to calculate how much the
treasury had benefited by those relaxations.
This is a point Of so much Importance, that |
will give a few illustrations.
Referring to note 9Th to table G, it will be
found that Don R1fael .Mangino characteri-
zed the prohibitive system, as one counter
acting the increase of the revenue, and
promoting contraband, without yielding any
benefit to national industry; and that in the
memoria Of Don Jose Maria Bocanegra of
1888, Don Manuel Payno y Bustamante had
calculated, that by the relaxation Of prohibi-
tons, the treasury had benefited to the ex-
tent Of $l,73l,6l3-6 rials,
during the years 1881
and 1882, all which amt
received would have been
50 much loss, without do
ing any good to national
industry, if the relaxa-
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