Richmond daily Whig. [volume] (Richmond, Va.) 1842-1861, 1846-12-16
RICHMOND DAILY WING.
The Treasury Report.

The leading features OF the Annual Report OF the Sc
ostary the Treasury ucdy condensed by the Wash
ington correspondent Of the New York Tribune. whose
abstract OF that document transfer columns this
morning. We have room Tor the whole Report.
II possible, OF the accuracy ef the
Soeetas OF future receipts and expenditures
except by actual experiment. hazard the prediction
that they will both be iaed by the resus-ihst saw
the rce,Pts the tariff remain IS, and the eTpeHdi-
lures the with Mexico be not terminated
lcr period than probable. The Secretary tits
with that calculating esuty which ehaaeerzcs
his official productions, broadly that the
gradually declining under the tamil OF lS42,
qucneo Of the prohbory character OF some OF ~, provi
SONS One OF the main facts upon which he relies
this position Is the decline the the year
ending December last compared with that OF the pre-
cedng twelve months. But he knew very well, although
he candid enough say, that large amount Of
ths imports for the months ending with the opening
OF the trade era, instead being entered at the
house and paying duties they arrived
housed in order that the importers might avail themselves
of the reduction OF duties the LIST of this month This
also tor another Of Secretary Walkers
laous Congress-to wit, that 1.-THE duties collected
the ports OF Baltimore Philadelphia and New York du-
ring the first five days Of December Si6 under the
tariff SlI6,sO2 81; aud, during the first five
4" days OF December, sI5, under the old tariff, $685.
"3T4 So" The fact may be the Secretary 1t
yetthe impression which his statement intended pro-
ducc nevertheless deceptive. The large Of
renuinc accruing the first five days OF the present mo
So much greater than thai which paid IN during the
corresponding period the previous ycar-rcsultcd from
the which diminished the aggregate revenue Of
the twelve months OF the ar OF 1872. Many OF the
articles imported, repeat, instead OF paying duties
they arrived were deposited in the public warehouses in
order the importer the advantage OF the cduc
ton Hence the dminui1n Of the receipts the scvera
custom prior the ls OF December, aud the aug
....- g.,, .I,.t n,,4
expcc, large difference prevail throughout the wear
II he does his estimates papaby false and he may "a,
dispense with his proposed upon Tea and Coffee u
the larger portion OF the twcnythrco million loan fo
which he IL applicant Congress. Should his erpon.
dtues be keep, within his estimates his revenue from Gus
toms alone will be nearly sufficient them il the e n.
tire revenue Of si6 compared with that o 1915 sal
bear any proportion to the amount received within 18th,
first five days OF December, 1916" But he well EDev
hat the receipts of those five day furnished no st c
terinn by winch 10 estimate those OF the year and hence
although he osienaousy introduced this comparaye vic,
Of the results OF the opposing tariffs his report as AZ
indication the stimulating influence OF low duties upor
commercial enterprise, he sagacious 10 rely upor
II as the OF mis- financial for the entire vear
With regard the proposed duty upon Tea and CoiItc
We can only repeat what have heretofore said that W,
do not perceive by what process Of reasoning the adyo
Gates the free trade dogmas hesitate It's
not a tax 10 be repealed when the present eXtraor
binary demands upon the treasury shall Sc but as
manen part OF their sysem-jusi the British Govern
ment adhcrcs to its heavy duty upon tobacco, while il
reduces those upon almost every article produced within
IL. own limits. The Wing members Of Congress- however
occupy different position. These who are in favor of
Protective Tariff naturally wish to keep and coffee upon
the free ist-Or the obvious that every dollar
revenue derived from those articles dmiuhes necess!s,
al high duties upon others Of production the duy Of
which they believe to be imperative. Hence
they only for duty upon and coffee tempo.
ray expodient, meet present emergency and pre-
sumo tina, this there will be very decided opposition
Indeed, anticipate that the formidable hostility TO
the proposition will proceed from the Secrcarys own poll.
tlca associates.
But another portion OF Secretary Walkers Report i per-
hap- more uncaudd and deccpve-no, TO characterize if
bya hArshor tem-than those to which have advertcd
lie SAYS Under the tariff OF l. IL the price of bread i.
and provisions tell, and have ruth the redue-
ton Of duties, and the opening Of foreign market
is this true Even there had been an advance in the
prce OF breadsu- and proys 1ns otemporaneousy will,
the reduction OF dues, the coincidence of the two
would by have justified the friends OF the
new tariff IN placing them the relation OF cause and ef
feet Who does know that the failure Of the crops not
only in Great Britain, but upon the Continent created an
demand for these arccs-and that that extraor
binary demand would have opened the foreign mar
kc" even had the tariff Of &c been defeated This the
que and the only OF the increased demand abroad for
the products Of soil But have prices advanced with
the reduction Of duties Let the following citation,
copied by the New York Express from the Baltimore price
current the question, showing, II does lgres
d,ehHe an What, Flour and Corn from December 1915
when the tariff OF 1912 IN operation, to December
1896 when the tariff into ofect-perods Of time
selected comparison another branch Of the question
by Secretary Walker himself, and which therefore he
and his friends will have light to object.
"BALuN PRICES ~ le45 AND 1916
Dec ls4G. Dec, lsi5 Decline.
Flour, Dbl, S4,G2lI75 $500 SI2g
Wheat, bush, llOh,l2 l,2jal 90 DIG
Corn, bush, O,4saO,5O O,G-lO,7l OBJ
This table shows that under the TanT Of Isi2-
Flour tweny-seyon per cent higher
Wheat fourteen per cent higher
"And Indian Corn, about which much clamor has
been made was, under the Tarn Of 1912 iorty-rce NOR