The daily union. [volume] (Washington [D.C.]) 1845-1857, 1847-12-09

forms Tor the transaction Of business and the most full
and minute information as 10 the mode OF conducting the
same The system found TO be the most perfect IN
Great Britain where ii had long been in successful oe
ration and cherished by all parties whether for or against
protector j. one Of The principal means sna "
extended the market for her fabrics ana paGea uaes
control for many years the exchanges ana aue OF e
world She has thus made London the great depot where
not onlya her own fabrics could be purchased but also
assorted caoes of the products and faocs OF all other
nations According to the report OF lhess gen.emep .ne
Britain is 1887 100000 The buildings docks and struc-
lures erected under free competition, almost exclusively
by private enterprise for the convenient storage OF these
goods in London estimated to have cost 900
Great the importance attached by
the introduction here OF the warehousng system and earn
est the recommendation for in my hrst annual
report the results as ascertaned in England surpass
my highest expectations There 1t IS regarded by the
intelligent manufacturers among tue most important
means of bringing 10 their own doors to pur
chase assorted cagoes including their manufactures
is thus Great Britain seeks for the products of all
her tie eS o. tine a hs s
for those markets for the products OF all our industry.
including manufactures The report Of Messrs Walden
and Bahyd has been very recently made to me, and is
herewith communicated to Congress- retaining for refer
ence the voluminous appendices in the department, sub
ect, however, at all times, to the call of Congress AT
regulations as are authorized by the powers delegated
me by the 9Th section OF the warehousng act and will
report the same to Congress. The American manufac-
tuer the farmer and planter in enlarged markets at home
and abroad and the sale OF their products and fabrics to
complete assoments will derive the greatest advantage
from ns @ n e ana ose
augmenng profits; property IN our warehousng cities
will be rendered more valuable, and every branch Of
industry stimulated and improved. commercial nation
without warehousng accommodations is like merchant
without st0rehouse and nation enter upon the
field OF fair and open competition with other countries
The new tariff has been in operation than
twelve months, and has greatly augmented the
and prosperity OF the the country The nett revenue from
LIST December, 1s47. under the tariff is 3 100000;
being $685. 500 more than received during the
twelve months preceding under the tariff Of 1912 The
nett revenue OF the first quarter of the first fiscal year
under the tariff ll06,2 1857 Ill, whilst in the
same quarter OF the preceding year, under the tariff Of
1884, the nett revenue was only $653,S26 SIS. II the
for the three remaining quarters should equal
the average the first, then the nett from duties
during the first fiscal year of the tariff would be
ed all the quarterly returns for as years. Gas far back
given quarterly in the Treasury recods and the same
proportion tor the several quarters applied to the first
ss,o45 lper table c. Although the nett revenue from
duties already received being 257 Al during the
nvs months Of this fiscal year. would seem to indicate its
probable amount as not less than 35 900; yet is
estimated at $3l 900 for the fiscal year ending 3oh
june lS4S, and $32 for the succeeding year, in
aim Although our prosperity ascribed by some to the
famine there though Providence had made the advance
OF one country depend upon the calamties Of another
yet it is certain that our trade with Great Britain
must be greater in series of years. when prosperity
would enable her to buy more from us, and especially
and At prices and sell us more in exchange
accompanied by an augmentation OF revenue.
In my report Of 22d July, 1916. was shown that the
annual value Of our products exceeds three thousand
e%ev "a % an our doubles 6nce
period-that being the time within which sum com
pounding itself 9uareryeary at six per cent nteres!
will be guadrupledas is sustained here by the actual
results OF this three thousand millions of dollars, only
about was exported abroad leaving $2,s5o
100000 used at home, of which at least $780, 900 is
hntxu Tho
Onon Under this system, the larger the area, and the
greater the variety Of climate soil and products the
States and the greater the value OF the Union. We
then here under the system of free trade among the States
OF the Union an interchange of products of the annual
value OF at least 900 among 81 millions of
peoples whilst total exchanges including imports and
exports, with all the world BESIDES containing popula
iion OF thousand millions, last year 3O5,i9i, $3.50,
being an increase since the tariff the pre-
cedng OF $7O014647. Yet the exchanges between
our States, consisting Of population OF 81 millions,
make such exchange in our own country equal to a
per individual annually OF our products and reduces
the exchange OF our own and foreign products our i'm
ports and expors considered 900 with all the
rest OF the world to the annual value OF thirty cents to
each individual That is, one person of the Union re-
ceves and % exchanges annually Of our own products as
with foreign countries extended to ninety cents each, il
would bring our imports and exports up to 900
per annum, and raise annual revenue from duties
TO sum exceeding $9O,O000OO An addition of thirty
cents each to the consumption of products exchanged
from State to State, by people, would furnish an
increased market of the value only of 00O where
as an increase OF thirty cents EACH by system of liberal
exchanges with the people of all the world would give
market for an additional value of $3OoO0O 900 per an
mum of our exports. Such an addition cannot occur by
refusing to receive in exchange the products of other
tons, and demanding the 900 per annum in spe
Gle, which could be supplied But, by receiving
foreign products at low duties exchange for ex-
ports, such an augmentation might take place. The only
obstacles to such exchanges the duties and the
fIelghts But the freight from New Orleans TO Boston
differs but little from that between Liverpool and Bos-
ton; and the freight from many points in the interior
Is greater than from England to the United States
Thus the average freight from the Ohio river to Balti
more is greater than from the place TO Liverpool
yet the annual exchanges OF products between the Ohio
and Baltimore exceed by many millions that between
Baltimore and Liverpool The Canadas and adjacent
provinces upon our borders with population less than
two Millions exchange imports and exports with less
IN amount than the State OF Connecticut with popua-
ton OF 3ooOOO showing that, if these provinces
united with by free trade annual exchanges with
them would rise to- $io0Oo0oO. 1t is not the freight,
then that creates the chief obstacle nerchanges of
products between ourselves and foreign countries but
the duties When reflect ALSO that exchange of prod
9cts depends chiefly upon dversity-which is greater
between our country and the rest of the world than
between the different States OF the Unionunder sys-
tenn OF reciprocal free trade with all the world the aug
mentation arising from greater diversity of products
would equal the diminuton caused by freight. Thus,
the southern States exchange cotton with each other
nor the western States flour, the manufacturing
States like fabrics Diversity of products is essential to
exchanges and if England and America united by
absolute free trade the reciprocal exchanges between
them would far exceed the whole foreign commerce
OF both; and with reciprocal free trade with all nations,
our own country with its eminent ADVANTAGES would