The Daily spy. [volume] (Worcester [Mass.]) 1845-1850, 1848-12-19
TREASURY REPORT.

were $5S,S94, 70I the total expenses 1858 PAL.
l67-showing balance in the treasury of SI53
534. AT the close OF the next year il is estima-
ted that there will be on hand balance of 81.
S53 ,694 liz 1850, it is put at $5,O40,542.
The Secretary states the average annual reve-
nue. under the Tariff of 1912 at $23, 1895, 2O8:
that under the Tariff of 1876 at $3.50, 902, 4S9 He
then proceeds TO point out the bad consequences
that would have followed the continuance of the
Tariff OF 1912, and the distribution OF the proceeds
of the sales of the public lands. The result of
protection he urges would have been the de-
structou OF commerce, the great Importance of
which he then sets forth. Specific duties, more
over, he says constantly increase, as the foreign
article tails in ce,-whch proposition he illus
trates at length. Our manufacturers, he saws,
do not desire the restoration of the tariff of AZ
because it stimulated too much competition.
Our export of breadstuffs during the year
amounted to $37 ,472, ISL double the amount
exported under the Tariff Of Az. Our tonnage
also increased from 1889 046 TO 3,l50, SOP tons.
The most of this increase is attributed TO the p es-
ent Tariff. re-enactment of the Tariff of '42
will increase smuggling, great advantages for
which exist along our coast, as is shown by elab-
crate tables.
Mr. Walker refers to the revulsions Of Europe,
which injured our trade, and then enters upon an
elaborate vindicaion Of Tree Trade principles, in
opposition to those Of Protection, -enforced by
the example OF the several States of the Union
among which free trade prevails A large Sec
ton Of the report is occupied with this argument
which is skIltul and plausible, though not par
ticularly new. The repeal OF the British Corn
Laws is attributed to our arguments. The pro-
tectlVe system is characterized as "agrarian''
and war upon property.
A Cutter has been sent to Oregon TO enforce
the revenue laws there. No duties can be col.
ected in California as yet 1t is recommended
that other collection districts the Pacific Coast
be authorized. Reference is made to the taci-
ties for Commerce in the Pacfc,-to the propri.
ETY. OF sending steamers there, and to the great
desirabeness of railroad across the Isthmus of
! Darien.
The Secretary recommends that an act be pass
+, ed allowing goods to be taken the Isthmus
to our PACING ports, the same as from one port 10
another On the Atlantic Coast.
Consuls are needed at Chagres and Panama
Drawback should be allowed on goods exported
| by the Rio Grande.
A variety OF suggestions In regard to our trade
in these new possessions submitted Recip-
| rocal free trade between Canada and Mexico and
the United States is recommended
The Mexican tariff imposed upon Mexico dur
ing the war greatly increased our means, and set
salutary example to beligerents in future wars.
The Secretary strongly renews his recommen-
datlon Tor branch mint in the city of New York
1t is urged as necessary in order to secure TO the
city command oil her due proportion oil coin. The
storehouse OF the goods OF the Union, he saws.
must become the storehouse OF its specie.
The department since March lS45, has coined
at ou' limits the sum of $3S. III FOG Mucb rnora
would have been coined, had there been branch
mint at New York. This branch mint wonld
also greatly aid the operations of the assistant
treasurer. assistant
The merchants of New York, from Januarv1
1917 to Nov &c., lS4S, paid $34, 800 ,67s for dn..
ueS' The amount OF specie received during the
T@lne period oy the assistant treasurer at New
| YORK was $58, 32S, 1863, and the coin d;sbrrso,
| sos, 496, 259. WI" u'spursed
The Sub Treasury system is vindicated :.
against the State bank deposit system.
ood ne n transactions in regard to the loan of GIG
Voo'OOO In March last, are detailed Tho Who'll
premium obtained was $4s7,I6s. ''0
Inc pubic debt has been punctualIv maid
whenever 1t became due. Statements are made
showing that this has been done at eyerv per;od
oil our history P''0u
Our present debt is about $65 ,304 AGO -lsso
than half the annual interest on the nnbIo az.
OF Great Britain Fuo"e ueD'
Our whole public domain unsold amoro.. ..
1,442 PIT 1897 acres. '"'ouh'S 10
Inc secretary advises that power be given tho
department. to purchase all the public debt eTcIn'
SNe OF Treasury Notes without premium and
t, :" purchase at the market rate anv nor,;or
OF the rest OF the debt. Details are given Of ,bn
purchase already made. Reasons are given 1vh,,
sble. 40 rdPiuiy IS pos
G. i"e Coast survey Is making rapid propress
DIX Seenons OF coast have been SURVEYED and civ
new shoals discovered. o"N 'iA
urgently recommended. 'S''ehh are
- view standards for weights and measures and
me adoption OF the decimal system are uroed
"A ociehtlhc commission is asked TO surverv no
mineral lands OF California. Wv
Inc arehousing System is reserved Tor
sPeclal report Its progress has been successful
and satisfactory. 'O'eessiui
me secretary makes some suggestiono coo-
oernhg Inc organization of the Treasury De-
Par'meht' the separation from il of the Lana ~
nee supervision OF the Marshals and the annon,-
.nen' Oh an Assistant Secretary. He advises al.
50 me detachment of the Indian Office anS a., a.,
fenslon Office from the War Depar,osnt , Wv,
=. .he Patent Office from the State Denartnont 40.
suu me organization of them all under ~,
neao, to be called the Secretary Of The In,a.;e e"
me whole expense would not exceed Soo Noo
per annum. '"eeeo $zV,oVO
e Inc IN Report closes with invoking the bles.;nn.