The daily union. [volume] (Washington [D.C.]) 1845-1857, 1850-12-17

To Great Britain.
l,sOa,5M

Table No. shows the value OF the exports Of cotton
manufactures from the United States and Great Britain
in the year 1S4S and the countries to which the same
were sent.
this .s will BE S S The he ySs ss q
States dariag hss wear was ''." ' ss7issos
largely d.sna.n
..
on Gea, Britain, British vessels for ls4s 80
our records for the f.ea year ending ao,h June,
from Great Britain amounting to l4FTSWs
The United States should share in the profits Of manu-
featuring her great staple and in proportion - we
increase the manufacture Of this and other materials
OF which we have abundant supply shall we be cna.
bed command the produce manufactures and coin OF
Table No. exhibits the exports Of cotton from the
United States and Great Britain for five years from 1s44
to is4s, inclusive.
By reference to this table will be that the
ports of raw cotton to several countries from Great Br
ain exceed those from the United States to the same
countries and that the value OF such exports o Amer.
can raw cotton from Great Britain to the continent OF
Europe exceeds the entire exports OF American cotton
manufactures 10 the whole world; !,
Our entire export Of breadstufs and provisions to all
Of ,hs world during the past year will :csdics snd ,h
These tabular statements are intended to shcw how
cotton of the United States, and, If manufactured BY
our own citizens, how widely our commerce might be
extended Instead OF an Importation OF nearly
our annual exports Of those manufactures should De
500. 100000 - .,
with the products and manufactures OF other nations. 90
long content TO export our cotton and otner
materials in their crude state, and import tne most
Our poicy should be- by every constitutional means to
encourage the manufacture OF our own Materials ana 90
far as their product may be TOT other IN Ss
the present system the gold obtained IRON our mines Will
soon be exhausted in paying for excessive imporations
With profound conviction OF their truth repeat the
opinion and words Of my predecessor this vital sub
ect in his annual communication % Congress q me
session history show. h.f S nv wnsrs here. are e Ss
world, and the heart OF wealth, commerce. ana power.
II has been shown by the experience Of several years.
that the average rate OF duties imposed by the present
revenue @ laws Is about twenty per cent upon the
foreign value Of our Imports including Tree - wei a.
dutiable goods.
chandise including specie, 3ls and we export
ei OF domestic products, foreign goods, and specie
S5i ,72o leaving balance against rs o.
large proportion OF this balance has doubtless been
paid by our domestic stocks, which hnd ready sale II
this time in Eurobean markets. These last. however e
they only p.%t for
even IL il were the wish OF the government TO cfeaie
large foreign debt Of this kind The imPol,cy o. saea
measure will not be questioned and II douoess tne
true interest OF the country 10 avoid H.
In regulating our commerce with foreign nations, we
therefore compelled TO take as the true osss Oh saIe
importation from all countries, the amount OF our own
products which we may reasonably calculate may nnd
market abroad. ,.,. ,.l...--..
IL Is certain that tue Increased aonity oi ms cunuy
consume foreign goods will at this time safely admit
larger importation than in former years; yet the expert
ence of the last year has shown that our imports have
been greatly beyond exports, which last must DC re-
gaded as the true oil ability TO consume LOT
any given number oil years. !.
II upon the large mportaons OF the past year 'ne IN
crease should continue at the same ratio - nao @ 2. M
past quarter, which already stated y Slo,oVoV ue
aggregate amour. for the current fiscal year endng Son
June will not fall % %gss ,Ss ,1o ~ord p i & Sssysd fur
nshes no reason 10 expect that exportahons VIII az
ceed those Of The last year, which we have seen were
traction less than I52 millions This would leave on tne
trade Of the current fiscal year with ioLsen Sounss' % N
suits fatal 10 all branches Of business at home, ana hghy
iniurous 10 the revenue OF succeeding years.
These considerations, forced BY the existing sfas OF
things upon the attention OF this department. are
they present reasons Of the most imperative character tor
modification Of the present revenue laws The iaIgc
prospective mportatons should be checked BY higher
rate OF duties TO bring their aggregate amount
in the limit Of our capabiy % pay the sxPo, M ~. "
suing year should not greatly exceed $l5aoooooo.
believed however, that may calculate ssIe upVn ~
export OF god for several years to come q e less ION
ten to fifteen millions annually, exclusive o. w. -
abroad, direct from California; without any detrimental
effect upon the currency or business OF our people Inc
supply of this metal from our own mines nay plesen.
be Estimated at $50 100000 annually including mai sent
directly from California to other countnes ana tnls sup
alv n s. beeyed will not be likely to diminish 10 amount
III then we can afford to spare above amount o. the
orec,ous metals in payment OF foreign mercnanoises
nav be fairly assumed that EXPORTS including All
articles will be equal 10 about one hundred and sxnve
mlIions supposng always the trade OF the world 70 re-
main unaffected by any disturbing causes In the opinion
Of this department, II would be unsafe to assume an
amount OF imports basis upon which to levy dunes
| for revenue beyond this latter sum.