The southern press. [volume] (Washington [D.C.]) 1850-1852, 1850-12-18

on this vital subject in his annual commurira-
non to Congress at the last session: sAIl his
tory shows that where are the workshops of
the world, there must be the marts Of the
world ana Tie heart Of wealth, commerce, and
power" ........
IL has been shown by the experience of sew
erLl Years, that the average rate of duties i'm
posed by the present revenue laws is about
twentv-three per cent. upon the foreign value
Of our Imports, including free as We'll as du-
table goods.
During the last fiscal year we imported flor.
eign merchandise, Including specie, SI7SJ36.
3lS; and we exported, OF dnme+tic products,
foreign goods, and specie, Sl5l 89s, 72o, leav-
inga balance against US of S26,247,59S.
A large proportion of this balance has doubt
less been paid by our dnmestic stocks, which
hnd II ready saie mt this time, IN European mar
kets These last, however, rs they only post
pune present payment in coin, cannot be ex-
p"cted I" liquidate similar balances for coming
years, even it It were the wish of the Govern
ment to create large foreign debt of this kind.
The impoIicy Of such measure will not be
questio ed, and it is doubtless the true interest
OF the country to avoid il.
la regulating our commerce with foreign ma
tons, we are therefore compelled to take, rs the
true basis of safe Importation from all countries,
the amount OF our own products, which we may
reasonably calculate may find market abroad
1t is certain that the Increased ability Of this
country to consume foreign goods, will at this
time safely admit larger importation than in
former years, yet the experience Of the last year
has shown that our imports have been greatly
beyond our exports, which last must BE- regarded
rs the true measure of our ability to consume,
for any given number of years.
II upon the large importations of the past
year the increase should continue at the same
ratio as that ofthe past quarter, which as already
stated, is = 100000, the aggregate amount for
the current fiscal year ending 30th June, 1851,
will not fall much short of S25O,oO0o0O. A
survey of the markets of the world, it is believed,
furnishes no reason to expect that our exporta-
tons will exceed those Of the last year, which
we have seen were fraction less than l52 mil
lions. This would leave on the trade Of the
current fiscal year, with foreign countries, an
alarming balance, which could not fail to be felt
in results fatal to all branches of business at home,
and highly injurious to the revenue of succeed.
ing years.
These considerations, forced BY the existing
state OF things upon the earnest attention of this
Department, are submitted to the wisdom of
Congress, in belief that they present reasons Of
the most imperative character for modification
Of the present revenue laws. The large pros
u
higher rate of duties, so as to bring their aegre-
gate amount within the limit of our capability to
pay. Ii the exports of the last year define that
limit, then our imports for the ensuing year
should not greatly exceed $l52, 100000. 1t is
believed, however, that we may calculate safely
upon an export of gold, for several years TO
come, of at least from ten to fifteen millions an
nually, exclusive of what goes abroad direct
from California, without any detrimental effect
upon the currency or business of our people
The supply of this metal from our own mines
may at present be estimated at $50 100000 an
nually, including that sent directly from Caifor-
mia to other countries and this supply, it is be-
leved, will not be likely to diminish in amount
for the next two or three years.
If, them we can afford to spare the above
amount Of the precious metals, in payment Of
foreign merchandise, it may be flirly assumed
that our exports, including all articles, will be
equal to about one hundred and sixty-fve mil
lions, supposing always the trade of the world
to remain unaffected by any disturbing causes.
In the opinion Of this Department it would be
unsafe t" assume an amount ofimports as basis
upon which to levy duties for revenue beyond
this latter sum-
Public Warehouses.
By the Joint resolution of the l4th February
last the Secretary Of the Treasury was author
lied to dispose of the bonded warehouses now
leased by Government, on or before the first
day of January next, on the best practicable
terms for the Government"
The leases here referred to are of warehouses
in New York and Boston, the ANIMAL rents Of
which amount to $l05,4l5 in New York; $48,-
1919 SO in Boston.
Although the power conferred is not limited, |
it has been deemed best to report to Congress,
Al. a.. Al
rents which the United States are bound to
those rates.
So far rs offers have been made, they do not
amount to one-haf Of the rent stipulated in the
leases This would leave so large loss that il |
is submitted to Congress to direct what course
shall b. pursued and, in the event of a peremp-
tory disposition OF these warehouses being or
dered, that an appropriation be made for any
loss that may result
On the 18th February, ls49, Mr. Secretary
Walker issued new and very full instructions
concern lg the warehousing of merchandise
under the act of 9th August, 1886 The 18th
section of these instructions directed that Eat
those ports where stores are owned, or have been
leased by the United States, and the leases of
which have not expired and been cancelled, in
compliance with the instructions of this depart
mcnt, said stores being classified in these in
structons as class /, the collectors piA, ON entry
for ,oarchousing, first fill said stores aoHh such
goods as are proper to be stored therein, due re-
gard being had to The description and character
of The eoods and place ofdeposite."
The officers of the customs have, during the
past year, enforced these directions, to the mani
fest Inconvenience, and against the earnest re-
monstrances of merchants and the proprietors Of
priyate-bonded warehouses; 1t is evident that,
to compel an importer to deposite his merchan-
disc in such warehouses as the United States
may either own or lease, horerer remote from
his place of business, or The discharging resseI,
must in many cases lead TO so great an expense as
to work n virtual denial of the warehousing
privilege. If the United States have entered
into leases of warehouses at extravagant rents,
or at points that do not accommodate the int
porter, it would seem proper that the loss should
be borne by the public, and not thrown upon
the importers of merchandise. These public
warehouses are not entitled to any preference
bevond what their greater safety tr batter man.