The Hillsborough recorder., 1850-12-25

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ANNUAL REPORT y r y SEURETA.
RI o. THE TREASURY.
Tbs report occupies eight closely
Printed columns Of the National Intel
ligenfer. and is written. with signal
ability, eyidenciaga thorough and min
ute knowledge of the financial and CON.
mere q Affairs af the country. Were
gret that its length Preciudes is aP-
pearancs in eur columns We CLEAN
form u the following statistics;
Bal. CLIP.
Rsrsipts aad Expenditures.
On the Is. u July. 1850. there was
. balance Of s5. COS .54a 80 in the trea-
sury. The receipts for the year ending
June 50. 1891. with the balance on
hand amount 70 s54, ,3lf. .59i 40. and
The expenditures 10 55.8J3. .597 so,
leaving on hand On the ist of July next.
$3.50. .S9699. The receipts for the fol-
lowing year are estimated at o.. .ajS.
goo 80. and the expenses at sIs.I2i.
99S Is: leaving q deficit on ist July.
1889, Of 1865 1896 10. exclusive ol in
terest on Teran boundary stock.
coa fiLe MerieGn Hcr.
The report goes on TO show that the
large expenditures of the government
have grown out Of the Mexican war.
For the seven years previous to the
war. the sum Of sl49, ,66O.Si5 50 was
expended, and during the seven slbse-
quent years, il amounted to s29i .SO7.
sO7 95.
The expenditures and liabilities
chargeable directly TO said war, and the
subsequent sequisition Of territory,
amount to e7i7,i75.575 80, exclusive
Of numerous claims ret to be present
ed.
Frauds upon tls Rsrenue.
Particular attention 10 called to
Frauds upon the Revenue. An instance
is mentioned where three cargoes oi
fruit Eere shipped by one house, at the
same time. 10 Boston. New York and
philadelphia, The quality and invoice
value being the same. At Philadelphia
il passed at the invoice vale; at New
York the sppraisers advanced it rs per
cent. and st Boston 90 per cent. and
no objeetioa nor appeal from the decis-
ion Of the appraisers was made.
Changes Recommended in he PSs.enf TariG
This part Of the report exhibits great
ability, and abounds with statistics and
arguments that are unansw cradle.
II 10 believed. that If spon the large
importatioas Il the past year the in
crease shosi& continue st the same rs-
ito as that q the past quarter. which,
as slresdy stated. 10 els. coo, ,00p. the
aggregate account for the current fiscal
year, ending goth June, 1851, will not
fall much short Of $3.50. 900, 900. A
survey Of the r--rkets sf the world, il
is believed. fsrrishss no reason TO ex,
pect that our expectations will exceed
those Of last year. which We have seer
were q fvsetisa less than l52 millions
This would leave en- the trade Of the
current fsesl yssr. with foreign coun,
tries, an sIsrIsing balance. which could
not fsil to be felt in results fatal to all
branches Of Business at home. and high.
ly Injurious to the revenue Of succeed.
ing years.
The following changes in the Taria
are recomMsnded
Ia chasgs in the present ad valo-
rem system. which should impose spe-
cifc duties upca all articles to which
such dutiss Say BE safely applied. with
home vslus6ses ursn all such as are
necessarily ss1 iscs to ad valoren rates
9. If the prissiple Of specific duties
shall not be saspted, that the home
valuation inssssd a the foreign, should
then be applied = al imports subject
to ad valofen duties.
5. Ifneither Of tke foregoing changes
shall be thought proper. then It 10 deem
ed highly neess.sry that the present
rates of duties shsuid be increased on
az great variety u articles which it will
be found could sesr ssch increase witt
hemost salutary eStctsuPon both trad,
and reyenae.
Either Of tbe two first notifications
suggested sbovs would undoubtedly
correct many Of tie inequalities Of the
present system, place all importers
whether purchasers or manufacturers
on equal grouads in respect to valua
tions for duty, guard the revenue agains
the fagran, frauds which are so easily
perpetrated under existing laws, ant
insure stability and permanent increas,
Of the revenue.
In any system il believed that expert
men's has se,tlei The rnc policy To be pnr.
sued IN several particulars hich enter in
TO our sssier ef revenue laws. Among
shsse are that all raw material should bs
admitted a, moderate rate Of duly, wher
assessed al al, that all nonenumera,ed ar.
,icles should he assessed 4, higher rates al
duty Than The average uf manufactured ar
tees. and that she articles, composed q
lie same msteria!. should pay in genera
the same raies af duty.
In order TO insure uniformity iH the bnsi