New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1850-12-18
NETWORK DAILY TRIBUNE WEDNESDAY DECEMBER 49, 1850


the gold obtained from our mines will soon be eX
hsUsted in paving for excessive importatlons.
With profound conviction of their truth, re
peat the opinion and words cf my predecessor on
this vital subject, in his annual communication 20
Congress at the last session All history SHOWS
thar where are me workshops OF the world, there
mus; be the marts of the world, and the heart oil
wealth, commerce and power.
Ii has been shown by the experience Of several
years that the average rate Of duties imposed oy
the present revenue laws is about twenty three
per cent upon the foreign value OF our imports,
including free as well as dntiable goods.
During the last fiscal year imported OF for
eigu merchandise including specie, Sis i36,3lS
and We exported, OF domestic products, foreign
goods ana specie Sl5lS9s ,T20, leaving balance
against as of 500. 247.59S
A large proportion of this balance has doubtless
been paid by our domestic stocks, which find
ready sale at this time In European markets
These last, however, rs they only postpone pres
ent payment III coin, cannot be expected to hqul
date similar balances for coming years, even II It
We're the wish of the Governmental create a large
foreign debt of this kind The impolicy OF such
measure viii not be questioned, and 1t IS doubtless
the true interest OF the country TO avoid X.
| In regulating our commerce with foreign ma
tons, we are therefore compelled to take, as the
| true basis of safe importation from ali countries
the amount OF our own products, when we may
| reasonably calculate may find a market abroad
II - CcIlhtL luhL LiIS tit~tS tst'' ARMY VI s'
country to consume foreign GOODS will at this time
safely admit larger importation than in former
| wears, vet the experience OF the last year has
| shown that 0ur imports have been greatly beyond
our exports, which last must be regarded as the
| true measure of our ability to consume, Tor any
given number Of years.
! Unpou the large mportatons Of the past year
the increase should continue at the same ratio as
that of the past quarter which as already stated,
is SIS oCO 600, the aggregate amounttor the cur,
rent fiscal year, ending 30th June 1851, will not
| fall much short of $3.50 900 000 a survey of the
markets of the world it is believed, furnishes no
reason to expect that our expectations will ex'
coed those OF the last year, which, we have seen,
were Attraction less than l52 millions. Tins 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 lnjuri-
Gus to the revenue OF succeeding years.
These considerations forced by the existing
state of things upon the earnest attentlonot this
| Department, are submitted to the wisdom OF Con.
gress in the belief that they present reasons OF
| the most imperative character for the modhca-
ton of the present revenue laws. The large pros
pective importatious should be checked by
! higher rate of duties SO as to bring their aggre
gate amount within the limit of our Capability to
! pay. If the exports OF the last year define that
limit then our imports for the ensuing year should
not greatly exceed Sl52000,000. 1t is believed,
| however IubL We ulhN Nui1"4"hS N't' 49,
| export of gold, for several years to come, oil at
| least from ten to fifteen millions annually, exclu'
sive OF what goes abroad, direct from California,
without any detrimental effect upon the currency
or business of our people. The supply OF TINS
| metal from our own mines may at present De es-
timated at s50O000OO annually, including that
sent directly from California to other countries,
and this supply it is believed, will not be likely
to diminish in amount for tie next two or three
years
IT. then we can afford to spare the above amount
| OF the precious metals in payment OF foreign mer-
| cbandise. it may be fairly assumed that our ex-
ports including all articles, will be equal to about
| one hundred and sixty five millions, supposng al.
WAYS the trade Of the world to remain unaffected
| bv any disturbing causes In the opinion OF this
| Department it would be unsafe to assume an
| amount of imports MS basis upon which 70 levy
| duties for revenue beyond this latter sum.
If the present rates OF duties be applied to that
amount we should receive from customs only
81, $50 000 and the amount OF revenue required ior
the present and succeeding years would tall short
OF the estimates tor the current year, oy airactoh
over seven millions
1t cannot be doubted that rate of duty higher
on many articles than that paid by the present
law might be established without affecting lnjurl
ously the revenue The extraordinary influx OF
FOREIGN merchandise for the last year and the first
quarter OF the present one must be regarded as
| conclusive proof that an increase OF duties so rs
to advance the amount OF revenue seven millions
on the same amount OF imports Is ehtneiy pfaoti-
| cable.
That such increase will be found necessary to
the demands OF the Treasury, is belieyedt to be be-
youd doubt unless Congress shall discontinue
many Of the objects of expenditure which orlgl.
mated in our recent Territorial acquisition and
this in the opinion OF the Department, Wouid De
| equally impOltic und unjust
From the foregoing considerations, the Depart.
meut would would submit the following modifca-
tons of the present revenue laws
|. A change in the present aa valorem system,
which should impose specific duties upon ali ar
tcles to which such duties may be safely applied,
with home valuations upon all such as are neces-
sarily subject TO ad yalorem rates
H. If the principle of specific duties shall not
be adopted that the home valuation, instead OIL
the foreign, should then be applied to all imports
subject to ad valorem duties
Ill If neither OF the foregoing changes shall be
thought proper, then it is deemedshlghly necessa-
~ that the present rates OF duties should be IN
creased on e great variety OF articles whchlt will
be found could bear such increase with the most
salutary effects upon both trade and revenue
Either of the two first notifications suggested
above would undoubtedly correct many OF the m
CAPABILITIES OF the present system, place ali I'M
porters whether purchasers or manutactarefs on
equal grounds in respect TO valuations tor duty,
onord the revenue against the Migrant frauds
which are so easily perperatcd under existing
laws, and insure stability and permanent increase
of the revenue. They are therefore earnestly
commended TO the favorable consideration OF Con.
Ia any system it is believed that experience
hss settled the true policy to be pursued in seye,
raj particulars which enter into our system OF rev.
enue laws Among these are that all raw mate.
rial should be admitted at a moderate rate OF
duty when assessed at all, that all non enamer.,
ated articles should be assessed at higher rates OF
dutv than the average OF manufactured articles,
and that all articles composed OF the same mate
rial should pay in general the same rates OF duty.
In order to insure uniformity in the business OF
the custom houses, and equality in the valuations
under any system, earnestly recommend the
creation Of corps OF appraisers at large whose
duty it shall be to visit the principal ports OF entry
in tie United States from time to time, with pow