New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1850-12-20
Asit is, we must struggle, expostulate and

Mr.. Corwin shows that, with the Ar
nexation Of Texas and the consequent Mex
lean War, we entered upon an entirely new
pbase of our National existence. The
change thus effected has already cost US
One Hundred and twenty-five Millions of
Dollars, and has entailed upon US further
obligations to the extent of nearly One Hun
dred Millions more. Our Annual Ezpendi
lures have been swelled by those measures
from Twenty-Five Millions to Forty-eight
Millions per annum, and almost every de-
partment of the Government reports ne
cessity for still heavier OUTLAWS in conse-
quence of the vast and sudden extension of
our Territory and the obligations incurred
by the Treaty which confirmed that Ezten-
sion. Indian Intercourse and cessi0ns of
Land, Indian Hostilities and our bargain
with Mexico to protect her against the hard
customers we SO largely bought of her and
promised tocoDtrol-Docks, Defenscs, Sur
vcys, Judiciary, &c onthe Pacifc-money,
more money, here, there and everywhere
8nch is the universal chorus What is to
be done
The Revenue from Lands Is demolished
by the Military Bounty Acts, as enact
ed by the last and present Congresses,
and as certain to be modified at this ses-
sion. We trust the Lands are soon to be
made Free, but whether they shall OF shall
not be, they can yield but triaing reye-
nue. for twenty years to come. Meantime,
we have to pay nearly One Hundred Mil
lions of Public Debt, including Mexican
Indemnity, Mexican Spoliations, Texas In
demnity, &c. Uncle Sam has everybody
to pay-nobody has to pay him How is
he to raise the ways and means through the
next ten years ?
Our Revenue from Customs has been
quite large for some years past; but how
Simply by running in debt for good share
of the Importations on which this Revenue
was paid, Since the Famine Year in Eu-
rope, We have been running in debt to Eng
land atthe rate Of many Millions perannum.
Our Exports for the last fiscal year (nearly
all sent to countries which levy Specific
duties, and consequently profer no temp
tation to undergaIue) amounted to less than
One Hundred and Ffty-two Millions,
while our Imports exceeded One Hundred
and Seventy eight Millions, at the Impor-
ters' Custom House valuations to pay Ad
Valorem duties upon, while the real cost of
these goods was more than Two Hundred
Millions of Dollars. The difference was
made up by Railroad Bonds, Govern
ment Stocks, State Stocks, City Stocks,
&c. sent to Europe, and now held thereby
Mercantile balances of Indebtedness, and
by Foreign investments among Us. The
very Exchange wherein our merchant
princes congregate is virtually owned in
Europe our Banks, Insurance Companies,
&c. arc in part owned there while our
Railroads are mainly ironed from England
and paid f in Bonds. Let the present
course of Trade continue unchecked, and
one-fourth of all the Property in the Coun-
try will in effect be British property within
twenty years. Mr.. Corwin indeed esti-
mates our Imports for the fiscal year now
half spent at IlcO Hundred and Flfy
Millions Of DoltQrs, while our Exports
California Gold included) are not expect
ed to exceed One Hundred and Sixty-fve
Millions-a balance against us of Eighty
five Millions of Dollars in single year
Can this continue Patriots are You
thinking! How can you sleep on vol
cano so plainly charged with destruction
Now, in order toSdemonstrate the solven-
cy Of our National Finances under the sub
sisting policy, it is necessary to assume an
Importation Of Two Hundred Millions per
annum, custom house valuation, equivalent
to Two Hundred and Fifty Millions, hon
est measure. This will afford Forty seven
Millions Income, the average rate of duty
under our present Tariff being 23a per cent.
If we import so much, we must run in debt
at least Fifty Millions per annum. But run
ming in debt is not final process--it I'M
plies settlement and payday. Unless We
mean to sell the Country out to Europe,
and have its farms and houses, as we'll as
its public edifces, banks, canals and rail
roads owned abroad, we must calculate
that what is now borrowed is at some
future day to be paid Now the moment
the process of paying shall begin, the Rev