The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1850-12-18

hom 1874 to l64s, inqyusivN ~
BY "a reference 10 this table, Nwf1i be sven, that
the exports Of cotton TO several eow tries from
Great Britain, exceed those from the United States
10 me- same countries, and that tAS value OF such
exports of American raw cotton from Great Bri-
tain, totse son,,nen. II EmUpe, exceeds thesentre
exJSns.of Anaefican cotton Manufactures TO the
whole world
Our entire export Of bresdstuffs and provisions TO
al paris Of the world during me ne past year, wi, vii
1fmporrtd and the duties thereon =, r.t.t,t.a
~ These tstuisr sts nients are intended TO show
hcw important an article IN me c2mmercs oi the
m@ngfa efared by our own eIzeps, how widely our
Gimme e might he extended, Instead OF an i'm
epoi AEON Of nterly $40 oce 600 il value ef cotton
sitenu{aetists IN single year, our annual exports
of these manufactures should be 800, 900, 0oO.'
-.H'he wartho ofthe Uni ed ) ates will not be
filled wiih tht products and manufactures Of other
fAtons, sal as we are content 10 export our
cotton and other raw materials in their crude
STATE, ard import the most common articles of
eicfhng ii' l'
4 Our policy should he, by-'every constitutional
means, 10 eBcorrage the manufacture OF our own
nHhsefislr, and, so far as their product may be
Unnecessary Tor other nations, exchange them in
their most valuable form, for, under the prsse nj
system, The gold obtsne from our mines will soon
he exhausted in paying for excessive importatioas
With profound CONVICTION OF their truth, re-
PEA ,he,or'aion aid words OF my predecessor on
Ihisvital subject, in his annual cohmunication to
DOFgfess at the fastsessi0t: "Alt history shows
Sbst " here are the workshops OF the world there
fMfeet he NE nNrts or the world and the heart OF
1--WE alth tomnerce, and power"
AL has bern shown by The experience OF several
years, thst The average rate OF duties imposed by
ihe p'eseht revenue laws, j. about tyeRty-three
rsretnt seen The foreign value of our i'm in.
1tlHdirg nee rs well 40 dutiable goods.
= Db,ire The lar hscsT year, we imported of
sersign therchand,se inculog Fpece Sis l36,3ls;
ord We exported, ~ donir mr. products foreign
Seaiiist us uts26 24i ,59S I'
FAlsrs espi6pornon 6f this balance has, doubtless,
go ~ H. AAt .a.tt.. -
fteoy saie al This litne in European markets
ffete lasf, however, as they oliy postpone PIE
seht feymtAtia com, carnor be Expected 20 Iiqu.
teie similar haisuees for coming Years, even II il
were me a'ish uf 1hr goverqnee 10 create a large
f~stigIi d. n Of This kild TIE inpolicy OF such
measure viii not b stoned aud 1t ID, doubtless,
the rue interest ofthe cGuttrY to,ayoidi Il.
. la feeuafitg our commerce wirh foreign IA.
tiths,, az therefore comRifd 20 take, as tue
true tasist safe imp?rtauop from All counties, the
vDi6un b' Gun own }ioducts, which We NAV rea-
sehatly ca cuiatp may fud market abroad.
u iseeftsn thar thu increased ABILITY OF Ibis conn
ny - ctDssn' fofsigh goods, viii at his ims sife-
soh.h srgtr lulorsgol, than In foiIp years,
yetlhe s1rrntnct Of The last year has shown that
ocriml orrs have teea greatly beyond our exports
which fast o9st he r 4rded as the true measure
ofouf e6lhly TO eonspIne, for aIy gwen nuspbSr of
II Upon the large importatiDns OF the INST year
htintftes should continue at the same ratio as
Ma' The past quarier,,whch as already stated, is
Sioe0ooCO, she sggregats amount for the current
nttslrttr, epdinp 30 Jule, 1851, will not flil
Bsuch OF $3.50 o. 900 survey OF the m itkeIs
o. he wor'd, tits btiiev,d, furpishts no reason to
tzptet mat our Expectations will exceed hose of
the lat year, which we have seen were fraction
less than l52 millions. This ould leave Oh the
trade ct The current fsca year, with foreign coun-
ifitf, en- alarming balance which could not fail TO
be iet ia ulls fatal to all branches of business at
bcme and highly injurious to the revenue Of sue
cetdiDg years
These considerations, forced by the existing
stale OF thns upon the earnest attention OF this de-
oF
gr.ss 10 The belle thst they present REASONS of lie
most imperative ebsracteI for modification of the
present revenue laws. The large prospective i'm
pouaQQJs should he checked BY higher rate of
duties, so as TO bring their aggregate amouat with
10 he limit 81 our capabity 20 pay. IL the exports
OF the last year de hne that limit then our imports
for NE ensuing year should not gre ally exceed
Go2 eOu,COO II Is believed, however, that we msy
calculate safely upon export of gold, the several
years 10 come, OF al leesi from ten to fifteen mil
hons annually. exclusive ef what goes abroad,
direct fEom California, without any Sentimental
feet upon the currency or business of our people.
The supply of THE me- al from Our own minea may
ending that sent directly from California to other
eountries, and this supply, it is believed will not
be likely to diminish IN amount for the next two
three years ..-.,. ...f.t "a. ....4l...
If, then, we can afford to spare the above amount
of the pre- cious meals, in pay ment of foreign mer
chandise, il may be fairly assumed that our exports
including all articles, will be equal to about one
hundred eRd sixiy-hye millions, surprising always
the trade of the world 10 rems ia un sfiecttd by any
disturbing causes. In the opinion of this depart
ment IL would be unsafe to assume an amount Of
imports basis upon which to levy duties for re-
venue beyond this later sum. o. .t.. b.
III the present rates Of duties be applied TO that
amount. We should receive from customs only
81 $50 eco, and the amount of revenue required for
the present and succeeding years would fall snort
ct The estimates for the current year, by fraction
II cannot be doubted that a rate OF duty higher
ON many articles than that paid by the present law
might be established without affecting njuriously
the revenue. The extraordinary influx OF foreign
merchandise FOR the last year and the first suarter
ct he present one, must be regarded conclusive
proof that an increase OF duties to advance the
amount ct revenue seven millions on the same
amount OF imports is eRtrely practicable. -..~
That such increase will be found necessary TO
the demands of the Treasury, s believed TO be be-
yond doubt, unless Congress shall discontinue
many oil the objects OF expenditure which ofigina-
ted in recent territorial acqniritons and this
IN the opinion OF the department, would be equally
mpoc and unjust. ID. ...- .....t.t o. Q -.
From he foregoing considerations, the depart.
ment would submit the following notifications OF
our present revenue laws- ....
l. A change IN the present ad vsrlor.m system,
which should impose specific duties upon all arti-
cles 10 which such duties may be safely applied, |
with home valuations upon all such a. are necessa-
rly subject TO sd vaorem rates. .... ....f.. o.
III II the principle OF specihc duties shall not be
adept, d, that the home valuation, instead of the
foreign, should then be applied to all imports SUBJ
ject TO ad valorem duties. E. t
Ill. II neither Of the foregoing chan es ehai be
thought proper, then IL is deemed highly neces-
sary that the present rates az dufes shoud be in
creased a great variety Of articles which IL will
be found could bear such increase With the mos,
salutsry effects upon both trade and revenue. i
Either Of the two first notifications suggested
shove, would, undoubtedly, correct many of the
inequalities OF the present syslem,, place all inn
porters, whether purchasers or manufacturers, on
equal grounds In respect to valuations for duty,
guard the revenue against the fragrant frauds which
are 80 easily perpetratsd under existing laws, and
insuIe stability and permanent iscrease OF the reve-
nue., They are, therefore, earnestly commended
10 the favorable consideration OF Congress-
In sny sy stem II is believed that experience has
sfttled the tue policy 10 be pursued in several par
ticulars which enter into our system of revenue
lave Among these are that all raw material
should be admitted at a moderate rate of dutv,
when assessed at all, that all non-enumerated arti-
rlee should no al M nf