Richmond daily times. [volume] (Richmond [Va.]) 1850-1853, 1850-12-20

! Dairf th Id fora;o,
m M 81 u i 81 3 Is, and we exported
OF OIL 9om PuO pre- ign goods and Specie $751; :
o9o'tSof ieeVmR against us OF S26 ,247, 598
large eoruo. NJ. III II see % has doubtless been
pa lTTEpysouI aoI - find ready sale
az l&s guns in 4, Ess skN These last, howev-
efts yiey oniy payment in coin
canno4 pc expe ..nar balances for
comlEg years, - wish of the govern
mentAo create 4ge t. ssi Ae3. Of this kind The
lmpoilcy q ;h q meast p. not be Questioned
and r. is doubtless the true in1 % the country to
IL regulating our commerce soreign nations we
are therefore compelled to tak4@as the true basis OF
safe importation from all coun al the amount of our
own products, which we may bly calculate may
find market abroad. a SA
II is certain that the ncAs sssy Of this country
TO- conSIme loregn goods, ~. & time safely admit
largerAmpoftation than IN siears, yet the expe-
Renee OF theaaSt year mas e. ur imports have
been greatly bey4nd, our last must be re-
garded as the true I'M Az Wv to consume, for
any given number of ys #f
If upon the large importatit ne ear the
increase should continue at the that of the
past quarter, which as already stated, IS 900,
the aggregate amount for the current fiscal year endng
Both June, 1851, will not fall much short Of $3.50 0osx
000 survey OF the markets of the world it is belev-
ed furnishes reason TO expect that expectations
will exceed those OF the last year. which have seen
fraction less than one hundred and ty-wo 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 results fatal to all bran
revenue ofsucceeding years.
These considerations forced by the existing state off
things upon the earnest attention OF this Department. are
submitted to the wisdom of Congress, in the belieffhat
they present of the most imperative character
for the modification OF the present revenue laws. The
large prospective importahons should be checked by
higher rate OF Duties so as bring their aggregate
amount within the limit of our capahility 10 pay If
the exports of the last year define that p, then
imports for the ensuing year should not greatly exceed
1852 600 600. 1t is believed, however, that we may
calculate safely upon export OF gold for several years
to come of at least from fifteen millions annual
ly exclusive of what goes abroad direct from California
without any detrimental effect upon the currency or
business of people. The supply OF this metal from
mines may at preSnt be estimated at $50 OO0
600 annually, including thasent directly from Caior
MIA other countries, and this supply, it is believed will
not be likely to diminish in amount tor the next two or
three years.
IT, then we can afford to spare the above amount of
the precious metals, in payspt Of foreign merchandise
may be fairly assumed thatour exports, including all
articles will be equal to about hundred and sixty
five millions, supposng always the trade OF the world
remain unaffected by any anrhing causes In the
opinion ofthis Department Swould be unsafe to- as
sumo amount ofimports as + basis upon which TO
levy duties for revenue beyond This latter sum.
Ii the present rates of duties be applied to that
amount should receive from customs only 81, $780,,
00O and the amount of revenue required for the pre-
sent and succeeding years would faEshort Of the esti
mates for the current year, by fraction over seven m
lions.
1t cannot be doubted that rate of duty higher on
many articles than that paid by the present law might
be established without affecting nuriousy the
The extraordinary influx OF foreign merchandise for the