Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1851-12-05

v Js.nce 10 ,he Report Of the Secretary oil me lfea.
suv m that the a1a m ,rhcb win the bull
@ in Ihe Treasury on the LIST July, 1851 eaye' us Inc
available for the year the sum Of ss Ga
The 10 al 70! same PERIOD were
The ttal imports for the year ending SUN Jnne lSoi
OF whc there were in specie, o. $50 30 9 9o6
The sxpurrs for The SAME period WERE -i''iii'o
OF whici there of domestic pro- ,7o .n7ss
ducts, - n zoo COZ
Specie, s2I7 5l7 l3o
Since hc Is, of December last the payments in cash on
account Of the public debt exclusive OF interest," nave
amounted 10 S7,50l.4 Sc; which, however, ncuues Inc
sum OF SO 2i2 400 paid under the I'm nTicG OF inc ey
with Mryi.o and the further Of 81 l5 A. being the
noun, of awards American citizens under the ate treaty
with Mexico for which the issue OF stock was authorized
| hu which was paid in cash from The treasury.
The pulc debt the Goth ul,imo exclusive OF the STOCK
authorized 10 be issued Texas by the act OF 9Th Sepiem-
Der, 1850 was 500, 560,395 26. .
The receipts for The fiscal year are estimated al
S 500 OOO which with the probable unappropraed naance
in the Treasury the 30 June next viii give as me
liable available for that yoar the sum OF
II has been deemed proper in view Of the large cxpendi-
ues consequent upon the acquisition OF territory from
Mexico that the estimates for the next fiscal year shouo DC
al before Congress in such manner as 10 distinguish Inc
expenditures 50 required from the otherwise ordinary de-
nands upon the Treasury !.
at H. Of which there is required for the ordinary
of the Government other than those consequent
upon the acquisition Of new Territories ana aeauc.ng
The payments Oh account of the public debt the sum OF
1913 i3 9S 0 and for the purposes conaectea arec OF
Indirectly with those Territories and in the iunen OF inc
obligations of Government contracted IN consequence
of their ACQUISITION, the sum OF S9,349, !Ul II.
Ilhe views of the Secretary of The Treasury in reference
10 he expenditures required 70, these Territories snail be
by corresponding action on inc paIt o h
appropriations made in accordance theTewl mere WI" 90
estimated late n on IN Inc -, ee al a
portion of the public debt due on the hsl July ioo"ing'
amounting TO 93l 49, well as any appropriations
which NAV be made beyond the estimates
Tho ps lima r.
OF our newly acquired Territories may express the nope
Tim, Congress will with me in the desire mat ioc
raj course policy may be pursued towards he anu la'
every obligation, express or implied eeerea o III @
ouence OF their acquisition shall be fulfilled ny Inc most oe-
raj appropriations for that purpose
The values of domestic exports for the last nsca year,
as of the previous year. exhio an IN
crease Of sl3646322 At first view this Condition Of our
trade with foreign nations would seem 10 present temosL
aaitcrur homes of its future prosperity An examination OF
The details OF our exports, however, will show that lie IN
creased value Of our exports Tor me as lsea. ye, IL Ue
first hall Of that year which price has since declined about
onchaf. o. ;,
which il was supposed the Of low tariff and large
imDuations from abroad would have greatly augmented
has fallen SOS 0l92l in 1877, to IN soo
and TO Sl 9i5 $751; with strong probability amoont-
inu almost to certainty of still further reduction 10 the
current year. ,. ~, ,.-,..
cal year US compared with the previous year, also EXHIBIT
amounting 10 SI60 9l which, with decline nlhc
values of exports of tobacco for the same PERIOD make
4
The polcy which dictated low rate OF duties on foElgn
merchandise was thought by those who promoted AMI es.
+ abshcd IT, would tend 10 benefit the farming population OF
this county, By increasing The demand ana raising me
I price of agricultural products in foreign markets.
The foregoing facts however seem to show nconeslo
tina, such result has followed the adoption OF nls olcy
On the contrary Notwithstanding the repeal OF the rearlc
tive laws in England the foreign demand LOT hePlo
ducts of the American farmer has seGoy
the short c.nps and consequent famine In oi Europe
have been happily replaced by full crops and comparative
abundance OF !ont ..,;, ,o,;,cs
,r The mast wear that the value Of domestic eXpnshns
been increased in tho single item of cotton BY $40 0O0oO
over the value OF that export for the year preceding ms
is moi due any increased general demand Tor mar alc
bu, TO The short crop Of the preceding year. which crded
an increased demand and augmented price Tor hecrp
of last year Should The cotton crop now gong ofwnu 10
be only equal in quantity to that OF the year pecc'
DIM and DC sold the present prices then there would DC
falling oil n value Of exports for the prcscn'lsca
wear Of Il, least Si00000O0 compared with the amount eS
ported 10. The year ending 3Oth june lS5l
The production Of gold in California for the past yea
promise large supply o lnla me,a, IRON j 'a
Of the currency OF the world must be attended win ITS nsua
results These have been already partially disclosed III W
enhancement prices and rising spirit Of speculation ant
adventure tending TO ovcrlradng well at home as abroad
ns snr sauary check shall be given 10 these tenden
.s il is 10 he feared that mportaons of foreign goods be
vond healthy demand in this country will lead to suddeI
,in Of The precious metals from s bringing with IT, rs
has in former times the most disastrous consequence
J. 10 The business and capital of the American people
The experts Of specie lqudae our foreign debt durln
the past fiscal year have been S2 97o The amount
The OF specie curing tue
, Of the r.csen. fiscal have been Sl4 52I Sh0u
specie continue be exported at this rate Tor the remaining
three quarters OF this year it will drain from our metallic cur
during The year tnalns JUN june 1861 tc coou
h amour, OF SIS co, 305.
In the present prosperous condition of the national nan
COS il will become the duty OF Congress consider the hes
mode nj uaying off the public debt II the present and an
icpated surplus in the Treasury should not De ABSORBED o.
appropriations of extraordinary character ms sufu
should be employed in such way and under such restriction
as Congress may enact in exlinguishng the outstanding
C debt Of the nation nj. eo,
5cr 1880 will be that 10 consideration OF certn
concessions by the State Texas, is provided that III
"uned States shall pay to The State OF Texas me sum
ten millions of dollars stock bearing hive per cent inter
est and retecnab the end of fourteen years the inter
est pa;abc half yearly the Treasury Of the United States
In the same OF the law it is further provided tina
no more than five millions Of said stock shall be issued Unit
the creditors of the holding bonds and other certificate
OF stock Of Texas for hch duties on imports rere spcc
oedged siil first file the Treasury OF the United State
releases OF all claims against the United States for or on &C
coun; said bonds certificates in such form as shall
prescribed by the Secretary Ut the Treasury and approved
A by the President of the United States
The form OF release thus provided for has been prescribed
by the Secretary the Treasury and approved II has beer
" published in all the leading newspapers in The commercial
cities OF the United Slates and all persons holding claims
the kind specified in the foregoing provlso were required
file their releases lin the form mus prescrneo) IN he
sury the United States before the lst day OF Octo
Ger. 1851. Although this publication has been continued
from the 25h day Of March, 1851 yet up the LIST of Octo
Der last comparatively few releases had been filed by TIL
j. creditors of Texas.
The authorities Of the State of Texas the request Of TIL
Secretary Of the Treasury have furnished scneauie OF tn
pubc debt that State created prior to her admission int
the Union wh copy of the laws under which each clas
: contracted.
have from The documents furnished by the State o
Texas determined the classes Of claims which in my judg
nen fall within provisions of the act OF Congress Of thu
i 9th of September, 1880
On being officially informed Of the acceptance by Texas
the propositions contained in the act referred TO- caused
the stock be prepared and the five millions which gre
be issued Internationally bearing an interest OF five pei
cent from the st day Of January 1851 have been for some
time ready be delivered 10 the State of Texas The au
tories of Texas up TO the present me have not author
lied any receive this stock, and 1t remains in the
Treasury Department. subject 10 the order of Texas
The releases required by law 10 be deposited in the rea
sury not having filed there the remaining five millions
have issued. This last amount OF the stock will BE-
withheld from Texas until the conditions upon which &c
be delivered shall be complied with by the creditors OF tina
Stale unless Congress shall otherwise direct BY modica
, ton Of the law
In my last annual message which respectfully refer
stated briefly the which induced 10 recommend
modification OF the present tariff by converting the I'D va!o
rem into specific duty wherever the article imported
such character permit H. and that such dscrimnh
ton should be made in favor OF the industrial pursuitsN our
| home production without