Lewisburg chronicle. [volume] (Lewisburg, Pa.) 1850-1859, 1851-12-10

The public debt, on the Goth ultino,
exclusive Of the stock authorized to be IS
sued to Texas by the act Of 9th Septem
Der, 1850, was s62 ,56O,395 26.
The receipts for the nezt fiscal year are
estimated at SOL 500, 900, which, with the
probable unapprcpriated balance in the
Treasury, on the 30th June next, will give,
as the probable available means Of that
year, the sum Of S63, 3,25S,743 09.
IF tie views of the Secretary Of the
Treasury in reference to the expenditures
required for the Territories shall be me.
by corresponding action on the part Of
Congress, and appropriations be made in
accordance Herewith, there will be an es-
tirnated unappropriated balance in the
Treasury on the S0th of June, 1858, of
2o,3e6,443 90, wherewith to meet that
portion Of the public debt due ON the first
July following, amounting to So, ,237 ,931
So, as well as any appropriations which
may be made beyond the estimates.
The value Of our domestic exports for
the last fiscal year, as compared with those
Of the previous year, exhibit an increase
Of Si3, ,646, ,322. At first view this con-
iition Of our trade with foreign nations
would seem to pnsent the most fattering
hopes Of its future prosperity. An exam
i.ation Of the details Of our exports, how
ever, will show that the increased value of
our exports for the last fiscal year is to be
found in the high price of cotton which
prevailed during the first half of that year,
which price has since declined nearly one
half
The value of the exports Of bread-stuffs
and provisions which it was supposed the
incentives Of a low tariff and large impor-
tations from abroad, would have greatly
augmented, has fallen from s6S, ,701, ,921
in 1877, to s26,05l,375 in 1850, and to
s21,9ls, ,G5S in 1851, with strong prob
ability, amounting almost to certainty,
Of still further reduction the current year
The aggregate values Of rice exported
during the last fiscal year, as compared
with the previous year, also exhibited =
decrease amounting to s46O,9l7, which,
with decline in the value of the exports
Of tobacco for the same period, make an
aggregate decrease in these two articles of
81, ,l56,75l.
The policy which dictated low rate Of
duties on foreign merchandise, it was tho't
BY those who promoted and established
it, would tend to benefit the farming pop
ulatiou Of this country, BY increasing the
demand and raising the price ofagricultural
products in foreign markets.
The foregoing facts, however, seem to
show incuntestibly that no such result has
followed the adoption of this policy. On
the contrary, Notwithstanding the repeal
of the restrictive corn laws in England the
foreign demand for the products of the
American farmer has steadily declined,
since the short crops and consequent
famine in portion Of Europe has been
happily replaced by full crops and compar-
a,ive abundance of flood.
1t will be seen by recurring to the COM
mcrcial statistics for the year, that the
value Of cur domestic exports has been in
creased in the single item Of raw cotton
BY s40,000,000 over the value of that
export for the year preceding. This is not
due to any increased general demand for
hat article, but to the short crop of the
preceding year, which created an increased
iemAnd and an augmented price for the
,rop lat year. Should The cotton crop
low going forward to market be only equal
q quantity to that Of the year preceding,
md be sold at the present price, then there
would be falling off in the value of our
exports for the present fiscal year Of at
,4O, ,OO0, 900, compared with the amount
for the year; ending 30th june,
Ipr1