The Kalida venture. [volume] (Kalida, Ohio) 1841-1865, 1851-12-12

tic debt, The sum Of So, ,555, iyS W
aud ior the purposes connected d'rec.ly
with those Territories, and N the iuin'''
ment OF the obligations q me uoyefn'
ment, contracted IN consequences q !ne''
acquisition, the sum Of $9,549, iVi III.
II the views OF the Secretary oi 'he
Treasury IN reference 70 the expenditures
required for these Territories shall DC
met bJ corresponding action on the par
Of Congress-, and appropriations made IN
accordance herewith, there VIII DO an
estimated unapproprIated balance IN tne
Treasury on the 5Uth June' IcoS, o.
$2O,S66, ,44s 30, wheiewIih 10 meet 'na'
portion OF the public debt que on sne ELS ls'
OF July following, amounting 10 $o'SoS,- .
WI 20, as well ~ any appropriations
which may be made beyond lhe es'lma'es'
In thus referring TO inc es'imated ex-
pendltures on account OF our newly ac'
quired Territories, may express the
hope that Congress concur with me 10
the desire That liberal course OF po''cy
may 90 pursued towards 'heni' ana 'aa'
every obligation, express OF implied en-
tered into IN consequence of their aoqu'sl,
ton. shall DO iuiflied by tho most iloefai
appropriations Tor 'hai purpose.
The values OF our domestic exports ior
the last fiscal year, as compared WIN
those OF the previous year, exhibit an IN
crease OF $l5,o46,S@@. AZ nrst view
this condition OF our trade with foreign
nations would seem TO present the most
Hastefing hopes OF lts future prosperity
An examination OF the details OF our OK.
ports, however, will show the increased
value OF our exports Tor the last hscal
year is to be found 10 the high pr'ce OF
cotton which prevailed during the iirs'
half Of that year, which price has since
declined about one halt.
The value OF our exports OF breadstuns
and provisions, which u was supposed
the incentive OF low tariff and large
importat'ons from abroad would nave
greatly augmented, has fallen from
sos, ,70l ,92l, in lS47; TO $26,05l ,37S
in 1850, and 10 $2l, l,94S,653 in 1851, t,
with strong probability, amounting al
most to a certainty, of still further
reduction in the current year.
The aggregate values of rice exported
during the last fiscal year, as compared
with tho previous year, also exhibit de.
crease amounting to $3.50, ,9l7, which,
with decline in the values Of the ex-
ports Of tobacco for the same period,
makes an aggregate decrease in these
Two articles Of 81, ,l56,76l.
The policy which dictated low rate
Of duties on foreign merchandise, il was
thought by those who promoted and
established il, would tend to benefi, The
farming population Of this country, by
the demand and raising The
price Of agriculture produce in foreign
markets.
Ike foregoing facts, how, seem to
show inconiestibly that 10 such result has
followed the adoption Of this policy. On
the contrary, notwithstanding tne repeal
Of the restrictive corn laws OF England,
the foreign demand Tor the products OF
the American iaimef has steadily de-
clined, since the short crops and conse'
quent famine IN a portion OF Europe have
been happily replaced ny crops and COM
Paratlve abundance OF food.
II Will 90 seen oy recurring TO The
commercial statistics for the past year,
that the value OF our domestic exports
has been increased IN the single item OF
raw cotton by $4O,OOO,OOO over the
value Of that export for the year prece.
ding. This is not due to any Increased
general demand for that article, but TO
the short crop Of the preceding year,
which created an increased demand and
an augmented price for the crop Of last
year. Should the cotton crop now going
forward to market be only equal in quan.
tity 10 that of the year preceding, and be
sold at the present prices, then there
would be falling OFT in the value ofour
exports for the present fiscal year Of at
least $40,O0O,0O0, compared with the
amount exported for the year ending
30th June, 1851.
The uroduction Of gold in Califnrnia