Lewistown gazette. [volume] (Lewistown, Pa.) 1843-1944, 1851-12-05

satiOn. on an equal footing with ministers
who represent this country at the courts Of
Europe.
By reference to the Report of the Secretary
of the Treasury, it will be seen that the ag-
oregatc receipts for the last fiscal wear 4
mounted to So 2,3l2,979 SO: which, with the
balance in the Treasury on the first of july,
1850. gave as the available means for the
year, the sum of S5S, ,9l7 ,524 &c.
The total expenditures for the same period
were Si8, ,00j, ,S18 GS.
The total imports for the year ending 30th June,
1851. were S2I5, 725 955
OF which there were in specie 1867, sol
The exports for the sam9 period were S2l7,5lTl30
OF which there were of
domestic products SlIS, ,546,553
Foreign goods re.exported 9,138,695
Specie 29,23l $50
-S2I7,5l7,l3 ,l30
Since the 1st December last the payments
in cash on account of the public debt, exclu-
siye Of interest, have amounted to - ,5Ol,-
456 SO; which, however, includes the sum of
50 242, 400 paid under the 10Th article Of the
treaty with Mexico, and the further sum Of
50 59I ,2l3 45, being the amount of awards
to American citizens under the late treaty
with Mexico, for which the issue Of stock was
authorized, but which was paid in cash from
the Treasury.
The public debt on the Goth ultimo, exclu-
sive Of the stock to be issued to Texas by the
act of Sept, 1850 was SG2, SIC, ,395 %.
The receipts of the next fiscal year are es-
timatcd ut SJ1, 500, 900, which, with the pro-
bable unappropriated balance in the Treasu-
~ on the Both June next, will give as the
probable available means for that year, the
sum of So, ,25S,743 %.
1t has been deemed proper, III view Of the
large expenditures consequent upon the ac-
QUESTION Of territory from Mexico, that the
estimates for the next fiscal year should be
laid before Congress in such manner as to
distinguish the expenditures 50 required from
the otherwise ordinary demands upon the
Treasury.
The total expenditures for the next fiscal
year are estimated at So, ,S92, ,299 10, Of
which there is required for the ordinary pur
poses Of the Government, other than those
consequent upon the acquisition Of our new
Territories, and deducting payments on ac-
count Of the public debt, the sum Of S33,
343, 1913 0S: and for the purposes connected
directly or indirectly with those Territories,
and in the fulfilment of the obligations of the
Government, contracted in consequence of
their acquisition, the sum of 81, ,649 l0l II.
If the views of the Secretary of the Treas
ury in reference to the expenditures required
for these Territories shall be met by CORES
ponding action on the part of Congress, and
appropriations made in accordance Herewith,
there will be an estimated unapprOpriated
balance in the Treasurp on the Both June,
1852, of S20, ,366, ,444 80, wherewith to meet
that portion Of the public debt due on the lst
July following amounting to S6,237 ,931 35,
as well as any appropriations which may be
made beyond the estimates.
In thus referring to the estimated expendi-
lures on account of our newly acquired Ter
ritorics may express the hope that Congress
will concur with me in the desire that a
liberal course of policy may be pursued to-
wards them, and that every obligation, ex-
press or implied, entered into in consequence
of their acquisition, shall be fulfilled by the
most liberal appropriations for that purpose.
The values Of our domestic exports for the
last fiscal year, as compared with those Of the
previous year, exhibit an increase of S4S,-
646, 800. At first view this condition Of our
trade with foreign nations would seem to pre-
sent the most fatterins hopes of its future
An examination Of the details
Of our exports, however. will show that the
increased value of onr exports for the last fis-
cal 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
about one-half.
The value of our exports of breadstuffs and
provisions, which 1t was supposed the incen-
tive of a low tariff and large importations
from abroad would have greatly augmented,
has fallen from Sos. 7Ul ,O2I, in 1917, to $40
0j ,37I3 in 1850, and to S2l .94S, ,6j3 in 1851,
with a strong probability. amounting almost
TO a certainty, of still further reduction in
the current year.
The aggregate values of rice exported du'
ring the last fiscal year. rs compared with the
previous year, also exhibit decrease amount
ing to $3.50, ,9l7, which, with decline in the
values of the exports of tobacco for the same
period, make an aggregate decrease in these
two articles of l,l56,7jI.
The policy which dictated low rate of du-
ties on foreign merchandise, it was thought
by those who promoted and established it,
would tend to benefit the farming population
of this country, by increasing the demand
and raising the price Of agricultural products
in foreign markets.
The foregoing facts, however, seem to show
incontcstibly 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 a portion of Europe
have been happily replaced BY tull crops and
comparative abundance of food.
1t will be seen, by referring to the COM
mcrcial statistics for the past year, that the
value of our domestic exports has been in
creased in the single item Of raw cotton by
S40,OO0,000 over the value of that export for
the year preceding. 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 quantity to that of
the year preceding, and be sold at the pres
ent prices, then there would be a falling off
in the value of our exports for the nrcsent