The Ottawa free trader. [volume] (Ottawa, Ill.) 1843-1916, 1851-12-06


e which alone they have been, or are expected "a
4 BE- carried into effect.
Peace has been cuuelulei bctwcc the contend
a ing parties IN the island of 81 pomirs, and II Is
hoped upon durable basis. Sdch /, the eNicn
OF our commercial relations with hat island, that
the L ). cannat fail to fee, 4 st.oug interest II
. IN iis tranquility
The Cnice of Commissioner 20 China remains IN
tiled Several persons have been appointed, aud
lht place has been Offered to Others, all Of whom
have declined ITS acceptance. on the ground oi he
nadeqnocy % the compensation Tie annual a.
,owance sy law i~sGuuV anI there Is no provision
90 any oI'at ! earnestly recommend thc c,rsi-
dyrauou ei .th' sutiec: 10 congress, Our com.
mtrce With China Is highly important, Ud Is be
coming mSrG anu nlore 50 ~ Consequence OF the
increasing intercourse between or ports On the
Pacific coast aud En~tru Asa China is under
stood to he acountry ia which lyiu4, /, ycry ex.
DeuNlyr, aud know Of no reason WHY the Anne.
rlc.n Commissioner sent ,li,hsr shpall not hc
placed, ia regard TO coupeu>aii.n. On an equal
footing W,th nGHibers who represent this eJuu,r,
At the courts Of Europe
/ By reference 10 the report CT the Secretary Of
The Treasury, 1t will be seen tAat the arcrr,..t,
receipt, !r the last fiscal year amounted t. $50,
I Gl2yiy 81. which with tie balance iu the Urea
sury on tie Isl Of iuiy, 1850, gives a, tie avail,
able means for The year The sum Of S5S.9l7o24
80. tbs total expenditures Il! tie same period
we're sILvt5,s9S Is.
The total imports fsr lie wear ending 3OtA
! june, sSl, We're, @I5,595 gg5 Of which there
were in specie - 9G7 gOl The exports fur the
sarae period were S-l5al-ISl. oi which there
were Of domestic product, Sl1S5tG5sd. Eurvilu
! goods exported, S97aS COS. specie. S2e9alSsu
-totul. S-lIJlIlGp Since tie lst Of D.,rn.
beg last the payments in cash on account Of the
public debt, exclusive Of Interest have amounted
20 SI5ol 400 50, which however. excludes the
sum OF S52is 400, paid uu3cr the .rh article Of
the treaty with Mexico and tie further sum Of
s2I9i 2lS IS, being the amour, ,i awards TO
Ameusau citizens under the late treaty with
Mexico, VOg N7eE-''the issue Of stock was author
ized, but which WAS paid cash from the Urea
>ury, The public debt ou the 2Ulh ult. exclusive
of the stock authorized TO be- issued to Trxls hy
the act Of 9th Scptumbyr, 1880, was So 256,0SS
20. Receipts for the next fiscal ear ate e,tima.
/ ted at S5l 100000, which with The probable un-
Appropriated balance ~ Tie treasury on the 3U.A
June next, vii. give, - the probable available
means for the year, tie SUN OF sos 2i9..I2 O9
1t has beeu deemed pWper IN view Of tue large
expenditure consequent upon the acquisition Of
territory from Mexico that the estimates for the
next fiscal wear should be hid before congress in
such manner as 10 distinguish he expenditures 81
required from tic otherwise ordinary demands
upon the treasury.
I The total expenditures for the mex, fiscal wear
are Is iu.atel az S42Sy2 9IO ~. OF which there
= required LOT the ordinary purposes Of the gov.
eminent ohtr tASn these consequent upgu the nc.
QUESTION Of GUr new territory, aud dvLuctiug the
payments on account of the public dcbi. the suiu
+ Of S52.&lS.l9s o. ; aud for tie purposes c,nucc.
ted directly or indirectly with hose territories,
and IN the fulflment of the obligations Of the 20
yerment, contracted in consequence ii tLe.r &C
QUESTION, the SUN Of Sg549,lOl Il.
I /: tie yieas Of The Secretary in reference to
expenditures required Cor these territories should
be met by curTusVondu: action on the part Of
congress, sud appropriations made in accordance
Herewith, there VII! be an estimated unapuropr
aled balance IN the treasury. on the SO,h June
1852. Of S2Q366 i43 90. Wher,wi,h q meet that
portion Of the public debt due on the lst Of July
following, amounting to si25I y3l So, as well ns
7ny appropriation which may be made beyond
the estimated expenditures on account OF our
newly acquired territories. may express tie
hope tina. congress will concur with me IN tic De
sire that bcrll course Of policy NAV lie rur.
sued towards iheH. and that every Obligation tx
pressed o. implied. entered nto IN consequence
II ;!eiT acquisition shall be fulfilled BY the most
literal appropriation ioT that purpose.
The value Of or domestic exports for the last
last tisca! year, as compared with the previous
year exhibits an Increase Of S43 ,6i6322 At first
yiew, this condition Of our trade with foeegn ma
tons, would seem 10 present the most gathering
hopes OF 10, future prosperity An examination
Of tie details Of our exports however Will show
tlat the increased value &C our exports for thclast
f.ca! year is to he found in tic high price ofcot-
ton which prevailed during the frst half Of that
year, which prlce has since declined crehalf The
yalCe Of our exports Of brpad,tuff~ aud provisions
Whith It was supposed the incentive Of a low To-
rift and large lMpor,a,ioUs from abroad, would
have greatly augmented. has fallen from Sos.
70lg2l in 1917 to S3SOSl ,372 in 1850. and to
:2l9lS6i. IN 1851, with strong probability,
amounting almost 20 q certainty, of still further
reduction N the current year The aggregate va
lges Of rice, exported during the las, fiscal year,
a. compared with the previous year, also exhibits
decrease amounting TO S46o9ll, which, with
the decline in the value Of the exports Of tobacco,
l in tie same period make an aggregate decrease
in these two articles Of Sl,l5G75l. The pollcy
which dictated Z low rate Of duties on foreign
Newfoundland was thought by those who promo
ted and established il, would tend 10 benefit the
farming population Of this country, by Increasing
the demand and raising the price Of agricultural
products IN foreign markets.
. lUc inIt1NU7 litN7, ipNtNtIs seem W SLOW III
contcstibly, that no such resul, has followed the
adoption Of this policy. On the contrary, not
wi,hstandiny tie repeal Of the restrictive Corn
Laws in England the foreign demand for the pro-
duct. Of the American farmer has steadily declin.
ed since the short crops and consequent, famine in
a portion Of Europe have been partially replaced
BY full crops and comparative abundance Of food.
It will be seen by referring to the commercial
statistics for the past year that the value Of cur
domestic exports has been increased or the single
article Of raw cotton by forty millions Of dollars
over the value of that report for the year preccd.
ing. This is not done by any increased general
denond for that article but to the short crops Of
the preceding yoar, which created an increased
demand, ann an augmented price for the crop Of
last yepr. Should the cotton crop now going TO
market be only equal in quality to that Of the
year preceding aud be sold at the present prices
then there would be a falling of in the value OF
our exports for the present fiscal year of at leas.
fairly millions uf drllars compored with the am.
cunt exported for the year ending the Both June
1851
The production Of gold in California for the pre-.
sent year seems To promise large supply Of that
metal from that quarter for some time to come
This large annual increase Of the currency Of the
world must he attended with its usual results
These have been already partially disclosed in the
enhancement, Of prices and rising spirit OF specu'
lation and adventure tending TO overtradng n:
well at home rs abroad Unless some salutary
check shall BIZ given to these tendencies, it Is ,r
he feared that inlportations Of foreign goods be
4 Al