The Hillsdale standard. [volume] (Hillsdale, Mich.) 1851-1909, 1851-12-09

| American citizens under the late treaty will
MexIco, for which the issue OF stock was au
thorIxed, but which was paid in cash from th
Treasury.
The public debt on the Goth nllitno, excln
siyc Of the stock authorized to be issued to Tex
as, by tho act Of 9th September, 1850, wa
So, ,560,395. 26.
The receipts Tor the next fiscal year are es
timated at S5I, 800 900. which. with the proba
bls unappropriated balance in the Treasury, OF
The 3oh OF June nex', will give, as the proba
Bile availuble means for that year, the sum o
$63, ,258.743 ee.
II has been deemed proper, in view of tn,
large expenditures consequent upon the acqu
sition OF territory from Mexico, that the esti
males should be laid before Congress ia such
manner as to distinguish The expenditures 90
required from the otherwise ordinary demand,
upon the Treasury.
The total expenditures for the next fsca
year are estimated at 42,S92, ,299 10. OF which
there is required for the ordinary expenses OF
the Government, 9th or than those consequent
upon the acquisition Of our new Territories
and dedncting tho payments on account Of the
public debt, the sum Of 1888, ,343l9 09; and
for the purposes connected directly or Indirect
ly with those Territories. and IN the fulilment
ofihs obligations ofibe Go vernment, contract
ed in consequence Of their acquisition, the sum
Of S9,549,l0l IL.
II the views Of the Secretary Of the Treas
ury in reference to the expenditures Tor these
Territories shall be met by corresponding ac-
lion on the part Of Congress. and appropria.
lions made in accordance herewith, there will
be an estimated unappropriated balance in the
Treasury on the 30th June, 1853, OF @20, 1866,
443 80, wherewiih TO meet that portion Of the
public debt due on the first July following, TO
S6237,9 93l 35, as we'll as any appropriations
which may be made beyond the estimates.
In thus referring TO The estimated expendi.
lures on account Of our newly acquired Terri
tories. l may express the hope that Congress
will concur with me in the desire that a liberal
course Of policy may be pursued towards them.
and that every obligation, express or implied
eutercd into in consequence Of THEN acquisi-
ton, shall be fulfilled by the most liberal appro-
prialions 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 $l3,64
322. AT first view this condition Of our trade
with foreign nations would seem 10 present the
most flattering hopes OF iuture prosperity. An
examination 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 dur
ing the first half OF that year, which price has
since declined about one-hslf
The value of our exports Of breadstuifs and
provisions, which il was supposed the incentive
OF low tariff and largo importations from
abroad would have greatly augmented, has fall
en- from S6870l ,02l, in '48, to $26. .05l 1878, in
so, and TO S2l,94S,653 in 81, with strong
probability, amounting almost TO certainty, Of
= still further reduction in the current year.
The aggregate values Of rice exported during
yoarss arlo- Texnfolt- uecrtasc athouuting 10
S46O, 9l7, which. with decline in the values Of
the exports OF tobacco for the same period,
make an aggregate decrease in these two arti
cles Of Sl.l56,75l.
The policy which dictated a low rate duties
on foreign merchandise, il was thought by those
promaed and established il, W ould tend
to benefit the farming population Of this coun-
try, by increasing the demand and raising the
price Of agricultural products in foreign mar
kets.
The foregoing facts, however, seem to sho&
n,contestibly that no such result has followed
the adoption Of this policy. On the contrary,
wilhstanding the repeal Of for the products
Of the American farmer has steadily declined.
since the short crops and consequent famine in
Europe have been happily replaced by full crops
1t will be seen by referring TO the CONNER
cial statistics for the past year. that the value OF
our domestic exports has been increased 10 the
single item Of raw Gotten by S4,000,000 over
the value Of that export for the year proceec-
ing. This is not due to any increased general
demand for that Article, but TO the short crop
Of the proceeding year, which created an In
creased demand and an augmented price Tor
the crop Of last year. Should the cotton crop
now going forward TO market be only equal in
quantity to that Of the year proceeding and DO
sold at the present ptices,then there would be
a falling off in the value OF our exports for the
present fiscal year OF at least 40,0O0,000 com
pared with the amount exported for the year
ending 30th June, 1851.
The production of gold 10 California for the
past year seems to promise large supply oi
that metslsrom that quarter Tor some time TO
come. This large aunu al increase OF the cur
rency Of tho world must be attended with its
ususl results. Thse have already been partial
Iy disclosed in the enhancement Of prices and
a raising spilit Of speculation and adventure,
tending tn over,rading. as well at home as a
broad. Unless some salutary check shall be
given to these nde nces. il is to be feared that
importation OF foreign goods beyond healthy
demand in this county will lead 10 sudden
drain of the precious metal from u.s. and bring
with it, as i, has done in former times, the
most disastrous consequences TO the business,
and capital Of the American people.
The exports Of specie TO liquidate our lore
ign debt during the past isical year have been
S25, ,263, go over the amount Of splcie emport-
ed. The exports Of specie during the first
quarter of the present fiscal year have been Sl4-
65l 1927. Should specie continue to be expor-
ted at this rate for the remaining three quarters
of this year ending 3Oth of June, 1852. the e.
normous .mout Of S5s,607 305
In the present prosperous condition oi the
national finances, il will become the duty OF
Congress 10 consider the best mode Of paying
off the public debt. IL the preaeut and aotic-
pated surplus in tho Treasury should not be
absorbed by appropriations OF an extraordinary
character, this surplus should be employed IN
such way and under such restrictions as Con-
gress may enact, in cxioguishing the ouis'and
Jog debt OF the nation.
By reference to the act Of Congress approx
cd 9th September. 1850, it will be seen that. iu
af