Portage sentinel. [volume] (Ravenna, Ohio) 1845-1854, 1851-12-08


esssbckwas authorized. but which was ptd
II cash from the Treasury.
The public debt:on the Goth uiiu1s, excfu-
sivseof the-stocR snihorized to be isued to
Texas, by the acsof 9th Of Septemper,- 1852
was $62.s60. .3a5 26.-
~ The reeeipts-fozstiie next fiscal year are ca
fifaased a. $5l 100000, which, wi,h the
probabfe unappropriated b1'anee in the
Treasury, on. ,te 3eth Of Jane' next. vii
Give. as the pspbablef available means for that
year. the sumsof sS.25s,74s 90.
Il has been deespel proper, in view of fhe
barge expenditures consequent upon the nc-
qpistion oEte,ritory from Mexico, that the
esrinates fbrthe. next fiscal year shoald Be
hid before Congress- in such manner as to
distingni>h the expenditures sorequired from
tlis Otherwise ordinary dema,ds upon the
90 Treasury:
The total expenditures for the next fiscal
YEAR are estimated ut Sa2, ,6s2, 800 10, of
which there IS required for tlle ordinary pur
poser of the Government, other than those
80 consequent upon the aequisitit n Of cur new
q ssTer4itbfies and dediiet'ng the payments en-
account The pnbEc debt, the sum Of $685.
343,IS8 05 and frthe purposes conne ted
directly oriodarechy with those Territories,
asndintRe futfilment of tie obligations Of the
Government, contracted in consequence of
their acquisition, the sum of SO $40, ,1ol IL.
Fthe views Of the Secretary of the Treas.
ury, 10 reserenceto he expenditures required
"a for these Territories, shall be met by cores
5ss ponding action on fhe part Of Congress, and
u appropriations made in accordance Herewith
there viii be an estimated unappropriated
= Balance in the Treasury, on the soth June,
1883 Of S20,366, ,443 90, wherewith to meet
that portion Of the public debt due on the first
o ofJuly following, amounting to $6,237 ,93l s5
as well rs ahy appropriations which may
- be.nsade beyond the estimates.
In thus referring to the estimated expen-
aiures on account of our newly acquired Ter
rit,.ries, / my express the hope that Con-
arsss. will concur with me ia the desire that
liberal corrse Of policy may epursued TO-
w,rtls them. and that every obiigai ion ex-
pressed or i,nf led, entered into in conse-
qa.nce Of their acquisition, shall be fulfilled
by the most fbereI appropriations for Than
purpose.
The yalue,of our domestic exrort for the
last 6sgai year, compared with those of
thspresious year, exhibit an inorease CT s43,,-
646322. At first view this condition of our
trade with foreign nations would seenlto pre-
the most hntterng ropes Of ifs future
z prosperity. An examination Of the detafs Of
g our exports, however, " III show that the in-
a' crcased vaiae Of our exports for the last is-
al year, is to be- fund on. the high price of
c.tiop, which prevailed duiing the first half
ofthat year, which price has since declined
about oue-haif.
~ Theauthorities oftie Stgts OF Texas, ,at the
're1sest Of Tie Secretary of the Treasury,
have furnished schedule OF the bubIic debt
Of that Ststa created pricr to her admission
isto the Union, with, copy of laws un-
der which eeeh class was contracted.
9s Il kaser # IN tho documents furnished by
8 ffes Statssuf Texas. determined the casses Of
tsle clssinls " hchin my judgment full within
Hs tie rrsvisons Of the fcs Of Congress oflhe
lof September, 1850.
Tx On being ofici;lly Informed ef the accep-
s,nce By Texas of the propositions contained
10 ssre net ref rred t., caused the stock to be
prepared, and the five millions which are to be
issued Internationally, bearing an interest OF
Eve err cent, from the 1st day Of January,
1851, haYe been for some time ready lobe de-
Hvsred to tie siate Of Texas. The aullori-
lies Of Texas, up to the presenttme, hive no.
q. auth 3rized any one to receive this stock, and
ii renssiss in the Treasury Deaartment, sub
Jees to The order of Texas.
fhe re.eases required by law TO be depos-
tied in The T.easury, not having been fled
there, The reniaing FIVE m lliens have not been
issned This last amount of the stock will be
withheld from Texas until the conditions up
81, sshiai, it is to be delivered shall be COM
piled with by tho cred tors Of that State, un-
l-s4 C,ngresssha haiotl.erwise direct bya mod
ifcat:on ef ihe law.
In my last annusl message, to which re-
spec;fuly refer, lstated briefly the reasons
which fn1uced me to recommend a modfca-
tioa Of the present tariff, by converting the ad
vsiorsm into aspeeife duty wherever the ar
t0le impor ed was of such character as to
permit it, andthatsuch a discl imina alton should
be male, in l.zor cf the industrial pursuits Of
cur own country. as TO encourage home pro-
auc,ion Without excluding foreign competition.
The regoing facts, however, seemto show
incontestiblJ that no such result has followed
tie atf'pon Of this pGrcy. On the contrary,
Notwithstanding tho repeal Of the restrictive
corn laws in Easlsnd, the foreign demand
f,r the products Of the American farmer has
: ss..tiiy declined. since the short crops and
c .usequent famine in a portion Ct Europe
have been happily replaced by full crops and
comparative abundance Of food.
It will be seen, by referring to the CONNER
cial statistics for the past year that the value