The Lancaster gazette. (Lancaster, Ohio) 1846-1852, 1851-12-04

Ppiteu .-..-. V7J3 b9J
specie ..-.-.....-.. 2j93l 800
- sll7 jl7 1870
Since the lot Of December last tie ,uy menls j
cash on account oI the public debt. exclusive Of
interest, have amounted To 81 sol 4lG Sc, which
however. iucludes tho SUN Of t32i2 100 paid On
der the 10th article O the treaty. with MeIicn
aud tie further sum Of s2 50l.3l3 IS being tie
amount Of awards 70 American cl'lzens under the
late treaty With Mexico, lpr which the 8.ur Gi
sIocks was authorized, bul which was paid ~ calh
from the Treasury.
lie public debt on the 20Lh u,im1, Gse!1,iy-
o' tho stock authorized u he issued t, Texas 10y
the act oI 0.h September. 1850. was 5C2 $50 .35j
&c.
The receipts for the next fiscal year ere osi
mated at S5l 800 900, which, with the probable
unapproprilied balance in tie Trel,nry. of thp
Both June next, will give. o. the probable ayal-
bic means Tor that ye:r,t sum o. tG3,258,7i3 90
lthas beon deemed proper. 10 yew .; Inc larrc
expenditures consequent upon the acquisition VI
territory from MsSico, hat the cslimies Tor toe
next fiscal year should be laid befrs Con gree. in
such rDanner as to distinguish the expenditures
90 required from the otherwise ordinary demands
upon tho Treasury.
The total expenditures FIR tho next fiscal year
hre estimated ut $42. .992 2O9 10 of which there /,
required Tor the ordinary purposes nf tue Govern
ment other than those consequent upon the az.
qusitlon OfOur new territories aud deducling IN.
payments on account Of the public deht. the su,l
OF $33, ,3i3 1873 o. and for the purposes connected
directly or indirectly with those Territories, aud
in the iultiIment Of the obligations Of the Govern.
ment contracted in consequence Of ther acuuiai.
ton, the sum Of ~, ,5i9,l0l II.
II tie view Of tue Secretary Of the Treasury In
reference TO the expenditures required Tor these
Territories shall be met by corresponding actinu
on the part Of Congress- and appropriations made
in accordance herewith there will be an sstirl,t
ed unappropratsl balance in tho Trcasury on the
3Oth June. 1853, oft20, ,3GG 443 90. wherswitl 10
meet thut portion OF the public debt due nn the
first July following. amounting to 60 a37 .9Jl 81.
Us well as Guy appropriations which may be mule
beyond the estimates.
In thus referring 10 the estimated ex xpeudi,ugas
on account OF our newly acquired Territories,
may express the hope that Congress will concur
with me in the desire that liberal course Of pol
cv may be pIrsued towards them and tnat every
obligation, express or implied, entered into Il,
consequence Of their acquisition shall bs .u.I He'd
by the most liberal appropriations for that rur.
pose.
The values Of our domestic exports for the last
iisca year, as compared with thoseof the previous
yehr exhibit an increass Of Si3Gi6, ,322. At first
view this condition Of our trade with foreign Va.
tlons would seem 10 present the most flltesing
| hopes OF its future prosperity. An examination
OF the details uf our exports however will show
that tue increased value in oar exports for the las
fiscal year Is 10 be iuund in the hgh price of cot
to Il which prevailed during the first half Of that
yeer,whiclI price has since declined onehaif
The value OF our exports of hrsadstqiT5 and
provisions, which il was supposed the incentive
Of low tariff aud large impGrtltioLs FROM abroad
would have greatly augmented, has taleu fun
t68.70l ,92l in l3l7 to $26 O5l 1873 in 1859. and
to l.gi3 $50 III 1851, with 4 strong probability.
amounting almost To a certainty, of still further 10.
dnc;i1n in tho current year
The aggregate yaGs u! rice exported darin.
tho last tscal year, as compared with the preyi
Gus year, also exhibits a decrease amounting 10
S460.9l7, wAicl, with decline in the values of
tue exports OF tobacco Tor the same period, make
an aggregate decrcuse in these two articles Of a..
| lj675i,
The policy which dictated low rate of duties
on foreign merchandise it YVES thought by those
who promoted aud established it, would ioad 10
benefit the farming POI ulation Of thi- couuuy by
increasing the demand aud raising tlv price Of
agricultural products in 1areign markets.
The foregoing facts, however. seem to show
incOntestiby that no such result has followed tic
adoption OF this policy. On the contrary nutwit.-
standing the repeal Of the restrictive corn laws in
England. tho foreign demand for the products Of
the American farmer las steadily declined since
the short crops and con,eqnont famine in Europe
have been happily replaced by full crops and
comparative abundance Of food
1t will be seen, by recurring 10 the commercial
statistics of the past yoar, that tho value of our
domestic exports has been increased in the single
ILem OF raw cotton by $40 900 600 over the value
OF mat export for the year preceding. This is
not due to any increased general demand for that
article, but tho shor, crop Of tho preceding year,
which created an increased demand and m aug.
men'cd price for the crop OF last year, Shouli
the cotton crop now going forward TO marx ei
be only equal IN quantity To that Of The year pre.
ceding, and be sod al the present Prices thcn
there would be falling off in the va. ue of oar ~
ports Tor the present liscn year ofat least go.
100000, compared with the amount exported for
the year ending 30rh June 1851.
The production Of gold iu California for the
past year soelns to promise large supply of that
metal from that quarter for some time to come.
This large annual incroase of the currency of tue
world must he attended with It's usual results
These have beeu already partially disclosed in the
enhancement ol prices & rising spirit oi sue GU.
IuliOn aud adventure tending to oyertrmling as
well ut home as abroad. Unless some salutary
check shall he given to these Tendencies, it is t.
be feared that importatous of foreign goods be.
You'd healthy demand in this country will lead 10
sudden drain OF the precious metals from us
bringing with 1t, as it has doue in former times the
most disastrous consequences TO the business and
capital of tho American people
The exports of specie to liguidlte our foreign
debt during the past fiscal year have been Sal
9G3799 over the amount Of 81 ecio in ported The
exports OF specie during the first quarter of the
present fiscal year huye been $l465l 1927. Should
specie continue To be exported a this rate for the
remaining three quarters OF this year. it will draia
from our metallic currency during tho wear cnd.
ing 3Oth June, 1852, tue enormous amount Uf
$5S,Go7 1903,
In tie present prosperous condition Vi tue ua.
tinna! tinances, it will become the duty of Con.
gross to consider the best mode of pnying of tho
public debt. lRthe present aud anticipated sur
plus in the Treasury should not be absorbed by
appropriations ofnn extraordinary character this
surplus should he employed in such way, and un-
der such restrictions. as Congress may enact 10
exllngulshing the outstanding debt Of tic natinn
Fairfield County Bonds.
The Directors having entered into contract for
tue construction ofa large portion of tho Cipcn
nat Wilmington aud GAINESVILLE Rail Road, it hus
become necessary to take immediate steps to pro
cure the required funds, in order that there may
beno failure or cause of delay on their part.
Bonds bearing interest at the rate off per cont