The daily union. [volume] (Washington [D.C.]) 1845-1857, 1851-12-18
81

..,,,is,, SSURs Sc, A a 9ssI Register
Our fiscal year commences the fist of July every
year. and terminates the 30h OF June in the
ceedng Now the official results for the first quarter OF
the present fiscal year commencing S s on he lst OF July
follows The from duties alone for the first
quarter is Sl+.734, 9o9, or at the rate OF Sso.ol9,29
per annum. Our total revenue, from all sources.
for that quarter, was Si6,ooo,Ooo, or at the rate
of S64 900 900 a year. Our surplus during that
quarter, OF receipts over expenditures, amounted
year Now, AZ our whole debt is but $64 900 900,
such surplus, il continued annually for four years.
would leave us then LAS we have been twice betore)
without debt and lead necessarily TO another reduction
OF duties tCheersl Our average annual exports, un-
der the reduced tariff of $780, were Slel ,24e 7ss.
Our annual exports under the high tariff Of ls42
were Sl05, 920,4l2. The average annual difference
in the amount OF exports between the tariffs oil 1912
and 1916 s75,52e,376. Our exports for the
last fiscal year OF the tariff OF is42 were
Our exports for the last fiscal year, under the tariff
OF lS4s, las given in the protection journas)
Sle5, SOS $50, showing difference, in one year. in
favor of our reduced tariff, of Ss2,5lOl34. The
increased per centage of exports, comparing the
suits under these two last fiscal years OF the tariffs OF
s42 and ls46 ~ 10th per cent whilst our PoPula
ing increase OF our exports in nearly four times as
great a ratio as that OF our population. tApplause]
Well, gentlemen. the excess OF our export OF bread
sus and provisions from SAC to 1850, under the tariff Of
s4e over the -four years preceding under the tariff OF
Is42, 500. $50 GA and for three years, under
both tariffs, striking out the year OF famine and
favor OF The new system $50, ooo. 600 tAppause
And, gentlemen, when ! see 1t stated in your own
official returns that without any decided augmenta-
ton of the population OF the United Kingdom you con-
sumo some nine or ten millions quarters more OF
grain per than you did before the repeal OF your
laws, thear.l believe, gentlemen, that your popu
lation do not eat too much now and therefore must
conclude that under the former system they did not eat
enough. Iiear, hear, laughter and applause II 10
said by the opponent. Of our own reduced tariff that our
act OF 1916 Ii is said in my country, by the protection
iss that, under reduced tariff we took too large
amount Of British manuae'uTe.h1sss0y'i presume In
applause.l Our imports, according to the protection
journals Of America for the last fiscal year ending 30th
June, 1851, S223,o57 2eo, and our exports for
the same time were ss5s9s ,e5othe difference being
S27,l5s,6i0, or about ca per cent. on the aggre.
gate Of imports and exports Now this is said TO
be an unfavorable balance OF trade But must bear
in mind that our exports are given their home value
namely. the value which they bear a, New York. New
Orleans and our other shipping ports Hear hear
and ship these exports for nothing We make a large
profit, indicated by high rate OF interest and rapid
Embarrassing wealth. Hear. hear1 Experience has
shown this profit exports TO be abont ten per cent
which would amount, for 1851, to 8lg,3S9S65. Then
gentlemen, we don't carry suppose, imports or exports IN
American vessels without receiving the freights. Expe-
Renee has shown that sum- for such aggregate as IL
given Tor the year 1851 to be at least twenty millions OF
added the profit on our exports leaves
clear balance IN our favor Of sl24sl 255, after deduct
ing the S27l3s6lo before given Our total imports for
the last five yeara under the reduced tariff OF sa6 were
$3.50, 574,7 3I, and our exports, for the same time
$500 showing 40 excess in these five years Of
imports exports OF &a4 1885, 18th Der cent
on our imports Now, the gain TO the United StaleA from
the profits upon our exports, and from freghs on the
principles above stated would be Si62 3p4 and de-
ductne the excess of imports, would leave our profits
on the balance sheet prpcple $lis,3s3,6o6. But this
would be very imperfect view OF actual increase Of
wealth, during these five years as the result OF our re-
duced tariff ~Our domestic products and fabrics con
sumed home, similar those exported abroad must
have amounted during these five years to an aggregate