Martinsburg gazette. [volume] (Martinsburg, Va. [W. Va.]) 1833-1855, 1851-12-09
THE MESSAGE AND THE TARIFF.

THE MESSAGE AND THE TARIFF.
The numerous frauds which continue to be
praetieed upon the revenue, by false invoices
and undervaluations, constitute an unanswer-
able reason for adopting specific instead Of
ad valorem duties in all cases where the ma
ture of the commodity does not forbid il. a
striking illustration of these frauds will be
exhibited IN the Report Of the Secretary Ct
the Treasury, showing the custcm-house val
uation Of articles imported under former
law subject to specific duties, when there was
no indictment to undcrvalnation and the
custom house valuations Of the same articles,
under the present system q ad yai9rem d.
ties, 50 greatly reduced as TO leave no doubt
OF the existence of the most fragrant abuses
under the existing laws This practical eva
sion Of the present law, combined with the
languishing condition Of seine Of the great
interests Of the country, caused by over inl-
portations and consequent depressed prices,
and with the failure in obtaining foreign
market for our increasing surplus of bread
stuffs and provisions, has induced me again
to recommend modification Of the existing
tariff.
The production Of gold in California for
the past year seems 10 promise large sup
ply Of that metal from that quarter for some
time to come. This large annual increase
Of the currency Of the world must be atten-
ded with its usual results. These have been
already partially disclosed in the enhance
ment of prices and rising spirit of specula-
ton and adventure, tending to oycrtrading,
as well at home as abroad. Unless some
salutary check shall be given to these ten
dencics it is to be feared that importations
Of foreign goods beyond healthy demand in
this country will lead 10 sudden drain of
the precious metals from US, bringing with it
as it has done in former times, the most dis
astrous consequences to the business and
capital OF the American people.
The exports Of specie to liquidatc our for
eIgn debt during the last fiscal year have
been S24, 2G3.979 over the amount of specie
imported The exports of specie during the
first quarter of the present fiscal year have
been SlI,651.s2 Should specie continue
to be exported at this Cor the remaining three
quarters Of this year, it would drain from
our metallic currency during the year ending
Both June. 1852. the enormous amount of
S5S.607 30S.-Eft. from Presidents Mes.
The balance against US for imports over
exports for the tiro gears ending June seth.
1851. was some forty eight millions of dol
lars. OF the exports moreover some forty
millions were specie The balance Of imports
We learn also from the message, would have
been greatly more but for the high price of
cotton during the last half Of the year 1850,
consequent upon the partialfauro of the crops
Of the preceding year. That high price aas de-
elined about one-half. so that the crop of
cotton now going into market, if sold at the
present prices, and if it be no more in guam
tity than last years crop" would produce
falling off Of our exports this year of forty
millions
The amount of export of gold is about the
same as that received from California;
There is thus a constant drain upon the cur
rcncy. That drain has been doubled in
amount during the first quarter Of the fiscal
year since the 30th Of Junc last.
We have thus distinctly presented to us
the alarming fact Of a steady increase ofour
ircreign Indebtedness and the constant and
rapid drain of specie. Our experts Of bread
stnffs have fallen off from S6s,701 ,921 in
1s47 to $21 ,94s,653 in 1s5l-thc famine
in some parts Of Europe, alone, being the oc-
casion of the large export in ls47
With an an increasing debt--an increa-
sing drain Of specie-smaH crports-low
prices Of 1rheat-a pecuniary revulsion must
come-it is inevitable What is the remedy :?
maniiestly increased protection by Tariff
which now that the mischief has been done,
could only mitigate present distress but
would ultimately correct the evil lfthere is
any other remedy lcc ask irhat a is? We
call upon the Democracy, who are tic authors
Of the present condition of things, for cor
rectioa. If they do not do it, we invoke ey-
cry lover os his country to pat them dolcn.
Ss<<,~>---
THE PRESIDENTS MESSAGE.
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