The Athens post. [volume] (Athens, Tenn.) 1848-1917, 1851-12-12
VOL. IV.---N0. 16S.

1.-THE large expenditures consequen, upon the
acquisition o! territory from Mexico, that
the estimates Tor the next fiscal year should
be laid before Congress in such manner as
10 distinguish the expenditures so required
from the otherwise ordinary demands upon
the Treasury.
The total expenditures for the next fiscal
wear are estimated al $42.S92,299 10. Of
which there is required for the ordinary
purposes of the Government, other than
those consequent upon the acquisition OF
our new Territories, and deducling the
payments on account of the public debt,
the sum of S33. .343, 1913 0S; and for the
purposes connected directly or indirectly
with those Territories, and in the fulfil
. nj Of The obligations OF the Government,
contracted in consequence Of their acqu'si>
ton, the sum of S9,549,l0l IL.
|! the views OF the Secretary OF the
Treasury in reference TO the expenditures
required for these Territories shall be met
by corresponding action on the part OF
Congress. and appropriations made IN ac.
cordance herewith, there will he an esti-
mated unappropriated balance in the Treos.
ury on the 30th June, 1858. of $50 366, ,443
90, wherewi,h TO meet that portion of the
public deb, due on the first July following.
amounting to Sc 237 .93l 35, as well as
any appropriations which may be made
beyond the estimates.
! In thus referring to the estimated ex.
pendirures on account of our newly &C.
quIred Territories, may express the hope
that Congress will concur with me in the
desire that n liberal course OF policy may
be pursued towards them, and that every
a. !, int
in consequence OF their acqu's,icn, shall
be fulfilled by the most liberal appropria.
tons Tor 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
S13 ,GIG. 800. At FIST view, this cond-
ton of our trade with foreign nations would
seem TO present the most tiatering hopes Of
its future prosperity. An examination OF
the details OF our exports, however, will
show that the increased value Of our ex-
ports for the last fiscal year is 10 be found
10 the high price OF cotton which prevail'
ed during the first halt of that year, which
price has since declined about one. half.
: The value Of our exports of breadstuffs
and provisions, which it was supposed the
incentive OF low tariff and large lmporta,
lions from abroad would have greatly aug,
mened, has fallen from S6S,70I ,92l. in
1917, to S26 O5I ,373 in 1850. and TO S2l,-
9iS ,Gj3 if'lSjl, with strong probability,
amounting almost TO a certainly, OF still
further reduction in the current year.
| The aggregate values Of rice exported
during the last fiscal year, as compared
with the previous year. also EXHIBIT de.
crease amounting to Si6O.9l7, which, with
Il al, -t IS
tobacco for the same period, make an ag.
gregale decrease in these two articles Of
Sl,l56,7jl.
The policy which dictated a low rate Of
duties on foreign merchandise, il was
though; by those who promoted and estab.
lsheh II, would tend to benefit the farming
population OF this country, by increasing
the demand and raising the price of agTi.
cultural products in foreign markets.
The foregoing facts, however, seem 10
snow inconlestlby thar no such result has
followed The adoption oil this policy. On
me contrary, notwithstanding the repeal Of
the restrictive corn laws IN England, the
foreign demand for the products Of the A.
merican farmer, has steadily declined. since
the short crops and consequent famine in
portion of Europe have been happily 70.
placed by full crops aud comparative as
bundance OF food.
Ii will be seen. by recurring 10 the CONF
mercia statistics Tor the past year. that the
value OF our domestic exports has been IN.
creased in the single Item of raw cotton by
$40 ,0O0, 600 over the value of that export
for the year preceding. This is not due TO
anv increased general demand for that ar
,ce, but to the snort crop OF tue pIeced-
ing year, which created an increased de-
mand and al augmented price for the crop
of last year. Should the cotton crop now
go,ng forward lu market be only equal in
quantity to that of tue year preceding, and
be sold at the present prices, then thffs
would be n falling uif in The value OF our
exports Tor the present fiscal year at least
! SAC, ,0O0, 600, compared with the amount
exported for the year ending SOh June 1851,
The production OF gold IN California TOR
the past year seems 10 promise large sup'
ply of tha, metal from that quarter for some
time to come. THIS large annual increase
of the currency Of the world must be at
tended with It's usual results. These have
been already partially disclosed IN the en>
hancement Of prices aud rising spirit Of
speculation and adventure, tending to over.
trading, Us well az home as aorond. Unless
some sau,ary check shall be given to these
tendencies, it is TO be feared that Imports-
,ions Of foreign goods beyond healthy de.
mand in this country will lead To q sudden
drain of the precious metals from US. bring.
ing will, IL, as it has done in former times,
the most disastrous couseq uences to the bu.
sIness md capital Of the American people.
The exports OF -pecie 10 liqndate our fore
cign deb, during the past i.csl year have
been S2I .2G3,91G over the amount Of specie
imported. The exports of specie during the
first quarter of the present fiscal year have
been lI.65l.S27. Should specie continue
to be exported at itis rate for the remain
ing three quarters OF this year, II will drain
from our metallic currency during the year
ending 3o:h June. l>j2, the enormous
amount ol SIS .6U,.3US.
In the present prosperous condition Of the
narional finances, II will become the duty
Of Congress to consider the best mode Of
payIn, of the public debt. IL the present
and anticipated surplus in the Treasury
4 &c., -