The star of the north. [volume] (Bloomsburg, Pa.) 1849-1866, 1851-12-11
Bloomsbury, Thursday, Dec. IL, 1861.
Fillmore's Figures vs.. FiIimore's Faucies.


The Presidents Message tells us that du-
ring the past year the revenue throng, the
tariff Of 1916 has been $50, ,312,97s 81,
while the total expenditures of the govern.
ment have been S4s,Oo5,s7s 81. This in
cludes Galphin claims and all and shows
that under the present tariff there will be an
accumulating fund in the treasury instead Of
all the land being s'runed."
But. replies Leather-head, there have been
too many goods imported TO raise this fifty
two millions of revenue, and we are over
trading. In answer TO this fellow, the mes
sage tells US that the total imports for the
past year have been S2i5, ,725, ,995 while the
total exports for the same period have been
S2I7, ,5i7, ,i30, showing, evcn on The custom
house books, a balance Of trade in faror Of the
United States TO the amount of $780,, 1885.
But the imports marked on the custom. house
books as worth $2i5 1000 900, al foreign val.
uation have been purchased abroad with
l6O, 100000 of American products, while the
$2i7, 100000 exported from the United States
have been worth at least $500, 900, 900 in
foreign ports. There is then not only bal.
ance Of near two millions in our favor, but,
according 10 American valuation, our exports
have been worth 10 us sl97, 600, 900 more
than our imported goods, and there is that
balance due our merchants on the books of
exchanges for The past year. All the profits
Of trade. and the expenses of commercial
exchanges are included in this balapce of
trade.
But, says Leather-aead, the large amount
of our exports is owing to an ncrease in the
expectation OF our cotton crop amounting in
itself TO SAC, 900 900 more than last year, and
this We cannot expect 10 continue another
year.
We reply, in the first place--ihere is no
certainty that we shall not export so much
cotton next year; in The second place-if
we do not export so much cotton next year,
the probabilities are that we shall export
something else in its place; or, in the third
place-we shall no, import SO many forei. n
goods if we have nothing 10 exchange for
them.
But if the value on cotton exported for
the past year be even S4e 600, 900 more than
last year, i, is TO be remembered that our to-
,al exports exceed those of last year by SI3,-
GAG, 1922 SO that if cotton had remained as
last year, there would s,.ll have been an in
crease Of 3,646, 322 in our exports.
The President fears that evil will result il
as much specie goes out of the country next
year as there has during the past one. 1t is
strange that this man can only reckon for
erif to his country and not for good He
should know that the natural law of trade is
to draw back one year what has gone out
too plentifully the last one. If it was even
true that loo much specie had been exported
that fact would make specie dear with us
next year. and cheap with the nations to
whom wa had sent it. II would make other
products cheap as compared with specie in
the United States, and comparatively dear
abroad. The result would be that the spe-
Gle would next year be drawn back to Us,
instead of going abroad in still greater abun-
dance.
But we say that no correct account can
have been kept of The vast increase OF our
specie blowing from the California trade
and that j, can only have gone abroad be-
cause i, was plenty, and hence cheap in this
country. II 1t had been going abroad oven
since the tariff of 1916 was passed, it mus,
long since have have become too scarce
here, and the tide Of its flow must have
changed.