The republic., 1852-01-07
The receipts from all for the last fiscal year
amounted to $52 1912 ,979 81
The appropriations to 81 ,42S Ala 46


The appropriations to 81 ,42S Ala 46
Being an excess Of receipts Of 1866 Al
The estimated aggregate receipts for the current
fiscal year are placed at $5l, 100000. The expcn
ditures. as estimated and appropriated, amount to
$50, 1852, ,9O2 SO, being an excess Of estimated re-
ceipts over estimated expenditures OF $547 07 IL.
The receipts for the next fiscal year estimated
at S5 800 900, the expenditures at ~ 1872 299 49,
being an excess of receipts over expenditures Of
$S,9O7,7OO 81. Making an aggregate estimated
excess OF receipts over expenditures for the three
years ending 30th June, 1853, Of $l0 339, 1868 63;
subject, however, to a reduction to the extent Of
any appropriations which may be made for this or
the next fiscal years additional to the estimates sub
mitted.
Should Congress appropriate to meet the ordna-
ry wants of the Government, and to cover the
penditures required by new territories, as sub.
mitted by this Department, the balance, at the
close OF the fiscal year, ending 3Oth June, 1853,
will be more than sufficient to meet the amount
quired on the first Of July following for the re-
dempion of the public debt due on that day.
The question presents itself, in view Of the abso
lute necessity for continuance of the present re-
ceipts from customs, whether in all the branches
Of the industry of country there is that healthy
and vigorous action which is the basis of substan-
tial and lasting prosperity. Without this can
with no certainty presume upon any fixed amount
of continuous receipts.
The gross exports (tabe G,) for the last fiscal
year amounted to S2l7,5l7, 1870; of which there
was OF specie S.9,23l $50. and of foreign mer-
% .
exports of domestic productions, the of S 49,
$40 555. This presents large increase upon like
exports OF any previous year, and exceeds that OF
the last fiscal year in the sum Of S43,64G322 |
regret that this increase is merely of accidental
nature and likely to be confined to the year just past
BY reference to table II, it will be seen that for
the year ending the both June, 1850, there were
exported 635 .3S GOA pounds of cotton at an aver
age value of ll.3 cents per pound, giving ng
gregate value of S1l 1854 GIG, while 026, ,602 ,269
pounds exported the year previous was valued at
but 66,396 967. For the year ending 30th June
last, there exported 927 ,237 0S9 pounds, va
lued at ll2 5.3l7 averaging II IL 100 per
pound; thus exhibiting an apparent excess in the
value Of this staple alone that of the previous
year of j. &C, $3.50, ,70l.
The very deficient crop of lS49- so caused an
enhancement in the value OF cotton of nearly
double that OF the previous year, and still fur
ther advance upon the average price of the last
year, thus giving the large excess in the aggregate
value OF the exports before stated 1t must be borne
in mind, however, that these values reported are
not always the prices realized sales abroad.
They are the declared values of the exporters from
our country, against which bills Of exchange are
usually drawn-and not the prices received ac-
tuaI sales; and it ia notorious that the immense
Losses on the shipments Of cotton during the last
year have reduced the amount actually realized
by the sales in Europe very far below the official
value in the Gus ON house returns. The crop of
the present year has exceeded that OF the last and
will. from its abundance, probably restore the ag
gregate value to near the average OF previous years
ls47, were S6S,70l,92l; in lS49 $3S, ,l55, s07
and in 1851 82i ,94S, $685. which latter exceeds
the exports of 1910, when the corn laws of England
were in full force, only S2.Ssl, ,lls.
The exports Of rice for the last fiscal year,
compared with the previous year, exhibit de-
crease of S460,9l7, and that OF tobacco decrease
of S695,s3a. The products of planting and agri-
culture for the past year have been unusually large
All Europe, with Uncomfortable exceptions, has
been blessed with like abundance; and without some
unexpected disturbing causes, seriously affecting
markets abroad there s every reason 10 anticipate
still further decline in our exports for the coming
year.
Our total imports for the last year amount TO
S2l5,725,995, producing revenue of more than
forty nine millions of dollars. The balances Of
trade during that period, in addition TO the large
amounts Of the various stocks Of the country caused
export Of upwards of twenty nine millions of
specie The export of the precious metals still con-
tinucs, and ut a rapidly increasing ratio, having
amounted already, in the first five months Of the
equal to the export for the entire year ending 30th
June, 1851.
This increased ratio in the export of spccc con
tinues. notwithstanding the large supply Of for
cign exchange, prcdicated upon the shipment of
the cotton CROP which is now rapidly reaching the
seapor,s at the South, and is Of course going for
ward to the European markets in very large guam
titles. When the bulk Of this crop has been ship
ped, and the supply Of cotton bills consequently
diminished, the export demand for specie will of
course be st further increased unless there
n
portations Of foreign productions.
With abundant and plentiful harvcsts, both at
home and abroad, with a large excess IN the pro-
ducton Of cotton over that of the previous years,
and its consequent decline in value. and with no
evidences of any increased demand abroad for our
general exports the grave and difficult question of
our ability TO pay for these continued large mpor-
tatons presents itself for the consideration of Con
gress.
Should the large importation Of foreign fabrics
continue 10 increase until they drive from the
ket the like articles Of domestic manufacture, il
follows inevitable that the labor Of our people
now engaged in manufactures must be driven
mainly into planting and farming. They must with
equal certainty, produce a supcrabundance of the
latter products with no increased market for them
abroad. and a greatly diminished demand for them
II home
II this state Of things shn be realized, IL follows
hat the ability Of the people to purchase foreign
will be dcstroycd importations must
greatly diminish in amount, and the revenue at
jncc sink far below its present swollen amount. |
L should constantly be kept in view that our sys-
EN- Of revenue is not compulsory, but depends |
solely the voluntary contributions OF the people
f our citizens refuse, unable 10 purchase for
sign goods, the revenue now almost solely relied
Dn must cease, and the Government be driven to |
lircct taxation for its annual support and the ul
innate liquidation Of large public debt.
From these considerations arises the great duty |
If Congress so to regulate foreign commerce, II |
possible, as to cherish that labor at home, the !
proceeds Of which sole reliance for the rev
,nues indispensable to the wants of the Govern.
ncnt.
] respectfully refer to the suggestions this |
subject in my report to the last session Of Congress
II experience of the last year has developed no
acts which induce me To question the propricty of
he changes in the present tariff laws which then
unlimited to Congress- on the contrary, informa. |
ion derived from the most reliable sources has |
what then anticipated. Much of |
he cotton formerly wrought into fabrcs by |
he labor of our citizens now goes abroad, and re-
urns TO us for sale in form vastly augmented in |
'alue md TO that extent the labor Of our citi.
.cns has been diminished in value and driven into |
'tber pursuts.
The history Of iron manufacture for the last |
cw years furnishes an instructive lesson TO the |
tatesmcn of this country. This article enters
nto such general in every occupation OF
ife in all countries advanced beyond the first step
4 civilization, that il may ~ell take rank amongst |
he nocessarics OF life in this country.
The importatons of bar and pig iron for the year |
ending 3Oth September, 1912,
l00,055 tons
The estimated production in tho
United States for that period was 230,O1
Making an aggregate consumption
of 330,O56
" tO3 pounds per head -
u lSib, the importatiODs were 60 625