Richmond daily times. [volume] (Richmond [Va.]) 1850-1853, 1852-01-09

period 10 sJdiiin 10 is larss sa,spa, ii ,hs yssIaa-
ssoeks a ne country 6aasad "a skeoE OF upwards Of
twsntp nine millions of speeds. The export Of the
ecious metals sill! continues. and al a rapidly in
creasng ratio having amounted already, in the first
five months OF the current fiscal year, 10 S27 So 1885,
winch nearly equal to the export for the entire year
ending Seth June, 1851.
This increased ratio in the export oil specie cont.
nues notwhs anding the large supply OF foreign ex-
Change, pedlea'ed upon the shipment OF the cotton
CROP which is now rapidly reaching the sea ports at
the South and is OF course going forward TO The Euro
pean markets in very large quantities. When the
bulk OF this crop has been shipped and the supply OF
cotton mills consequently diminished the export de.
hand Tor specie VIII ofcouTse be still further increased
unless there should be very large falling off in the
| heavy imponations fforeign productions.
With abundant and plentiful harvests both at home
and abroad with large excess in the production of
cotton over that of the previous years, and its
queni decline in value, and with evidence of any
increased demand abroad for general exports, the
grave and difficult question Of ability pay for
these continued large importaons presents itself for
the consideration Of Congress
Should the large importation of foreign fabrics con
nue to increase until they drive from the market the
ike articles OF domestic manufacture, it follows
evltabe that the labor of our people engaged in
manufactures be driven mainly into planting and
farming. They must, with equal certainty, produce a
supeiabundance OF he latter products with no in
creased market for them abroad and greatly dimin-
lshed demand for them al home.
Ii this state of things shall be realized it follows
that the ability OF the people to purchase foreign
modlties will be destroyed; importaons must great
y diminish in amount. and the revenue at once sink
Tar below its present swollen amount. 1t should con-
stany be kept view that our system of revenue is
not compulsory. but depends solely on the voluntary
contributions OF the pnoFe. If our citizens refuse, or
are unable TO purchase foreign goods, The revenue
now almost solely relied on must cease, and the Go
yeTnment BE- driven to direct taxation for its annual
support, and the ultimate liquidation Of large Iubc
debt
From these considerations the great duty of
Congress SO as 10 regulate foreign commerce. il posi-
be, 10 cherish that labor at hone, the proceeds of
which are our sole reliance for the ndispen
sable TO the wants of the Government.
respectfully refer to the sogge tons on this sub
ect IN my report to the last session oil Congress- The
expeHenae OF the last year has developed no facts
which Indnce me to question the proprieiy of the
changes IN the present tariff laws which | then sub
united to Congress; the contrary, information de-
rlved from the most reliable sources has confirmed
what was then an lpated. Mach of the raw cotton
formerly wrought into fabrics by the labor of ci-
tH9ns now goes abroad, and returns to for sale in
form vastly augmented in value, and to that extent
the labor ct our own citizens has'been diminished in
vdl1e and driven inc other pursuits.
The history ut IRON manufacture for the last few
years furnish instructive lesson TO the statesmen of
this country. This article into such general use
in every Occupation OF life in all countries advanced
beyond the first step of civilization, that il may well
take rank amongst the necessaries of life this eouu
nv
The innovations of bar and pig iron for the year end
Jag 3oth September, 1872 were. 100 055 tons
The estimated production 10 the United
States for that period was 800 700 "
Making an aggregate consumption Of. $40 655 "
400 pounds per head.
In 1886, the lmportations were .......... 50 625
and the production estimated al. .765 0C0 &c
Consumption. .............,.33 4 625 /"
or 81 lbs FER head.
In 1913, the imporations 1873 377
and the production 800 600 ="
Consumption. .953, 377 ."
or 992 lbs. per head.
In 1919, he Expectations were. 299 6S7 &c
the production. ACKNOWLEDGEMENTS $50, 900 "
CONSUMPTION. .939,6S7 &c
or $50 lbs. pei head.
In 1850, the imForlaIons were 337, 5s2
,lne PfoJuetof.. 651 600 "
CONSUMPTION. -. ........."...... sol ,532
or S65 lbs per head.
In l55i, The 1mportations wera ..........34,7 $50
the produeuon... NEUTRALITY-SUSPICIOUS.. Alb 900 I"
or 69s lbs. per head