The daily union. [volume] (Washington [D.C.]) 1845-1857, 1852-01-07

Should Congress appropriate TO meet the ordinary
wants OF the government and 10 cover the expenditures
required by Territories submitted by this de-
parment the balance at the close OF the hsea end
ing 30h June 1885, will be than sufficient 10 meet
the amount required the first OF July following Tor the
redemption oil the public debt due on that day.
The question presents itself in view OF the absolute
necessity Tor continuance OF the present receipts from
customs whether in all the branches OF the industry OF
country there is that healthy and vigorous action
which Is the basis OF substantial and lasting prosperity
Without this we can with no certainty presume upon any
fixed amount OF continuous receipts
The gross exports Gable O. for the last fiscal year
amounted to $2l75l7l l30 OF 0hich there OF specie
S29 23l $780, and OF foreign merchandise re.exported
$9,7 695leavng, the exports OF domestic produc-
uons, the sum OF $l7s,5l8,555 This presents large
increase upon like exports OF any previous year. and ex-
ceeds that OF the last fiscal year the OF 43 322
regret that this increase is merely of accidental ma
ture, and likely TO be coafned 10 the year just past
BY reference to table II, will be seen that, for the
year ending the 3Oih June, 1850, there exported
635 60l pounds oil cotton, AT average value OF Ills
cents per pound, giving an aggregate value OF S7l,9Sa
ele. while 269 pounds exported the year previous
valued at but $3.50, 1876 967 For the year ending
3oh June last there were exported 927237 0S9 pounds
valued at $ll23l5 3l7 averaging l2 lll00 cents per
pound; thus exhibiting an apparent excess IN The value
OF this staple alone over that OF the previous year oi
$40 $3.50, 0,70l
The very deficient crop of s49-5o caused enhance
in the value of cotton of nearly double that OF the
previous year, and still further advance upon the ave
price OF the last year. thus giving the large excess IN
the aggregate value OF The exports before stated must
not always the prices realized sales abroad They
the declared values OF the exporters from country
against which bills OF exchange usually drawn, and
not the prices received actual sales and is notorious
that the immense losses the shipments OF cotton during
the last year have reduced the actually realized
by the sales in Europe very far below the official value in
the custom house returns The crop OF the present year
has exceeded that OF the last, and will from its abund
ance probably restore the aggregate value to near the
average OF previous years.
The exports of breadstus and provisions in s47 were
SOS, ,70l e2l in ls49 $3S, ,l55 ,507 and in 1851, $2l
653, which latter exceeds the exports OF 1910, when
the corn laws OF England were in full force, only $2
ss4,llS
The exports of rice for the last fiscal year. as compared
with the previous year. exhibit decrease OF S46O,9l7,
and those OF tobacco decrease OF $685. s34 The products
OF planting and agriculture Tor the past year have been
unusually large. All Europe, with nconsiderabe excep
tions has been blessed with like abundance; and without
unexpected disturbing causes, seriously affecting
markets abroad, there is every to anticipate still
further decline in exports for the coming year.
Our total imports for the last year amount TO 2l5725
1885, producing OF more than forty nine millions
oil dollars The balances OF trade during that PERIOD
addition TO the large amounts OF the various stocks OF the
country, caused an export OF upwards OF twenty-nne
millions OF specie. The export OF the precious metals
still continues, and at rapidly increasing rato having
amounted already in the first five months OF the current
fiscal year, $27 594 236, which is nearly equal the
| export for the entire year ending 30th June, 1851.
This increased ratio IN the export OF specie continues
notw outstanding the large supply OF foreign exchange,
predcaed upon the shipment OF the cotton crop, which is
now rapidly reaching the seapos at the South and is OF
course going forward 10 the European markets in very
large quantities. When the bulk OF this crop has been
shipped, and the supply OF cotton bills consequ d
mnished, the export demand for specie will of
be still further increased unless there should be very
large falling OFT IN. the heavy mporaiions of foreign
productions.
With abundant and plentiful harvests both at home
and abroad with large excess in the production OF cot
that oil the previous years, and its
decline in value and with evidences of any increased
demand abroad for general exports, the grave and
difficult question OF our ability pay for these continued
large impoftauons presents Itself or the consideration OF
Congress.
Should the large importation OF foreign fabrics con-
time 10 increase until they drive from the market the
like articles OF domestic manufacture, 1t follows in
evltable that the labor of people engaged in
manu- iacures must be driven mainly into planning and
farming. They must with equal certainty produce a
superabundance of the latter products with increased
market for them abroad and greatly diminished de-
mand for them al home
II this state OF things shall be realized il follows that
the ability OF the people 10 purchase foreign commodities
will be destroyed mportations must greatly diminish in
and the at sink Tar below It's pres
ent swollen amount. II should constantly be kept in
that system oil revenue IS not compulsory, but
depends solely the voluntary contributions of the peo
Pile II citiZens refuse unable 10 purchase
foreign goods The revenue now almost solely relied on
cease, and the government be driven to direct tax
alton for its annual support and the ultimate liquidation
OF large public debt
From these considerations arises the great duty OF Con-
gress 10 regulate foreign commerce, II possible TO
cherish that labor al hone, the proceeds OF which
sole reliance for the indispensable 10 the
wants OF the government
respectiuy refer 10 the suggestions on this subject
in my report the last session OF Congress. The
perence OF the last year has developed facts which
induce TO question the propney OF the changes in
the present tanh laws which then submitted 10 Con-
gtess the contrary, information derived from the
most reliable sources has confirmed what was then
tcipated. Much OF the cotton formerly wrought
into fabrics by the labor OF cgens goes abroad
and TO for sale in form vastly augmented IN
value, and 10 that extent the labor OF citizens
has been diminished in value and driven into other pur-
suits
The history OF iron manufacture for the last few years
furnishes instructive lesson TO the statesmen OF this
country This article enters into such general in
every occupation OF life in all countries advanced be
yond the first step OF civilization, that it may well take
rank amongst the nesessares Of life IN this country
The mpouaons of bar and pig iron for the year ending
3Oth September, 1912, were l00,055 tons
The estimated production IN the United
States for that period was 100000
Making an aggregate consumption Of 330 .055
Or 40i pounds per head.
In 1896 the mportations were 69,625
And the production estimated al 10000
Consumption s3l,625
Or ~ pounds per head
In ls4s the imporations were l53,377
And The production 100000 "
Consumption 953,377
Or 99l pounds per head.
Ia 1919, the mpoTtalions were 2S9,6S7
The production 650,oo0