Martinsburg gazette. [volume] (Martinsburg, Va. [W. Va.]) 1833-1855, 1852-01-27

I
amidst what perils, good God. was my child
destined to see tie light
-~--~.<Asss<.s<<.>-------
Extracts from the Reports Of the Secretary OF
ts.c Treasury.
The question presents ITSELF IN view Of
the absolute necessity for a continuance oi
the present receipts from customs, whether
in all the branches Of the industry Of our
ccuntry there is that healthy and vigcreus
action which Is the basis Of substantial and
lasting prosperity. Without this we can
with no certainty presume upon any fixed
amour. Of continuous receipts
The gross exports (tat!e G, ,l Tie last
fiscal year amounted to SILT u ,lS0 Of
which there was Of specie 3, 23l $50, and
Of forciga Merchandise re exported $a.73s,
695, leaving as the exports Of domestic pro
daction, the sum of $l7s,5as.555. This
! presents large Increase upon Ike exports of
any previous year, and exceeds flat Of the last
| fiscal year in the sum of 24s &C, 3a2 |
regret that this Increase Is merely Of an ac-.
cidontal nature. ard likely to be confiacd to
the year just past.
The exports Of hreadstufs and provisions,
in 1871, were $6s. 701. 92l;in 1870, s3s,-
| 49,, 5oT; and in 1851, $2l 94s G53, Which
latter exceeds tie exports Of is49, wien the
corn laws Of England were ia full force, on
Ily $2.oS1, 1S9.
Our total imports for the last year amount
to $e16,T25,995, 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 40 export Of
| twenty ninc millions Of specie The export
Of the precious metals still continues, and 1t
a rapidly increasing ratio. having amounted
already, il tie first Eve months II the cur
rent fiscal year, TO 1927 ,594, 236, Which Is near
| II equal to tie export for the entire year,
ending 30th june, 1851
This increased ratio in tie expert Of spe-
Gle continues notwithstanding the large sup
ply Of foreign exchange, prcdicated upon the
shipment OF the cotton crop. which is now
rapidly reaching tic seaports at the South,
and is Of course going forward to The Euro-
pean market in very large quantities. When
the bulk Of this crop has been shipped, and
the supply Of cotton bills consequently di.
diminished, the export demand for specie
will of course be still further increased, IN
less there should be vcry large falling off
in the heavy importations of foreign produc
ti9ns.
With abundant and plentiful baryesss.
both at home aud abroad; With a large ex
cess 10 the production of cotton over that Of
the previous years. and ia consequent in val.
ue, aud with no eyiGenees OF any increased
I demand abroad for our general exports, the
! grave aud difficult question Of our ability to
pay for these continued large importations
presents itself for the consideration OF Con-
gress.
Should the large importation Of foreign
fabrics continue to Increase uatil they drive
from the market tie like articles Of domestic
manufacture, it follows as inevitable that the
labor OF our people now engaged in manufae
lures must be driven mainly into planting
and farming, They must with equal GER
tainty, produce q supcrabundanee Of the lat
err products with no increased market for them
abroad. and greatly diminished demand for
them at home
Efthis state Of things shall be realized, it
follows that The ability Of the people 10 pur-
chase foreign commodities Will be destroyed;
importations must greatly diminish in ano1nt,
aud the revenue at once sink for below its
present swollen amount 1t should constant
y be kept In view that our system Of reye.
nue. is not compulsory. but depends solely On
tbe voluntary contributions Of the peeple.--
If our citizens refuse, or are unable to par
chase foreign goods, the revenue now almost
solely relied on must cease. and the Govern
ment be driven to direct taxation far It's an
nual support, and the ultimate liquidation Of
d large public debt.
From these considerations arises lhe great
duty OF Congress so to regalate foreign com
mercc. il possible, as 10 cherish that labor
at home, toe proceeds ofwhich are sold re-
lance for The revenues Indispensable 10 the
wants Of the Government.
respectfully refer to the suggestions Oh