Staunton spectator. [volume] (Staunton, Va.) 1849-1896, 1852-01-14
52,3l2,979 81
6,604,544 40
Leaving balance in the Treasury
July |, 1851, Of
$l0,9ll,6456 60

The resources for the fiscal year ending jun
80. 1852, including balance on hand, are estimated
al $62,4l1 ,645, ana the expenditures at $50, 1852,
902. The resources Tor The fiscal year ending
June 30, 1853, are estimated at $69, 25S, 743, anc
the expenditures at $42 $780,. 299-leaving an est
mated balance in the Treasury, on the LIST of July
1858, of SIC, 366,443. This surplus will be am
pie 10 pay the debt due July |, 1853.
Mr.. Cerwn states the public debt to be $62.
SIC, S95-showng reduction Of more than ST.,
100000 during the year.
The gross exports for the fiscal year ending 30th
June last, were $2l7 .5l7,I30. Of these $l76,.
SAG sos were of domestic productions being an ex.
cess of $43, 646,322 over the preceding year. This
excess, the Secretary thinks, is due To temporary
causes. Of the gross exports $29, 29l $50 were in
specie, and $97SS sos in foreign goods re-expcrt,
ed. The principal cause which produces The ex-
cess of expectation during the last over that Of the
preceding fiscal year, was the shortness of the cot
ton crop Of lS49 SO, which will be neutralized by
the full crep of the present year, so as 10 reduce
the exports TO their former value. The exports of
breadsluffs. which, in lS47, were $68,70l 1921 /,
were, in 1851, only $2l Gas, 653. This latter a
mount exceeds the expectation of 1910, when the
British Corn Laws were in full force, by only 81
sSl ,ll8. The total amount of spe,ie exported
during the first FIVE months of the present fiscal
year, was $27 1914 ,236, whereas,as has been SEEM
the expectation for the whole preceding year was
only S29, 23l $780, The increased ratio continues.
and it is supposed that it will be still farther aug
menled, unless there be very great reduction in
the importation of foreign products.
A modification of the tariff is recommended, and
the transactions Of last year referred TO as proof
of its necessity. The Secretary dwells al consid-
cradle length upon the iron interest, and insists
that persistence in the present system must pro.
duce its utter destruction.
From the tables of Mr.. Corwn it appears that
during tho operation If the tariff Of 1912, that is
from 1912 10 1916, the domestic production of iron
increased from $780, 600 tons to 765 900 tons, while
the importaiioDs ofthe article diminished, reaching
the low point of 60,625 lons Since the tariff of
1916 has been in operation the domestic productions
instead of increasing with our increasing pOpula-
ton, has fallen to 4l3, 900 tons-being upwards Of
100000 tons less than the domestic production Of
1886 The imporiations of foreign iron have increas
ed since 1912 from SO, CPS TINS to BAL $50 tons.
But the remarkable fact is shown that the aggre-
gate both of domestic and foreign iron consumed in
this country is actually less than it was in H.
46, when the present tariff went into existence
Iron may be cheaper now than it was then you
may get more for your sixpence. but may find it
more difficult 70 get the sixpence.
The Secretary recommends the adoption Of the
British p,licy with regard to silver. He would
have it legal tender for no SUN exceeding ten
dollars. The argument of the Secretary upon this
subject is quite long, and very lucid. The produce
lion of gold in California. he says, Gin this connec-
tim } is equal to from s75,0OO,00O to 100000
900 per annun,, and information in the possession
of the Department, justifes The belief that it will
continue TO be thus great for many years yet to
cnme