The national era. [volume] (Washington [D.C.]) 1847-1860, 1852-01-15
ABSTRACT OF THE REPORT OF THE sECRE-
TARY OF THE TREASURY.

the estimates for the year to June 80, 1882
which have been before noted. A table Il
given, showing the increased expenditures
LIS, 549, 080.12) on account of our new terrific
rial possessions. Add for the ordinary expen'
ses of the Government, as per estimates
$42, s92, 29919 Us the total estimated demands
upon the Treasury for the next fiscal year
leaving (the report says an estimated balance
in the Treasury, on the LIST of July, 1853 Of
20,366, 4439O. This sum, it is believed, will
BIO ample to meet the amount required on that
day for the redemption of the loan of l843
then due, of 81, 237, 93l 35, and such additional
appropriations beyond the estimates submitted
as may be made during the present and next
sessions of Congress.
The table of the public debt as published in
the Era last week, is then given, and the pith
of the report, including important recommend
atoms by MIR. Corwin on the subject of the
tariff, the iron interests, &C., succeeds, as fol-
lows:
WAYS AND MEANS.
The receipts from customs for the last fiscal
year, as before stated, were upwards of forty
nine millions Of dollars Should our importa-
tons of foreign merchandise for the current
and next fiscal years equal those Of tho past
year, the revenue from that source for the three
years ending 3Oth June, 1853, will have been
about Sl50,000,OOO. Aside from demands upon
the Treasury for our new territories, this sum
would have been sufficient to have met the or
binary expenses Of the Government, and to
have lquidated the entire public debt. Not
withstanding those extraordinary demands,
there has been effected, since the first of De-
cember last redemption of the registered
debt to the extent of 81 ,667, S43II During
I the next fiscal year, the loan Of Sd March, l843
due LIST July, 1853, must be provided for, and
/ it is expected may be paid in cash out of the
receipts from the usual sources of revenue
! The amounts of the land fund to be invested
in accordance with law will probably amount
| to about S925,OO0. The old funded and un.
! funded debt With TIA annual PAYMENTS an ae.
4S.4.'i ~ - -f'si 80 - s,..,s w. 'ys4-S. i,
/ probably amount 10 further sum of ST.. 500
making an aggregate proposed redemption Of
the public debt during the next fiscal year OF
| S7,234, 1926.
The premiums paid on S2,523, 200 Of certif-
Gates of Government stock purchased at market
rates amounted to S325, 65524, or at cost of
more than one-eighth of the entire debt pur-
chased. These rates if applied to the whole
debt as it stood on the Goth November last,
would require for its liquidation, in addition TO
that amount, about the sum of $8,O743l8.57.
| The probability is that increased rates will
follow known demand by the Government
The unexpected addition to the boundaries
OF our country, covering an area of more than
! five hundreV and twenty-six thousand square
miles has without doubt been one cause of the
large and sudden increase of our foreign i'm
portations and consequent increased receipts
from custom duties Our expenses consequent
upon such acquisition have more than kept
pace with the increase of receipts, and they
will remain permanent charges upon the
Treasury. Revenue to meet these required
expenditures must be provided for, and that
during period when our public debt is ma
turing. Ii cannot for one moment be thought
advisable to presuppose renewal of any por-
ton of such debt and therefore it should be
our aim to obtain revenue sufficient TO meet
these maturing liabilities, in addition to the an
nual expenses of the Government
The receipts from all sources for the last fiscal
The appropriations to 51,42S,41446
Being an excess of receipts of SS4,565.41
The estimated aggregate receipts for the
current fiscal year are placed at $5l 500 900.
The expenditures, as estimated and appropri-
ated, amount to 800, 952 ,9O2.3 So being an ex-
cess of estimated receipts over estimated ex-
penditures of S547, O97.4l.
Tho racaipta Cor ha paxf facal vaor N IN aa
tmated at $5l 100000, the expenditures at
S42, s92, 299. 49, being an excess Of receipts over
expenditures of $89O7, 7OOSl Making an
aggregate estimated excess of receipts over ex-
penditures for the three years ending both
June, 1883, of SlO,339, 303.63 subject how
ever to reduction to the extent Of any appro-
priations which may be made for this or the
next fiscal years, additional to the estimates
submitted.
The gross exports for the last fiscal year
amounted to $2l7,517,130; ofwhich there was
of specie 500 23l $50, and of foreign merchandise
rc-exported 50, 1859 leaving as theexports Of
domestic productions, the sum of SITS, SAG, 555.
This presents q large increase upon like exports
of any previous year, and exceeds that OF the
last fiscal year in the sum of S43646,322. |
regret that this increase is merely of an acct
dental nature, and likely to be confined to the
year just past.
For the year ending 30th June, 1850, there
were exported 635 1881 GOA pounds of cotton, at
an average value of ll.3 cents per pound, Civ
ing an aggregate value Of ST., 9s4,6l6, while
i,026 500, 269 pounds exported the year pre-
yious was valued at $50, 396967 For the year
ending 30th June last there were exported
927, 237, 0s9 pounds, valued at Sll2,3l53l7,
averaging l21l cents per pound thus exhibit
ing an apparent excess in the value of this
staple alone over that of the previous year, of
S40.33O.7Ol.
The very deficient crop of ls49-'5O caused
an enhancement in the value of cotton of nearly
double that of the previous year, and @ still
further 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 rs reported are not always the prices
realized on sales abroad. They are the de-
clared values of the exporters from our country,
against which bills of exchange are usually
drawn, and not the prices received ON actual
sales and it is 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 custom-h house returns.
The crop of the present year has exceeded
that Of the last and will, from its abundance,
probably restore the aggregate value to near
the average of previous years.
The exports Of breadstuffs and provisions,
in lsl7 were S6s 70l 1921 in ls49, $3s, SIS, 507
and in 1851, S2l ,94S,653, which latter exceeds
the exports of IS4O when the corn laws of
England were in full force, only s2,ssl,llS
The exports of rice for the last fiscal year
as compared with the previous year, exhibit a
decrease of S46O,9i7, and that of tobacco de.
crease of $695,s34. The products of planting
and agriculture for the past year have been
unusually large All Europe, with inconsid'
cradle exceptions has been blessed with like