Washington sentinel., 1853-12-10

4
tngency which may require all its energies and
resources.
The estimated receipts of the second, third,
and fourth quarters of the present fiscal year
have been predicated on the present high price
OF the great staples, on good foreign demand
for our surplus, and on large duty-paying i'm
portations computed in view of the large stock
of importations on hand and the stringency in
the money market, both here and in England,
and the effect of the short crop there.
The estimated receipts for the fiscal year
1854 do not reach the actual receipts of the is
cal year 1853, although the first quarter Of
1854 exceeds the corresponding quarter of the
year 1853, by $5,025.297 20.
The estimated receipts for the fiscal year
ending June 30, 1856, have not the results of
the first quarter to verify them, nor the unques-
toned data of good crops and high prices but
the estimate rests upon an average of preced-
ing years. with an estimated increase proper
tionate to an increasing population and ca
pacity to purchase and pay, calculated without
regard to the chances of war, short crops, com
mercial embarrassment, or reduction of the
tariff.
The imports of the fiscal year 1853, includ-
ing specie, have been $267, CAT, and the
exports have beem $3.50, ,452,250. A fair esti-
mate for profits on our exports and the freight
of our vessels would cast the balance of this
account in our favor, without estimating the
money brought in by emigrants, of which no
account is taken. 1t is believed that a large
stock of imported merchandise remains in the
hands of the merchants, and for that reason,
and because of the stringency in the money
market, both here and in England, it is calcu-
lated that there will be, during the remaining
three quarters of the year, diminished i'm
portation, compared with that of the first
quarter.
The estimate for the fiscal year 1855 has not
been made to exceed that of 1853 for the rea-
son that it is believed that the causes of dimin-
ished importations during the latter part Of the
fiscal year 1854 will be extended into a part of
the succeeding fiscal year, and because the ag-
itation of q reduction of the tariff win have
tendency to prevent importations beyond the
actual demand for consumption.
Most articles of manufactured merchandise
like the annual productions Of agriculture, are
necessarily consumed within the year. and again
restored by productive industry for the succeed
ing year; and, with population able to pay,
there is great uniformity in the annual amount
Of imports and exports. There are often causes,
however, which prevent regular and progress
sve increase such rs short crops, low prices
for exports, either at home or abroad, without
the disturbing influence of war. Still, it is be-
lieved that the receipts Of the fiscal year 1855,
will be sufficient to meet the expenditures of
the year and a reasonable purchase ofthe public
debt, and justify reduction of the duties by
adding to the free list and reducing the tax
upon many other articles of importation.
The table II, accompanying this report, ex-
hibits the foreign articles imported free of duty,
and their value, for the six years from lS4S to
nd alc he e. Il
ported paying duty, with their value and rate
of duty, for the same time.
The table l. accompanying this report, ex-
hibits separate list of the foreign articles
which it is hereby proposed shall be added to
the free list for the purpose of reducing the
revenue. The revenue collected from the arti-
cles in table ], for the last year, is about
$S,000,000; in which amount, it may be com
puted, the revenue will be reduced, by the adop-
ton of the proposed additional free list.
This viii leave the revenue larger than a
proper and economical administration of the
government will require; and for the purpose
of further reduction, it is now proposed to ar.
range the articles paying duty in two classes
the one class contained in the table X, accom-
panying this report, to pay what may be con-
sidered the high duty Of 100 per cent, and the
other class to pay the moderate duty Of 25 per
in the free list nor in the table X Of high duties
This equalization will reduce the revenue about
$4,500,000. This still leaves the revenue com
puted upon the imports of 1853 at about
$45, 100000 from customs below which point
it is not proposed to reduce the duties until the
public debt is paid. The change now proposed
in the rate of duty is designed to take effect from
and after the lst of January, 1855.
The effect of making the duties 25 per cent.
on all articles imported, not included in the
free and higher lists will be to give greatly less
trouble in the collection of the revenue, and to
raise the duties on some articles, and reduce
them on others. When the duties are raised,
the change may act in restraint of importa
tions, and when reduced, in their favor; and
the one result, to some extent, will counteract
the other. The proposed reduction, had it
been applied during the last year, would leave
an abundant revenue for all the reasonable
wants of the government in time of peace and
allow the proper addition to the army and navy
to meet the exigencies of an augmenting popu-
lation and an increasing commerce, and leave
the receipts from the sale Of public lands to be
applied to the purchase of the public debt, to
which these proceeds are pledged by law.
1t is not proposed to enter into any extended
argument to prove that the articles in table
should be added to the free list, nor to prove
the propriety of the proposed reduction of du-
ties to the uniform standard Of 25 per cent
When revenue is not needed, articles of general
use for manufacturing and other purposes, not
the growth or production of the United States,
or but partially so, should not be taxed and
no higher taxes should be levied on other i'm
portations than may be necessary for the eco
nomical wants of the government, thus leaving
commerce as free and unrestricted as possible
Let the tariff be reduced as Congress, in view
of the present wants of the government shall
deem best the increasing population, produc
ton, industry, and enterprise of the nation will
still necessarily add to the importations, and
consequently to the revenue, what shall be
needed for increased expenses,
The tables accompanying this report exhibit
the free lists of England, France, Belgium,
Portugal, Brazil, Austria, Spain, Russia, Cuba,
the Zol.Verein, Chill, Netherlands, Hanse
Towns, Norway, Mexico, and Sweden, and
mark the progress of free trade among COM
mercial nations. Unrestricted commerce, bind
ing the nations of the earth in stronger bonds