The daily union. [volume] (Washington [D.C.]) 1845-1857, 1853-04-15

We have frequently been surprised at The very ex.
and aniounded assertions which many OF the
ne who committed TO the hg tariff policy
are in the habit OF making in regard TO the foreign
trade OF the United States Oar readers will remember
the reservations repeated IN the columas OF
those papers from week 10 week through the whole
of The fiscal year Is505l, 10 the effect that the
try was on the high road TO rum, and that the im.
ports exceeded the exports by at least *oo,oOoo00
So impressed that party with THIS idea, and so
constantly was il reiterated, that the Secretary OF The
Treasury, considering II fact well established. based
the argument OF his report Chen IN course o
upon and only waited for the ocla returns 10 connfm
bis assumption. aHd show TO The world the Tainous
effect OF anti. high-arf policy Al last the custom
house statistics received but instead OF nifty mi0ns
excess imports exports. they showed an excess OF
two millions OF exports imports, thus placing the boot
on the other leg The Secretary wiped his gasscs and
stared at the document IL II had been death arFant
Al length he mustered courage enough 10 examine the
Items. aad finding the reported exports VI cotton uOusua
" large he became satisfied that there mistake.
and keeping back his report from Congress- he sen. de-
spatches 10 The collectors at this port and New Oeans
calling upon them to rectify the error fresh c0mpu
talon was made, but no discovered, aud the
Secretary finally guped down his glowing
ences and instead OF the thunder he had Manufactured
out OF the windy assertions OF his supporters, gave
pop-gun explosion, which scarcely smelt Of powder.
This failure served as quietus for time TO the
species OF defamation which had so imposed upoa the
Secretary and the public and the big tariff organs,
finding thai the country would not be panic struck At
their cry Of ruin, gave their lungs holiday, hoping for
better materials for their trade Of the for the
year lS552. The year has passed. and still their pre-
dictons not verified The imports have exceeded the
exports only about three millions OF dollars Something
must be done. their hold upon the public creduy is
altogether lost. And now the experiment is renewed
Mr.. Brodhead has presented TO the Senate q most
markabe statement. by which the fifty million he0Ty 10
thrown quite into the shade He adds to the cuslom-
house return of imports 10 per cent which he saysthsy
and then increases the total five millions dollars more
for smuggied goods. making the account, according
| the National lnlelgencer, read thus: GsT&
| Custom. house value Of imports $2O7, l09 7a9
| Under valuation 10 per cent 80 = 20,7i0,S73
Value of smuggsd goods 49, 5000 OOO
Total OF foreign merchandise imported $xs2 7i2
1t is such an exhibit this which the lntsllgencer
charactsIzes interesting and valuable statistics !"
Let examine it little. II will be seen that he in
cudes the total imports exclusive OF Specie and thus he
has added 10 per cent to the FREE goods well the
dut0ble, although there preence that the former
are under-valued ITO avoid the payment of duties
This will make difference, even according 10 bis own
principles OF calculation. Of But, again. be in
cudes also the foreign goods reshpped Now the LAT,
ter will count the the exports in the imports
since they shipped under the system of valua
tion the under valuation the is Offset against
the other Amending the calculation these tems there
| fore. we have the following result sieg n
Custom. house value ofimports s17.loo, 7ss
Deduct free goods other than specie "a, l67 $50
| laa 1ta lsA0al $40
| Deduct duabe goods re -expoued 9.605, 7O3
Leave. ne, dutiable imports -si7s. s2s. las
Add 10 per cent on Bodhsad's theory : ~ ,332 sl4
4 Add free goods ZIU wv
| Add exports v.o&o, 1Oa