Richmond daily Whig. [volume] (Richmond, Va.) 1842-1861, 1853-12-10

Soth, 1858 OF es,el7.ssT Z
The balance in the treasury the s0h Of September
with the estimated receipt, for the q. 3D. and ah ousr
tiers OF the present fiscal year. being lar in exces.
the estimated expenditures for the tmc will ius
the further application Of To the purchase
the debt and leave sufficient surpu. in the treasury fo
any practical purpose The purchase OF the debt has
therefore been continued and 81 Ie5 ~ expended ia
the purchase during the 9ud quarter Of the year IL Is
sdercd that the prosperous condition
ury growing of the great prosperity ol all the inds
trial pursuits OF the country affords opportunity to ap
ply the surplus TO the discharge oil the public debt, and
that should not be len embarss the operation Of the
government in any future contingency which may require
all Its energies and
The estimated receipts OF the second third and fou rth
quarters ofthe present fiscal have predicted on
the high price Of the great staples good
cign demand for surplus and large duty i'm
portations computed in view of the large stock of i'm
portatons hand and the s,rngcncy Of money
ke both here and in England, and the effect OF the short
| crop there.
The imports Of the fiscal wear 1883 inclJiny s,sc;
have been seG7 ca and the exports have been $3.50
$3.50 fair estimate for profits on our exports and
the freight of vessels would the balance of this
account in favor, without estimating the money
brought in BY emigants, of which is taken Ii
is believed that large stock OF imported re-
mains in the hands OF the merchants and for
aud because of the strngency in the money
here and in England il Is calculated that there will be
during the remaining three quarters Of the year. a dnn
ished Importation compared with that of the fret quarter
The table l. accompanying this report exhibits sepa-
rate list of the foreign articles which is hereby proposed
shall be added 10 the free list for the purpose reducing
the The revennp collected from the article, in
table for the last year. is about 900 600 in which
amount, it may be computed the will be reduced
by the adoption Of the proposed additional free list
THIS will leave the revenue larger than a proper and
economical administration OF the government will require
and Tor the purpose OF further reduction il now pre-
posed TO arrange the articles paying duty in classes
the class contained in the table X this
he fha oh Antv #
loo cent and the other class pay the moderate du
~ OF IS cent and 10 include all imported articles
III the free list, in the table of high duties This
equalization will reduce the revenue about 81 500 OOO-
This still leaves the computed upon the imports
Of 1858 at about Sb 900 from customs; below which
point it is proposed reduce the duties until the pub
lie debt Is paid The change proposed in the OF
duty is designed to take effect from and after the LIST
January, 1885
The effect Of making the duties % per cent on all ar
cles imported not included in the free and higher lists
will be TO give greatly less trouble in the collection Of the
revenue and raise the duties articles aud re
duce them others. When the duties are raised the
change may in restraint OF Importation and when re-
duced 10 their favor and the result extent
will counterfeit the other The proposed reduction had
been applied during the last year, would leave album
dant for all the reasonable the govern
mcnt IN time OF peace and allow the proper addition to
the army aud navy the eyigencies of an augment
ing population and increasing commerce and leave the
receipts from the sale of public lands applied to the
purchase OF the public debt which these proceeds are
pledged by law.
prove that the articles in table should he added TO tue
free list TO prove the rrOprietT OF the proposed
pncton Of duties the uniform standard OF per cent
When is not needed articles Of general pro.
ducIon of the United States but partially So should
not be taxed; and higher should be levied Oh
other mportatons than may be necessary for the
mica wants of the government, thus leaving commerce
free and unrestricted possible. Let the tariff be
duced Congress in view OF the present wants of the
government, shall deem best the increasing population.
production industry and enterprise of the nation will still
necessarily adj to the importlons and consequently to
the revenue what shall be needed for increased expenses
The tables accompanying this report exhibit tie free
lists of England France, Belgium Portugal Brazil Aus
tra Spain, Russia, Cuba, the IO Veren, Chilli Neither
lands, iIause Towns, Norway, Mexico aud Sweden and
mark the progress Of free trade among commercial nations
Cnestraned commerce, binding the nations Of the earth
in stronger bonds of peace by mutual benefits has nune
and increasing advocates in this and other CONNER
cal countries The principle Of fee trade may yet be
sufficiently verified from experience in this aud other
tons, to Justify its full adoption, but the progress towards
free trade proposed, will be justified il is believed by
both public opinion and public interest IL is considered
that the taking or the duty the material used in
manufactures will couneTact the reduction of duties
foreign manufactures, aud when compared with the
operations OF the present tan, will not materially affect
the interest Of domestic industry commerce.
Ii not proposed 10 change the principle OF ad yaorem
duties but it is for the consideration Of Congress- whether
specific duty iron, made from the average Of the last
three or four years al yaOrem duties might not give
greater stability the iron business and satisfaction
TO consumers and at the time prove equally bene.
fetal TO the
annual from that article for the five years to the
sOth June 1885, il only s2S2, psf while the annual fab
ing bouues exclusive Of the drawback on picked fish,
for Which the salt duty s preext amount 10 $685. Il3
besides other heavy annual expenses 10 prevent frauds
Export upon the subject of the fishing bounties igom
Ross Browne with is References ia herewith submitted
For the reasons stated in that report il is recommended
that the fishing bounty be repealed aud that branch OF
industry be LEFT the fair competition which causes other
maritime enterprises to flourish.
The table Of imports and exports for the 6.ca year end
ing goth June, 1885, accompanying hi, report and here
toOre mentioned compares ivoraby with those Of prece
ding year, ard marks increasing capacity for
cal intercourse The table Of tonnage, which also
accompanies this report shows that tonnage IL nov
44O7 lO tons and exceeds that Of any preceding year
by 2Gs 900 tons. These tables prove that We eni1y
prosperous commerce. With ali increasing capacity u
| tend it.
The table exhibiting the operations Of the mint also &C.
companies this report Il shows the entire coinage to
Slst October last have been s37OOOSl 90 the gold
coinage from the let January To the 3ls October Of the
year 1883 have beet $40 9999l5 co. and the silver
connge So $50. 225, and proves active and growing
demand for gold aud silver currency for actual use
wh't the imports Of gold aud silver, including what Is
brought the Atlantic from California, without estimat.
ing Tor that brought IN by emgraut compared with the
exports Of gold and silver prove that withn four year,
the large OF $i35 972O95 49, has been sd led 10
the gold and silver coin remaining In the country. Should
il increase continue Tor bu' short term Of years, this
country will be able 70 dispense with banks Of issue and
their attendant evils and have the gold aud silver
cy contemplated by the Constitution The operations OF
the mint and lie branches for the past year show very
f7ornble result aud the recoinage II silver has in many
places removed the Inconvenience arising from small
bank notes and want of change. mayreasDnaby be
pectcd that the supply IN the Of few years vii
be ample and extended to every section Of the country
Il Il thought that coinage ol alloy resembling Der
man silver may be bene6cay substituted fos the copper
and experiments that end have been directed Should
they prove favorable, the result will be presented durnI
the season,
linn a esroC,l examination and consideration OF IN
Treasury acts u was considered within the power AM
duty OF the department, " not absolutely required,
cause public money 70 be always IN the treasury or
the custody Of tho assistant reasureri and depositare
designed by law, Until regularly Withdrawn for the pu
poae Of disbursement in accordance with appropriations
Il aud that all powers vested in the department IN relao
70 the collection safe keeping transfer, and disbursement
OF the public money should be entrusted 20 and exercise
by lie officers That plan has been adopted aud adhere
N TO- aud difficulty OF Inconvenience hos arisen from h
sukng Of the system and h j. believed arts,
n--.Ll- Ln- Tho L-ILnr q