Vermont watchman and State journal. [volume] (Montpelier, Vt.) 1836-1883, 1853-01-27
Ig,72S,356s9
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Orthe sum Of s46,067 ,S96c0 expended dur
ipg the year, slOOi57963l were paid on nc
count of the principal and interest of the funded
debt, 50 277, 69ls2 for duties refunded, cost Of
ocean mail service, aud expenses Of the census
of ls5O-and s2,2I9,7l536 for expense Of col
Letting the revenue. Deductng these items, the
legitimate expenditures for the support of gov
crnment turn out to be only S3O,53i, 692.69 for
the year about half much as the locofoco
clectioneerers told the people they would be.
We hope tho new administration will be quite as
prudent as the present has been.
The Secretary estimates the receipts for the
year ending June 30, 1853, at S5l, 100000, max
ing. with the balance on hand S65,g32, 10 81
Estimated expenditure for the
same period including s., ly9-
am for public debt, 60,560,056.S6
Leaving the bal. July ] 1853, S5,372, 6695l
The receipts for the year ending June 80, 1854,
including balance, nre put at S5G,572,079.9l
Expenses, including about four
millions for public debt iG,203,75360
leaving uie Dhi- "ull y lCJf, SiNiovcir-'''Vi
The public debt registered on the lst inst.
was SOS, l3l ,692l3 Since the LIST inst $780,
900 has been paid. The Secretary recommends
tina, authority be given to pulchase the loan of
isi7 at current rates, instead Of waiting TO re-
deem it at ma,urily llsG7,l providing, however,
chat the surplus in the Treasury shall never be
reduced below five millions.
WAYS AND MEANS.
The receipts for duties on foreign goods have
fallen off s l,b7o,2il30 as compared with the
preceding year, but this decline is considered
temporary, the buoyHncy Of trade occasioncd by
the discovery of gold IN Australia being likely
now to operate to some extent as did the discov-
cry Of gold in California
The Secretary next adycrts to the injurious
effects of the present Tariff which gives to the
foreign producer the control Of the supplies OF
our home market, and instances iron as an illus
tration. In 1915, to July !, l02,723 tons were
imported, paying Sl,79i,G in duiies-whllc in
1852, to July |, the imports were quadrupcd
(435, l49 tons,) yet the amount of duties is less
than double S3,272,sl2. BY thus bringing in a
vast amount Of iron in 1852 at prices less than
half the prices Of lsi5, the American manufac
turer crippled, and now, the foreign pro-
ducer, by a reduction of prices on his part, and
of duties on our part, having possessed himself
Of the control of our market, raises the prices Of
uon it is believed, beyond the remuneratng
point, and certainly far beyond the rates ruling
during the period OF the late hopeless struggle Of
our own manufacturer toeustnin himself" The
immediate effects are uniavornble 10 the numer-
Gus railroad enterprises in progress, nor do they
promise any permanent good to American manu-
facturers; for if they are stimulated by present
prices to go into the manufacture of the article
the foreign producer will again reduce his price
temporarily, and thus put out the fires of his
Yankee competitor.
Undue Importance, says the Secretary, is Civ
en- TO foreign commerce, which is insignificant
compared with our internal and coaslwise com
nerce. While the annual production of to-
United States amounts to 300 millions of dol
lari, the amount exported amounts to only on
hiriieh part of that sum. The single article c
coal transported annually on our canals and b
coasters would freight ships to four times IN
amount of all our tonnage engaged in ioreig
trade and the mere tolls of our canals and raj
roads on domestic freight exceed in amount a
the breadstuils sold by us to foreign nations IN
annual crop of either corn, wheat or hay, is equ,
TO the value of all our productions exported
foreign countries and Massachusetts alone col
4 ~
the whole amour, shipped from this country
Europe. Yet all these immense agriculture
mineral and manufacturing interests, which a
almost exclusively connected with the intern
trade and the home market, receive greatly le
consideration from the community" Congress
"thun the comparatively small amount of our fc
eign commerce." In concluding this topic, Il
Secretary refers to bis views, heretofore expires
ed, in favor of tariff of fixed and reliable
ties, instead Of sliding and uncertain rates.
laroRTs A~a ExrsRrs.
Imports for the year ending June
80, s2O7 1907;
pors,-domestic
products, Sl5i,930iF
foreign goods re-
exported, l2,037 ,ol3-lG6967, a
Excess of imports over exports, siO,Il2,2
Specie exported, Si267i,l25
imported. $500 5i4
Excess Of EXPORTS S37i50,5sl
Deduct bal. ofsPecie exported, :H,l70,5
-
And s2,97l,C
remains as the debt against US, on the yea
trade. Al this rate, Uncle Sam viii want all
diggins'' of California TO keep himself e,
with the world. Thirty s,ren millions Of sP'
exported to Europe more than We receive ba'
Think Of that
For the rest, we use the following SUNNI
of the New York Tribune;
The export of tobacco has increased alb
three.quarters of milton; Of rice, one quart
of breadstuiis and provisions, four millions.
export of domestic merchandise has fallen
nearly twenty-four millions aud a half and
specie has increased thirteen millions and
quarter.
The Mint at Philadelphia has coined dur
the year hfiy-one and half millions of %
$sse,3o0 .of silver, and S52,620.9i Of coor
IT, nx.,cn attuts hava r,tnad .k... Z -