The daily union. [volume] (Washington [D.C.]) 1845-1857, 1853-12-09


remains IN the hands Of the merchants, and for that
SON. and because oil the strngency in the money market
both here and In England II Is calculated that there viii
be during The remaining three quarters OF the year. d.
minished Importation, compared with that OF the mrs
quarter.
The estimate for the fiscal year 1855 has not been mad,
to exceed that OF 1885, Tor the that is believed
that the OF diminished mporalons during the lat
Ter part oil the fiscal year 1884 will be extended into
part OF the succeeding fiscal year. and because the agta
ton of reduction OF the tariff viii have tendency tt
prevent nporations beyond the actual demand for
sumption.
Most articles OF manufactured merchandise. like tn,
annual productions OF agriculture, necessarily con
snmed within the year. and again restored by productive
industry i0r the succeeding year; and with population
able 10 Pay. there is great uniformity IN The annua
amount OF imports and exports There are often causes
however, which prevent regular and progressive IN
crease such as short crops low pces Tor exports, eilhe
At home or abroad, without the disturbing influence O
war. Still i is believed that the receipts OF the 6sca
yedf 1888 will be sacient to meet the expenditures
the ear and Reasonable purchase oil the public debt
and justify reduction Of the duties by adding to the ret
list and reducing the tax upon many other articles OF i'm
The liable Fl. accompanying this report, exhibits the
foreign articles imported free OF Duly and their value fo
the six years from ls4s to 1853 inclusive. and also the
foreign articles imported paying duty, with their value
and rale OF duty, for the same time.
The table !, accompanying this report, exhibits sepa-
rate list Of the foreign articles which i is hereby pro
dncng the revenue The collected from the art
ces in table for the last year, about $1,000 ,000 in
which aiouat, It may be computed the revenue will be
reduced, by The adoption OF the proposed additional free
list
This will leave the revenue larger than proper and
economical administration Of the government will require
and Tor the purpose OF further reduction it is pro-
posed to arrange the articles paying duty in two
the class contained in the table X accompanying this
report TO pay what may be considered the high duty Of
100 per cent and the other class 10 pay the moderate
day OF rs per cent and include all imported articles
not in the free list, in the table K OF high duties.
This equalization will reduce the revenue about i500,-
0o0 This still leaves the computed upon the
imports oil s5s at about $45, 900 900 from cusoms below
which point is not proposed to reduce the duties ua,l
the public debt paid The change proposed in the
rate Of duty Is designed to take effect from and alter the
Isl January, 1855.
The effect OF making the duties IS per cent on all
tices imported not included in the free and higher lists
will be 10 give greatly less trouble in the collection of the
revenue, and TO raise the duties articles and
duce them others. When the duties raised, the
change may in restraint OF importaons, and when
reduced in their favor; and the result,
tent will counteTact the other The proposed reduction,
had il been applied during the last year. would leave
abundant foT all the reasonable wants of The gov
to the army and navy meet The exgencies of aug
mentng population and increasing commerce, and
leave the receipts from the sae OF public lands TO be APP
Piled TO the purchase OF the public debt, 10 which these
proceeds are pledged by law.
is not proposed to enter nio any extended argument
10 prove that the articles in table should be added to the
free s. nor 10 prove The prope'y OF The proposed re-
ducon OF daes TO the uniform standard Of IS per cent
When 10 not needed articles OF general for
manufacturing and other purposes not the growth or pro-
dacon OF the United States, or but partially SO. should
moi be taxed and no higher taxes should be levied
other imporlaons than may be necessary Tor the eco
nomIcal wants OF the government: thus leaving COM
be reduced Congress- view OF the present of
the government shall deem best the increasing popul
ton. production, industry. and enterprise OF the nation
will s necessarily add to the mpor,atons. and
quenly TO the revenue, what shall be needed Tor in
creased expenses.
The tables accompanying this report exhibit the free
lists OF England, France, Belgium. Portugal, Brazil,
Austria. Spain. Knssa. Cuba. ihe Zoll.yerein Chill.
Netherlands. Hanse Towns. Norway. Mexico, and Swe-
dem aud mark the progress OF free trade among commer
cia nations Unrestricted commerce. binding the nations
Of the earth stronger bonds of peace by mutual bens
i,s has numerous and increasing advocates in this and
other commercial countries The principle OF free trade
may hot yet be sufficiently verified from experience in
this aud other nations 10 justify its iull adoption but
the progress towards free trade proposed will be
justified, is believed by both public opinion and public
interest Ii is considered that the taking of the dny on
the material used IN our manufactures will
teract the reduction of duties foreign manufactures,
and, when compared with the operations 'o the present
tariff will not materially affect the interests OF domestic
industry or commerce.
II s proposed to change the principle OF al ualorem
duties bat is for the consideration OF Congress wheh
e specific duty on ron made from The average Of the
greater stability 10 the iron business and more satslAc
ton 10 aud, at the time, prove equally
benehc al TO The revenue.
IL ~ proposed to make salt Tree oil duty. The average
annual from that article for the five years goth
june 1852 is only s232 asa; while the annual fishing
bountes exclusive OF the drawback pick led fish, Tor
which the salt duty pTeex amount 10 S2S9 4I3, be-
sIdes other heavy annual expenses to prevent frauds
report upon the subject OF the fishing bounues.
from Ross Browne. with lis references, is herewith
submitted. For the stated IN that report II is
recommended that the 6shinG bounty be repealed. and
that branch OF industry be left To the fair competition
which causes other maritime enterprises TO flourish,
The table OF imports and exports for the hscsl year
ending both June. 1853. accompanying this report and
heretofore mentioned, compares favoraby with those OF
preceding years, and marks increasing capacity for
commercial intercourse The table oil tonnage, which
also accompanies this report shows that tonnage is
year by 26s 900 tons These tables prove that enjoy
prosperous commerce, with an increasing capacity 10
OK end IT,
The table exhibiting the operations OF the mint also ac-
companies this report Il shows ihs entire coinage to
81 October last 10 have been 1910 1872 50 the gold
consgc from the LIST January to the 3ls October of the
1859. TO have been ,9s3 60 and the silver
~ 225, and proves active and growing
nand ior gold and silver currency for actual
whilst the imports of gold and silver including what
brought 10 the Atlantic from California without estima-
ting Tor that brought by emgranis, compared with the
exports oil gold aud silver, prove that. within four Year,.
the large amount OF 09J 10 has been added
the gold and silver remaining the country Should
this increase continue for bat shou term OF years. this
counry will be able To dispense with banks OF issue and
cy contemplated by the constitution The operations oi
the mint and its branches for the pas, year very
favorable result and the recoinage OF silver has. many
places. removed the Inconvenience arising from small
bank notes and oi change. II may reasonably be
expected that the supply the OF few years will
be ample, and extended every section Of the county
The operations OF the mint nj Philadelphia and the
branches require that the director should have
ant The salaries allowed by Law to clerks employed ia
the former have been found nsucea. TO retain the best
utIus .fs A. -i..f t..t Srl -