The daily union. [volume] (Washington [D.C.]) 1845-1857, 1853-01-21

lis revenues This is observable TO exteGt ID te
receipts from duties foreign goods Tor the PERIODS
above mentioned The acq quision of new ferIlto-
res the Pacific, follow by the development OF ther
Immense mineral resources. gave corresponding eA-
tended basis Tor commercial operations. Inc sudden
drain of foreign merchandise from the Atlantic ports 10
the Pacific lefl 10 be filled by tresh anu larger
mportaons OF foreign dutable goods, which ol course
was followed by corresponding increase oi receps n'o
the national treasury
The repeated and disastrous coDagaons at the prln
cpa port OF the Pacific. destroying millions OF properly
in foreign goods tended 10 still further Increase OF o
elgn impoTtatons. The channels OF trade, however,
having once more accommodated themselves 10 lhese
new circumstances, find gradual dlminuhon IN lhe
year OF nearly $4,000 600 new discovery ol mineral
wealth. though not within the boundaries OF our own
country yet within the reach OF It's enterprise, Is followed
by increased buoyancy in trade, and corresponding i-
in the Arising from It, BY referring 70
my former annual reports, the views OF tins department
may be found somewhat in detaf OF the results when,
in my opinion, may be expected TO flow sooner or later
from legislation which tends nluriousy to affect, II
TO great extent 10 destroy, OF the prominent
manufacturing interests OF the country by giving to the
foreign producer the control OF the supplies OF our home
market The iron interest cited to show The effect
OF permitting the surplus foreign productions in all their
vor!ous stages OF manufacture TO be thrown upon our
markets at almost nominal prices, and consequently upon
the payment of comparatively nominal duties lmpora
ons OF bar pig and other iron for the year ending 30h
June lS45 1922 1913 tons producing duties amount
ing to 81 79i 7S4 and for the year ending 30th June,
1852, the imports were 435,i49 tons, producing duties
amounting So, ,272sl2. Thus is that while the
quantity imported has increased about four and quarter
times that oil ls45, the aggregate duties received is
less than double the amount received from that source in
lS45 and that too, under heavier rate oil duty at the
latter period
This increase the impor atoms OF iron, at
prices SO lar below the lair usual cost OF production,
both here and abroad while produced corresponding
benefit to the treasury destroyed in good degree the
competition OF our producer and manufacturer The
result then foreold is partially realized The foreign
part having possessed himself OF the control of
market, raises the prices OF iron, is believed beyond
the remunefatng point and certainly far beyond the
ruling during the period OF the late hopeless struggle OF
our own manufacturer to sustain himself
The effects OF this state OF things felt in the very
large increase OF dulles consequent upon the suddenly
HANGED prices of iron, which must be paid by
sumers, and with the most unlavorable influences upon
numerous railroad enterprises III progress whilst
lis attended with corresponding benefit to those whose
capital embarke in this branch of manufacture has been
totally lost On the other hand by this rise in the prices
of iron, il may be expected that new stimulus will be
given to that branch OF American labor, which may again
be met by similar consequences. when II shall have be-
formidable competitor with the foreign producer
ending IN destructive reduction IN price, and redund
an, supply.
Whilst the foreign commerce of the country and the
foreign market for its productions are undoubtedly Of
great Importance yet they both probably receive
due share OF consideration, for they respectively sink
into relative nsgnlhcance when compared with our IN
terna and coaswIse commerce, and with the home
ket
There are no records which will enable the depart
ment 10 give the correct amount OF our internal and
coastwse trade, but some idea may be formed OF lis vast
extent when ii is recoeced that the annual value OF the
agricultural, mineral and manufacturing productions OF
the countyis not less than three thousand millions OF
dollars, (S3 900 900 000 shown by the statistical
turns of the late census; large portion OF which is
transported by river, canal or coasng vessels or on
railroads. and which IN the OF trade changes hands
several times before reaching the domestic consumer
making IN the aggregate an amount OF lrahc counting
by thousands OF mlions whilst the whole amount
shipped to foreign countries IS but SloOOoO,000 being
only onstwentieih part OF the entire production Of the
county, which thus finds outlet in foreign markets
The single article of coal annually transported coast
wise aud IN canal boats, on railroads. Is OF sufficient
bulk 10 furnish full cargoes Tor four times the quantity OF
all the American tonnage employed in foreign
and probably affords the OF livelihood 10 greater
number OF persons than the latter
The coastwse trade 10 and from the American ports
the Gulf OF Mexico OF itself probably nearly equal in
point OF value, TO The entire export OF American produc
lions TO foreign nations
striking difference between the magnitude and rn-
porance OF The home market and the foreign one, is 10
be found in the statistics OF exports of what famillary
called the famine year oil lsi7. There was some dih.
Guilty at the time in procuring sufficient shipping, inclu
ding both American and foreign, 10 convey our bread
stufs 10 The iamshng nations OF Europe, and YET
tire exports during that year OF the two principal ARTICLES
OF foodlndan corn (maize) asd nuuwere only about
three per cent OF the iomer and about ten per cent of
the latter, estimated on the whole crop produced in tNe
United States leaving ninety seven per cent OF the In.
tdian corn and ninety per of the wheat crop for the
supply OF the home market, where II was actually
sumed Our exports OF breadstufs al present only
about one third OF what they during the above year
oil UNUSUAL demands exnlDltng IN sui more striking
contrast the immense difference between the home and
foreign markets in favor OF the former.
The tolls collected by the canals and railroads on
the transportation OF merchandise Tor the internal trade
OF the country exceed amount the total value OF all
the breadsuffs purchased from US by foreign nations
The annual value OF the crop OF Indian corn, OF wheat,
and OF hay each respectively fully equal To the entire
value OF productions exported TO foreign countries
The annual amount OF the manufactures IN the States OF
New York Pennsylvania, in either of those States
greatly exceeds the value OF such exports and even
those OF the comparatively small State OF Massach 0sets
are fully equal TO all the productions oil The country con.
sumed by foreign nations . .--a.a...
The latter State probably besdsuds that are
pro1aced in the middle and western States TO gteater
amount than shipped all Europe, with the grea, ad-
dtonal advantage OF this being regular and uniform
puces OF foreign governments in the regulation of their
commerce and the assessment OF arbitrary and evervary
ing duties, according TO their own actual wants and
cumstances Yet all these immense agricultural mineral
and manufacturing interests, which almost exclu.
svely connected with the internal trade of the country
and the home market, receive greatly less attention and
consideration from the community than the compara-
lively small amount oil our foreign commerce ...tN
My views Of the beneficial results which would fol-
low tariff with liked and reliable rather than with s.
ding, and consequently uncertain, rates OF duties have
undergone no change. now recur 10 them as a duty
imposed upon me by the acts establishing the Treasury
Department a .H
The imporaiions OF foreign merchandise. table --O
for the fiscal year ending both June last. amounted
TO ##ai -...# : r2D7,l0o73s 90
The exports for the same period were, of
domestic merchandise, Sl5a.q30,t4700
Foreign merchandise ....a
re-exported .- l2O5I,Ol3 90 ... #.
al san m