Cooper's Clarksburg register. [volume] (Clarksburg, Va. [W. Va.]) 1851-1861, 1853-12-28
Annual Reports of the Secretaries.
TREASTTRY

Annual Reports of the Secretaries.
TREASURY.
After detailing the receipts and expen-
ditufes. steps towards the redemption of
the public debt, &c. Mr.. Guthrie says:
The imports of the fiscal year, 1853
including specie, have been 1857, $751;,
452, ESQ. A fair estimate for profits on
our exports and the freight of our vessels
would cast the balance Of this account in
or Favor. without estimating the money
brought in by emigrants, of which no ac-
count has been taken. 1t is believed that
q large stock of merchandise remains IN
the hands of the merchants, and for that
reason, and because of the stringency in
the money market, both here and in Eng
land, it is calculated that there will be,
during the remaining three quarters of
the year, diminished Importation, COM
pared with that of the first quarter"
A list is given. in table appended of
the articles which it is proposed to add to
the free list. The revenue collected from
them during the last year was 8,ooo,-
600; which amount the revenue will of
course, lose by the contemplated change.
This will leave the revenue larger than
proper and economical administration
of the government would require; and for
the purpose of further reduction, it is now
proposed to arrange the articles paying
duties in two classes-the one class to
pay what may be considered the high du-
ty of 100 per cent, and the other class
to pay the moderate duty of 25 per cert,
and to include all imported articles not in
the free list nor in the table of high du-
ties.
This equalization will reduce the reve-
nue. about 4, 500, 900 dollars. This leaves
the revenue computed upon the imports
of 1855, at about as, 900, 900 dollars from
customs below which point it is not
proposed to reduce the duties until the
public debt is paid The change now
proposed in the rate of duty is designed
to take effect from and after the first OF
January, 1855.
The principle Of free trade may not yet
be sufficiently verified from experience in
this and other nations, to justify its full
adoption, but the progress towards free
trade, now proposed, will be justified, it is
believed, by both public opinion and pub
lie interest.
Ieis not proposed to change the princi.
pie of ad valorem duties, but it is for the
consideration of Congress whether spe'
cific duty on iron, made from the ave
rage of the last three or four years I'D
valoram duties, might not give greater
stability to the iron business, and more
satisfaction to consumers, and, at the same
time. prove equally beneficial to the reve-
nue..
Among the articles to be placed on the
free list is salt and it is remarked that
the duty received during the past year on
that commodity was $3.50, 984, while the
annual fishing bounties reached $3.50. 413.
The repeal of the fishing bounty is recon-,
mended.
The prosperous condition of our COM
merce is proved not only by the tables OF
imports and exports, but by the tonnage
tables. The merchant-marine OF the un-
ion amounted on June 80, 1858, to H..
4O7, 1O1 tons, exceeding that of last yeal
$4,000 tons.
The operations of the mint are refer
red to as showing the extent to which
gold and silver currency is being made
universal in the country. Within the last
four years S135, 200, 972 ,O94, without es,
timating the amount brought in by immi.
grants, have been added to the coin re-
manning in the country. The branch
mint at San Francisco is expected to be
IN operation on the first of February
next, and turn out sc, 100000 per year.
The sub-treasury system has beer
strictly carried out, and no difficulty Oh
inconvenience has been encountered from
it.
Notice is made of the coast-survey, re
forms in the auditors offices, a claim OF
New York custom-houSe officers for one
half the amount of fines and penaItie:
and other matters. 1t is expected thai
the department will complete the draft o.
an entire new revenue law, to supersede
all existing laws on the subject, in time
for action at the present session of Con-
gress.