The Ashland union. [volume] (Ashland, Ashland County, Ohio) 1854-1868, 1854-12-13

the particulars OF Tue puOlic uSpeoh thS
LIST of July, 1858, and the accompany
ing table, a. exhibits the particulars OF
the public debt on the LIST of July, 1854
to which is appended aetable exhibiting
the interest paidsou the public debt do
ring the fiscal year 1854, and the prin-
ciple interest and premium on the part
redeemed within that year. Table 5
exhibits the principle interest and pre-
miam on the public debt redeemed from
the FIRST of July, 1853, tothe goth NOV
1854.
From these tables it appears that the
sum of $20,098, 422 T3 of the public
debt was redeemed between the lst OF
July, 1853, and the 1st of July, 1884,
and that the interest and premium paid
on the amount redeemed was $3,455,-
GAS % and the principle interest and
premium ~ that part of the public debt
redeemed between the Ist of July, 1853
and the goth of November 1854, was
$2,504,203 81.
COMMERCE.
The table, 6, which accompanies this
report, exhibits the tonnage engaged in
our foreign and coasting trade, from the
year 1889 to t g S0th of June, 1854
1t will be seen the increase for the last
year has been O95, go O2O 95 tons
The table, z, which accompanies the
report, exhibits our exports and imports
for the same tiale aud the table, 8,
which also accompanies this report, ex-
hibits the sums received into the Treas
ury from Customs, Public Lands, mis-
cellaneous sources, Bcluding loads and
! n.,z-- - "a. ~ -.
particular price of the public lands un-
der which the same was received, also
he annual expenditures during the same
tperiod. From the table of exports and
imports, i: appears the imports are &c.
32l,317 in excess of the imports, no
account being taken of the precious
metals brought in by emigrants. The
profit on our exports, and the freights
earned by OUR ships in foreign trade
ought more than cover the excess
The exports include over S38, 5000, GOO
of spicie and bullion exported; but
while specie and bullion are products of
labor in our mines, they rank with any
other product, and must enter into u
and can have no p~erjudicial effect upon
the great interests of the country
These tables combined exhibit the
growth of our commercial marine, and
of our exports and imports, and the re-
ceipts and expenditures of our Govern
ment, and prove that reasonable expen-
ditures, dischargethe public debt, and
allow the reduction of the rate of taxa
ton, with almost the certainty thai our
increasing commerce will give an in-
crease of revenue equm to the reason
able demands of the future.
OF THE
Therefore I feel it necessary again to
call the attention of Congress in the
propriety of reducing the revenue from
customs, so that no m5re money shall
be received into the Treasury than is
required for an economical administra-
ton of the Government. The reduc-
ton proposed in my former report, as
carried out by the bin prepared in this
Department, andthe reduction proposed
in the bill, prepared and reported by the
Committee of Ways and Means of the
House of Representatives, would each
have effected the object of bringing the
receipts from customs to the proposed
revenue standard.
CHANGES PROPOSED IN THE TARIFF.
The present tariff has eight schedules,
or different rates on duties as follows /:
The first of 100 peg cent, the second of
40 per cent, the third of so Per cent,
the fourth of % per cent, the fifth of
20 per cent, the sixth of Is per cent,
the seventh at 10 per cent, and the
eight of 5 per cent. The bill prepared
by the Committee of the House of Re
representatives. has FIVE schedules, as fol-
lows The first of 100 per cent, the
second of 20 per cent, the third of Is
per cent, the fourth of 10 per cent, and
the fifth of 5 per cent. And the bill
pr pared at this department, and, which
is substantially the n reported by the
minority of the Committee of the House
of Representatives, has two rates of du-
ty The first of 100 per cent, and the
second of 25 per cent. There are diff
fculties in the execution of the present
tariff growing out of the required class
ciication under the eight schedules and
these difficulties continue to increase by
the acts of the manufactures in assimi-
lating one class of goods to another, and
in ascertaining one material of chief val
ne in the fabrics. The difficulties would
be reduced under the bill of the Com
mittee, and would entirely disappear
under that proposed by t. Department.
The bill of the Committee, with the
tables herewith annexed, exhibit the re-
venue from customs for the fiscal year,
ending June 80, 1858, and what has
bnau fbo revenua nnder the nresant
tariff for the average of six years, in
GLIDING 1853, and what would have been
the receipts for the same period under
the bill of the Committee, and under the
one recommended by this Department.
These tables only include the enumera-
ted article in the bill of the Committee,
leaving the sum of about 100000 re-
venue from unenumerated articles; but
they are sufficient to explain the char
acter of the present tariff, the one pro-
posed by the Committee, and the one
proposed by the Department.
Herewith is also presented exhibit 10,
containing the free list proposed by this
Department, to which is added the Eng
Iish tariff on the same articles from
which it will be seen that the English
tariff makes most Of these articles free /;
and, as far as these articles are used in
the arts and manufacturers, most of
them are free of duty under the laws of
other manufacturing nations. Under
the English tariff, the raw material used
in the arts and manufactures have been
made free of duty, while our tariff of
1916 imposes on those articles heavy