New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1856-12-04

'nii! Year, og"' thn ii De pcssloie sna' Jul "s
'pg Il MAKE believe, ought To- cost US over rhrty
Millions year Mght it not be a. well done BY
contract for less than half the amount
IL addition to our cash eIpepo tures, however,
II should be considered that we have for gears been
giving ont Public Lands in the shape Of boun'ies
for past military services at the rate Of some tea
mili'Is Of acres per apnum, which Is 90 much
ADDED 10 tie cost Of the Government and OF our
lighting.
Mr. Guthrie estimates the receipts Of the Treas
ury for the current fiscal year. should the Tariff re-
main unaltered, at Sixty six Millions from Customs
Six Millions from Lands, and OOe Million from all
other sources-in all Seventy three Millions. Our
Imports for tie fiscal year ending with last June
were officially valued at Three Hundred and twenty
seven, and our Exports at Three Hundred and Fit
teen MlLOUs-an excess ofonly Twelve Millions on
The wrong side Of the ledger. But it mast never be
forgotten that our Exports mainly pay Specific
while our Imports are subject to Ad Va
loren duties, so that there is every possible
induoement TO undervale the latter and none at all
10 updeIvalue The former. We believe our Imports
are valued at the custom houses in the average
twenty five per cent. below their market Price,
while our Exports are inyoiced at their full value,
so that the actual excess Of value Of our Imports
over Exports is nearer One Hundred Millions than
Twelve. But from this balance is to be deducted
the profits OF Navigation, and the proceeds of e1.
ports like Ice, that cost little or nothing, and the
actual balance of Imports over Exports is probably
about Fifty Millions. fthere be no such balance,
will any one tell why we buy so much on credit
and why We are always trying to "place" railroad
bonds and stocks in EuIope'
Nh Guthrie urges reduction OF the Tarlii, Tor
reasOcs which do not seem so forcible TO US as TO
him. How debtor in the sum Of Fifty or sixty
Millions should feel impeled to reduce his income IN
order TO saye himself from hab:s Of extravaganza
and his servants from rascalty We do not perceise.
Why not first pay off his debts, or provide the
means for paying them But we do not object to
the mode of reduction which The Secretary indicates;
in fact, We heartily approve it. No dead level OF
twenty per cent, nor anything like it, is counten
anced by him. On the contrary be would remove
entirely the imposts now charged on certain raw
materials-Wool, Silk Furs, Hides aud Skins, &c.
reduce the labor Of collection aud at the time
give advantage to our infant and struggling mana
features. In this view, we believe him en-
TREY right, and trust that he may be needed by
the present Congress-. Under this head, heexposes
the defects and wees Of our present Tariff with
severity all the more rigorous that i. is manifesty
unintended. We quite sure he is right with re-
,Las nf fb
stap'e, regardless of quality or price, will prove
beneficial to our wool growers as well as wooden
manufacturers. The fact stated by him that British
Wool actually advanced in price during the year
in which the Wool duty Of twelve cents per pound
was taken Off is strongly in point. Our wooden
manufacture is far weaker than the British and the
good effect would probably not be so speedily real
lied as in the British case; but activity and pros
perity to our wooden manufacture would soon ex-
tend to the wool-grower Every tun of foreign
wool imported and manufactured would mike a
market for tun of homegrown wool in the joint
production of fabrics now mainly imported.
Salt is on the Secretazy's free list, but not Sugar.
He does not even hint at a reduction Of the Sugar
duty. Here, teo, we agree with him. Iron and
he looks to the retention of the duty and the gradual
expansion of the home product to furnish both in
cheap abundance.
The Secretary fOrciby exposes the fallacy of any
attempt to substitute Specie for our present mixed
Currency, but deems it incumbent on him TO preach
a crusade against Small Bark Notes. We regret
this. Small Notes are no. necessary to the collec-
h..r ia ham ma IA
perfect light to do; but we need them in picking
up our living in SIS, $2s and SIS, as well as sos,
slOs ard S2Os, from Maine to MINES Dta, and We
have many subscribers who, in the absence OF small
notes, would with difficulty pay US at all On whas
principle, but that Of the dog in the manger, shall
the Secretary impede the receipt Of our modest in
come, when we do all We can to facilitate the col
lection of his bounteous onel II any State chooses
TO prescribe Small Notes it does so; if any State
chooses to have them, why not Mr.. Guthries
suggestion of Constitutional amendment to pro-
bibit the issue of Small Notes is like breaking
butterfly Oh wheel-it can never be carried out.
qhe Secretary argues that Ad Valorem are pref.
erabe to Specific Duties, but no. very heartily or
70 c.bly. Simplicity e1setness, labor-saving hon.
esiy, are all in favor Of Specific Dulles. He tries
10 identity Specific With High duties, IN defiance of
the fact that Great Britain and other Free Trade
countries uphold Specific Duties so far as possible.
TIE fact incidentally stated by him that yo-thrd.
of cur Imports are on foreign account, ough! to
have weight in this connection.
Mr. Guthrie puts the amount Of our FEDERAL,
State and Corporation stocks aud bonds at Four
teen Hundred Millions of Dollars, of which over
Two Hundred Millions are hello by foreign.rs-i
other words. we owe TO Europe Two Hundred