Belmont chronicle. [volume] (St. Clairsville, Ohio) 1855-1973, 1856-12-11
Annual Report of the Secretary o
the Treasury.

luminous but able and interesting document.
II sets forth the financial condition Of the
country in lucid and satisfactory manner
and urges many important changes in the
tariff, &C., with much force and ability.
After giving in detail the receipts Of the
Treasury for the past fiscal wear. and the
expenditures for the same period (the totals
of which appeared in the Presidents mes.
sage.l he proceeds 10 show that on the
3eth of June next there will be an estimai-
ed balance in the Treasury of S22 ,sI5, ,222
81.
The estimated receipts into the Treasury
for the fiscal year ending 3Oih June, 1858,
are estimated at S72,955,3IO 81, making
with the balance on hand, the sum of S95.
3Oo.533 3s, while the expenditures are es-
timated at S7l,3o4,s22 76.
The report next proceeds TO a minute ex-
position of the national debt. and shows, as
was stated yesterday, that during the pres
ent administration il has been reduced from
S7l,S7s,937, TO 1.-the sum Ct S30,9e3 ,9O9.
which amount could be paid at once if it
was due. In making this reduction, the
sum OF S4O,9l6, OPT has been paid for the
principal thereof. and S4,6O6.862, for pre-
Mum on portions ofsfi redeemed befre
msturiIy, saving the sum OF sl4 COG, ,44I BY
paying in advance.
The actual receipts from customs into the
treasury from the first quarter of the fiscal
year 1857, viz: TIE quarter ending the 30th
of Sept, 1856. have been S2l ,925.43I &c,
being S2,l5O,97i, % more than the CORE
spending quarter or the preceding year
The same causes that operated to increase
the resenGe from customs during the last
year may be expected to Influence in the
same way the receipts of the succeeding
three quarters, but, probably, not to the
same extent.
Foi the fiscal year ending 30th June, 1856
the domestic and foreign merchandise ex-
ported amounted to S326.964,9IS, and our
imports for the same time TO S3l4 639, ,942,
making the exports sl2, 1926 ,o66 in excess
Of the imports.
hC POih iiINh piONSNNs " q &c
duction of the tariff We quote:
1.-The continued increase of our popu'a.
tion, and OF import and exports, with the
that of cur agricultural, manni uring and
mining wealth, s. our facilities ifor internal
and external commerce, as exhibited by
the combined tables Of this report, encnur-
age me again, to recommend e modification
of the tariff of'l846, and reduction of the
revenue from customs. II is assumed as a
fact beyond question. that tariff on i'm
ports is tax, and that the tax is paid bv
the consumer of the imports, and that it is
undeniable, that no tax should be imposed
or continued, not required for an economic
al administration of the government, allow
ing for the fulilment of all its duties pres
ent and prospective; and that the CO lee
ton Of great revenue, is wrong agains.
the people, who pay the tax, and imparts to
the agents who administer the government,
a tendency TO undue power, waste and ex-
traragance.
Many believe that the Sc O0o, 900 or ST.
600 600 annually expended ou: of the ma
]aional treasury, for carrying the mails and
Cor The printing books. &C., has been caus-
eddy redundant and overHowing treasury,
and that the same cause has operated to in
crease our expenditures upon other objects,
and upon some not called for by the pres
ent or future exigency Of the government,
nor by the justice Of the claims provided for;
whilst but few. if any believe there is any
ne :essity for continuing to increase our ex-
psnditpres with :he continued increase OF
our revenue. The tables of imports and
exports for the last ten years exhibit a con-
slant and continued, although not an annual
increase OF our imports and our exports, and,
consequently, Of our revenue from customs.
We should consider the same causes that
have operated to produce this increase for
the past years will operate to continue it in
future years, and place still larger sums in
the national treasury. The productions of
cur planting and provision States, as well
as our mining and manufacturing States.
continue and will continue to increase with
the increased AMI increasing foreign and d.
mestic demand; commerce being the ex.
change OF the productions of one country
or nation for the productions of another.
whether made indirectly by sale and pur-
chase for money, or directly by barter, the
conclusion is irresistible, that both our do
mestic and foreign commerce have general
ly been of equivalents, and profitable 10 all
parties; and as they have increased, so they
will, under the same circumstances, con.
tinue to increase and justify modification
of the tariff, and reduction of the revenue
from customs.
In the modification have heretofore
suggested, the proprieiy of increasing cur
free list, by admitting the raw material used
in our manufactures, to free entry, and
thereby giving to the capital and labor Of
our people, equal competition with the
capital and labor % those countries which
have for the benefit of their manufactures,
admitted the raw material without DUTY, and
have recommended the same articles 20 be
admitted free by Great Britain. This would
reduce the revenue between $1,000 600 and
$S 100000. have also suggested, that
some articles Of general consumption, Sc h
as salt, rho Ild be added to the free list, and
the tarif, on some other imports. should be
reduced some $7,oO0,OOO or $4,000 ,oOO.-
This,upon the imports of last year. would
reduce !he revenue to about $4,000, 900
from customs, which, with the receipts from
the public lands is deemed all sufficient for
the necessary requirements of the govern
meni: The average expenditures OF the last
FIVE years, excluding the public debt and
the $:o,o0o,OOO paid under the treaty with
Mexico, having but little exceeded SI%0e0,-
900. If in future years there should be in
creased demands on the government, the
revenue from customs may be expected TO
increase. so as to meet them, without the
imposition of additional duties; but ie MOI,
the propriety of taxation will then be for
the consideration of the constituted au-
thorities.
Tnste. d of a modification of the tariff and
the reduction of the revenue from customs