Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1857-12-15
THE RICHMOND ENQUIRER.
TUESDAY DECEMBER Is, 1887.
REPORT OF THE SECRETARY OF THE
TpEASIIRY
BY RITCHIE & DUNNAvANT.

We publish to-day as much of the report of the
Secretary Of the Treasury, as under the pressure OF
other important matterwe can well compress into our
| columns. On Monday we will furnish our readers
| with the remainder. 1t is plain and practical paper
evnc;ng petea: and thorough research, and atestins
the eminent fitness of its author for the posi-
tion which he holds, no. less by the mastery man
ner in which ia facts are srrayed, than by the
clearness and cogepcy with which Its powerful
original arguments advanced. 1t will be seen that
The Secretary says "The exports for the year ending
June 3Oth 1857, amounted TO 1862 949 LA, and the
imports for the same period were S36O, O,s9Ol4l." He
says also "he indications at present are, that the
ports of breadstus and provisions will decrease botf
in quantity and value; but the increased value inco
ton, at it's probable prices, which constitutes much
the largest item Of our exports, would make up such
deficiency" From the best information which car
be obtained, the opinion is entertained that the e1
ports for the present fiscal year will not fall below
those Of last year more than ten per centum.
The public debt at this time is s25, l55 81. In
connection with the existing monetary embarrass.
ments of the people, the Secretary aludes to the per
haps natural but somewhat unreasonable fact that AT
anxious eye is turned to the Golfers of the govern
ment for relief. He takes occasion to dioprove the
faacy upon which such expectations are founded
and to expose the incompeteucy of the government
by asking for any power conferred by the Consttu
ton n justification of such course He says "there
might and would be- .jusl cause of complaint, undel
the pressure of either an imaginary or real mo-
netary crisis, should the government suddenly
stop the extensive operations which are thet
giving employment to multitudes OF laoorers
and by "throwing large numbers OF employees
out of service, add to the distress and suffer
ing which the revuision had already created" "Be
ing engaged in the prosecution OF necessary and ie
gitimae works for the public service it would be the
| policy and duty of the government to continue theii
| prosecution, even though il should occasion the ne
cessity Of increasing its available means by some ex
| traordinary measure" "The discontnuauce Of suct
works has not been and is not now contemplated
and to this extent, the country may look with pro-
priety TO the operations of the government for re
| lief"
An increase of the tariff as means of assistance
in the existing financial crisis, is also noticed and dis
cu,sed closely and conclusively. The short'sighed
ness of such policy is satisfactorily demonstrated
To that point Of the report We would invite the ear
negt attention Of all who entertain the slightest doub
Of the propriety of the Democratic doctrine of e1pan
sve and unrestricted commerce. The PHILOSOPHERS
reflections with reference to the cause Of the presen
revulsion" will be found highly instructive. The re
commentator Of compulsory bankrupt law also de
serves serious consideration. The gratifying e1pos
ton of the successful working Of the Independent
treasury should be calmly and carefully considered
by the several States. He says "Under the opera
ton of an Independent treasury system, adopted b,
each of the States, there would be difficulty in 70
tanning in The country sufficient amount Of specie
not only for the purposes of the government but al
SO to secure sound paper currency" The repor
abounds in the most interesting and ueeful intorma
,on. It is written succincty as the happiest fac
| atty of condensation could permit But 1t is plai
md rontad in e~ery P"rasroPh, and wS corolan.
| commend m he con aid alton of Our readers,