Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1858-12-10

1850, should be added the sum OF S3 rs,
which will be required for the service
of the Post Office Department during the pre-
sent fiscal year. This latter amount is not Ia.
ken into the foregoing estimates, but is asked
! for BY that department, AZ will appear from the
| letter of the Postmaster General accompanying
the annual estimates
When my last annual report was submitted
to Congress, Iexpla;ned the embarra>s:nentsu n-
der which the estimated receipts into the trea-
surv were made. 4 new tariff act had just
gone into operation under circumstances grow
| ing out Of the then recent rcvulsion in trade
and business, which made all calculation as to
its effect upon the revenue doubtful and unsat-
isfactory This opinion was frankly expressed
| to Congress at the time. The present estimates
are submitted under somewhat more favorable
circumstances and consequently, with greater
confidence in their correctness.
! The tariff Of 1857 has been in operation
! more than year. and in ordinary times the ex-
! pcricnce Of that year would afford reliable data
! to Judge of its effect a. we'll upon the trade OF
| the country as the revenues ofthc government.
The continuance Of financial difficulties during
largo portion Of the time, however, and the
effects Of it, operating to great extent during
the whole period create serious difficulties in
forming satisfactory judgment upon the ques-
| ton. The present estimates arc based upon
the opinion that reaction in the trade and
business Of the country has commenced, and
that we are gradually, but steadily, returning
to a healthy and prosperous condition. There
! seems to DO concurrence in the pub
lie mind on this subject if we may judge
from the general tone Of public sentiment.
| The files Of the department furnish strong evil
! dence of its truth. Our exports for the year
ending the 30th juno, 1858. were 1924. GA 40
being reduction from the preceding year OF
! only S3S,3l6,26l; whilst the imports for the
same time were 1892 6l3, 100, being SIS, 216,?9l
! less than the year before. This balance in IA
yor of exports over imports was doubtless APP
proprated to tho payment Of our foreign debt.
thus relieving the country, in part, Of that
source of embarrassment 1t exhibits a large
margin for an increase of importations when
! the business and necessities of the country shall
demand it The restoration Of confidence and
reaction Of trade have already been manifested
in this regard
! By referring to the receipts from customs at
/ the port of New York for the months Of Octo-
Dor and November, 1856, the year preceding
tho revulsion, the same months of 1897, the
wear of the rerulsion, and the same months OF
the present year, find that the receipts OF
/ those two months in 1856 were 6,202 22I; in
1857, we're so,O2solo; and in 1858, were
/ $3,sl0,Sl9. Whilst the country has not re-
covered entirely from the disasters Of the last
year, the increased receipts Of the present year
indicate decided reaction, and the promise oil
a certain and speedy return Of prosperous
| times.
The foregoing estimates contemplate def
cheney in tho means Of the government, which,
| by the 30th June, 1860, will amount to the sum
Of $T,9l4,576. Provision should be made by
! Congress at its present session to supply the
deficiency. In what manner shall it he done
/ 4 loan for this purpose il not deemed advisable,
/ in view of the addition already made to the
public debt 4 revision of the tariff Of
1857, and the imposition Of additional duties is
| the only remedy, unless Congress shall take
! some action to relieve the treasury from por-
ton of tho expenditures it is now required to
! meet
In revising the tariff, the same principles
! should direct and control the action Of Con-
crcss that would be considered in the adoption
Of an original act.
! do not deem it proper to enter into any ca
tended discussion Of the thcoretic principles on
which tariff act should be framed.
They may be briefly stated. Such duties
should be laid as will produce the required re-
venue, by imposing on the people at large the
! smallest and the most equal burdens.
! It is obvious that this is most ctfectualy
done by taxing, in preference to others, such
articles as are not produced in this country !;
and among articles produced here, those in
which the homo product bears the least pro-
portion to tho quantity imported are tho fittest
for taxation. Tho reason is, that In taxing ar.
| ticles not made in the country tho whole sum
taken from tho consumer coca into the troA-