The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1858-12-07
Deduct the actual no estimated expenditures
as heretofore stated .......... ........


JULY !; 1860
Estimated balance ia the Treasury s. ,oo3 2os 81
Estimated receipts from customs TOR the as-
cal yesr ending june so, 1860 .56,oD coo 90
Estimated receipts from pubic lands 100000 90
Estimated receipts nom miscellaneous
sourcts. l'"oooo w
Aggregate Of means ior year ending Jvar
60, 1850. 69,oe3,29s 81
Balance q existing appropriations .... l2,a78,9o. %
Amount Of permanent and indefinite appro
pria,ion3, a,i'!i'a 90
E.imated appropriations to be made bs Law
81 lea 5i5 6s
.3,lSolA7 46
TIC ,mated receipts being ........ e9,O632oS 81
Deficit. 4,o7S,s4s 50
To u.is estimated deficiency on the sOh June,
$780, should be added the Of sS 72s, which will
be required for the service Of the Post Office Department
during the present fiscal year This latter amount is not
taken into tho foregoing estimates but s asked for by
liza. department. as will appear from the letter of the
Postmaster General accompanying the annual estimates
When my last annual report was submitted 70 Congress,
cxpiaued the embarr under which the cstmat
ed receipts into the treasury were made new tariff
act bad just gore into operation, under circumstances
growing out OF the then recent revu0n in trade and bu
sncss, which made all calculation to its effect upon the
frankly expressed to Congress at the time The present
estimates are submitted under somewhat more favorable
circumstances, and consequently with greater confidence
rns rAR,1y AND r1R nxeY.r r:xvursIoS
The tarf OF 1857 has been In operation more than
year. aud 10 ordinary times the experience Of that year
would afford reliable data to judge Of its effect well
upon the trade Of the country us the revenues OF
the government The continuance OF hnaIca. difficulties
during large portion OF the time however, and the ct
ecss OF ~ operating 10 great extent during the whole
period, create serious difficulties in forming satisfactory
judgment upon the question The present estimates
based upon the opinion that reaction ia the trace and
business of tie country has commenced and that we are
gradually but steadily, returning to aheathy and prospe
rous coalition. There seems to re concurrence IN the
public mind OF this subject IL may judge from the
general Of public sentiment. The flea OF tie depart
for the year eGong the 3oh June 1858 s32a GA t2
being reduction from the preceding year OF only $685.
Si6,26i whilst the imports for the time
s2S2 $780, being rs 27699i than the gear before
This balance in avor Of exports imports doubt
less appropriated to the payment Of Our foreign Debt thus
relieving he country, IN part OF that source Of embar
rassme1t Il exhibits large margin for an increase or
country shall denaEd IT, IT, restoration OF confidence
and reaction Of trade have ally been manifested in this
regard :
New York Tor TIE Of October ard November 1856,
the year pcccdpg the rcvulsioa IN same months Of
1857 the year Of the reyu,s.on and TIE months Of
the present year, ind that TIE receipts OF those two
months y 1866 were So 2o2 n 1857 were 2lo,
Soye,d ensIT fsor, The disasters Of tho las. Wear tie
increased receipts OF The pyesout year indicate decided
reaction and The promise OF certain and speedy retnrn
| NOTIFICATIONS ~ llm rAarY Rsnss,snsp
The FOREGOING estimates contemplate de0eency in
re means Of the government, whcn By the Goth June,
son shoa!d be made b. Congress Al It's present
Session 10 supply the deficiency. IL What man
not deemed advisable ii ves Of tao addition already
made 10 The public Gob!. revision OF the tariff of
1857 and tie imposition Of additional duties, the Gully
remedy unless Congress shall take action to relieve
the treasury from PORTION The expenditures now
required to meet
and contro tie action OF Congress that woId De consider
Cd IN the adoption o. an or!giIai act.
10 Lot deem proper 10 enter iao any extended Dis
cussor Of the tieore,c principles which ,ariG act
should be framed
They may be briefly stated Such dvtes Should be iad
a. will producc the required revenue, Ivy imposing on the
people at large the smallest and the most equal burdens
Il obvious that this mos, c1ecuay done by taxing,
In preference 10 Others such articles produced
in this country and among articles produced here those
r which the home product bears the least proportion to
the quantity imported the 1ticst for taxation The
reason il tha, IN taxing articles no, made in the
country the whole sum taken fran the consumer
gees INTO the treasury, while IN the other class tho
the quantity imported, but the qantty made at home
This las. tax paid not TO the treasury but 70 the manu-
oturer thereby rendering such duty not only burden
but grossly unequal the home producer beng bcnc
fitted at the expense q the consumer.
IL these principles are sound, Is obvious that no tariff
strictly for revenue has over yet been enacted in the
United states.
The early egsatcn OF the country contemplated other
objects such fostering then infant manufactures
ana encouraging the production OF indispensable articles,
70 render country independent e foreign
The objects which originally led system Of duties
have long since been attained but under that system large
interests have grown up which have always Gained and
received such consideration from Congress
the absndcnment Of the idea Of protection.
do not expect that tariff will be framed on rigid
revenue principles bul in all changes an effort should be
made a, teas, TO avoid further departure from them
Assuming that the general principles Of the present IA
rn act will be adhered 10, ali vii admit that having
ascerancd the additional revenue required accurately
possible, the least increase OF duty tina, viii tho
srm = the proper rate 70 be adopted
In determining, however, wha, ar,clcs the duty is
TO be increased strong appeal VII doubtless be made
90 discriminate ia Afford relief certain interests
said 20 be unusually depressed.
II aieriOi Of seaei financial distress such
10, yet entirely passed each interest in the country nau
RAINY isc.s The want OF soy aid that would rceve Ia
embarr s'oen.s aud restore s Prosperity In rcspoad.
Dg to such demand should te takca afford
TIC REQUIRED relief at thu expense vi nnrr nicrcst equal
" II WAX 81 assistance, and equally entitled N receive
At the hands u the governments. When general caan
4, parayscd the hand Of industry and rramed the
cneree e. Of the people IL unfortunate thar n such
time, when the country "a least able 10 bear Il, the
waits Of tie rovcrrmcni should force ofaxa
ton In yielding 10 tic Necessity which ceupcs the i'm
position " TIE burden, let Il be done with that spirit of
justice Which rcgards with equal care and protection all
the varied gtcrcsts a the country.
N couuoci.on with this braucl u u. subject would
respectfully tctes 10 the views presented 10 Las, annu
also subject u rcsrc, that publc necessity re.
pnres revision 0f Tie 'ar nc, of 1857 before asuicent
tine has elapsed 70 ts ~ legitimate effects upou the bust
" the country vel as the o. the govern
ment fasc impress ons as 90 Incorporation mast be
fully guarded against. Tho fact that this act went into
cp0rgaOE the lst * July, 1851 aud follow ii 80
by tie sastr0ls revnlsiou OF hat year has In.
duccd maoy resons to Deeyc that the one was the Noes
cary ol the other The advocates Of high proec
tive aTr haze not failed avail Themselves - this cir
cumsarcc a. press upon the public mind neir peculiar
system q aGordibe relief to Distressed people by
increasing their taxes Eyery interest in The country
which suffered In the general calamity has been
earnestly aFpcaied 70, aud 90 Efforts have been
spared q induce each and all 10 believe that their sor
have been produced BY tho passage o the tariff 81
1857. There Is, however, important Iout Ia tic
guuen where the logic Of the prolcc0nss " wholly az
fault the revus.on not confined 20 the United Staes.
even 10 this Continent II swept the world aud
fer With equal perhaps greater severity II other
countries THAI our rhes. results have been too
universal 70 have been brought about by reduction OF
about twenty celt upon the rates o duty n the Uact
states beng reduction 81 about Eve per cert upon
mpcrtatons. fhc arramsnt Of the proecooss u, that
reelection Of our eutcs stimulates the foreign trade and
~ tbs instance ~ heimalc elect sbeud have been ~
relieve the ,mbarrs smcbts Of the countries with whom
We trade by o. Mug arg matkut fnr ter productions.
They charge mat the Increased importation ~ foragn
goods Into M country sasrcus ~ the business OF the
home producer and Manufacturer by dcprvinR them Of
the markets II Their country such Ii the theory VI
tte rotectonts lat apply Ia IL the facts which have
The az tho tariff OF 1851