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THE CONSTITL t TIOxNALIST7|
JAMES GAKUNER, Jk.
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[* romjhe Washington Union. ]
Annua! Treasury Report-
Treasury Department, Doc. 8, 1817.
In nhe lienee to law the following report is respectful
ly submitted :
The receipts and expenditures for the fiscal year ending
June 30, 1847, were :
From customs $23,747,864 66
From public lands 2,198,355 2o
From miscellaneous sources 100,575) 51
From avails of treasury notes and loans.. 25,679,199 45
Total receipts 52,025,989 82
Add balance in the treasury July 1, 1846,, 9,126,439 03
Total means 61,152,428 90
The expenditures during the same fiscal
year were 59,4.51,177 65
J _ |
Leaving a balance in the treasury July 1,
1817,0 f. $1,701,251 25 1
As appears in detail by accompanying statement A.
The estimated receipts and expenditures for the fiscal ■
year ending June 30, 1848, are ;
From customs, first quarter, by actual re
turns $11,100,257 41 ;
From customs,for second,third, and fourth
quarters, as estimated.. 19,893,742 59 1
31,000,090 00 j
From sales of public lands 3,500,000 00 1
Prom miscellaneous sourcce 400,000 00 |
Total receipts 34,909,000 00
From avails us treasury notes and leans.. 6,235,294 55
.. !
4J, 185,294 5:5 i
Add balance in the treasury, July 1,1817. 1,701,251 25
Total means, as estimated 42,886.515 80
Expenditures, viz:
The actual expenditures fir the first
quarter, ending September 30, 1847, were
$16,469,194 69, us appears m Jciad by ac
companying statement B.
The estimated expenditures for the pub
lic service during the other three quarter-,
from Ist October, 1847, to 30th June, io4B,
are:
Civil list, foreign intercourse, and nrisrel
laneous -.55,486,180 42
Army proper, including
volunteers...... 19,080,8 .5 58
Fortifications, ordnance,
arming militia, &.C 2,036,446 5 )
Indian department 1,720,660 26
Pensions 1,063,523 66
Naval establishment 10,241,072 47
Interest on public debt and
treasury notes ...- 2,250.577 lo
Treasury notes outstand
ing and payable when
presented 967,139 31
* .
Excess of expenditures over means 1.-t
July, 1818 $15,729,114 27 '
Tlie estimated receipts, means, and expenditures fc*r
the fiscal year commencing 1.4 July, 1318, and eliding
3nib June, 1849, are ;
From customs .-.532, 090,000 00 .
From sales of public lands 3,009,000 00 ,
From miscellaneous sources ,v. 100,OuO 00
Total revenue ...,..$35,100,000 00
Deduct deficit Ist July, JB4S 15,729,114 27 |
s*9-370,885 73
Expenditures.
The expenditures during the same period, as estini ited
by the several Departments of Btalc, Treasury, War,
Navy, and Postmaster General, are :
The balances of former appropriations, which w ill be r< - !
quiredto be expended 111 this year $1,475,210 77
Permanent and indefinite appropriations.. 4,587,577 89 ,
{Specific appropriations asked fur this 49,582,153 13
$.*5,644,941 - 2 >
This sum is composed of the following particulars :
Civil list, foreign intercourse, and miscel
laneous $5,613,061 52
Army proper, volunteers, and military
academy 32,007,028 42
Fortifications, ordnance, arming militia,
&.c 2,045,169 90
Pensions,.., 1, 94,318 84
Indian department 926,401 81
Naval establishment. 10,905,568 55 ;
Interest on public debt and ituasuty notes 2,453,402 (8
$5.5,641,911 72
Deduct means remaining aj>plicable to eer
vice of fiscal year ending 30iu. Jun*-, J 84- 19,379,885 73 j
Excess of expenditures over means Ist
July, 1849 $36,274,055 09
*******
The new tariff has now been in operation
more than twelve months, and has greatly
augmented the revenue and prosperity of the
country. The nett revenue from duties (sea
table N X) during the I*2 mouths ending Ist
Dec. 1847, under the new tariff, is $31,500,000;
being $3,528,596 more than was received dur
ing the 12 twelve preceding, under the tariff
of 1842. 'The nett revenue of the first quarter
of the first fiscal year under the new tariff was
$11,106,257 41, whilst n the same quarter of
the preceding year, under the tariff of 1812,
the nett revenue was only $6,153,826 58. If .
the revenue for the three remaining quarters
should equal in the average the first, then the
nett revenue from duties during the first fiscal
year of the new tariff would be $44,425,029
64. If, however, she comparison is founded
on all the quarterly returns for 48 years, (us
far back as given quarterly in the Treasury
records,) and the same proportion for the sev
eral! quarters applied to the first quarter of
this year, it would make its nett revenue S4O,- |
388,015 (per table C.) Although the nett
revenue from duties already received, being
$15,506,257 41 during the five months of this
fiscal year, would seem to indicate its probable
amount as not less than $35,01)0,000 ; yet it is
estimated at $31,000,000 for the fiscal year
ending 30th June, 1848, and $32,000-;000 for
the succeeding year, in view of the possible
effects of the revulsion in Great Britain. Al
though our prosperity is ascribed by some to
the famine there, as though Providence had
made thei-advance of one country depend uj on
the calamities of another, vet it is certain that
our trade with Great Britain must be greater
in a series of years, when prosperity would
enable her to buy more from us, (and cspeci- j
ally cotton, ) and at better prices, and sell us
more in exchange, accompanied by an aug
mentation of revenue.
In my report of 22d July, 1816, it was
shown that the annual value of our products
exceeds three thousand millions of dollars.—
Our'population doubles oucoin every 23 years,
and our products quadruple in the same pe
riod —that being the time within winch a sum
compounding itself quarter-yearly at six per
cent, interest will bo quadrupled—as is sus
tained here by the actual results. Os this
three thousand millions of dollars, only about
$150,000,000 was exported abroad, leaving
$2,850,000,000 used at home, of which at
least $500,000,000 is annually interchanged
between the several States ot the Union.
Under this system, the larger the area, and
the greater the variety of climate, soil, and
products, the more extensive is the commerce
which must exist between the States, and the
greater the value of the Union. 5\ e see then
here, under the system of free tiade among
the States of the Union, an interchange of
products of the annual value oi at least $500,-
000,000 among our 21 millions of people;
whilst our total exchanges, including imports
•od exports, with all the wo: - ! I besides, con
taining a population of a thousand millions,
was last year $305,19 4,260, being an increase
since the new tariff over the preceding year of
$70,014,647. Yet the exchanges between our
States, consisting of a population of 21 mil- j
lions, being the yearly value of $500,000,000
exchanged, make such exchange in our own
country equal to $23.81 per individual annu- \
ally of our own products, and reduces the ex
change of our own and foreign products, (our
imports and exports,) considered as $300,000,
000 with all the rest of the world, to the an
nual value of thirty cents to each individual.
That is, one person of the Union receives and
exchange annually of our own products as |
much as 79 persons of other countries. Were j
this exchanges with foreign countries extended
to ninety cents each, it would bring our imports j
and exports up to $900,000,000 per annum, i
and raise our annual revenue from duties to a j
sum exceeding $90,000,000. An addition of
30 cents each to the consumption of our pro- j
ducts exchanged from Mate to State, by our j
own people, would furnish an increased mar- j
ket of the value only of $6,300,000, whereas an I
increase of thirty cents each, by a system of j
liberal exchanges with the people of all the j
world, would give us a market for an addition
al value of $300,000,000 per annum of otir
exports. Such an addition cannot occur by
refusing to receive in exchange the products
of other nations, and demanding the $300,-
000,000 per annum in specie, which could
never be supplied. But, by receiving foreign
products at low duties in exchange for our ex
ports, such an augmentation might take place.
Yhe onlv obstacles to such exchanges are the
duties and the freights. But the freight from
New Orleans to Boston differs but little from
that between Liverpool and Boston ; and the
freight from many points in the interior is
greater than from England to the U. States,
Thus the average freight from the Ohio river
to Baltimore is greater than from the same j
place to Liverpool ; yet the annual exchanges j
of products between the Ohio and Baltimore
exceed hv many millions that between Balti- |
more and Liverpool. Ihe Canadas and adja
cent provinces upon our borders, with a pop- i
illation less than two millions, exchange im- j
ports and exports with ns less in amount than
the State of Connecticut, with a population of ;
800,000; showing that if these provinces were j
united with us by free trade, our annual ex- j
changes with them would rise to
It is not the freight, then, that creates the |
chief obstacle to interchanges of products be
tween ourselves and foreign countries, but the
duties. When we reflect, also, that exchange
of products* depends chiefly upon diversity—
which is greater between our country and the
rest of the world than between the different
States of the Union* —under u system of re
ciprocal free trade with all »he world, the aug
mentation arising from greater diversity of |
products would equal the diminution caused l
by freight. Thus the Southern States ex- j
change no cotton with each other, nor the
Western States flour, nor the Manufacturing
States*like fabrics.* Diversity of products is
essential to exchanges; and if England and j
America were united by absolute tree trade,
the reciprocal exchanges between them would '
soon far exceed the whole foreign commerce of i
both ; and with reciprocal free trade with all
nations, our own country, with its pre-emi
nent advantages, would measure its annual
trade in imports and exports by thousands of
millions of dollars.
In my fast anmial report, and that which
preceded, it was proved that the home market
was wholly inadequate for our vast agricultural
products. We have long had for grain and
provisions the undivided market of our own
people. But these are not sufficient; and in a
single year, w - e have, with abundance of food
retained at home, supplied tlie -world with an
addition at once during the la>t year, as shown
by table A A, of $4-1,332,282 in value of bread
stuffs and provisions bringing the value ex
ported that year up to $65,-996,2X3- Our
manufacturers could not have consumed this
| surplus, or their Hon-consuuuMg machines,
which arc substituted in their workshops for
j the labor of man. If thc cnhrgy of our own
! people can add $41,332,28-2 to the export and
' supply es our breadstuff’s aiAl provisions in a
. single year, what could they not add to such
1 products if they enjoyed free of duty the mar
kets of the world r By ttvble 88, it appears
that the augmentatioivof our domestic exports,
exclusive of specie, last year, compared with
the preceding year, was $48,856,802 or up
wards of 48 per cent.; ami at the same rate
percent, per annum of augmentation- would
amount in 1849, portable C C, to $829,959,-
993, or much greater than the domestic ex
port from State to State. (See tables from 7
to 12, inclusive.) The future per ccutage of
increase may not be so great; but our capacity
fur such increased production is proved to ex
ist, and that we could furnish these exports
far above the domestic demand, if they could
be exchanged free of duty in the ports of all
nations.
The energetic American frccmail'cari and docs
perform far more effective labor in a day, than
what is called by the restrictionists the pauper
labor of Europe ; and theretofore, the employ
er here can pay more for a day’s toil to our
j workingmen. Measured by the day, the wa
-1 ges here may he higher than in Europe; but
measured by the work done on that day
there is but little difference. all our
capitalists (as some already have) shall find it
ta be their true interest, in addition to the wa
ges paid to the American workman, to allow
him voluntarily, because it augments the pro
fits of capita!, a fair interest in those profits,
and elevate him to the rank of partner in the
concern, we may thou defy all compretitiou.—
This is the same principle illustrated by uni
form experience, proving that he who rents
his farm, builds his house, sails his ships, or
conducts any other business upon shares, re
alizes the largest return; and that he who
works by the job produces more in the same
time than the laborer whose wages are paid
by the day. The skill, energy and industry,
the interest and pride in success, the vigilance
and perseverance that will be manifested by
our intelligent workingmen under such a sys
tem, will far more than refund to capital such
resaonable participation in its profits, and ena
| ble such American establishments to sup
ply all the nations of the world. The intro
duction of this system will be voluntary, be
cause it is most just and beneficial to all par
ties. It is the participation of all our people
in the government, that is one gve it cause of
our prosperity; and the participation of our
j workingmen iu the profits of our industrial es
tablishments would exhibit simular results.—
Our w hale and other fisheries present strong
evidence of the success attending American in
dustry, when our intelligent freemen—the
working men of the concern —stimulated by a
just participation in the profit, have driven
from the most distant seas the whale ships of
most other nations, and nearly monopolized
this pursuit. The intelligent workingmen of
our country are far better prepared for the
adoption of this truly republican system
than those of any other nation; and this
elevation of the toiling millions of America
to a just participation iu the profits of that
capital which is made fruitful only by their
industry, will yet enjoy as great a triumph as
that unfettered trade and untaxed and un
restricted labor with which it ought to be,
and certainly yet will be, proudly associated.
Under this system, the laboring men, w hilst
they receive the full wages heretofore allow
ed them, would also participate to a reasonable
extent in the profits, as an addition to their
wages, and a most powerful and certain stimu
lus to render their labor more productive, and
thus increase, for the benefit of all concerned,
the capitalists and workingmen, the profits ot
the establishment. What is called the pau
l*r labor of Europe is already inferior to our
labor, but would be rendered still more pow
erless to compete with us when labor here
participated with the capital in the profits.-
When we reflect that the working freemen of
the Union must constitute the great mass of
the people, whose votes will control the goi -
eminent and direct the policv of the nation,
the superior comfort, education intelligence,
and information necessarily resulting to them
from this improvement ot our social system, is
important to the successful progress and per
petuity of our free institutions, and must be j
| grateful to every republican patriot and lover j
of mankind. \\ hilst all bavc defiicd gicat
benefits from the new tariff, it is labor that
has realized the largest reward. It was con
tended by the advocates of protection, that it
enhance I the wages of labor, and that low du
ties would reduce wages here to the rate al
lowed for what they call the pauper labor of j
of Europe. On the contrary, the opponents
of high tariffs insisted that labor, left to seek
freely the markets of the world, would find for ,
its products the best prices, and as a conse
quence the highest reward for the labor by
which they were produced. The duties have
been reduced ; and yet wages have advanced, j
and are higher now than under any protective
tariff. There are many more working men
concerned in other pursuits than in manufac
tures, and with much less of machinery as a
substitute for labor ; and by depressing agri
culture, commerce, and navigation—by res
tricting their business and the markets for
their products —the wages of those engaged in
such pursuits are reduced ; many workmen
also lose employment; and competing for
w ork in manufactures, the wages of all are di
minished.
It is not only the reduced duties that have
; produced these happy results, but the mode j
of reduction—the substitution of the ad va
i lorem for unequal and oppressive minimum
and specific duties. The higher duty was thus
j always imposed, by the very nature of the
j duty, upon the article of the lowest value,
consumed by the poor; and the lower duty I
assessed upon the article of the higher value, j
used by the more wealthy, often operating as j
a dutt r of 10, 20 or 30 per cent, noon the high I
priced goods, and of 100 or 200 per cent, ad
valorem upon articles of lower price. Nearly ■
the entire burden of the tariff was thus thrown
upon labor, by who*e wages chiefly the cheap
er articles were purchased; whilst capital with
whose profits the more costly goods were
bought, was almost exempt from the tax. It
never would have been tolerated to have im
posed a duty of 10, 20 or 30 per cent by name 1
upon costly articles, and of 100 or 200 per
; cent, upon cheaper fabrics, where the ad va- i
i lorem-rates would have exhibited the injus
tice and inequality of the duty; but it was
accomplished by minimum and specific du
-1 ties, which assessed a higher duty in propor
tion to value Upon the cheaper articles, and ,
: the lower duty upon similar articles more
costly in price; thus imposing the higher duty
upon the labor and the wages of labor, as
| effectually as though the tax-gatherer had
collected from the workingman a third or
fourth of Ins wages every day/ whilst capital
was comparatively exempt from taxation.—
Such is the system which has been overthrown
by the substitution of the reduced ad valorem,
operating the reverse of the former system, in
favor of the poor and the wages of labor, a#
far as any tariff can so operate, ami air wc see,
even, with? lower duties collecting a larger rev- I
I euuo. A tax in proportion to the value of j
imports or property, must always be more pro- |
ductive than one which is the reverse of that
rule, or which disregardant altogether Time.- j
if wo impose a tax of ten dollars each upon
1 a 1 houses, it must produce less revenue than
the ad valorem tax in proportion to value; be
cause the former tax would fall most heavily |
upon the poor, who were the least able* to
bo u it, and more lightly upon the wealthy,
, who had greater means of payment; and
i thereby revenue would be diminished. Thus*, ,
it the tax of ten dollars were imposed alike oiV
j the cabin and the costly dwelling, it would
bring less revenue than if the same rate ad va
lorem, beginning with the lowest at the rate
j of tea dollars, were assessed in proportion to
value upon all houses. Indeed the tax upon i
I the cabin might be reduced to a dollar, or say
OiU/pef cent and applied ad valorem to all
dwellings, and it would yield a larger revenue i
than the anti-advulorein specific tax of ten
dollars upon all houses, irrespective of their \
value, which is no more unjust ot unequal
than the same minimum or specific duties up
on hats, caps, boots, shoes, &c., and like arti
cles of import, without regard to their value.
The ad valorem duty incorporates itself inse
parably with the exact value of the article,
and collects the tax in exact proportion to
the value; the form of which, of all others;
i must yield the largest revenue. Perhaps t?h4
| most perfect model of au-anti-advo-loreliv tar
iff was that that of New Mexico, by which a
duty of SSOO waft imposed on each wagon load
of goods introduced there wholly irrespective
; of their value.
The great argument for protection is, that by
diminishing imports, the balance of trade is
turned in our favor, bringing specie into the
country. The anti-protectionists contend that
commerce is chiefly but an exchange of im
ports for and that, inHliminlshing iml
- we will necessarily decrease exports in
quantity or price, or both; that if we purchase
; more imports, we will sell more exports in ex
| change, and at a better price; and that if com
| merceis profitable; we should-have a larger ba
-1 lance of trade in our favor, and usually larger
imports of specie; and that the profits of eom
! merce.in the increased exchange of our own for
i foreign products, augment the wealth of the
nation. The four protective tariffs were
j enacted in 1816, 1824, 1828, and 1812. The
compromise act intervened from March, 1833,
I until after the 30th of August, 1842; and the
revenue tariff of 1840 went into operation last
j year. Let us now look at the effect of high
I and low tariffs upon the gain of specie during
these periods, from 1821, being the earliest
; date to which- the records of the Treasury go
back on this subject. From the beginning of
1821 until the commencement of 1833, ami
1 from 30th September, 1842, until Ist July,
I 1846, our excess of the imports of specie over
the export was $12,600,312, being an average
annual gain of $791,210 in specie during these
sixteen years of high tariffs; whilst the excess
of specie during the eleven years of the com
promise act of 1833, and low' tariff of 1846,
was $08,507,630; and the average annual gain
of specie was $6,227,967, Omitting the tariffs
of 1842 and 1846, and comparing the ten years
of comparatively low' duties from 1833 to 1842,
with the twelve years under protective tariffs
from 1821 to 1832, we find under the latter an
actual loss of specie to the country by the ex
-1 cess of the exports of specie over the imports,
of $3,851,652, as the result of protection,
and a gain, during the succeeding ten years of
comparatively low duties of $46,294,090, or at
the rate per annum of $4,629,409, and in the
single year under the new tariff a gain of $22,
213,550; thus exhibiting a uniform gain of
specie in the years of low', as compared with
high duties. The protective theory, founded
upon this assumed balance of trade and gain
of specie under high tariffs, is disproved by
the results; and it is shown, by the experience
here of more tlian a fourth of a century, even
as to specie, that it accumulates most rapidly
by the gains of trade under a liberal commer
cial policy. Let us now see, under the same
cycles of free trade and protection, whether
it is true, as contended, that our domestic ex
ports are not diminished by the restrictive
system. . , ,
The records of the treasury do not go back
beyond 1821 as regards our domestic exports,
exclusive of specie* AVe must, therefore? make
the comparison from that date. From 1821 to
1832, botli inclusive, under high duties, the
aggregate of our exports ot domestic products,
exclusive ot specie, was $653 ; 157,52 1 , or at the
rate of $54,429,791 per annum; from 30 h
September, 1842, to 30th June, 1840, $377,
391.500, or at the rate of $94,347,875 per an- I
mini; making a total aggregate during these j
sixteen years of high duties, of $1,030,549, j
027, or at the rate of $64,409,314 per annum.
During the compromise act—from 1833 to
30th September, 1842 —the total of these
exports was $950,168,288, or at the rate of
$95,616,828 per annum; and in the year end
ing 30th June, 1817, $150,574,844; making, I
in the eleven years of low duties, an aggregate
of $1,106,743,132, or at the rate of $100,613, |
012, being an average gain under low, as com
pared witn high duties, of domestic exports,
exclusive of specie, of $30,203,098 per annum,
; excluding altogether the last year, a gain of
$31,207,514 per annum under low, as compar
ed with high duties.
Having thus shown, both as to specie and
domestic exports, the great gain in years of
low as compared w' ta high duties, let us now
compare the low duty and high duty cycles us
to our tonnage, foreign and coastwise.
During the eigthtecn years of low duties
from 1789 to 1807, (see table MM,) out ton- j
| nage increased at the rate of 29,41 per cent,
per annum; from 1832 to 1812, at the rate of j
4,53 percent, per annum; and from 1846 to i
1847, 10,81 per cent, in a single year. Such
has been the uniform high rate of increase of
our tonnage during every period of low duties.
Now, under high tariffs, from 1816 to 1832,
our tonnage increased 0,30 per cent, —being
less than one-third of one per cent, per annum;
and from 1842 to x 846, at the rate of 5,61 per
cent, per annum. If it is said that the increase
from 1789 to 1807 was occasioned, to some ex
tent, by the war between France and England,
this table, which is taken from the records of
the Taeasury, shows that from 1789 to the
close of 1792, immediately preceding that war,
which was declared early in 1793, our tonnage
! increased at the high rate of 60,13 per cent,
per annum, when France and England were
at peace, before the era of steam navigation,
' and before the acquisition of Louisana, and ;
the addition of the great Mississippi and of the
Mexican Gulf to the navigable waters of the
. Union, and when our flag was unknown on
the great Lakes of the Northwest* The great
increase is un form at all times under low
i duties, and depressed under high duties,
during the whole period of 53 years, from |
1789 to 1847.
It is urged, howevea, that although out for- |
eign commerce may have decreased, yet the
home market has augmented in a ratio more (
than equivalent to the loss of our foreign trade.
If this were so, it would be exhibited in
1 the augmentation of our coastwise trade,
embracing our lakes and coasts, as well as ri
vers, the coastwise tonnage of course augment
ing in the number of vessels with the goods to
be transported between the States. Byrcior
ence to the same tables, it appears that our j
coastwise tonnage increased, from 1789 to 1807 |
at the fate of 22,71 per cent, per annum, from
1789 to 1792 at the rate of 25,23 per cent, per :
annum, from 1832 to 1842 at the rate of 6,09
per cent, per annum, and in the single year
from 1-846 to 1847, 13; 15* per cent. Suoh was
fixe'great and uniform- increase of our coast
wise tonnage under low duties.- Now, under [
high duties, the increase* from 1810 to 1832
was at the rate* of 1,50 per cent per annum,
and from 1842 toISJ-fi, a.-WPer cent, per an
ti. num.- Thus we sec an immense increase/under
low as Compared with high dirties; of the coast
* wise tonhage; ; proving that the paralysis ot for
eign-commerce, resulting from the restrictive
! system,-affects injuriously the home* market
and flic trade between the State*?, and furnish
ing a demonstrative proof that! whether U'e 1
j look y*f home or abroad, we’ progress nfore
! irpir) y UL.rlci* a liber.il commercial policy.- A-s i
the’foteigiv tonfrage rose under low duties, (as
the table proves,) so did the coastwise, and-a*
the foreign tonnage declined, so also did the
coastwise tonnage; and during the high duties
; from 1313 to 1332, whilst the foreign tonnage
actually dccr. p.sed at the rate of 0,83 percent,
i per annum, that of the coastwise tonnage only
in •: e iscd at the rate of 1,50 per cent, per annum,
j Y t,during that perio I, the increase of the coast
! wise trade ought to have been immense, includ
ing as it didy the era of the introduction of
steam navigation l to a - vast extent upon the
rivers of the west, as also upon? the lakes of the
i northwest, and the opening of the great canal
of New York.
It is said that the famine in Ireland- was the
sole cause of our late large export of bread
stuffs and* provisions.' Now, from 1700 the
values ate not so as to be stated in amounts,
but the quantities arc; and these prove that,
even omitting the last year altogether, and
| comparing the low duty periods from 1790- to
1807, and from 1833 to 1842, with the ycars-of
protection from 1817 to 1832, and from 4842
to 1346, the average export of breadstuff's and
provisions was much larger in* the" years of
low as compared with 1 high duties, especially
considering the difference of population.
As still more conclusive proof that the ex
! port of breadstuffs and provisions was much
| greater under low than high ditties, it appears
by table D D, that our total export of cotton
j from 1790 to 1807, both inclusive, was of the
; value of $81,074,843 ; and during the same
| period our export of domestic produce, ex
| elusive of cotton, was
our exports of domestic produce, exclusive of
I cotton, at the rate, from 1790 to 1807, of $29,-
i 467,285 ; which it will he perceived at once,
j vastly exceeds the average annual exports of
' domestic produce exclusive -of cotton under
years of high duties.
Indeed, the tables of the Treasury clearly
prove that —whether we look at imports or
exports, the revenue, the gain of specie, the
• tonnage coastwise or foreign, the coinage at
the mint, or the export of breadstuff’s and pro
| visions—the balance is largely in favor of the
low duty periods.
The department has thus reviewed the books
of the Treasury, and presented the results,
constituting the record of a nation’s history
from the foundation of the government down
to the present period, in condemnation of the
protective policy. These records show as to
imports and exports, revenue, the gain of
specie, the tonnage foreign and coastwise, the
rate of increase in each and all of these cases
is greater under low than high duties. These
records are not arguments merely, but ascer
; tained results, amounting to mathematical
proof that the nation’s advance in wealth is
) most rapid under low duties ; thus sustaining
ing the view's of those great philosophic wri
i ters, unconnected with party, w r ho, both in Eu
rope and America, have uniformly maintained
; the same position.
( To be Concluded in our next.)
The Stephen AYhitxey.—The cargo of this
vessel, the wreck of which we noticed, yes
terday, consisted of 700 bales of cotton ; 17,000
bushels Indian corn; 500 bbls. rosin; 2,200
boxes cheese; 220 bbls. apples; 100 kegs of
butter, flour, besswax and merchandise. The
insurance, as fax- as ascertained, which is be
lieved to be correct, is as follows: On the
ship, $60,000; on the cargo, $50,000; freight,
SIO,OOO.
The folio wing statement is published on au
thority of the owners of the Stephen Whitney :
The Stephen Whitney was on her 47th
voyage across the Atlantic when she struck.—
She w'as owned by Messrs. Robert Kermit,
Joseph Sands, Isaac Harris, William Aymar !
and Capt. Popham, and was insured in Wall
street. Capt. Charles W. Popman, the mas
ter, who peri-hed with his ship, was an active,
persevering, cracful seaman, and about 40
years of age.—iY* V. Jour. Com., lUh last.
off.— Polly and Betsy s3^, the former t
wife of Michael lit*, are advertised in a west
| ertt paper, ax having eloped* Michael will re- |
; cover Polly, we hope, for though it it not said
i whether she is she is represented as
: being SPy. Probably if Airs. £JP* could tell
her own story, she would say that she left
Mr. S'iP for being too frequently Ui^*cuffed. !
At any rate, as her situation is described, she
ought to be roughly tilled.
August a, (Georgia.
YHUISDAY MORNING, DEC. 16.
tYU We received last evening no mail from
offices north of Charleston. The steamship i
Northerner, arrived at that port, brought New
York paper of the 11th inst.
Treasury Report-
AA e give in this day’s paper a portion of the
able report of Secretary Walker, and will give *
the remainder in our next. We are necessarily
j compelled to omit a large portion of it on ac
count of its great length. The portion we
I publish relates to the operations of the new
] tariff, and should be attentively read by all.
The Shields Dinner-
AYc were disappointed in procuring the
toasts drank at the above dinner on Tuesday
last. Some few were handed in, and we pub
lish them as a specimen of the whole.
By AY. T. Gould, Esq. — The Laurel and the
Shamrock —Fit wreath for the brow of him,
who wears the one by birch, and bought the
other with blood.
By John J. Flournoy, Esq.— The American
Banner —Luckless be the stars, and many the
stripes, of him who Jiajs beneath its glorious
folds.
By J. S. Pulsifer. — I Yoman —One of the
shields which M ill carry a man through the
battle of 1 fe voluntarily.
After Gen. Shields had concluded his reply
to the handsome address of our worthy Mayor,
the following toast was given :
By Dr. J. F. Griffin, of Hamburg* — lreland — j
Long famed as- the land of song, may we not
1 equally asaeigu to her a birthright for heroes
I and orators- r
Snow! Snow!
AYithin the last twenty-four hours we havt
i had quite a change in the weather. From
sultry sfrm-mer, we yesterday felt cold, pierc
pig winter, an I about one o’clock it com
menced snowing., an I for an hour or two con
tinued, just covering the ground in spots so
that it could be discerned* In- the afternoon
j [t ole ired off, and the moon shown in all her
! brightness.
The following gentlemen were elected
: Directors of the Augusta Insurance and Bank
i ° #
ing Company, on Monday last, viz : A\ M. M.
D’Axtigxac, Hates Bowdue, L. HoFkixs,
Lewis Chess, and James Hope ; and at a meet
ing of the Board, Mr. AYm. AI. D’Axtigxac was
I unanimously re-elected President.
C. F. M. Gakxett, for several years past,
Chief Engineer on the Western and Atlantic
Rail Hoad in this State, has been elected by
the Board of Directors, Chief Engineer of the
! Columbia and Charlotte Rail Road, in South
. CavdK-na.
AYm.- L Mitchell, Esq./ of Athens, hnft
been-appointed by Gov. Towns, Chief Engi
neer of- the State Rood/ iff place of Air, Gar
nett.*
The’Bank of Hamburg, S. C., has declared
a divided of* $2-* pc? share ; being at the rate of
4 per ct. fur thb Ihs-tf six months, payable oh
or after the first* of Jahhihry, 1848/
The following is aiv cXtratt ofa Tetter from
a most respectable source/frmtished-to the New
York Journal of Commerce:
London, Not. 18, 1847.—1 t is not easy to
say what can be done by Parliament for rail
ways. One remedy may be to give - them seven
or eight years to finish what tffrey nTC'now re
quired to do in two or three. Reckoning from
the commencement,the engagements of capital
in this country for railways, at home and
abroad, amount to three hundred- million
pounds ,half of which is already p;tid.- The
future payments Will be diminished by the
abandonment of many undertakings.
Alabama
The Legislature of Alabama? on Saturday,
went into an election fora United States Sen
ator for the vacancy occasioned by the expira
tion of Air. Lewis’ term. The Journal gives
the following result of the first three ballots :
Ist 2d 3d
Hopkins, (AYhig,) 48 do 49
Lewis, (Deni.) 50 do 50
King, (Dcm.) 34 do 33
The Press and the Message-
The N. Y. Sun says—From every quarter our
exchanges are pouring in laden with approba
tion of the Alcssage. The democratic and in
dependent press, without exception, and a
large number of whig journals pronounce it
able, explicit and patriotic. Its bold American
views of the war, territorial acquisition and the
future policy of the United States as regards
the attempt of any European power to estab
lish a monarchy in Alexico K will strike a sym
pathetic cord from the heart to the extremities
of the nation. By those who think profound
j ly, without being partizan, it is considered a
masterly effort, aiming at no display but clear
ness and truth. Eminent as were the respon
sibilities depending upon every word uttered
by the President in relation to the war, he has
not shrunk from assuming the consequences
of an explicit committal, but like a true hero
in the hour of peril marked out the way and
called upon the nation to follow. And follow
it will! Henceforth we look upon Alexico, or
at least as much of Alexico as is claimed by the
Message as, ah integral part of this Union. It
is American Territory bej'ond a question, and
prospectively, the rioht of way from the Gulf
to the Pacific is a certainly ours as is the navi
gation of the Hudson. Happy will it be for
j Alexico if she avoids dismemberment by com
ing soul and body into the. Union.
Astonishing* Speed
The Express with the Presidents Alcssage
was forwarded from Philadelphia to New
| York by the 'Camden and Amboy ahdf New
Jersey Rail Road Companies, in the surprising
| ly short time of 2 hours and 50 minutes— the
quickest trip ever made.. It left the rail road
i wharf, at the foot of Walnut street, at 6h. 48m.’
on Tuesday, and reached New York at 9h. and
35. Allowing about 17 minutes loss for the
- passage of rivers, the rate of speed was nearly
38 miles per hour.
y Factories
i Fayetteville is becoming a manufacturing
town. A new Cotton Mill has just been put in
to operation Under the sUperintcndance of Mr.
| Baldwin, which has cost $30,000; and another
is to be erected in the course of the frying,
and also an iron foundry. This will make ten
manufacturing establishments, (says the North
Ca o l inian) on alarge scale, in and near tho
town.
GEOR3IALE CrISL ATCJHE
IN MOUSE of representatives.
Monday, Dec. 13,
Mr. Pinckard introduced a bill to, alter and
| amend the 11th section of the 10th Division
| es the Penal Code.
Mr. GaUlding laid upon the table a resolrt-*-
tion which was read, and agreed to directing
the convening of the House of Representatives
at 9 A. M., 3 P. M., and G£ P, M,
Mr. Phillips introduced a bill to amend art
act organizing the Lunatic Asylum.
Mr. Mclntosh to provide payment for teaclw
ers of poor children in the county of Elbert
for 1839 and 1810.
Mr. Rattle introduced a bill to incorporator
Hiram Chapter No. 5, and Motifro’c Lodger No.
18, Os Monroe county.
Mr. Cameron introduced a bill amendatory
of an act incorporating the town of La Grango
in the county of Trofi’p.-
Mr. Shojkley introduced a bill to repeal tho
charter of the Central Rank of Georgia, and
for Other purposes.-
Mr. Jackson, of Walton', from the Special
Committee, to whom was referred several bills
having for their object the charigc - of the Con
stitution, reported tlvem back to the House
i with amendments;- and which were made tho
I special order for Friday next.
Also, Mr. Jackson, of Walters, itffreduced a
bill to explain an act declaring and making
certain the : kiW deftrsing the liabilities of en
dorsers and securities to promisory notes, and
i other instruments, whert the holder thereof
shall fail to proceed to' collect Che' same after
j notice, approved Dec. 26th, 1831.
Also, a bill to explain the sth section of an
act approved March 26th, 1767, entitled “an
1 act for the limitations of actions,-and for avoid
ing- stilts- in- tew.
Also, a bill to alter and' amend the Road
Laws of this State, so far as relates to the
| county of Union.
The Committee appointed to notify tho
Hon. Mr. Whitesides, a member of the Ten
nessee legislature, delegated to present cer
tain resolutions of that State to the considera
tion of Georgia, appeared at the Bar thereof
with the gentleman, and through their Chair
man. Mr. Bartow, introduced him to the
House; He" answered the body, and was in
vited by the Speaker to a seat.
The special order of the day, on the bill to
remove the scat of Government, was taken up,
and the House adjourned without taking »
vote. ,i %
Special Notices.
(IT We are authorized to auliimtire
E. C. Ti.vslkt as a candidate for tlie office of Tax
! Collector, at the election to be field 'lit January
next. He will be supported by
Dec. 16 * MANY VOTERS.
[U We are authorized tb ; atinoimre*
I Alexanhek Philip, as a candidate for tbe office
of Receiver of Tax Returns for Richmond county,
at the election in January next. Dec 15
(FT We are authorized to announce
MIDDLETON SEAGO, as as candidate for the*
office of Tax Collector of Richmond county.
Dec. U VOTERS.
OCT We are authorized to announce-
GIDEON G. BUNCH, as a candidate for Tax He
i ceiver of Wilkes county, at the ensuing election ia
January. c Dec. 12
[FT We tvre* atothorized to announce
James McLa W?> Esq. as a candidate for rc-elee
j iron totbe other of Clerk of the Superior and Infe
rior Courts of Richmond County, at the ensuing
election in January next. Nor. 24
O* We are authorized to announce
Leon P. Dugas as a candidate for Clerk of the
Superior and Inferior Court? of Richmond county,
at the ensuing election in January next.
Nor. 21
(
O* We are authorized to announce
F. W. DARRICOTT, as a candidate for Sheriff
cf Wilkes county, at the election in January next.
| Dec. 12 c
TAX COLLECTOR,
fpT* We are authorized to announce'
Robert A. Watkins as a candidate for re-elee
tion as Tax Collector for Richmond county, at the
election to be held in January next.
Dec. 2
MEDICAL CARD.
(FT* Dr. MEALS tenders his professional servi
ces in the various bran ches of Medicine, to the cit
izens of Augusta and vicinity.
He may be found either at the office, formerly
occupied by Thos. &. J. J. R. Flournoy, Lsqrs., on
Mclntosh-street, or at the residence of Mrs. Wa
terman, on Broad.street.
Dec. 1 6nvT
BLACK & LAWSON,
attorneys at law.
Will practice in all the Counties of the Middle
Circuit. Any business entrusted to them will meet
I with prompt attention. Address
Edward J. Black, Jackscnboro, Ga.
John F. Lawson, Augusta, Ga. ly Nor. 1
JOHNSON’S DAGUERREOTX pB
rooms.
MR. C. E. JOHNSON has the honor to w-.
: form his old patrons of last yeax, and the I'“^
lie generally, that he is again AT
. i STAND* over Messrs. Clark, Racket *
Store, where he i,s prepared to execute M *
i TURES.in a style superior to a,ny thing be
> done heretofore. 0 j
I Mr. J. thankful for the very liberal patronage
s ast season, asks a continuance of the same.
- Oct. 24