ined its acceptance on the ground of the inadequacy of the
compensation. The annual allowance by law is $6,000, and there is no
provision for any outfit. I earnestly recommend the consideration of
this subject to Congress. Our commerce with China is highly important,
and is becoming more and more so in consequence of the increasing
intercourse between our ports on the Pacific Coast and eastern Asia.
China is understood to be a country in which living is very expensive,
and I know of no reason why the American commissioner sent thither
should not be placed, in regard to compensation, on an equal footing
with ministers who represent this country at the Courts of Europe.

By reference to the report of the Secretary of the Treasury it will be
seen that the aggregate receipts for the last fiscal year amounted to
$52,312,979.87, which, with the balance in the Treasury on the 1st July,
1850, gave as the available means for the year the sum of
$58,917,524.36.

The total expenditures for the same period were $48,005,878.68. The
total imports for the year ending June 30, 1851, were $215,725,995,
of which there were in specie $4,967,901. The exports for the same
period were $217,517,130, of which there were of domestic products
$178,546,555; foreign goods reexported, $9,738,695; specie, $29,231,880.

Since the 1st of December last the payments in cash on account of the
public debt, exclusive of interest, have amounted to $7,501,456.56,
which, however, includes the sum of $3,242,400, paid under the twelfth
article of the treaty with Mexico, and the further sum of $2,591,213.45,
being the amount of awards to American citizens under the late treaty
with Mexico, for which the issue of stock was authorized, but which was
paid in cash from the Treasury.

The public debt on the 20th ultimo, exclusive of the stock authorized
to be issued to Texas by the act of 9th September, 1850, was
$62,560,395.26.

The receipts for the next fiscal year are estimated at $51,800,000,
which, with the probable unappropriated balance in the Treasury on the
30th June next, will give as the probable available means for that year
the sum of $63,258,743.09.

It has been deemed proper, in view of the large expenditures consequent
upon the acquisition of territory from Mexico, that the estimates for
the next fiscal year should be laid before Congress in such manner as
to distinguish the expenditures so required from the otherwise ordinary
demands upon the