Our commerce is rapidly
increasing, and is extending more widely the circle of international
exchanges. Great as has been the increase of our imports during the past
year, our exports of domestic products sold in foreign markets have been
still greater.
Our navigating interest is eminently prosperous. The number of vessels
built in the United States has been greater than during any preceding
period of equal length. Large profits have been derived by those who
have constructed as well as by those who have navigated them. Should the
ratio of increase in the number of our merchant vessels be progressive,
and be as great for the future as during the past year, the time is not
distant when our tonnage and commercial marine will be larger than that
of any other nation in the world.
Whilst the interests of agriculture, of commerce, and of navigation have
been enlarged and invigorated, it is highly gratifying to observe that
our manufactures are also in a prosperous condition. None of the ruinous
effects upon this interest which were apprehended by some as the result
of the operation of the revenue system established by the act of 1846
have been experienced.
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