The aggregate receipts of the last fiscal year amounted to $52,312,979:--the total expenditures $48,005,878. The total imports of the year were $215,725,995, of which $4,967,901 was in specie. The total exports were $217,517,130, of which $29,231,880 was in specie. Since the 1st of December 1850, the payments on account of the principal of the public debt have amounted to $7,501,456, which includes $3,242,400 paid to Mexico and $2,591,253 awarded to American citizens under the Mexican treaty. The public debt on the 20th of November, exclusive of stock authorized to be issued to Texas, was $62,560,395. The receipts for the next fiscal year are estimated at $51,800,000. The total expenditures for the next year are estimated at $42,892,299, of which $33,343,198 will be needed for the ordinary expenses of the government, and $9,549,101 for payments of the public debt and expenses consequent on our territorial acquisitions. The value of our exports is $43,648,322 more than it was the year before last, but this is owing mainly to the increased price of cotton. The value of our exports of bread stuffs and provisions has fallen from $68,701,921 in 1847, to $26,051,373 in 1850, and to $21,948,653 in 1851, with a strong probability of a still farther reduction in the current year. In the exports of rice and tobacco there has also been a large decrease. These facts are cited as showing the fallacy of expecting increased exports from a reduced tariff. The production of gold in California, it is feared, will tend to increase our imports beyond a healthy demand. We have exported specie during the year to the amount of $24,263,979 beyond our imports. Of the stock due to Texas only five millions have been issued. The President recommends a change in the Tariff so as to convert _ad valorem_ into specific duties, wherever it is possible, and also to discriminate in favor of American industry. The cash sales of the public lands exceed those of the previous year. Proper steps have been taken for a survey of the mineral lands of California. The establishment of an agricultural bureau is recommended. The President also recommends appropriations for internal improvements, and the more effectual protection of our frontiers from Indian incursions. The expenditures of the War Department for the year were $9,060,268: the estimates for the next year are $7,898,775. The return of the Arctic Expedition is noticed: the estimates for the navy during the ensuing year are $5,856,472. The length of mail routes at the end of the year was 196,290 miles: the annual transportation thereon 53,273,252 miles: and the total cost $3,421,754. The length of the foreign mail routes is estimated at 18,349 miles; and the annual transportation thereon at 615,206 miles. The annual cost of this service is $1,472,187, of which $448,937 is paid by the Post Office Department, and $1,023,250 is paid through the Navy Department. The annual transportation _within_ the United States (excluding the service in California and Oregon), exceeds that of the preceding year 6,162,855 miles, at an increased cost of $547,110. The whole number of post offices in the United States, on the 30th day of June last, was 19,796. There were 1,698 post offices established, and 256 discontinued, during the year. The gross revenues of the Department for the fiscal year, including the appropriations for the franked matter of Congress, of the Departments, and officers of Government, and excluding the foreign postages, collected for and payable to the British post office, amounted to $6,727,866.78. The expenditures for the same period amounted to $6,024,566.79; leaving a balance of revenue over the proper expenditures of the year of $703,299.99. The receipts for postages during the year (excluding the foreign postages collected for and payable to the British post office) amounted to $6,345,747.21, being an increase of $997,610.79, or 18-65.100 percent over the like receipts for the preceding year. No reliable estimate can as yet be formed of the effect of the reduction of postage: it is believed, however, that the receipts will be diminished. The postmaster general recommends adherence to the present rates of letter postage, and advises against a further reduction until it shall be justified by the revenues of the Department. He recommends a revision of the rates of postage on printed matter. The President urges the appointment of a commission to revise the public statutes of the United States. Measures have been taken, pursuant to law, for the extension of the Capitol. It is deeply regretted that the execution of the fugitive slave law should have been resisted in one or two instances: the purpose of the President is reiterated to secure its enforcement.