Portland gazette and Maine advertiser. (Portland, Me.) 1805-1818, 1812-03-02

bly, p-osided. Il win result that the loans
which i NAV hc necessary 70 authorize dur.
.ng The wear 1918, must amount 10 st least
II 500 coo dollars, and for 1914, 10 rs, 300
600 dollars an operation which, by throw
ing into the market so large an amount Of
stock, accompanied with no adequate pro
vision for paying even the interest sccTHing
on such as may be created, but relying alto
ge,her upon the decreasing ability 70 Dor
row for the purpose ofpsying such interest,
must have most uniavourabse effect upon
the general price of public stocks, and the
Consc 9uent terms Of the loans themseies
II may lie added, that system OF that sori
would, il is believed be found TO be alto.
gether unprecedented in the financial histo
ryot any wise and regular government, and
must, if yielded TO, produce, al no distant
period, that general state of public discre-
dit which attended the national finances du-
ring the war of the revolution, and which
nothing but the peculiar circumstances OF
The country, and the want of a well organ
tzed aad efficient government during the pc.
riod of that revolution, could at all justify.
ohave withheld from the public view, q
fair exposition Of the probable state OF the
fiscal concerns of the government, under the
very first pressure of active war, or 10 have
deferred submitting to the House such
system as i'm the opinion of the committee
was Indispensable to place the revenues Of
the country upon basis commensurate with
the public exigencies, would in their Judg
men. al once have evinced in the eyes Of
foreign na ions, an imbe cihty OF action and
~ design. the effects Of which must be too
ohvious TO be mistaken. And as it regards
our cum country, would have indicated a
rolicy az feeble and short-sighted as it must
have been considered deceptive and disin-
ocnious--as unworthy the rulers of free
md enlightened natioa, as in its result IT
,yould have been found fatal to its interests,
a ,sral, sing to all its efforts. 1t is obvi-
,ba, he whole amount which it is ne
cessarv 20 raise in order to meet the antici-
pated deficit of revenue tor the ensuing
Years is indeed " moderate when compared
either with the population and wealth OF the
IT. States or with The burthens laid on Eu-
ropean nations BY th;ir governments
To doubt whether the "wlli or the sbtl-
ity, or the people of the U. States to bear
such burthens as are indispensable TO TINS
end. would be TO doubt their dispositions 70
meet seriously the contest which IS Presen'
ted 10 them, and would go far TO prove that
Il had better not have been attempted.
To doubt the readiness of the govern
ment to bring promptly and efficiently"
into action the necehary reiources OF the
nation, would be 10 CAT dlftruit over the
(incerity ofthole pledges which they have
r. recently and diRinaly given 70 the
world in that refDe6t. and would imply a
fuIpicion of their hrmueis or screcae not
for a moment TO be entertained.
For more full and difnf elucidation
or the general fuhie6 which it has be-
come the duty of the committee T. pre-
fsnt to the Houie, they beg leave to refer
10 the letter OF the Secretary of the Tfea-
fury, in anfwer to the fevera! enquiries
made of him by their origr, and which
has heretofore been laid before the Houie
-coucurring as they mof fully do in the
General opinion exDreled by him, That
whit appears 10 be Of vital importance
l.. that the criis fhould at once be met
hy the adoption Of efficient meafures,
which will with certainty provide means
Commensurate With the eKpence, and by
preferving unimpaired intead OF abuaug
that public credit on which the public re-
fpurccs 70 eminently depend, viii enable
the IT States TO perievere in the contef,
unril an honorable peace mall have been
obtained.
1t is then propo(ed by the committee,
that the additional revenue which will De
necefIary "to defray the ordinary expen-
ces of government, and 70 pay the inieFelt
90 the public debt including that on new
( loans which may Be authorized" ihould DC
Immediately provided for in the following
modes, viz.
N additional Duties Of ImPofJ q Tonnage
ut. An increaie of the duties now paya-
bic bylaw on imported mcrcha1dIZe cal
culated to yield net revenue Of
dis. 2,5oo 900
ad. A further retention on the amount
Of al drawbacks allowed by law on the
expectation Of goods, wares and merchan-
die calculated to yield net revenue OF
100000
al. An additional tonnage duty on A.
mtrican and foreign vehes, calculated to
Weld a net revenue of 400, eco
4.h. A duty on all falt imported, CAL
Culated to yield net revenue OF 100000
Total net amount OF revenue etimattd
from additional duties of impott and ton
mage dis. s,7oo'ooo
a. Internal DATES.
m A duty on licences 10 di6il tPlrits
from foreign aud dometic materials, cal
cula;cd to yield a srois revenue OF
z7S,oOo
al A duty on licences to retailers OF
wines, fpirits, and foreign merchandize.in
Guiding taveFn-keepsrs, calculated to yield
A erofs revenue of 100000
"a. A duty on illes Al auction OF for.
eien merchandise and Of velIcls calculated
to Weld a grois revenue Of 10000