Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1824-04-30

discour'ging comparison TO its amount AT tia,
'ime. whatever standard we May choose to
ADOPT 10 institute the comparison. IL was H.
1871 about srven'y-five millions OF dollars
L Is now about ninety. Then we had 4 popu-
la'i"n of about four millions. Now we have
upwards Of ten millions. Then we had "A rev
enue short of five millions nf dollars Now our
revenue exceeds twenty. IT we select popu-
iS'inn as the STANDARD, our present population
is one hundred and 6lty per cen. great
cr than II was in 1891 if revenue, that is
'onr times more now than at the former pc
nod whilst the public debt has incrcas-
ID only IN ratio Of twenty per cent
public debt of three hundred millions oil
d"ars at The present day, considering our
actual ability. compounded both Of the in
crease of population aud of revenue, would
nui be more on'rous now than the debt oil
seventy live millions, of dollars was, at IN.
epoch of 1891. in reference TO the same cir
cnnstances. III am right in snpposiug, that
under the operation of the proposed measure
there will not be any dminuiion, but a
probable increase of the public revenue, there
VIII be no difficulty in delraying the current
expenses of government, and paying the prin-
clpal, as we'll as the interest, of the public
debt, as II becomes due. Let us, for a mo-
inent, however, indulge the improbable sup
position OF the opponents of the tariff, that
| there will be reduction of the revenue to the
extent of the most exiravagant calculation
which has been made, that is to say, to the
extent of five millions. That sum deducted
we shall still have remaining revenue Of about
fifteen millions. The treasury estimates oil
the current service of the years 1872 1928 and
1924, exceeds, each year, nine millions. The
lapse OF revolutionary pensions, and judcious
retrenchments which might be made, without
deirlment To any of the essential establish
menis ofths country would probably reduce
them below nine millions. Let us assume
that sum, 10 which add about five millions
and half for the interest of the public debt
and The wants of government would require ;
Tevenue offnurteen and half millions, IeaviDa
| Surplus of revenue of halfa million beyonC
the public expenditure. Thus, by postpone.
ment OF the payment of the principal of tn,
public debt, in which the public creditor:
would gladly acquesce, and coniiding for the
means oil redeeming IT in the necessary ia
crease of our revenue from the natural aug.
alehtation Of our population and consumption
we may safely adopt the proposed neasure
even liit should be attended (Which is conf
IDENTIFY deniedJ with The supposed diminuiio,
OF revenue. We shall not then have nccasinr
10 vary the existing system of taxatinu V,
snail be under ~ Necessity TO resort either Il
direct taxes or Ia an excise. But, suppus,
the alternative were really forced upon US y
continuing the foreign system, with its iue, tia
bile 'mpoverishment of the country, bat witt
the ADJ antage of the present mode of collect
Ing the taxes, or of adopting the American sys
tenn, with IFS increase of the national wealth
but with the disadvantage of an excise, coui,
any one hesitate between them ? Customs anC
an excise agree in the essential particulars
that they are both taxes upon consumption
and both are voluntary. They differ only il
the mode of collection. The office for III
collection OF one is located on the frontier, an,
that Tor the other within the interior. 1 be
l'eve 1t was Mr.. Jefferson. who, in reply to tn
boast of a citizen of N. York of the amour
| of the public revenue paid by that CITY, ask.C
who would pay it if the collectors Office wer
removed to Paulns Hook, on the n. Jerse-
shore National wealth is the source of al
taxation. And my word for it, The people arr
too intelligent to be deceived bv mere names
and not To give decided preference to tina
system which is based upon their wealth an,
prosperity, rather than to that which i
founded upon its impoverishment and rum.
Speech be cOnlinued)