Constitutional Whig. [volume] (Richmond, Va.) 1824-1832, 1826-11-14

gress; and attention is called 10 the report witt,
request; from the Editors of the Enquirer, that will
ascertain ats correctness. We have no, had oppor
tunity to do this, and. as we are have the
official Expose of the state the Nation, including It's
finances, we have Thought would hardly be necessary
To make special inquiry. If that inquiry would
taniy be successful, Without making the iuvestiga-
Ton, as we have ourselves heard the report, and
as itappears to us to have probability 10 sustain it,
believe the rornoI will turn out 10 be true.
The effect OF such reduction OF tue revenue would
be OF no great moments for in the present condition OF
our country, million two less of dollars
IN the Treasury is of little consequence u snch
case, the People will have paid just inch less the
shape of taxes, and the money will reuai;, in their
pockets, instead OF being taken out of IL: the Bank Of
the United States will have much less ofte surplus
revenue IN its cvferS to discount and issue upon and
viii In reality be The only loser by the falling OF.
The reasons for believing in the alleged reduction Of
Tue annual revenue, grow out of the altered condition
of trade all over Europe, and in this country OF
within the last nine nionstiat since the Treasury
estimates were laid before Congress and the Peo lie
In the first place, the prices of the most important art
c!es of import have lowered within the past year..
Ciohs Tor example, which used 10 be nvOccd al eight
dollars are now, if VIC correctly informed invoiced
al i've dollars, and in proportion. OF codrsc the
amount oil duties on the amount of such articles
pay duties al r0iercm in which class are embraced
the great items Of Woo!en and Cotton Manufactures
WIN DE less now than ii twelve months ago in the
proportion which five bears to eight. This remark
docs not apply 10 the mportatons of the whole wear
Perhaps ont At applies To certain extent and st!ii
entity as we suppose, to po.cepble reduction
IN the revenue receivable during The present year, aud
sun more IN that receivable during the year, .ie,
me duties accrung during the present and last quarters
of the year will become PAYABLE
In the next place merchants generally, not only here
nut elsewhere, have, within The last eighteen months
met with great losses, They have become
ed, t'nd and disposed to undertake less than hereto
tore This we suppose TO have had the effect to lessen
The amount OF commercial transactions TO reduce
the quantity as we'll the specific vauc of article:
imported.
i Upon these data, the Tor the present wear
and tpr The next year, .hd perhaps, for suhseGr,en
years, we believe, may have been. and has been over
estimated What may have been wisely calculated
! uhuer existing circumstances. twelve or eiohteeu
months ago, may well disapnoint expectations if in the
intervening time, those circumstances have essentially
changed. Calculations of revenue from Utmost must
always be uncertain, and this has been one Of the
strongest arguments in favor direct taxation instead
Oh relying on lnpost-an argument, however. whicl
never convinced us II always uncertain, they must
De stu more So under the operation of such fluctuations
| IN trade as we have lately seen.