Phenix gazette. [volume] (Alexandria [D.C.]) 1825-1833, 1832-05-01

Ceipts from that sourcewil not 6e greater than may
be safely relied on for the payment of the pub
lie debt within the time proposed, the duties can
not be materially, If at all, reduced. consistent
ly with that object, earlier than the period indi-
Gated. N
II the duties be reduced, as proposed in the
bill Ia take effect in March, 1858. the amount
which, according to the principles adopted IN
forming the estimates for 1882, may be estimat-
ed as the receipts from the customs in 1888, will
he about 3 5000, 600, which sum. after provid-
ing f. the payment of the debt in that year,
would leave, for all other objects, SIS, 500 900.
Should the public expenditures amount to S15.-
100000 after the payment of the debt in 1883,
there would be surplus in that year Of only
S, 100000.
No allowance, however, is made in this esti-
mate for the effects Of diminished importation,
or an unusual re-exportation of those articles
which NAV be included in the reduced tariff. and
might not be necessary for the consumption Of
the country before the reduced tariff should 90
into operation. Yet however equally pros
pective reduction NAV enable the importers to
adjust the supply to the demand, 1t is believed
that considerable reduction should be made Tor
these contingencies. 1t is doubtful whether they
would leave any surplus, but, IT any, small one.
And, in CARRYING into effect great change like
this, it would be imprudent to incur the risk ct
scan,y or defective revenue, merely to avoid
the chance of small surplus
IT reduction Of S1O,0O0.0o0, or upwards,
should be made, TO 90 into operation immediate
ly, il would effect not only the future revenue,
but that which has already accrued. and which
forms the chief basis of the receipts into the rrea
sury during the present year. Whatever amount,
receivable from the customs in this year, may be
now in bond. it cannot be doubted, that before
those bonds become due, re-exportation would
take place of all such articles as should be in
Guided in the reduced tariff, and be in situation
to enti,le them to debenture Such articles
could not enter into competition with those I'M
ported under the reduced tariff. and would ne
cessarily be reexported.
In regard to the proper time for the reduc-
ton to 90 into operation, the advantage which
all parties interested-the producer. manufacture
er, importer, cOnsumer-would derive from time.
" notice Of any Important changes in the rates OF
duty, is consideration, which also, ough, not to
be overlooked.
For the objects mainly intended to be provi.
ded for, an annual revenue of 5000. 600 is
estimated to be necessary. Of tins amount I'M
til Congress shall otherwise determine, the sum
Of 5000. 900 may BE- estimated to be received
from the pubic lands. Should Congress here
after determine to dispense with tn source of
revenue, any deficiency thereby occasioned may
readily be raised by small augmentation of the
duties proposed by the bill upon the class Of ar
ticles which are taxed solely for the purposes of
revenue, or may be distributed among the
whole.
The remaining g a. 100000 it is proposed TO
raise exclusively from dnties, on imports. IN the
manner particularly provided for in the bill II
&c hot t,y th no
al revenue from customs, calculated upon the
impor,at,ons Of the year ending on the S0th
September, 1880, after deducrng re-exporta
tions, viii be reduced more than 80, &C. 600;
and upon that portion of them commonly called
protected articles, more than $4,000. 600: and,
also, that the rate Of tfle whole duty from GUS
toms, calculated upon the cost OF the imported
merchandise in the same year, exclusive OF all
charges. will be reduced from about forty five
per cent to about twenty seven per cent The
difference, however, between the rate of duties
since 1850, and that under the bill, will not be
quite great, owing to the reduction already
made in the duties on tea, coffee, molasses, and
salt.
A great number of articles Of the first neces-
sitv. or partaking of the character of raw mate
rias, have been relieved from duty altogether;
and on many of the necessaIes Of life, ant those
principally consumed by the poorer classes, a
duty almost nominal has been Imposed
An opinion has been heretofore expressed by
the undersigned, in favor of a prospective and
gradual reduction of the existing duty on articles
embraced by the protective system; but it has
been departed from in the bill, in Difference to
respec able opinions from other quarters, but
principally to what is understood to be the wish of
the manufacturers, who prefer system perna-
nent in its character to one liable to change.
II has MT been supposed practicable to offer
any reasonable scheme of compromise. and
for the adjustment Of existing differences, which
should not avoid the incongruity in the act of
1923. from the extravagant duty on the raw ma
terials, and the well-founded objections to the
system at minimums.
1t is believed that the producer of the raw ma
teria, and especially the grower of wool. will
receive an ample indemnity for the concession !
now required. in the constancy and steadiness of
the market. which the sure and permanent sue. /
cess of the manufacturing establishments will
not fail to afford for his commodity, and in the
cheapening Of his general supplies. Indepen-