Herald of the times. [volume] (Newport, R.I.) 1830-1846, 1832-05-17
WHOLE NO. Ill.

ties, will be received.
If the raising the proper amount OF
revenue were the only object, or could
alone s"'de these suggestions, the task
would be comparatively easy; but the
crisis presents a different and far moro
compiicate subject The impos, system
of the United States has been, for many
years, incidentally, but so intimately
connected with the growth and protec-
ton Of American capital and labor, as tn
have raised up great national interests,
Indispensable to the prosperity Of tho
country, and which cannot be lost sight
of in any new adjustment Of the system.
How far other interests, in different por-
tions of the Union, can be satisfied in the
system now to re framed, without injury
to those important interests, is the ques-
tion which makes "A compliance with the
direction Of the House, a labor of great
delicacy, and Of still greater difficulty.
/ In the circumstances which al present
require general reduction of the reve-
nue., it is not believed practicable to pre-
serve, for any length of time, the degree
of protection hitherto afforded to those in
terests which have grown up under the
past Legislation. The state Of public
feeling throughout an important portion
of the country, which, with greater or
! less intensity, calls for revision of tho
existing tariff, is not to be disguised
/ Both patriotism and wisdom dictate that
this sentiment should be respected, and,
as far as may be compatible with the
common veal, that it be satisfied, not
from any unworthy motive, but under
that obligation Of duty which requires
that all be regarded with an equal eye,
that all be borne upon with an equal
: hand; and, under that 10 less solemn OBJ
! liz alton, to preserve, by any reasonable
concessions, our mestimable Union
{, Fully impressed with these considera-
, tions, and in the belief that, by their re-
: solutions the House has required sug-
gcstions for a general reduction of duties
on the articles comprehended in the ex-
5 listing tariff, the undersigned has felt it to
be his duty to deal with the subject i'm
= that spirit, and has now the honor TO sub
f NIT the result of his investigation and re-
Election in the form Of bill accompany
ing this letter
/ He does not intend it So much for a
perfect scheme, as to embOdy those sug
gestisns which he has been called upon
to make in a definite and ineligible
shape and, while looking to the patriotic
object of the resolution, which has also
guided his own judgment, he cheertully
assumes the responsibility of the scheme
now presented, he will derive no less
s qualification if that object can be better
g attained by any other plan which wiser
= counsels may devise.
! The basis OF the bill now submitted, is
g total repeal Of the act Of the 18th Of
e May, 1898, from and after the third Of
: March, 1888, and limitation OF the rev.
v enue afterwards to be raised, by a new
n system Of dutfes, to the existing expendi-
5 lures OF the government, and to such
= other necessary expenditures as the exi-
D.. genoy of the public service may require,
r and Congress, IN IT'S wisdom, may author
ize.
S The estimate which was presented i'm
!, the late annual report from this depart
ment, OF the amount to be received into
e the treasury for customs, in the year
e 1899, was founded, chiefly Upon the irsr
l. portations of the year 1881; and as the
% receipts of that source will not be greater
J. than may be safely relied on for the pay
n ment of the public debt within the time
proposed, the duties cannot be materially, =,
n if at all, reduced, consistently with that
d object, earlier than the period indicated.
b If the duties be reduced, as proposed
e in the bill to take effect in March, 1888,
n the amount which, according TO the prin-
J. ciples adopted in forming the estimates
= for 1882, may be estimated rs the re
!, ceipts from the customs in 1888, will be
about Sl8 600, 900, which SAM after pro-
l. viding for the payment Of the debt il,
3, that year, would leave ior oil other OBJ
% jects, 100000.
ID Should the public expenditures amount
l. to 100000 after the payment Of the
debt in 1893, there would be surplus in
in the year OF only S3,500,0OO.
r No allowance, however, is made in
r this estimate for the effects Of dimin-
oi ished Importation, or an unusual re-ex-
T. portation Of those articles which may be
4 included in the reduced tariff, and nigh,
, not be necessary for the consumption OF
d, the country before the reduced tariff
IS should 60 into operation. Yet, however
I. equally prospective reduction may en-
, able the importers to adjust the supply to
'e the demand, it is believed that consid-
Il erable reduction should be made for
a. these coming II IS doubtful wheth-
OF er they would leave any surplus. but, If
r any, small one And, in carrying INTO