Alexandria gazette. [volume] (Alexandria, D.C.) 1834-1974, 1834-12-09

tons, and the proper national policy TO be pur-
sued as TO the imported luXuries and necessa-
ries of life. On those points, it is considered Tar
better for the real manufacturers themselves,
not engaged in mere speculative investments,
as we'll as for commerce, agriculture, and the
revenue, that policy should be selected not UNI
Just to either great interest or either great sec
ton Of the Union and when once estaolshed,
that frequent changes should be avoided, and
the occasional increase or reduction OF revenue,
which may sometimes become proper Tor hnan-
cial purposes should be connected with articles
wholly detached from the question OF protection
IN manufactures The Tariff as to these trou-
blesome points, is regarded as now adjusted, by
the act OF March, 1888. till the year A. ID. 1912,
except in respect 10 such newregulatlons asmay
be required from time to time, for the due en-
forcement of The spirit of that act, or such other
changes as new occurrences may satisfy the
great mass of the community, are rendered pro-
per for earlier notifications without depart
ure from the spirit Of the compromise then in
tended among the friends of free trade and OF
high protection.
A separate Report, on certain subjects rela-
ting to the due enforcement of the present Ia
riff being in preparation, only one OF them will
now be adverted to. 1t is the evasion Of the
present duty on silks from beyond the Cape of
Good Hope, by their being first landed, and oc-
caSonally re-cOlored, or re-stamped. In Europe,
before imported into this country. In this way,
and by the present discrimination in favor of
European silks, the revenue loses very large
amount As some illustration OF the loss by
such determinations the recent one IN favor
Of French silks, alone amounted to over $780,
900 year; and that now in favor OF French
wines amounts to nearly 5000, 900 more; making
loss Of over half million a year on these
two articles with only one nation.
But, while On the other points, independent
of the spirit of the compromise of 1888, legisla-
ton may be regarded as still fairly open, it GER
tainly ought not to be attempted on so delicate
and difficult subject, unless imperative causes
for it shall occur, whether combined or not with
any increase or reduction of the tariff that may
become necessary as d mere question OF reVe-
nue. by the actual condition of our receipts and
expenditures. So far from any increase being
necessary at present, or prospectivey, the bal
an e now on hand in the Treasury, and the ac
accruing revenue under existing laws, Will, In
the opinion of the Department, prove amply
sufficient to answer all ordinary demands, and,
united with our other resources, to answer any
unexpected demands Of no very extraordinary
amount.
As appears by the documents annexed, the
Government has about So, 3l3, 400 subject to ge
neral USE invested in the United States Bank
stock and the sum OF 81 So, 500 invested in diff
ferent canal stocks; and the proceeds of the
sales of which, if authorized in any unexpected
deficiency, would, in most cases, prove amply
sufficient, without any resort to an increased ia
riff. On the contrary, neither Of the available
balances estimated 10 be on hand in 1885 or
1885, after deductng what will be wanted for
outstanding appropriations, can probably ex
coed a million. Should the surplus, without
that deduction, prove to be about six millions,
as estimated the undersigned respectfully SUBJ
mts that it will require no legislation as that
amount has been about the average usual ba-
lance retained on hand for many years-a bal
Ian that has furnished great facilities N
ing all claims even at the remotest points, with
punctuality and good faith afforded much sta
blity and elevation TO our public credit, by pro-
vidng seasonably the means for punctilious
fufment of contracts, and yielded so great Sc
curity against sudden evils of every kind in fl
nanca affairs as TO render one of near that
amount provdent and economical; and espe
cially so at this moment, when any surplus which
may exist, will accrue under permanent com
promise of the Tariff, that contains within it. |
sefa provision to reduce still further the duties,
and undoubtedly the whole amount of our re-
venue after the close of the coming year
Ii is a source of sincere congratulation, that
from the general prosperity of our commerce, |
and from the peace, industry. and abundance
which so widely prevail over our fortunate cOun- |
try, under its admirable institutions, that re-
searches are obliged to be directed, rather to
the due reduction or disposition of any occa-
sional surplus that may happen to exist in the
by taxation and other burthens But
under our altered system as to duties, and the
public debt. it will be prudent to calculate that
as well as SURPRISES, may happen |
oflener than formerly. In the opinion of the
however, neither can be soon an
tcipated so as to require Immediately legisla-
ton. But should Congress think differently no
harm could arise from vesting power in the |
Treasury Department, in case of an unexpected |
deficiency occurring in the revenue from any
cause whatever, to sell such portion Of our pub
lie stocks as may be necessary to supply the
public wants growing out of actual appropria-
tons. In contingency of that kind against
which, in the present system ofour revenue, and
without large ordinary surplus to be applied
as it can be spared or not, for the payment ola
public debt, in the manner heretofore practised,
it is difficult to guard efficiently, against its usual
evils, a delay, if not great embarrassment and
injury TO public creditors, and violation of our
plighted faith. AT the same time, it might be
to provide, that whenever the coec-
tons Of the revenue, permanently authorized,
should prove to be in an excess not immediate
Iy needed, or useful a proper surplus in the
hot nnn, eb, oh,