Rutland herald. [volume] (Rutland, Vt.) 1823-1847, 1841-12-14


may ake Of the sublec, 10 revise the existing tariff Of
duties beg leave say that, IN the performance OF
that most delicate operation moderate coansels would
seem TO he the wiscst The Government, under /
which II is our happiness to hive, owes its existence
to the spirit of compromise which prevailed among |
its DEMONSTRATING and discordani opinions could
only have been rcconced BY that noble spirit Of pat.
rio,s which prompted Cancellation, and resulted in
harmony In the same spiri, the compromise bill, |
as ii is commonly called adopted at the session
of 1888 While the people Of no portion ofthe I'm
ion will hesitate to pay all necessary taxes for
the support OF Government, yet an mate repugnance
exists the mpositions Of burdens really neces
sary for ihnt object In imposing duties, however,
for the purpose Of revenue, righ, to discriminate
to the articles which the duty shall be laid well
ns the amount necessarily and most properly exists
Otherwise the Government would be placed in the
condition of having to levy the same duties upon all
articles, the productive, as well the unproducve
The slightest duty upon some, might have the eff
feet Of causing their importation to cease whereas
other entering extensively into the consumption of
the country, might bear the heaviest, without any
sensible diminuon in the amount imported So al.
so the Government may be justified in so dscrimna-
ting by reference to other considerations domestic
policy connected with our manufactures So long
the duties shall be laid with distinct reference to
the wants ofthe Treasury, well founded objection
can exist against them II might be esteemed de-
take place would have the effect of annulling the
land proceeds distribution act of the last session.
which act is declared to be imperative the moment
the duties increased beyond 20 per cent, the
maximum rate established by the Compromise act
Some of the provisions of the Compromise act which
will go into effect on the 30h day of June next NAV
however, be found exceedingly announcement in prac-
tce, under any regulations that Congress may adop,
refer more particularly to that relating to the home
valuation. difference in value of the same arti-
cles TO some extent, will necessarily exist differ
cnt pors-but that is altogether insignificant when
compared with the conflicts in valuation which are
likely to arise, from the differences of appraisers of
merchandise In many instances the estimate value
must be conjecura, and thus many different rates
OF value may be established as there are appraisers
These differences in valuation may also be increased
by the inclination, which, without the slightest i'm
puation on their honesty may arise on the part of
the appraisers in favor of their respective ports of en-
try recommend this whole subject to the consd-
Grafton of Congress with single additional remark
Certainty and permanency in any system of Cover
mental policy are, in all respects emnently desira
BILE; but more particularly is this true in all that a
fects trade and commerce. the operation of which de-
pend much more on the certainty of their returns
and calculations which embrace distant periods OF
time than on high bounties, or duties which are LA
bic to constant fluctuations
AT your late session, invited your attention to the
the necessity of adopting such measures as were con
slstent with the constitutional competency of the Gov
eminent IN order to correct the unsoundness of the
one, and as far as practicable the inequalities of the
other. No country can be in the enjoyment of il
full measure OF prosperity, without the presence of
= medium OF exchange approxlmating to uniformity
of value What is necessary as between the difTcren
nations of the earth, is also important as between tn,
inhabitants of different parts of the same country
with the hrst the precious metals constitute the chic
i Nedlum OF circulation, and such also would be the
case OF the last but for inventions comparatively mod
:; ern, which nave furnished in place of gold and sill
4 yver- paper circulation do not propose to ente
/ INTO comparative analysis of the merit of the two
systems, Such belonged more properly to the peri
a cd of the introduction of the paper system Tn,
n speculative philosopher might find inducements t.
l. prosecute the inquiry, but his researches could onl,
e lead him to conclude, that the paper system hao
probably better never have been introduced and tina
+ society might have been much happier without it
, The practical statesman has very different task t.
n perform. He has to look at things the are-
II take them as he finds them--to supply defnciencie
u and to prune excesses far in him lies The tas
r Of furnishing corrective for arrangement of the pape
D. medium with US, is almost inexpressbly great. TIT
power exerted by the States charter banking corpo
m ratons and which, having been carried grea,
4 cess, has filled the country with, in most States II
~ redeemable paper metium, is an evil which, in som
a. way or other, requires a corrective. The rates
" which bills OF exchange negotiated between differ
parts of the country, furnish index of the valu
of the local substitute for gold and silver which is
e. many parts, far deprecated be received
to except at large discount in payment for debts,
IN the purchase of produce II could earnestly be desir
g ed that every bank not possessing the of re
: sumption. should follow the example of the late U. S
Bank of Pennsylvania and go into liquidation, rathe
than by refusing to do TO continue embarrassment
m in the way of solvent institutions, thereby augmeniin
ed the difficulties incident TO the present condition
things. Whether this government, with due regard
n the rights OF the states has any power TO constran tn
o. banks either TO resume specie payments to fore
~ them into liquidation, is an inquiry which will not IA
N TO claim your consideration. In view of the great &C
- vanages which allowed corporators, not anon
the least OF which is the authority contained in
I'd their charters to make loans three times the amour
n of their capital thereby often deriving three times
b. much interest on the amount of money as an
2 individual is permitted by law receive no sufficer
apology can be made for long continued suspensio
-, OF sDecie payments Such suspension is product,
OF the greatest derment TO the public, by expellir
from circulation the precious metals, and serious
- hazaldng the success OF any eiurt that this govern
ne nent can make 10 increase commercial facilities al
es- TO advance the public interests.
Thisis the TO be regretted, and the indispens
rec bic necessity for sound currency becomes the mo