Martinsburg gazette. [volume] (Martinsburg, Va. [W. Va.]) 1833-1855, 1841-06-10
NATIONAL FINANCES .-REPORT OF The
SECREIARY OLE TIE TREASURY.

SECRETARY OF The TREASURY.
We publish this morning the clear and succinc
-,etsment OF the public finances from the Treasury
Department. The recommendation Of the Secre-
tary touching the mode Of supplying the de6cie nces
in the revenue specific and satisfactory; and
clad to find that the language Of the Pre.i-
dents Message on this particular subject will adj
nit OF more liberal construction than suppo-
sod by some ODE warranted by the terms employed.
The Secretary recommends a temporary means
Of supplying the wants of the Treasury, the levy of
n duty Of 30 per cent ad valorem on all articles
which are now free of duty, which pay less du-
" than 90 per except gold and silver and the
articles specifically enumerated IN the h section
of the act of March Cd, l833. Il is estimated that
under such arrangement the Treasury woul,i re-
ceive from customs in the last quarter of the pres
ent year about $5,300,000 and 10 the year 1912
ebout twenty two millions and half.
With regard to the final revisIon Of the Tariff.
the Report expresses the belief that the general
principles on " hich il should be adjusted simple
and easy be apprehended, but that the work OF
revision itself in its adaptation and detail. must be
the work of time. One feature of the adjustment
should be not only to recprocate on lair and equal
,,nciple. end in a liberal spirit tho concessions
!, hicb NAV be accorded to commerce by for
.jen nations but also .' to do justice own
citizens by neeting, in hks equal SPIRIT any
h,ary ezactions or prohibitions which foreign
tions may think fit proper 10 impose upon the i'm
portation of our staple productions"
This is the tight principle; the announcement
Of it we are sure will be gratifying the great
jori,y Of the American people. Upon the basis Of
this principle commercial regulations may stand
firmly and securely; con il be abandoned with
out dagger and great loss. The country is
suffering from the effects Of its temporary abandon
ment The people are familiar with it of old MS
the frequently repeated maxim of our wises states
men confirmed by the established practice of the
government. We recognise IL correct princi-
pie. II is right in itself, and emineniy practical.
IL extends courtesy to all nations that are willing
10 exchange courtesies, and it rebu,s with firm
si.tsnce any attempted imposition the part Of
nations that choose TO be- exclusively selfish. When
we get once more settled this basis 1t will be
easy matter, we apprehend, to induce the country
10 change ii in hurry
Concerning the Public Debt, the Rcpor, refers
m the manner in which it was created--that il by
the issue Of Treasury notes under the last admns-
,ra,on. The Secretary il Of opinion that as this
debt actually exists and must continue tor tlme'
II !. better that i, should be made funded de6f,
according to our ancient financial Osage,
National Bank, as the fiscal agent OF me gov
ernmpnt il believed 10 be alike essential to the
wants of the Treasury and OF the community
We regard this Report AS an admirable docn-
men, Ii is plain in its statements, SPECIFIC IN lis
recommendations, and free from obscnrity through
nut. There is no part Of il which can be mistaken.
-RoH;uoy, American, June z.