The Hillsborough recorder. [volume] (Hillsborough, N.C.) 1820-1879, 1841-06-24
s3l,alO,Ol4 20

tudpiaWnn anu utlalIs must DC WOfk OF
time. II should be done on calm rsiisc
ton and careful deIiberalion. with view
TO reconcile, as fsr IS possible. the con-
dieiiag opinions. and 10 promote oil The
various interests Of the whole People Of
these United States. And IN mar be i'm
porlant. in that adjustment. not only 10
reciprocsle on fair and equal principles.
and in libersl spirit, The concessions
which may be accorded 10 our commerce
BY foreign natinns. but also 10 do justice
N. ssas ow. sisiz@.s Iy--.~--s:-sy ~ = tshs-
equal spirit any heavy exactlons or pro-
hIbilions which foreign nations may think
fi 10 impose upon the importation Of our
staple productions.
Some legal provisions are also required
10 correct inequalities between The duties
upon sugar and molasses. and the draw
backs upon refined sugar and rum, man.
uIaciured or distilled from fateien mate
rails. TIE relation between the duty and
the drawback was adjusted by the acts Of
January 2ls,, 1899. and May 29h, 1880,
since which time the duties have been
diminished, while the drawbacks remain
the same. And a provision OF law deelsr.
ing that all non enumerated articles which
bear similitude to any enumerated article
chargsable with duty shall pay the same
rate Of duty with The article which i. most
resembles. would save large sum snnu-
ally to the revenus. and prevent much
annoyance and Irrigation between the
importer and The officers charged with
the collection Of the customs.
| or the Public Debt.
But il is not expected that any modifi
cation Of The revenue laws will be oper'
alive TO supply the immediate wants ol
the Treasury, and to pay the debts which
FILL due in the present aud in the ensuing
year. A further loan is necessary In ef-
fec, these objects, and the only questions
iha, can arise are as TO the mode Of pro
curing the loan, the character Of the So.
eurities, and the assumed duration Of the
debt.
Il would. in the opinion OF the under.
signed. be unwise to charge upon the
commerce or the resources OF the coun
try. in any form, the burden Of paying a
once, or al all hastily, the national debt
Before that is done. measures Of res,ora
lion and relief are required. The cur
rency oi the country should be restored
and commerce and industry relieved IRON
their present state of embarrassment ant
depression. and benign and liberal policy
on The part Of the General Government
should call forth once more The hard,
industry and active enterprise Of our PEG
pie. and The vast resources ofour country
| II we assume The period Of from fiv,
to eight years as that in which this deb
can be paid without Inconvenience an,
smbsrrasmeni--and the time appears Il
be shor, enough--we have one OF III,
most essential elements on which to form
our judgment as TO The best and mos
convenient mode 10 which The loan cal
be KEEP, up, and the credit Of the Govern
ment sustained. -....
In the inception and during the pro
gressive increase of national debt, th
: issues Of Treasury notes. though danger
Gus and delusive. have vet their sdvant
ages. They need not be issued taste
than the actual wants Of The Treasury
reqoire; and the power 10 issue any gisel
: sun is, for all effective purposes Of i'm
. mediate expenditure, q fund in the Tres
: sury available to that amount, But. uhsl
; the deb, has acquired lis msximum aa