New-York tribune., 1841-12-08


rrt,sd whether u gyoCd s3t De advisable to amend
Inc laa by making what FealziSs untlsPosed o.
PAYABLE al a more diz.aa. dss
Shou!d !, be neces>zrr, II any view ;har CeH-
sres, ma, AXE Of lh> >u5ec,. 10 revise The e>stl1g
tari: Of duties beg leave 10 Say, tfst n the per
forr1anc. Of tat most cecs-- operation moderate
counsel, would seem u De t2e wi<es; The Gov
erare.t under wnica il : our happiness 70 i've,
owes IS existence . tie spini of compromise
vtich prevailed anon; - lraaler>-jjar1ng and
5lsccr,lar: opIai-as cou-l only have oeea recon-
ciIe3 ~ tina; noble s2.ri- Of PATRIOTISM wa''h
promoted rsn-ii-a.iar. ard resulted Il harmony
In ;he same spin, tle compromise h a. !fi' cer--
r.au., ca-.ed. vas aioptef a. the session OF 1888
Y ai.e tls people of 70 portion OF the mon Wi.
s~er hesitate no nav 2 necessary taxes r;-e sup
port q: me Government -; al innate re9u-as2cs
ex.--. 70 rhe i77po>,ta. OF burthsas not really NO.
cessaIv for taai ooiect- In imposing duties, now
ever tr ,ie plrr se. of revenue. rIsSt 20 dlscr-
innate IS 70 he --cces or whien tAe d1'y 'aa.. be
laid - wei .. Tie amount necessarily and Enost
properly exists
C-h-r,y.-- the G1vera1aeat would D. placed II
the condition 4 having 70 levy ms same duties rp-
or a. aFrces the protective vel a the unPVo-
ductive. Tac .5sste<t duty upon some, mIs have
lie eject OF causing theIc Importation 70 cease
whereas Other. catering extensively mo ne coz
SUMPTION Of TIE country. might bear the Heavlesi-
without an7 sensible diuinutlsn IL the srl-unt IN
ported. So also the Government may D justified
ia 50 d,cr;rinsliHg. by reference TO other consile
ra-ous o; domestic policy connected win our man
.facuIres. 80 long ,Ae duties hal De aid with
di,.inc- reference 10 me want, Of thc Treasury. no
well founded objection car exist against them. Il
might oe esteemed desirable that such augmeuta-
tou OF the t-xe, ,E0Ga ta1e place would have the
ctirc, OF aaou.ang ;he Land proceeds distribution
act of Tie as- session. . nch act = declared 10 D.
inoperat,ve the rlIuest ine duties are increased
beyond 20 per cent. jae msNiIum rate establish
cd ny the Compromise acc.
Some OF me provisions of the Compromise act
which will 20 into EJECT on the 50 b day OF June
uexr. NAV. hewevei bo found exceedingly neon
yenenl In practice. under any regulations that
Congress may adopt. refer more particularly 10
ma, relating 70 the horne valuation. difference
IN y4lg- ot Iae --.nr Articles 20 some extent. vii,
necessarily. exist AZ different P0rts-but tsst /,
altogether Insignificant, when compared with the
.nfctf IN valuation. which are likely TO ari-e,
from the differences ot opinion among the numerous
/ appraisers OF merchandise. In many instances ;nc
estimates OF value must be coniectural, and thus
as n,hy different rates OF yalus may AZ established
a there are appraisers. These differences IN val
uation may also be Increased by The incliaatios,
which. without tue slightest imputation their
/ honesty, NAV arise ,he part of the appraisers III
favor Of their respective ports OF entry recon-
mend tnls whole subject 10 the con. iderau0n OF
/ Congress- wiju single additional remark. Ger
tainry and uermsnency u any system of govern
mental policy are. IN AL respects, emnsnt!y deslr
a7!r; blJ more particularly j., thi, true IN all that
affects iIGde aad commerce. the operations OF
which depend much more on the certainty OF their
periods OF time tnan On high bsunties, or duties,
which are liable 10 constant fluctuations.
At your late session. Invited your attention to
the condition OF the currency and exchanges, and
urged :he necessity of adopting such measures a
were consistent with the constitutional comPetGa-
cy OF TIE Government, In order 70 correct the un-
soundness OF lie one. and as far practicable the
inequalities OF tue ether. No country can be II
TIE enjoyment Of lis lall measure OF pros spcrty,
without tne presence OF medium OF exchange
approxmatng TO uniformity of value. What Is
necessary as between the different nations OF the
esrih, i also important between the inhabitants
otd ferent parts OF the country with The first
the precious meals constitute the chief medium OF
circulation, aid such a!so wouli be the : To
the las,, but Tor inventions comparatively mod
eru, which have furnished, in place OF gold and
silver, paper circulation.
do no, propose % enter into a comparative
analys, of the merits OF the two systems. Such
belonged more properly to the Penod of the iatro-
d1cton Of the paper system. The speculative
philosopher uight ind inducements to prosecute
the inquiry, but his researches could only lead him
TO conclude, tha; re paper system had probably
better never have been introduced, and that socic
" might been much happier without it. The
practica! statesman has a very different task t.
perform. He ha, to oo< at thing. as they are
To- take them - he find, them-t0 supply defcien-
ci-s aud to prrn- excesses a, far as IN nm lies
The tax %. furnishing a corrective for derange-
mrnts OF the PapeE medium with Us. IS almost In
expre>-ib!y grrat The power exerted by the
States to charter banking corporations, and whi h.
having been carried To- great excess, has filed
tie country wlrh, 10 mos. Of the S,.tes, an ire
deema5le paper Hedium, = an evil which, IN some
%ay or other. require, Il corrective. he rates al
which bills oil eNcHange negotiated between
different parts OF the country, turnis. index OF
the value Of the loca! substitute Tor gold and silver,
winch :. IN many parts, 40 Tar deprecated, not
to be received, except ot large discount in paw
rnent of deb:S or in the purchase OF produce. II
could earnestly be desired tnai every bank rot
possessing The means at resumption, should follow
the example 0f the late United States Bank OF
Pennsylvania. ard 90 into liquidation, rather than
By refusing TO do 50 to continue embauassments n
tue way ii solvent institutions, thereby augment
ag the difficulties incident 10 the present condi-
ton OF things
Whether th. Government, with due regard to
tie tights OF the States mas any power TO con
strain the banks either TO resume specie payments
10 force them into Liquidation, Is an inquiry
which wll tail to claim your consideration. In
view OF the grea, advantages which are allowed !
the corporaJor. rot among the least of waica !,
jhe authority contained In most OF their charters
10 make loans u three umes the amount of their
capital, thereby often deriving three times as much