Herald of the times. [volume] (Newport, R.I.) 1830-1846, 1841-12-16

p'eied, and exhibits grand total Of 1000.
/ 5i3; making an increase over the Census OF
1880, Of 4 42C2 GAG inhabitants, and showing n
gain in o ratio exceeding 80 l-2 per cent. for
the last ten years.
From The repor, Of the Secretary Of the
Treasury, YOU will be informed Of the con.
dnion Of the finances. The balance in the
Treasury on the frs. Of January last, as sta
ted in the report of the Secretary, submitted
Ia Congress ut the extra session. was $o57,-
II 345 O3. The receipts into the Treasury, du.
ring the first three quarters Of this year, frou'
III sources, amount to s23, ,467. .052 SO. The
.slimeted receipts for the fourth quarter
amount to s694395 25, amounting to
II i30.4I0.l ICY II; and making, with the balance
~ the Treasury, on the first of January last
II So, ,297, 7,5i2 80. The expenditures for the
hr.t three quarters Of this year amount Ia
II S25 734. .346 %. The expenditures for the
fourth quarter, as estimated, will amount IA
Il 81. .29O. .72;, 73:-thus making u total Of $32,
O25 5,O7O; and leaving q deficit TO be provided
for. on the first Of January next Of about
SG27 .557 80.
or the loan Of sI2,OOO.O 900, which was al.
thorsed by Congress at its late session, only
II IS 432, ,726 80 have been negotiated. The
H .hortncss Of time which il had TO run, has
4 presented no inconsidcrable inpcdiment in
he way Of its being taken by capitalists at
home, while the same cause would have OPP
Grated, with much greater force in the foreign
market. For that reason the foreign market
has not been rcsorted to, and il is now submit.
ted whether it would not be- advisable To a.
mend The law by making what remains undls.
X posed of, payable OF more distant day.
Should It be necessary, m any view that
4 y. t,.l,n .l In rt t..r n % a.
the existing tariff oi duties, | beg leave To
say, that, IN the performance oftha, most del
icate operation, moderate counsels would
seem to be the wisesI The Government
under which II il our happiness to live, owes
ITS existence To the spirit Of compromise
which prevailed among its framers-jarrlng
and discordant opinions could only have been
reconciled by that noble spirit Of patriotism
which prompted conclation, and resulted in
harmony.-In the same spirit the compro-
mise bill, as il is commonly called was adopt.
ed at the session Of 1893.
II While the people of no portion Of the
\ Union will ever hesitate to pay all necessary
taxes for The support of Government, yet an
innate repugnance exists TO the imposition OF
burthcns not really necessary for that object.
Ia imposing duties, however, for the purposes
of revenue, a right to discriminate as to the
articles on which the duty shall be laid, as
well as The amount, necessarily and mos,
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 as The unproductive. The
slightest duty upon some might have the
effect Of causing their importation to cease,
whereas others entering extensively into the
consumption Of the country, might bear the
heaviest, without any visible diminu,on in
the amount imported. So also the Govern.
men, may be justified IN discriminating, by
reference TO other considerations Of domestic
policy connected with our manufactures
So long as the duties shall be laid with dis.
tinct reference 10 the wants OF the Treasury,
no well founded objection can exist against
them.
| 1t might be deemed desirable that no such
| augme ut0lion Of The taxes should take place
as would have the effect Of annuling the
land proceeds net of the last session. which
act is declared to be- imperative the moment
the duties are increased beyond 20 per cent.
the maximum rate established by the Com.
promise Act. Some OF the provisions Of the
lCompromlse Act, which will 20 into effect
Oh the 30pI day June next, may, however, be
found exceedingly inc0nvenIent in practice.
under any regulations that Congress may
adopt. ] refer more particularly to that re.
atiDg To the home valuation. A difference
IN value OF the same articles to soae extent,
will, necessarily exist at different ports-but
hat Is altogether insignificant, when CON
pared with the conflicts in valuation, which
are likely to arise. from the differences OF
opinion among the numerous appraisers Of
merchandise. In many instances the esli-
mates OF value may be es ablished rs there
are appraisers. These differences in vaua.
tlon may also be increased ty the inclination,
which, without the slightest impuiation on
their honesty, may arse on The part OF the
appraisers IN favor Of their respective ports of
entry. ! recommend this whole subject to
the consideration Of Congress, with a single
additional remark.
Certainty and permanency in any system
of governmental policy are, in oil respects.
emnenlly desirable; but more particularly
Is this true in all thot affects trade and com
merce, the operations of which depend much
more on the certainty Of their returns, and
calculations which embrace distant periods
of time, than on high bounties. or duties,
wlch are liable 10 constnn, fluctuations.
At your late session, invited your a,ten.
ton 10 the condition of the currency aud ex-
changes, and urged the necessity OF adopting
such measures as were consistent with the
constitutional competency of the Governmen nj
In order 10 correct the uDsoundness Of the
one, and as far as practicable the inequali
ties Of the other. No country can be in the
enjoyment OF its full measure of prosperity,
without the presence Of medium of ex-
change, ap2r"xlma,ng tn uniformity Of value.
What Is necessary as between different ma.
tons of the earth Is also important as be-
tween the inhabitants of different parts OF the
same country; with the first the precious
metals constitute the medium Of circulation,
and such also would BE- the case as To the
last, but Tor inventions comparatively mod
ern, winch have furnished, IN place Of gold
and silver, a paper circulation. ! do not pro-
pose To enter into a comparative analysis Of
the merits OF the two systems. Such belong.
ed more properly TO tho period Of the intro.
duciion OF the paper system.
The speculative philosopher might find in
ducements to prosecute the inquiry, but his
researches could only lead him to conclude,
that the paper system had probably bctier'
never have been introduced, and that society |
might have been much happier without it
he practical statesman has a very different |
task TO perform. lie has to look at things
rs they are--to take them--to supply def.
cIenccs, and to prune excesscs as far ns in