Boon's Lick times. [volume] (Fayette, Mo.) 1840-1848, 1841-07-10

tual measures to prevent its further aug
mentation. The obvious remedy is to in
crease the revenue as far as may be without
unrcasonably burdening commerce, and to
reduce the expenditures within the limits
Of strict economy.
But as it may not comport with the views
of Congress to 90 into a revision and adj
Justment Of the customs 50 long before the
act of March 2, 1888, comes to have its
final and permanent operation, the under
signed would respectfully recommend, as
temporary measure. the lcavy of duty
Of 30 per cent. advalorem on all articles
which are now free of duty, or which paw
a less duty than 30 per cent except cold
and silver, and the articles specifically Gnu
mcratcd in the 9th section of the act of
March ID, 1888.
If this measure be adopted, it is estima-
ted that there will be received into the
Treasury from customs, in the last quarter
Of the present year, about $5.3OO,0OO in
all the year 1912, about 22.50OO0C: and in
the year 1913, after the final deduction un-
der the act Of March ,. 1888, about 500
100000. The details of this estimate will
be foundin the accompanying paper, mark
cd L, and enclosures.
1t is believed that, after the expenditures
required for the public service in the present
year shall have been provided for. the rev.
cnucs which shall accrue from that, or a
nearly proximate rate Of duty, will be suf-
ficient to defray the expenses of Govern
ment, and leave surplus to be annually
applied to the gradual payment Of the ma
tional debt, leaving the proceeds Of the
public lands to be disposed of as Congress
shall think fit.
The general principle on which the final
revision of the tariff is to rest, are perhaps.
simple and easy to be apprehended, but the
work of revision itself, in its adoption and
detail, must be work of time. 1t should
be done on calm reflection and careful de-
liberation, with q view to reconcile, as far
as possible the conflicting opinions, and to
promote all the various interests of the
whole People of these United States. And
it may be important, in that ad justment,
not only to reciprocate on fair and equal
principles, and in a liberal spirit the con-
cessions which may be accorded to our
commerce by foreign nations. but also to
dc justice to our own citizens by meeting
in like equal spirit any heavy exactons
or prohibitions which foreign nations NAV
think fit to impose upon the importation Of
our staple productions.
Some legal provisions are also required
to correct inequalities between the duties
upon sugar and moasses, and the drawbacks
upon refined sugar and rum, manufactured
or distilled from foreign materials. The
relation between the duty and the draw
back was adjusted by the acts of January
2lst, 1929, and May 10Th, 1880 since which
time the duties have been diminished.
while the drawbacks remain the same
And provision Of law declaring that all
Inon-cnumeratcd articles which bear sim
ilitudc to any enumerated article chargea-
bic with duty shall pay tie same rate of
duty with the article which it most rcsem-
bles, would save large sum annually to
the revenue, and prevent much annoyance
and litigation between the importer and the
officers charged with the collection of the
customs.
OfMc Public Debt.
But it is not expected that any modiflca-
ton Of the revenue laws will be operative
to supply the immediate wants of the
Treasury, and to pay the debts which fall
due in the present and ensuing year. A
further loan is necessary to effect these OBJ
jects, and the only questions that can arise
are as to the mode Of procuring the loan,
the character of the securities, and the as
sumcd duration of the debt.
1t would, in the opinion of the under
signed, be unwiso to charge upon the COM
merce or the resources Of the country. in
any form, the burden of paying at once,
or at all hastily, the national debt. Before
that is done, measures of restoration and
relief are required. The currency Of the
country should be restored. and commerce
and industry relieved from their present
state Of embarrassment and depression.
and a benign and liberal policy on the part
of the General Government should call
forth once more the hardy industry and &C
tive enterprise of our people, and the vast
resources Of our country.
If we assume the period Of from five to
eight years as that in which this debt can
be paid without Inconvenience and ombar-
rassmcnt-and the time appears to be short
enough-Wc have one Of the most essen
tiaI clements on which to form our Judgment
as to the best and most convenient mode
in which the loan can be kept up, and the
credit of the Government sustained.
In the inception and during the progress
sive increase of a national debt, the issues
Of Treasury notes, though dangerous and
dcnsive, have yet their advantages. They
need not be issued faster than the actual
wants of the Treasury require; and the
mower IN iSsue apv C,iypp c,r,,, !, E,r oil 90