The Hillsborough recorder. [volume] (Hillsborough, N.C.) 1820-1879, 1842-05-05

Il ahe .msaaiseiuEers. sHerr, hen, q
three sererrl psrssculars. al u lhem high
N important; he principle q protection
vas eonlessedly. and Of deliberate design,
Iensraflsd IN de eompromise biil- 30 lar
from is involving m sbandonmeni q hat
principle. Il would have been ulieriy I'M
sossib,e: a. the Senator must know, 90
have carried he bal through Congress
with such an svonsi from Us friends. Al
Vas very irue lhat tae set did modify he
protective policy; but, in that fnodiiled
faEin. il recognised. proclaimed, and per-
peiuaied thai Poliet:
-Whzt we're he instances on which The
sensiDr dwell In coniending that these
resolutions violate that acIl
4. That lhey went 10 enlarge The list
Of free articles.
Q. That nothing was done Al the extra
session 10 effect relTenchmeni Of the pub
Tic expenditures; and
3. That The resolutions contemplate The
raising Of duties on imports beyond lwen-
Is per cent.
On each Of ihesc points he Mr. clayl
would now cndeayor 10 satisfy the Senate
lhat he objections were wholly void Of
foundation.
The first ground Of objection was, that
il these resolutions were adopted the list
Of free articles must be enlarged. And in
reply 10 ii Mr.. q. would enter into brIei
exposition OF The various provisions OF the
compromise act. =,
There are two periods Of time referred
70 IN that act IN regard 10 the imposition
OF duties, viz: the period previous 10 the
3Oth June, 1872. and the period aiier
that day. The first section Of the act re-
ducss the duties exceeding twenty per
cent down TO twenty per cent. by spe-
cited scale, and by the 3Oth June, 1872;
but il does not touch articles subject to
duty Of less than twenty per cent. lnre
gard 10 these it makes no arrangement
whatever. In reply to the idea which =
entertained BY some persons and which
has been enormously insisted on here,
that the act inhexibly determines that a
duty Of twenty per cent. shall be forever
levied and invariably maintained under
any circumstances whatever, however uii-
jus, or imperative they may be, let me
suppose case.
Let me suppose that slate Of things
shall arise in the country in which, under
an economical administration Of the Go
yernment, duties Of less than twenty per
cent. would suffice: that twenty per cent.
would be rate Of duty too high, and, IL
imposed, would bring a surplus Of reye-
nue. into the Treasury. Does any gen
tleman doubt that under such eircumstan-
ces we might reduce the rate below twen-
ty per cent. without violating the COM
promise! None can doubt il for a mo-
ment. All the first section does IS to re-
duce all duties which are above twenty
per cent. down 10 that standard. What
shall be done afterward, is question sub
United TO the wisdom and discretion Of
Congress. ....
One Of the resolutions ] have offered
declares that il was assumed at the time
of the passage Of the act that twenty per
cent. would be sufficient TO produce reye-
nue. enough 70 provide for an economical
administration Of the Government; but the
distinguished Senator from New York
tMr. Wright has said that he knew Of
no such assumption, and he thinks that
he finds very plain inference 70 the con-
tfary from the words Of the last section Of
the act, where 1t declares that nothing
therein contained shall be so construed as
;. TO prevent the passage Of any act, prior
10 the 3Oih June, lS42, in the contingent
cy either Of excess or deficiency Of reve-
nue., altering the rate Of duties on articles
which by the aforesaid act Of the 18th day
of July, 1882, are subject to less rate OF
duty than twenty per cent. ad valorem, in
such manner as not to exceed that rate,
and so as to adjust the revenue 10 either
of the said contingencies" But that
clause, whilst il anticipated and provided
for the possibility Of an excess or dimi-
hutton Of revenue, does not touch at all
the protected articles, but is exclusively
limited to free or unprotected articles.
The assumption to which allude, 10 the
resolution, is to be found in the content
poraneous history Of the act, and is EN-
bodied in the last clause of the fifth Sec
ton, which provides that &C. all imports on
which the first section of this act may
operate, and all articles now admitted to
entry, free Of duty, or paying less rate
of duty than twenty per cent. ad valorem
before the said 30th day Of June. 1912,
from and after that day may be aamitted
to entry subject to such duty, not exceed
ing twenty per cent. ad valorem, as may
be provided for by law"
| admit iha, if the case stood alone on
this 9Th section Of the law, il would es
join an absolu,e limitation Of the duty to
twenty per cent. Here is power. how.
ever. left to Congress 10 discriminate
in all duties under twenty per cent as in
its WELDON il may see ii; but. assuming
that with a general duty Of twenty per
cent. on all articles, revenue sufficien,
might be Obtained to provide for just
and economical administration Of HE TO