Martinsburg gazette. [volume] (Martinsburg, Va. [W. Va.]) 1833-1855, 1842-12-15

been made. Inc scnoolmaSter ana TIT
missionary are found side by side, and tn,
remnants of what were once numerous
and powerful nations may yet be presery
ed as the builders up Of new name fo
themselves and their posterity.
The balance in the Treasury on the Is
of January, (lS42, exclusive of the amour
deposited with the States, Trust Funds ant
Indemnities) was S230, 4S3 &c. The re,
ceipts into the Treasury during the three
first quarters Of the present year, from al
sources, to amount $26,6l6,593 IS; O
which more than fourteen millions were
received from customs, and about one
million from the public lands. The re.
ceipts for the fourth quarter are estimated
at nearly eight millions; of which foul
millions are expected from Customs, and
three millions and half from Loans and
Treasury notes. The expenditures Of the
first three quarters of the present year ex-
coed twenty-six millions; and those esti-
mated for the fourth quarter amount TO
about eight millions; and it is anticipated
there will be a deficiency Of half million
on the LIST of January next-but that the
amount of outstanding warrants ESTIMATED
at $S00 COO will leave an actual balance
of about 1924, 900 in the Treasury
Among the expenditures of the year, are
more than eight millions for the public
debt, and $500, 600 on account of the dis
tributon 10 the States of the proceeds OF
sales ofthe public lands.
The present tariff Of duties was some
what hastily and hurriedly passed near
the close of the late session of Congress
That il should have defects can, therefore,
be surprising to no one. To remedy such
defects as may be fond to exist IN many
of its numerous provisions, will not fail 10
claim your serious attention. Ii may well
merit enquiry, whether the exaction of all
duties in cash does not call for the intro
duction of system which has proved
highly beneficial in countries where it has
been adopted. Irefer to the Warehous-
ing System. The first and most promi-
nent effect which it would produce would
be to protect the market alike against re-
dundant or deficient supplies of foreign
fabrics--both of which, in the long run,
are injurious as well 10 the manufacturer
as the importer. The quantity of goods
in store being at all times readily known,
it would enable the importer, with an APP
proach to accuracy, TO ascertain the actual
wants of the market, and to regulate him
self accordingly. If, however, he should
fall into error, byimporting an excess above
the public wants, he could readily correct
its evils by availing HIMSELF of the benefits
and advantages of the system thus eStab-
lished. In the storehouse the goods i'm
ported would await the demands of the
market, and their issues would be govern
ed by the fixed principles of demand and
supply. Thus an approximation would be
made TO a steadiness and uniformity Of
price, which, if altainable, would conduce
to the decided advantage Of mercantile and
mechanical operations.
The apprehension may be we'll enter
tanned that without something to amelio-
rate the ngor of cash payments, the en-
tire import trade may fall into the hands
of few wealthy capitalists in this coun-
try. and in Europe. The small importer
who requires all the money he can raise
for investments abroad, would have to
snbduct in advance portion of his funds
in order to pay the duties, and would lose
the interest upon the amount thus paid for
all the time the goods might remain un-
sold, which might absorb his profits. The
rich capitalist abroad, as we'll as at home,
would thus possess, after a short time, an
almost exclusive monopoly of the import
trade, and laws designed for the benefit Of
all, would thus operate for the benefit of
the tew,-a result wholly uncongenial
with the spirit Of our institutions, and an
ti-republican in all its tendencies. The
Warehousing System would enable the
importer to watch the market, and to Sc
lect his own time for offering his goods for
sale. A profitable portion Of the carry
ing trade in articles entered for the bene-
fit Of drawback, must also be most seri-
ously affected, without the adoption of
some expedient to relieve the cash svs-
tenn. The Warehousing System would
afford that relief, since the carrier would
have safe recourse TO the public store
houses, and might, without advancing the
duty, reship within some reasonable Pc
Rod TO foreign ports. A further effect Of
the measure would be TO supercede the
system Of drawbacks, thereby effectualIy
protecting the Government against fraud,
as the right of debenture would not at
tach 10 goods after their withdrawal from
the public stores.
In revising the existing tariff of duties,
should you deem it properto do so at your
present session, | can only repeat the sug-
gestions and recommendations which, up
on several occasions, | have heretofore
felt il my duty to offer 10 congress. The
great primary and controlling interest of
the American People is union-not only
in the mere forms Of government, forms
which may be broken-but union ioun-
ded in an attachment Of States and indi-
viduals for each other This union in
sentiment and feeling can only be preserv-
ed by the adoption Of that course of poll
cy which, neither giving exclusive bene-
fits to some, nor imposing unnecessary
burdens upon others, shall consult the in
terests Of all, by pursuing course Of
moderation, and thereby seeking 10 har-
monte public opinion, and causing the
People every where to feel and TO know
thai The Government is carefnl of tha in