Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1842-04-01
No. I0o.--VOLUME XXXvIII.

expense the injury of another portion or class
The golden rule, then, moderation, which conciaes
and unes the interests of all, without violating the
rights of any and the object be aimed at in every
such system OF policy should be TO assist The sponanc-
Gus Developments and tendencies of The natara order Of
things and not 10 force 10 attempt TO control them
by purely artificial regulation. have already referred
to the natural relations and pursuits Of the different
portions of the Conederacy, as indicated in its phys-
cal conformation, aud how, the order of providen
,Ia arrangement, they designed to be auxiliary TO
the supply Of each others wants. and to be mutual cue
toners, instead Of rirals. Let beware, lest b.
much regulation disturb and break up this friendly
and harmonious arrangement of Nature That lis de.
ve!opment may be assisted Ia certain extent, and
the advantage OF all, by wise system Of po
hey, do not deny but ii that policy should lie carried
80 far give undue encouragement any par,ici:-
lar branch OF national industry, manufactures for
ampe,) is it perceived that the effect will be 10
break up the natural aud friendly relation of mn;nal
customers, which ought 10 exist between the different
divisions OF the Conirderacy. and 10 substitute in lis
place the conflicting and jealous rirals solicited
into the field of employment by the undue Ell.
couragement gwen TO the favored branch Of industry
Moderation alone affords The happy means by which
unpleasant collisions OF every soT, may be avered ia
the adjustment OF these delicate questions; and it be
cause the spr; Of wise moderation presided tie
compromise OF 1888, and because stability of legisla
ton, so essential 10 the prosperity OF every indus
trious pursuit. would be most etiectually secured by
an adherence it, that have felt an anxious desire
to see it preserved nviolaie. Ii break up from,
the moorngs of that compromise, again at sea,
the most agttatng of all questions my honorable
friend from Massachusetts (Mr Bates) and myself have
| reason TO know fiom what We witnessed of,tte>e
painful struggles lS!I and lS25, aud there is tell
ing how long shall be bufle;ied ~ contrary winds
or whether, indeed, we shall be again able TO make
friendly port Cannot, then, this promise BE- get
preserved by fair and liberal execution of all lis pro-
visions, yielding adequate revenue, and wounding
or endangerng none Of the great interests of Ameri
can industry. have heretofore stated 10 the Senate,
my of the obligation involved in The principle OF
home valuation, concession understood, at the tme
10 be made by the compromise TO the manufacturing
teres in consideration of Tie reduction Of the rate Of
duty 30 per cent. Il, agreeing that the duty should
be assessed upon the home, instead OF the foreign
lue, invoice price, oil the articles imported, /! was
certainly intended that the dnty should be calculated
upon hehtr value, which would have the effect,
in the practical result, increasing the rate OF duty.
IT, then, there should be supposed TO be cons'iiu-
| lional impeachment, the honorable Senator from
South Carolina (Nlr. Calhoun contends, to a home
valuation in form, or II 1t should DE deemed highly
incon venent impraccable in It's nature and opera
ton it easy TO ascertain fair equivalent for
in fixed and higher rate of duty, and 10 commute 1t
for that rate; The difference between home and foreign
value is varously computed at from twenty TO thirty
per advance upon the foreign cost Let US take
the mean, and suppose il 10 Ge equal 10 twenty..ve
per cent. advance the foreign cost. Th'r would
be equivalent 10 adding five per cent 10 the -aic Of
duty aud would give 4 fixed duty Of twenty five per
cent as the fair measure OF home valuation, with
twenty per cent. rate Of duty Let this rate of duty,
then, he substituted as the equivalent of home vaua.
ton, and feel strong persuasion that 1t would y'eid
both adequate revenue to the Government and "a
tisfactory protection to domestic industry In the eii
mate of the Hon Senator from Kentucky, (Mr Cny,)
which has been followed by most of the gentlemen
who have addressed the Senate this side of the
chamber 81 millions of dollars were assumed as tie
average amount of dutaba imports for OF
to come | cannot bat think ,ha; estimate is too low.
In the tables accompanying The annual report nj Mr..
| Ewing at the Extra Session OF Congress, find the
gross of imports for series ot SIX years ter
lninang with 1910, averaging annually ll4 millions,
During the same period, the exports averaged ennn
ally l37 millions. Upon tins basis, lie assumed 40
millions the probable annual average amount OF
imports for series of years 10 come Then deductn@
about fifteen millions for free articles, there remained
one hundred and twenty-five millions, upon which he
calculated duty Of ~ per cenl. in the estimates
submitted by him Congress. In the flcc of these
exhibits think ii would be quite safe 10 assume the
round sum oi G0 millions o dollars as the probable
annual amount of dntable imports tora series of years
to come That believe, viii he found 10 be the point
TO which our duabe imports will g:avitatc for soma
years-sometimcs, possibly, little below, but more
generally above. Assessing, them a duty OF - per
cent. (Which suppose 10 BE- The tar equivalent Ct home
valuaion) upon that amount, have gross revenre
of - millions of dollars. DedGcting 100000 dollars
for expenses Of collection, estimated by the Senator
from Kentucky, (Mr. Clay,) and there would remain
23 400 900, Nwenty three millions four hundred thou
sand dollars to which, adding three Millions the est-
mated annual average amount Of the land sales, We
should have aggregate revenue OF wenty-slx millions
four hundred thousand dollars, exceeding by four hun
dred thousand dollars the which the honorable Sc
estimates necessary for the current expenses
of the Government, and the gradual discharge oil the
public debt. Thus by restoring the Land fund to Tie
National Treasury, and carrying out IN good ialih
the principle Of home valuation, by giving n far
equivalent for it, the compromise is preserved intact
IN all its parts, adequate revenue obtained for the
Government, and incidental TO il due fr3tecuon
should trust, would be given to all the great interests
Of domestic labor and production, while that stability
Of leg sation, which above every thing else, essen
tia TO the prosperity OF industry and trade, would he
secured by an adherence 10 solemn legislative ADJUST
mcnt of conflicting inter, SIS which has been thefto
respected and would continue TO be respected by all
parties. would then, most respectfully, appeal TO
| honorable gentlemen who represent the manufacturing
interests of our country this floor, whether, IN view
Of all these considerations, IT IS not better 10 Tor them
to abide fair trial of the Compromise act, on the prn
cples have venured TO submit; aud If 1t he found, on
experiment that any of those interests which have
grown on the faith of former legislation cannot IRE,
to use phrase somen hat TECHNICAL under The rednccd
scale applied by tue Compromise act, then the instinct
of neres, and the spirit OF ira'ernal concord
which anmales and holds together iis glorious unon
of ours will hasten, doubt rot 10 d. them iuli and
equal lns,ice. But have already extended these hnf-
red observations further than intended when rose
and asking pardon Of the Senate for The rasPass Deg
leave 10 presen: the resolutions hold in my hand
and move that they be printed Tor the consideration o.
the Senate.
The Resolutions were then read as follows:
Strike out the ID 3D. 4lI and 9Th resolutions OF Mr.
Clay and substitute the following:
l. Rcsoised That, in the present embarrassed condl
ton of the finances, and at moment of critical ccnc
ton of the national finances and at moment OF cf
teal uncertainty in the otes relations Of the county,
is Of paramount importance 10 he interests OF me
whole Union, that the General Government SHOULD
have the aid of all the Of revenue with winch
has been heretofore been endowed for the mamie
nance of the public credit and the efficiency OF the pup
lie service. r
, Resorcd, Tia, the distribution of the proceeds OF
the public lands among the States having, y the terms
If the law which enacted il, been made expressly de-
pendent on the continued Limitation Of the cu''es on
foreign imports I" rate n'' excfelas ~ per CENT a.
provided for b. the Compromise Act, and It being now