The Cecil Whig. [volume] (Elkton, Md.) 1841-current, 1842-03-19

home valuation. and leaving that snbjer
to be arranged hereafter, shall treat tn
subject as II the present system OF lorelsl
valuation is to continue.
| then return TO the inquiry, on an i'm
ola,lon amounting to nine!y-one mi
lions, how much duty must be impose
IN order to raise Il nett revenue OF twenty
six millions? The question does not ad
nit of perfect accuracy; the utmost tina
can he reached is a reasonable approXln'a-
ton. Suppose every one oi the imp 'rted
articles to be subject to duty OF thirty
per cent, then the gross revenue will a
mount to S27,}00.0J0, Deducting til
expenses of collection, which may b.
ated at Sl,600,0O0, will give $2570O.
00U. or three hundred thousand dollar
less Than the proposed amount OF twenty
six millions.
Bat might as we'll take this orportu
MY to explain Il subject which is II"
we'll understood. 1t has been supposed
when prop sc To fix rate of ad va!o-
rem duly as the maximum to he aIloWc'
thal my meaning is, that al, articles, q
every description, arc to be carried up (,
ihat point. and fixed at that rate, as on t
sort Of bed Of Procruses. But that ism"
my idea. M doubt certain articles ought
10 90 up To the maXimum-l mean tho~'
of prime necessity belonging TO the elias,
of projected articles. There are others
such as jeweIry and watches, and some
others of small bulk and great compare
i've value, and therefor" easily Struggled
and presenting a great temptation to the
zion Of duty, which ought to he sub
iacled to Il less rate There shoulh,' here
fore, be Il discrimination allowed IN de
: the maximum rate arco ding to the cXi-
gency of he respective circumstances oI
each particular interest concerned. Sine
: it will require IA duty of thirty per cent.
on all articles to give the amount q"
twenty-five million seven hundred .hou-
sand dol 'ms, and since some Of Ihcm will
not bear so high a duy as thirty per cent,
; il follows that less Than that rate Will Ger
! ianlv not answer the necessary demands
of the Government, and it may in some
: particular cas- : require a rate somewhat
! higher than that in rider to raise the pro-
} posed u IN of twenty SIX millions. RnI
q Il, the deserved fund of two millions ior
cont iugcucIcs wiIE moi require an annual
= rePen se for that purpose. should the a.
e mount of duties lie led be less than TWEEN
: tv-slx millions, or even between twenly-
four and twenty-five millions, the reserves
fund may be made up by Accommodations
+ during successive years, and still leave an
/ amount sufficient to meet an annual eX-
= pendllure Of twenty-five millions and lwt
millions for the public debt.
! now approach the consideration of ;
G very important br. nch Of the subject il
. lis conur Xlon with the compromise act.
! shall not here attempt to goaLam in
:, TO the history of that act. VIII only
say that at the time OF its passage, it wa
thought right that the country Shout,
: make fair experiment of lis effect; ant
"A tsal, q the law itself met the appreciation
: Of all parts of The country, its provision.
ought not lightly to he departed Irom;h a
- TIC principles oI the act should be o. ser
" we'd in good faith; and that, if il be neces
n ,ary to raise the duties higher than TWEEN
o ~ Ter cent, we nugi t To adhere to the
II principles OF the compromise, then, IA
y ar as it should lie possible to do so.
e ave been animated. in the propositions
e now offer to ,hc Srraic, Ly the SAINT
J.. desire thai prompted NE Whenever lh'
" act has been a~.ailed By its opponents, Il
sand by it and defend it.
e Bat it is necessary now to conshe
L. What the principles Of the comproms'
i act really are.
l. The first principle is, that there
should be ixc rate of al valorem duty
y md determinations below it.
" 2 That the excess of duty beyoHo
wcnty per cent. should, ny gradua
,rnccss, commencing on the 3lst Decem
per, 1893, be reduced, so that by the SOU
Iuae, 1912, it should be brought down
o twenty per cent.
5. That, after that day, such duties Mjt
nr the purpose Of raising such rev nue. a.
nigh, be necessary for AN economic" ad
, ninistrarion Of the Government; conse-
qucntlv excluding al resort to intcrna
aXa,ion, or to the proceeds of the public
ands. For. conlrmpolaneously with Ih'
endencv of the compromise act, Il bill
vas pending for the distribution of lhoe'
proceeds.
4. That, after the 30th June, 1912, al
Juties should be paid in ready money, IL
he exclusion Of all credits.
5. That, after the same day; the as
.eSsmcnl of the value Of all import
should be made at home and not abroad
= 6. Il hat, after the same day.a list "
e articles specified and enumerated in lh
) act should be admitted free of duty 70
he benefit of the manufacturing inter
est
= These are the prncinles, and all thl