Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1842-05-20

s,Ies of the public land IS included. The duties pro-
no.ea IN The bill submitted being in many Instances
bger than twenty per cent, lis passage VIII under
,b terms of the Distribution net, restore the income
co,n tho ,ublic lands to the National Treasury.
A,n., red is a schedule marked ID, designed TO show
,h. ,nonnt If imporalions in 1910 of the dutable
tcles uded in the present bill, and oil The revenue
Itch woulJ accrue from each at the ofdu:y now
proposed.
The importatons assumed as the basis
of revenue seen to amount to
500. sI7 $50, yielding gross revenue -.
- s32,6o3,335 81
From which deduct estimated amount
of drawback merchandise ex-
ported on refined sugar and spirits,
p,cked fish, and expenses of coilec-
BON 100000 90
Leaving nett revenue oil S.I,itooo' -
In the existing state of the country, embarrassed ana
crpped as is from end to the other, Is Impos
sibe to make any estimate of the amount OF mporla
tons during the present and two following years. that
can be fully relied In the port oil New YORK; Tue
in the first quarter OF tins year were nuc
less than in the corresponding quarter OF the year ioll
and the succeeding quarters OF the current year tue
disproportion is likely to be still greater WINE ,he
removal of portion of the duties on the 1lst OIL De'
ccmber last brought into the country large amount
of products which waiting for that event, the IN
crease of duties by the tariff now proposed, on many
important articles together with the cash system OF
payment will operate, no doubt, Tor lhe' " c"eeN
inporla,ions. There other circumstances 10 DIS.
courage importatons, among winch may be mentioned
the decline the prices OF some oil our staple aruces
oexpor and the large State loans effected IN Europe
which were paid productions of foreign Manufactures
and still outstanding pc rnanent balance against
this country. g,
Although the estimate Of imports for the present and
two ext succeeding years is given at ninety three mn
lions it is proper state that, owing to the circum
stances above adduccd 1t will not be matter oil sur
mise if they should in the average amount tall SNORT
of the sum mentioned. But II IS believed That the
trade and business Of the country, as well domestic as
foreign, have reached nearly so, their lowest point
of depression and that under the benign influence OF
the system of duties proposed they WILL IN the course
oc another year. begin TO improve and, at The END oil
three years, recover their fnrmer prosperity Under
this expectation the duties tea and coffee are limited
IN the bill to three years after which PERIOD 1t IS ex
pec,ed that the accruing from other sources
will be adequate to meet the current wants oil Inc 70
yernment and finally, to extingush the public debt
have already adverted to the influence of the sys-
TEN Of cash duties in checking redundant mportatons
The annexed table, marked Z, will show the influence,
generally, of duties upon lmPortations IT does not
comprise all the articles included in the present bill,
but embraces number sufficient in amount and import
ance TO exhibit complete view oil the principle which
this statement is designed TO eucidate. 1t commences
in The wear preceding the rise of duties under the Iar
Of ls3J and extends TO lc40 inclusive, so as 10 en-
brace the periods when the highest rates OF duty were
exaced, and that of their decline under the Compro-
table that although the increase of duties was follow
ed in some instances by slight falling OFT in nPorta
tons the latter TO their former amount ard
suffered no material dimnuon under the operation OF
the highest rates OF duty.
These facts are persuasive TO show that the duties
now proposed do not in the main, exceed the true re-
venue point and that the increase OF income which
they are expected to yield will, whenever trade
shall have resumed lis regular and natural course
be realized
But. should even different result be experienced,
and the foreign supply decline in ratio exceeding
that of the increase of the dnes, or be cut oil alto
eether il by no means follows that there Will be
Corresponding decline in the aggregate receipts OF the
Treasury On this subject, the views OF Mr. Craw
ford late Secretary of the Treasury contained in his
report TO Congress made in December, 1s22 are both
pertinent and instructive: "But it,, says the report,
'conary TO present anticipation, the proposed aug
nen,aon Of duties should, before the public debt
be redeemed, produce diminution OF the revenue
arsnr from the importation OF those articles, cor
responding if not greater augmentation may De
confidently expected upon other articles imported
into the United States. This supposton rests upon
the two.fod conviction, that foreign articles near
Is equal to the value of the domestic exports will be
imported and consumed, and that the substitution OF
particular classes of domestic articles for those OF To-
reign nations not only does not necessarily DIMINISH
the value of domestic exports, but usually tends to IN
crease that value.
| desire. however, that the principle in view of the
cotton hemp iron, and the manufactures of each OF
those materials as well from leather, should be dis
tnc;ly understood. They regarded as objects OF
great national concern and their permanent supply at
home essential 10 real independence.
Although it is admitted that entire home supply
canno, be Immediately attained without actual at
least possible prejudice 10 the interests OF portion of
the American people, yet the imposition OF duties al
such rates shall tend gradually but certainly TO in
crease such supply, while they more than meet the
ahs q Treasury
deemed to be not only e1pedient in ITSELF but entitled
to rank among the obligations OF Government to the
whole country.
There other articles which, though not strictly
classed among the absolute necessarIes of life means
of national defence yet Of great convenience and
importance; ard the extent and variety OF labor en-
ployed in their production are such as 10 call Tor the
favorable notice OF Government.
With regard 10 the influence Of duties upon prices in
our home market, il is not necessary TO say much at
this time The subject was briefly considered in my
report the finances ID, cember last, and viii only
add in this place. that the additional cost, 1t any, to
the otnported articles or those OF like de-
scrp,ion produced al home arising from the imposition
of duties, not the single point TO he regarded IN de-
erminng whether not such duties are to be treated
as positive uncompensated burden. We are 10 look
much further, and ascertain their effect IN extending
tho home market Of our agricultural products and their
influence upon the value OF land and oil labor oil all de-
scrp,ions. In such survey II will be found that the
benefit thus accrung will be enhanced out of all pro-
portion the increase, if any, in the cost Of dut'able
articles while the yearly produce of the country, or,
which is the thing, the yearly earnings Of the
people, thus materially enlarged all this being bu,
the natural consequence of the great TRUTH that labor
and industry the true of national wealth and
prosperity; ard of another truth plainly resulting .rom
The frst that the earnings of labor and industry
much in proportion TO the degree of encouragement
they receive, and 10 the variety of employment which
NAV be offered TO their pursuits.
With view 10 guard tn revenue against fraudulent
undetvaua,ions, which cannot be entirely prevented
by the existing scheme Of al raiorem duties, specific
duties are proposed in nearly all when pract
cable The operation of the system Of specific duties
may not be perfectly equal in all cases. in respect 10
the value of the articles included under it, But this
inconvenience is more than compensated by the secu
rty of the revenue against evaslons and by the ten
Gencv Of specific duties exclude worthless and inle
rior articles, by which purchasers and consumers are