Vermont phÅ“nix. [volume] (Brattleboro, Vt.) 1834-1955, 1842-12-09

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= half from Loans aud Treasury Notes. Tho
\ Expenditures of the first three quarters o
G the present year exceed twenty six millions
and those estimated for the fourth quarter
amount TO about eight millions; and 1t !:
; anticipated there will be deficiency OF bal
million on the LIST of January next-bu
that the amount of outstanding warrants les
timaled at $500, 000) will leave an actual
! balance of about 1924 600 in the Treasury
| Among the expenditures of the year arc
more than eight millions for the public debt,
and 5000, 600 on account o!thc distribution
TO the States of the proceeds Of the public
lands.
/, The present Tariff of duties was somewhat
hastily and hurriedly passed near the close
of the late session of Congress. That 1t
+ should have defects can, therefore, be sur
Iprising to none. To remedy such defects
+ as may be found to exist in many of its nu-
merous provisions, will not fail to claim your
serious attention. 1t may well merit enqui-
+ ry, wheihey the exaction of all duties in cash
does not call for the introduction of sys-
TEN which has proved highly beneficial in
countries where il has been adopted. | re-
fer to the Warehousing system. The first
and most prominent effect which it would
produce would be to protect The market a.
like against redundant or deficient supplies
of foreign iabrics-both of which, in the
long run are injurious rs well to the manu-
lacturer as the importer The quantity of
goods in store being at all times readily
known, it would enable the importer, with
an approach to accuracy, to ascertain the ac-
iual wants of the market, and 10 regulate
himself accordingly. If, however, he should
fall into error, by importing an excess above
The public wants, he could readily correct
! its evils by availing himself of the benefits
and advantages OF the system thus establish
ed. In the storehonse the goods imported
would await the demands Of the market, and
their issues would be governed by tho fixed
priuciple OF demand and supply. Thus an
approximation would be made to slcadi-
ness and uniformity efprice, which, ifattain-
able, would conduce to the decided adyan-
tage of mercantile and mechanical opera
tons.
The apprehension may be well entertain
ed that without something to ameliorate the
rigor Of cash payments, the entire import
trade may fall into the hands of few veal
| thy capitalists in this country, and in Eu-
rope The small importer, who requires all
the money he can raise for investments abroad
and who can but i'll afford to pay the lowest
duty, would have to subduct in advance a
portion of his funds in order to pay the du-
ties, and would lose interest upon the amount
thus paid for all the time the goods might
remain unsold, which might absorb his prof.
its. The rich capitalist abroad, as well ms
at home, would thus possess, after short
time, an almost exclusive monopoly of the
import trade, and laws designed for the ben
eft of all, would thus operate for the few
a result wholly uncongenial with the spirit of
our institutions, and anti-republican in all
ITS tendencies. The Warehousing System
would enable the importer to watch the mar
ket, and TO select his own time for Offering
his goods for sale. A profitable portion of
the carrying trade in articles entered for the
benefit of drawback, must also be most Sc
riously affected, without the adoption of
some eXpedent TO relieve the cash system.
The Warehousing System would afford that
relief, since the carrier would have safe
recourse to the public storehouses, and
might, without advancing the duty, reship
within some reasonable period to foreign
ports. A further effect of the measure would
be to supercedc the system of drawbacks,
thereby eiIectually protecting the Govern
ment against fraud, as the right of debentIrc
would not attach to goods after their with
drawal from the public stores
In revising the existing tariff of duties,
should you deem it proper to do so at your
present session, | can only repeat the sug-
gestlons aud recommendations, which upon
several occasions, have heretofore felt it TO
be my duty to offer to Congress The great. |
primary and controlling interest ofthe Amer /
Ican People is union--union not only in the
mere forms of Government, forms which
may be broken-but union founded in an
attachment of States and individuals for
each other. This union in sentiment and |
feeling can only be preserved by the adoption
OF that course of policy, which neither Civ
ing exclusive benefits to some, nor imposing |
unnecessary burdens upon others, shall
consult the interests of all by pursuing |
course OF moderation, and thereby seeking
to harmonize public opinion, and causing
the People every where to feel and to know
that the Government is careful of the inter
ests of all alike. Nor is there any subject
IN regard to which moderation, connected
with a wise discrimination, is more necessa-
ry than in the imposition of duties on i'm
ports. Whether reverence be had to reye-
nue., the primary object in the imposition of
taxes, or 10 the incidents which necessarily
How from their imposition, this is entirely
true. EXtravagant duties defeat their end
and object not only by exciting in the public
mind and hostility to the manufacturing in
forests, but by inducing a system of snug
glng on an extensive scale, and the practice
of every manner of fraud upon the revenue,
which the utmost vigilance of Government