Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1842-04-26

of almost entirely what mig be great md productive
source oil iacome under moderate and udc;ous system
of duties iaid expressly for revenue
Under the influence Of The same policy, there will no
doubt, tc large list of articles entirely exempt from
duties The chairman Of The Committee Finance If
did not mistake hu estimated The amour, of tie free
articles under the tariil to be established, thirty mil
lions Of dollars.
MIR Evans said that is the amount now as the law
stands
Yes, (reped Mr.. c. and is intended to be the amount
after ii modified suit the wishes Of the party It's
no conjecture.
hold the proof 10 my hand-a bill reported TO the
other House by member from Massachusetts MIR Sal
tonsall chairman Of The Committee on Manufactures
and gentleman deep in the confidence Of his party
II proposes free list of at eas, thirty millions; and
system ui duties not much, if any, less odous and op.
pressive than the Tariff of 1898 This long and heavy
list is made up OF articles of description not produced
in the country and which for the most part,
sumed in The manufacturing region, or for which
manufactures are given in exchange abroad. II re-
revenue was the principal object TIE very principle on
which they are TO be excepted would make them the
most legitimate objects of high duties. They are the
very articles that could be taxed highest without dan
ger Of being superseded by home articles of similar
description, and which, for the same reason, would
throw the burden equally on the consumer. Butreve
nue. is not the object and they must be exempted, be
the inequality the effect the revenue and credit OF
the Government what it may. II 10 the probable
Ct free articles be added the amount required
to meet the interest Of the debt abroad-say seven
millions; und if 10 that be added the very great re-
duc,ion which the high duties to be laid on the
protected articles must make in their Importation,
some conception may be formed Of the narrow basis
on which the of the Government must stand, If
the system Of policy of the party should be carried out
in It's spirit us it is intended 10 be. The whole weight
will press on what the advocates choose to call uxnres
such linen, wors'ed stutts, silks spirits, wines;
most of which may come, indirectly into competition
with home made articles, for which they may be sub
stltuled; and all of which, nearly so, got in
chance not for manufactures, but the productions Of
our SOIL and are Therefore, according TO The genius Of
the SYSTEM legitimately objects Of high taxation.
Such gentlemen, must lie the system of mposts II
the influence which has heretofore controlled you should
continue to do So which, fear, hardly admits of doubt
II is precisely the system proposed 10 be established
by the bill Of the other House. 1t may indeed be
modified, 10 catch few Southern votes; but there is
little hazard in saying that il is what is desired, and
will be approached as near may be practicable. IL
is on such tariff that you propose to rely exclusively
for revenue to maintain the public credit and TO sup
port the Government, at rate OF expenditures gracu-
ated by the highest scale and this you expect TO DO IN
the present depressed state OF credit crippled condi.
ton of commerce, and deranged state of the curren-
cy | shall not stop TO discuss the influence WHICH
these and the many other causes that might be emu
meraed must have in diminishing, far below all ofdi-
nary calculation the income from such tariff the i'd
yanced growth Of nu!actures IN most OF the I'M
portant branches the effects high duties on the artl.
ces for which great agricultural staples are for the
most part exchanged and the great extent OF sndg-
Cling which cannot but take place IN the present con-
don of the country; but will venture 10 tell you that
you will be utterly disappointed in your expectation OF
an adequate revenue from such tariff. The income
will fall far short and the credit of the country will
ceive shock from which it will be hard to recover it,
The end will be- the abandonment OF your system, or
resort to internal taxes; when entire change OF our
financial system Will follow.
Thus thinking, cannot vote for this bill. l would
rather meet the difficulties ct once, than TO contribute
by my vote 10 postpone the shock, by sustaining sys
TEN which solemny believe must lead to such dan
eerous consequences would rather let the patient
lake his chance than TO connlennnce what cannot but
regard as the most dangerous quuckcry But We are
not reduced 10 the alternative OF doing nothing or tax
ipp this bill There are other and safe and speedy mea
.ures of relief if you would but agree TO abandon your
system Of policy and adopt them. They are so obvi-
ous that cannot persuade myself that they have been
overlooked and am forced to believe, that they have
not been adopted because policy forbids it, II
Won could be persuaded TO yield that, and substitute
for this bill provision to fund the outstanding Urea
sury notes in per cent Stocks payable IN four i've,
or six years. to surrender the public lands, and pledge
them for the faithful redemption OF that Stock and pass
Joint resolution refusing 10 receive the notes OF banks
that declined TO receive your Treasury notes at par the
market would speedily be freed from that excess winch
the credit of Treasury notes. and The residue
would rise ct once to par with specie. II the banks
Government would he combined to uphold their credit
at par; and if not the fact that they would be exc
siyey received with specie in the public dues, would
give greatly increased demand for them, which would
have the same effect.
That done, follow up with rigid system Of economy
and rerenchment lop off all expenses not necessary
for the defence of the country and tie frugal admins
traton of the Government; put end 10 waste, extra
vagance and fraud and after you have made your ap.
preparations and revised the duties with an eye mainly
,pI oil fGh I'm should
an estimated deficit in the income, before the increased
duties could be made available, it may be met by the
use of your credit directly, or the negotiation oil
small loan, which could then be had on iair terms,
and for u short period 1t is by this SIMPLE process
that you may relieve the Government from lis present
en,ba rras.lnent, restore its credit, and raise what
supplies may lie necessary at home, without going
abroad at present. have, (snid Mr. c. on my part,
nsuperabe objections 10 sending our credit abroad IN
The wcrd at this time. 1t stands low at present. and,
as an American and Republican, am too proud to have
il exposed TO the contumely of the rich and powerful
bankers Of Europe, TO which it must necessarily be ut
such period. would adopt any expedlens, or make
any reasonable sacrifice, TO avoid ouch disgrace Adopt
the measures have suggested, which, instead OF sacri-
fee will afford relief terms more favorable than the
most sungune anticipate obtaining supplies from
abroad aud il will be avoided can imagine but one
object nd that The ofrepeaicd one-your system-
forbds
W
governed by PARTY feelings and views ct such juncure
as conceive this to lie affairs instead of The So
Tenn and earnest desire feel to the credit of the
Govern men restored and the country exricuted from
lis present difficulties, would rejoice to the party
ononsed to me pursuing the they do. feel the
most thorough conviction that under their system, the
credit of the Government, instead Of improving, will
grow worse and worse and will end persisted in, moi
only in the overthrow hut in the dissolution of the par
y and aiixng permanent odium to their measures and
policy, but in The meantime with no small hazard to the
country and lis institutions
The New York Express states, positipeiy "the Judi
ciury Committee in our Assembly reported against .he
uosireness, that they reported in favor of the repeal
a. soon as they had ca copy Of The decision OF the
Supreme Coart of the u. S. before them. This, they
will have in August and they will be bound by Their
Report to repeal Their h act hv f
n Mhin hreihren In Iiruinia