Staunton spectator, and general advertiser. [volume] (Staunton, Va.) 183?-1849, 1842-07-14

No. III.
u also Injured to the bcnef. of the North. ms
g Tended to discourage the system of imnor,
ions on foreign account, which were ofte
made, the importer giving bonds for the dutie
ana men selling the goods at auction, and pa,
ing the duties out OF The proceeds. The etre,
Oh this practice was to break down the reo,,l;
manufacturers and dealers. and place them
The power of foreigners. This provision WA
estimated, have understood, to be eo,ivoIe,
TO an additional duty of three or four Der cen
Inc third stipulation was The large list of fire
articles. This also operated adyantoceonsl
10 the North, as will proceed in few word
10 show. IL is obvious that if it were neces
sary to raise twenty millions by uniform DIN
on one hundred millions of imports, dut,
o' ~ per cent. would accomplish it. Ifhow
ever, you render one-half of your articles free
IL Is equally obvious that TO raise the same n
mount OF money on the residue, YOU mus
double the rate of the duty. 1t resolves il.
sell INTO problem to be solved by the inverse
rule oil three. Thus, ifa duty of 20 per cent
on one hundred millions of dollars will give
twenty millions, 1t will require duty of 40
per cent on fifty millions to give the same A.
mount. I'D other words, as you decrease the
amount OF dutIable articles you must increase
.ne rate OF duty 10 produce given sum. The
worm were, therefore, interested in expanding
inc ilst oil Tree articles as much as possible. as
.hat expansion produceda corresponding con-
traction OF tile list of dutiable articles which
came in competition with their own monurac-
lures, and rendered higher rate of Jutv on
them necessary
The fourth and last stipulation in favor NJ
the .NorM was theprovision that the neccssa-
ry revenue of the Government should be rails
cd by duties in con,radistinction to eyc;sos
airect lakes, or the land fund. This tonic i
nave already discussed, and will now dismiss
IL win one single additional view It's this
VIII any gentleman rise in his place here and
say /, would not be breach Of the comnro-
mise TO raise the revenues of the Governme nj
oy aTcct taxation or by erciseS instead of bv
"MteSF Would 1t not be directly in the teeth
oi tie provisions OF thatact to do so3 If lam
answered IN the affirmative, as | must be. ask
again where is the distinction between raisng
lhe necessary revenue by excuses or direct
taxes and by the sales.of the public domain
II you derive your revenue from that source
40 you not lniilct the same injury on the man
uiacturer as you raised it by one of the 9TH
er enumerated modes of taxation Do Won
not just as efiectually cheat hin, out of The
Protecuon which you professed and promised
to extend TO him? Sir, appeal to the ycncr-
able gentleman from Massachusetts onnos;,e
TO me, (Mr. ADAMs,) to the DISTINGUISHED
member from Vermont near him, (NIr. EVER
ETT,) and TO every member on this floor who
was present when the compromise was passed.
10 say whether have not given its history
'ruiy' And does any man believe for q mo-
ment mat the Northern men-keen, shrewd.
and sagacious as we know them 10 be-clear-
headed and vlglant in regard TO all that con-
such bargain as The President understiinus
and represents this compromise TO be? Look
at the practical operation of it and Judge for
yourselves. The President understands the
clause providing that ''such duties shall be
laid for the purpose of revenue as may be ne
cessary," as meaning not what the words i'm
port, but "such duties in aid of the land fund
Tor revenue as may be necessary" and, by a
strange system OF strict construction, interpo-
lates new member of the sentence, so as 70
limit It's Specification and make it conform to
his views. Let us assume this, for the sake oil
argument, to be the true construction; let us
then assume that for the next period of eight
! years the land fund will yield as much as ii
did during the last eight years. This, pre-
| sumo, will not be regarded as an extravagant
estimate, considering the increase of our wealth
and population. The. proceeds of the LAND
lund Tor the last eight years are as follows:
1898, sl,97a,ooo 1887, $1,000, 1000
1884, 6,oo9 900 1898, 1905, 900
| 1885, l5,999,O00 1889, 6,46l, 900
1886, 25,l67,ooo 1910, 2,252,OOO
! Let us assume, further, that we are now a
bout to lay our duties in compliance with tn
terms of the compromise. We will suppos
that, by Judicions economy, we have REDUCED
our estimates ofthe expenditures to $4,000
900. How are we to proceed? Instead O
laying duties to produce $25 100000, we arc
according to the Presidents view, to lay ther
so as to produce sum which, when added t.
the land fund Of the present year, will max
S25,OO0,OO0. In other words, continuing III
; parallel between the past eight years and III
next eight we must raise by imposs s l9,02S
600, that sum being sufficient, when added I
I the p4,972,OOO the estimate of the land fun
for the current year, to make the Sp25.00000
We accordingly pass a tariff of duties TO tn
extent What is the result the next year
e The duties being the same, and the land fur
: having increased to G,6,09o,0G0, there will
o an excess in 1914 of million. In 1915, Il
: land fund rising TO fifteen millions, there won
1t be an excess Of more than ten millions, al
IS IN 1916, the land fund having mounted up
Re S25, 100000, there would be an excess
e more than twenty millions of dollars b
d this is 4 violation of the compromise, accor
y ing to the Presidents construction, becau
&c you arc inhibited by lis terms. from rasi,
% more than a sum sufficient in aid of The lai
Is find, to meet the expenses of the Governme