Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1842-03-22

RICHMOND, VIRGINIA. TUESDAY, MARCH %, 1912.

ESDAY, MARCH %, 1912.
upon the business of this year Yet his impression was
that alter this year, AZ the fathes revival of business
would be experienced, if not in furtheance Of sound e
gIsa've policy, against nnsound policy and measures
OF legisation State or National
1t was impossible for him TO say that duty of 90
per cent upon imporations added 10 the land
venue, would be sufficient tn meet the wants Of the
public Treasury, but he could say that, in his estna
ton, that revenue should be brought back and applied
10 the expenses of the Government before further loans
were made, or further taxes imposed. Apply the
venues we have at our command to fill cur empty
Treasury and then he would cheeriully unite with the
gentlemen upon the other side to vote such taxes
should be necessary 10 meet the expenses of eco
nomca administration; but while the majority were
disposed to give away the revenue have, they were
offering poor encouragement TO the minority To vote
either loans or taxes Entertaining such impressions, he
had proposed 10 amend this resolution so that it should
read Is follows:
s,oss : -. That SO much of The act entitled An aci
pre- en"n rights, approved the fourth day Of seicm
eslee hundred AMI appopriate those proceeds
To the States aud Territories and to The District Of Columbia
ought h. ncalcd apparent that this portion
OF r publ rann" h- taken from tile national Treasury
without creating instant necessity Tor loans I'D
dit""ai t>2o az , amount sufficient 10 supply tie de-
Geency thus produced"
In his opening remarks addressed to the SENATE yes
terday, the honorable Senator from Kentucky MIR.
Clay said prudent and careful farmer always saked
out his land before he sent his teams on 10 commence
with the plough and that these resolutions 10 be
his stakes The fourth resolution of the series read
follows:
81 Resorl THAI in the adjustment Of the tariff raise
Of millions OF the principles of the
ciay MAXIMUM rate of nd valorem duties should he esia
b>ed from winch there Ought to be little departure as posi-
bic
Now the honorable gentleman must pardon him
for The remark, that it would he very difficult 10 plough
b. the STAKES set by this resolution In the first place.
the principles of the Compromise act were 10 be adhered
TO nsneraHR This very well of itself, but then
the condition annexed that iweniysx millions OF
revenue must be raised from mpost alone to do which
might oyertnrn The principles of the Compromise act
generally In the second place ''ma1tmam rate OF ad
va!orcm dues to be established but no rate was
proposed stake stuck. And IN the third place.
when this marinuna should be established, there 10
be sas iie departure fran ii as possibe What could
be particularly general than this resolution: What
entirely vague: And how was it possible for the
honorable To suppose that the passage OF by
the Senate could aid in eCisatng upon this import
subject, when the House Of Representatives should
please send the necessary bills. If amended
he had proposed, the resolution would read as fol-
lows:
Ecoro That in the adjustment Of tariff 10 raise an amount
of such be- required, over aud above the means
lie derived from The sales Of the public anis-whic amount
SHOULD always equal the expenditures Of the Co
vernmenr economically aud properly administered, and 10 the
principle, the al March, 1889 entitled "An hcI I"
modify The act Of the fourteenth Of July tosand eight hun
d thirty and all other acts Imposing duties on Imports
commonly called the Compromise ac' Ought To be adhered TO- as
the general basis Of such adjustment
The passage OF the resolution IN TINS form viii SET I'M
portant stakes 1t will determine that the land revenue
is to be brought back for The of the national lrea'
sury and that whatever revenue shall be required be
yond that for the current expenses OF the Government
economically and properly administered, and Tor the
gradual but certain extngushment OF the present pub
VI thn .YgI
basis Of the Compromise act That basis is, among
other things cash duties home Valuations rates OF duty
as nearly uniform reasonably be imposed an OK.
empon from duty of certain enumerated articles used
in manufactures, and above ALL 'an economical adnI
nisraon of the Government The rates of duty would
he controlled generally by the amount of revenue re-
CURED and in particular cases by the nature and cha
racter of the article 10 be taxed.
The honorable Senator had gone into labored argn-
men 70 show the general rate Of duty must be 30
per cent but his conclusion rested upon the hypothe'
sis that twentysix millions per annum must be raised
from mposls Mr.. w. proposed to bring back the land
revenue and thus diminish this amount by three mil
lions Of dollars He trusted he had succeeded in show
nr before that two millions more OF the amount, rs
mere Treasury balance unnecessary, and must
have been included under misrepresentation, nasinuch
as the whole argument of the honorable Senator
based upon the assumption of twenty-five millions as
the standard for ordinary expenditure. These deduc
tcns would bring down his necessity for lmpos 10 TWEEN
yonc millions per annum, and nasmuch as the actual
ordinary expenditures OF the year 1910 were brought
down Ia about twcntytwn and one third millions, and
i, was admitted on all hands that the work Of rerench
mcn from the extravagancies of the period Ola surplus
revenue had been scarcely more than commenced, he
must think the standard OF the honorable Senator OF
twenty-five millions for the ordinary expenses OF an
economical Administration much too high. lie did
no, know that these considerations ought 10 induce the
belief that of duty 30 per cent, would produce
,rbic added q Ne would
fcent TO meet the expenditures of economical Ad
but he was compelled to say that the no.
norabe Senator had failed 10 prove to the satisfaction
of his mind that that rate would not be sufficient, aided
by the proceeds Of the lands.
Il was unsafe, too, in his Judgment TO I'D ust tariff
intended to be permanent upon calculations TO the
of ISL and Si2 Alone the two years, IN
nil human probability, of the greatest depression IN
ne Rod of dcprcss hitherto unexampled IN time oil
ueace. The result Of ad jus,ment upon such ha-
sis would be almost certain 10 be an early excess ot
venue again. and consequent extravaganza OF expend-
turo accumulation of surpuses arrangement OF bust
nes. distributions and another depression. And, next
70 homeless debt a repetition OF these events, now
so fresh in The memory OF all, was to be studlousy
avoided =,
bonorable Senator and he considered that the key TO
unlock al! that preceded it, The hinge upon which The
whole action upon the first live resolutions must and
would turn 1t was in the following language:
That the III the act oi the fia cssoH
far The distribution proceeds OF the public lands, egh.
Inc ooeaon he suspended IN The contingency I"
lr her rate duty than 20 cent, ought To he repealed.
This resolution opens the policy winch II seems 10 he
the object Of the whole series TO call upon the senate
to sanction, viz the policy and expedency of pisrRI-
urrios regardless of the state Of the Treasury, the
means of the Treasury, the power to raise revenue, o.
The condii.n of public credit No proposition oil
could well be S5S aSsD and Ic
rm consideration before it is decided Of vital IN
ere4t 10 the people, to the Government aud to tue
Existence of our institutions. Among them are the
following
/. The consutionaty of exercising the taxing
mower of this Government TO raise money Tor State
expenditure.
) The necessary influences upon both the State and
he National Government of the establishment nf the
,ocv of distribution and the consequent exercise OF
he Federal taxing power to raise money for the States
3. The influence of this policy especially upon the
,rpendurcs of this Government for objects purely ma
onnl such as the army the navy, public deiences, the
administration Of justice, and the like.
4 The necessary influence of the policy upon lhe
public credit of the U. States.
These points Mr.. W. would consider in their order