The Cecil Whig. [volume] (Elkton, Md.) 1841-current, 1842-03-19

taking the value Of any cen,modiry al.
true value; for, if the price realized abroad
b. sometimes above and sometimes b low
that amount, The exec s. and deficiency
will probably neulrallze each other. This
is the Ialresl mode for another reason: II
in any one wear more foreign goods shall
be purchased thal the exports Of tia year
would pay for, a credit is created abroad
which mus, be extinguiehed by The ex
ports ot some succeeding year
W.. Buchanan here inquired if any
de !ur,ion had been ma 'e by Mr.. Clay
from the tx ,ooglS, 10 pay the interest, sc
on American debt held abroad. Mr.. {.
repliel that the Senator would presently
see l!at he had
lhink the Senate will agree with me,
in assuming that the OK ,ortS Irona more
&C rect n reliable StanDll rd o! cstl naliol
taa; the lportS; however that may he, the
accidental coincidence between the re-
sul;s arrived at in either mode tnrtifi's
and proves the calculation itself to have
been founded in correct principles. Those
results, as shown by the Secretary Of the
vlca ,ury, are now, believe, in the House;
and regret that could not examine
them before rose to address the Senate.
i will now show YOU that the exports
from 1896 to 1871, inclusive. period ot
six wears, amount 10 S62l,0Oll45, helng
all average annual amount Of $780,
6S7 That take as presenting a safe
gro md OF calculations for the future. 10
hi, propose to add fifteen per cent. for
prolils-in which | do but follow Mr..
EWING, the late Secretary, in his report
At the Extra Session. 1t is certainly a
great profit, n include of course all ex-
pense; and charges of every kind and
with this addition, the annual amount will
be SllS,95S, 1S7. say ll9 millions. De
ducIng, for The interest and principal ot
the American debt abroai, ten millions
per annum, il will leave a nett amount o
100 millions. There can be no dispute a.
to the propriely Of such deduction: the
debt exists: 1t must be provided for; and
fear is lhat this amount will prove toe
small to meet it. think that much more
may probably he needed; bat certainly
none can objec, to the reserve Of ten mil.
Lions. We thus get, as saba nett balance
from onr annual exports, including profits
OF 100 millions
OF this amount Of importation how
much is now free from duty2 The free
go "dS, including tea and colf>c, amour
to 30 millions, from which amount de
duct for tea all COTE, ass uming tina
tiiev will be subjected to moderate du'ir,
II millions. leaving the amount OF free
articles at Is millions deduct this from
100 millions. the amount of exports, ant
it will leave a balance of 81 millions
which may be assumed as the amount o.
,dutiabe articles for some years to come.
lIu v, then, out Of these 80 or 81 mil
lions of dlDiable goods are we TO Ia'se ;
revenue Of IS mlIlons2 No man, pre-
sumo will rise here in his place and SAY
that we are to rely either on direct or in
ternal taxes. Who has the temerty t,
4neet the waves Of popular indignation
which will flow round and bury him, Whc
ever he NAV be, that should propose; il
time I'll peace. 10 rise a revenue by dlrcC
taxalion2 Yet this is the only resource
To lly t., save the proceeds of the public
lands. ON which | shall speak presently
and which lean salts lv any man is not t,
be thought of. fou arc, therefore,, t.
d'aw this am ,un, Of 25 millions from tn
81 miIlipus Of dntjabIe articles imported
and, to reach that sum, at what rate PEI
cent. must you gr2
shall here say nothing, or bat wore
two, on the subject Of home valuation
u subject which friend has care o!
(Mr. SlMMnNS,) than whom none is more
con, eient to its full elucidalion H.
thinks. ds | understand, that there can hr
devi Led IA satisfactory system of such val
nation, and heartily wish him success,
IN The attempt. | will on say that, il
nv opinion. il we raise but ten millions
without any reference whatever to pro-
lection, without reference to any thin.
but to NEE honesty, however small the
ain ,ul,t may be, we should ourselves As
scss the value of The goods on which W,
lay the duty, and not leave that value i
be fixed by foreigners, As things no
stand, we law the duty, but foreigners fl.
the value Of The goods. Give me but lh
power ot fixing the value of the gond.,en
Gaze little, il comparison. what may ID
the rate of duty von impose. 1t Is evldcm
that on the nd rai0rcm principle ii is III
foreigner who virtually fixes the actu"
amount of the duty paid. 1t Is III
foreigner who. by fixing that value, vIr