The North-Carolina standard., 1842-10-05
RALEIGH N. C. WEDNESDAY, OCTOBER 5, ls42

it in bill purporting to be designed for raising
revenue, when the protection has so deranged the
duties imposed, by forcing them into gross and
high inequalities as, in many cases, to lessen the
revenue, and defeat that great and with us para
mount object of the whole bill Are we, then,
compelled, by any principle of comfy, or patriot
ism, or liberal concession, when seeking to raise
revenue alone-which is so much needed for
meeting current engagements and redeeming the
PROSTATE credit of the Government we to be
required to vote for a bill which sacrifices that
very object, and sacrifices it also to aid another,
and an illegitimate one-of high protection to
manufactures
Let it not be repeated as an apology, that the
bill at least cures the doubt in future about the
right to collect some of present duties under
the existing laws. For if this bill fails, all who
entertain that doubt must unite at to pass an
other bill to cure or remove it before we adjourn;
otherwise they violate their public duty, and are
perfidous to their representative trust That doubt
can and will thus be obviated, and should have
been long ago. by passing one ofthe numerous
bills which have been proposed in both Houses
by gentlemen on this side of the question.
| Stripped of that excuse, the bill as revenue
measure is much worse thon the present laws
I would be without it. Itincludes scarcely any new
article; and in many old ones it is so high as to
lessen their use, and thus cut off most of the IN
come from them 1t is thus measure to dinin-
ish rather than increase revenue--one to lower,
not raise means to carry on the Government
Some have calculated that not over twelve or thlr
teen millions of dollars net in the aggregate,
| likely to be collected under it feel confident
that the nett aggregate, for time, will not ex-
coed fifteen or sixteen millions; while under the
present laws and low dutes the imports are likely
to be so much larger, and especially of those ar
tcles which are highly taxed by this bill, that the
revenue would probably reach eighteen millions
yearly You will then, in all human probabili-
Iy lose in point of revenue, by this bill, from two
to three millions. Do not let it be said that this
is improbable, because the duties in the present
bill are not so prohibitory we imagine2 If
not so, why did you refuse to adopt the amend
ment which I offered yesterday, to reduce all a
bove fifty per cent next year to that standard? If
many are not above fifty per cent you would
have accepted that proposal, even if you had not
gone farther and accepted the next one to reduce
them in two years after to twenty-five per cent,
Let none impute to US, also, an unwillingness
to vote supplies or pass any suitable laws to car
ry on the fiscal operations of the treasury. We
have again and again offered to vote for laws to
remove all doubts about the right to collect
nue. now; we have offered bills for that purpose;
and it is you and you alone, who have obstinate
ly refused to pass them IN season, and thus remove
those doubts We have been willing to amend
this bi so as to collect more revenue than 1t now
will, by taxing most imports at revenue stand
ard of 25 per cent; and it is you, and you alone,
who have refused that large supply, and that aid,
more ample than this to restore public credit 1t
is you, and you alone, who have neglected, till SO
late, imperative duties, devolved you peculiar
", as holding triumphant majorities in both
Houses, and hence bound to present and pass sea-
sonably, all necessary supplies.
Mr. Wright further explained the condition of
his State, which had induced him to consider it
deeply connected with the credit Of the General
Government.
MIR. Woodbury. said that he rose again, not to
comment on anything which had just fallen from
the Senator from New York, but to add few
words concerning the future which he intended to
have submitted before.
Let me warn gentlemen that, if they pass this
bill the fiscal condition of the country will still con-
tinue without adequate relief Not claiming any
spirit of prophecy, he still forced from bitter
experience to believe that the seeds OF disease still
remained in your extravagan scale OF expenses
Taking back the lands, if they were properly adj
vertised, would help some to meet the emergency
but many of the duties in this bill are so prohlbl-
tory and the free list is so large IN amount that
it was idle to expect revenue from both, sutf
cient to defray twenty millions of ordinary
expenditure even twenty-five, twenty-three, or
twenty-two-an the interest on the public debt
IF YOU retrace your steps from the exploded sys-
tenn OF permanent JOduS III pGdIc, Cud ACSu'IiC &
temporary issue of mere treasury notes.-the only
resort now left till another year it may be prac-
ticable to supply the deficit till we meethere gain
some three months hence. But then a new line
of poIicy-a new task-must be commenced; or
your inevitable lot must be continuance of bank
ruptcy and financial disgrace. The great root Of
the evil has been the vast appropriations voted
since the extra session began and the subordinate
errors were, not advertising the lands fully, as
we'll as giving away their proceeds the present
year, and in not early and efficiently making
tariff for revenue, AMI revenue alone Such
one would, with the lands, have furnished all that
ought to be expended and, at the same time would
yield ample incidental steady, and uniform pro-
lection to every great branch of industry at home,
endangered by foreign competition.
The first act must be to lessen the expense to
eighteen or nineteen millions, for ordinary pur-
poses The next, to reduce some duties-now so
high as to yield little revenue: and raise others
now too low to yield the revenue they nights
we'll as impose moderate duties, if more revenue
is needed, on some ofthe articles now free. Then,
and then only, can the ends of the year meet with
out ruinous loans in peace, or a miserable resort
to direct taxes, exercise stamp acts, and all their
odiolls train of burdens.
/ Mr. Crittenden would not have risen to say one