Boon's Lick times. [volume] (Fayette, Mo.) 1840-1848, 1844-01-13
ANNUAL TREASURY REPORT.
TREASURY DEPARTMENT, Dec. 6, ls43.
Concluded

Concluded
Secondly. Ii becomes the duty of the
undersigned TO examine the remaining
question presented, whether any and what
provisions can be made TO meet the contem-
plated deficiencies, or such portion of them
as may exist after the reductions which
Congress may direct. The alternatives
which suggest themselves are, direct taxa
lion, an augmentation of the proceeds of
the sales of public lands the increase of ex.
isting duties on imports, and the imposition
of duties upon articles now free.
1t is presumed that direct taxation of
real or personal property would not be at
tempted until all other resources have fail.
ed. The undersigned has therefore moth
ing to suggest on this subject.
1t is not TO be believed that any modi6ca.
ton of the land law can be made by which
any permanent increase Of revenue from
the public domain can be secured. Some
temporary accession might be obtained by
reducing the price of land offered for sale,
but il would be with the hazard, if not GER
tainty, Of destroying rich fountain, whose
regular and steady stream is kept up by
maintaining moderate price adapted to
and yet not inviting speculative invest
ments. Our ultimate resource, then, must
be the duties OF imports. And when it is
considered how large portion of the ex-
penditures of the Government is caused by
our lighthouses, by our foreign intercourse,
| by our navy and other means TO protect
and extend our commerce with foreign ma
tons; and with how much more equality
and equity tax upon importation of for
eign merchandise operates upon all classes
than any other mode of raising revenue;
with how much more ease it is collected,
and how it entirely avoids all collision with
the State sovereignties respecting the SUBJ
ject of taxation, this mode of supplying
the wants of the Government will CON-
mend itself to favorable consideration.
Sufficient information has not yet been
obtained respecting the practical operation
of the act of 25th August, ls42 establish.
ing the existing rates of duties on foreign
opinion of the probable results of its diff
ferent provisions. The commercial stats.
teal statement required BY law. embracing
the returns from the 3Oth September, 1912
TO the 3Oth June, lS43, is in course Of prep.
aration by all the force that can be applied
to it, and il is hoped will be laid before the
two Houses of Congress in the course OF
the ensuing month. As it will embrace the
first nine months during which the present
tariff has been in operation, it will proba-
bly, contain the desired information. But
the undersigned feels bound to say, that
from the examination of reports he has
caused to be made from the principal ports,
and from general view of our commerce
after the best consideration which he could
give to the ubject. he has not been able TO
discover any of the existing duties which
can be increased with any reasonable pros.
pect of augmenting the revenue. The dan
ger from this source is, that articles upon
which high duties are levied will either be
cIandestinely introduced or not imported
at all. 1t is believed that to the great vigi-
lance which has prevailed during the past
season along the coast and on our extended
inland frontier, it is mainly owing that the
fraudulent importations which had been an
ticipa,ed by some law have been prevent.
ed. The temptation, however, should no,
be carried so far that success in one enter
prise will remunerate for the loss in several
failures.
On the other hand, looking at the sub
ject exclusively in its bearings upon the ev-
enue, the undersigned is not prepared to
specify any very important rates of duty
that will bear reduction unless the dehcien-
cy be supplied by duties upon other articles.
Those levied on glass, particular kinds OF
iron. coal and sugar are considered by ma
ny too high for revenue purposes. Should
| 4 ha of inf haf
to, exhibit such result in respect to these
or any other articles, they would doubtless
arrest the attention Of Congress.
Assuming, what will probably be found
to be the case, that no essential improve.
ment of the revenue is likely to be effected
at least for the present, by an increase of
the duties already existing or by a rduc.
ton Of them, il becomes necessary to in
quire whether any articles now free of du-
ty can with propriety be sub ected to a
moderate impost, and whether there are
any other means of providing for the anti.
cipated deficiency.
The articles now free of duty, which
present themselves most prominently as
subjects of impost, are teas and coffee. In
the last annual report from this Department
this source of revenue was indicated. The
necessity of resorting to it is as apparent and
more urgent now than it was then. The
opinions of importers of these articles, Of
merchants and officers of the customs in
various parts of the United States, as com
muuicaled to this Department in pursuance
of its request, are unanimously and deci
dedly in favor of such duties as "more
equal and less burdensome than any Other
mode by which the same amount could be