Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1844-12-24

Legislation any more than the Interests of any
other class OF men who contr.butory 10 the
public veal.
Prudence, justice, and duty, require that the
annual charges upon the Treasury, for interest
upon the public debt, be lessened, and finally ex-
linsuished, with all convenient and proper des-
patch, and that the burdens Of taxation be les
sened.
The public debt 10 be provides for, after the
first day OF January, in the year 1S15 will con-
sist OF the debts assumed by the United States,
for the several cities in the Disiridi OF Columbia,
the two loans redeemablc in 1875 and 1863 re-
spec,vcly, and such paris of The :. feasurv Nolcs,
old debt, and Mississippi Stock a.. shall not have
been then presented for payment, 18th the annual
interest 1ccruinS.
The interest upon the Two loans amounts to the
sum OF eight hundred and fifty thousand eight
hundred and forty -four dollars an seventy-scven
cents until the 1t day of July. 1853 and after
thar, 10 the annual sum of $500 633 81. The
sum Of interest, from and after The lstJuly, 1915,
to the Isl July, 1853, on those two loans, will
amount TO the sum OF S6, s06,7ls 10; and on the
residue, redecmabe in 1863, 10 the sum of ST.
Sl3,0l5 02-logether, $Il ,69l ,773 25. The prin-
cipal and interest on the two loans, if not re-
deemed before the times limited, will charge the
Treasury with the SUN cf $40 9G1, s9l A. The
existing rates of duties on imports and tonnage,
with the other sources OF revenue, would, accord
lng TO the best estimates, after keeping down the
interest until Tie Isl July in the year 1859, and
after paying the ordinary annual expenditures
Tor the support OF the Government and after dis
charging the loan of seven millions of dollars,
redecnatlc Isl July, 1853. leave an accumulated
surplus o.; uol less than fifty millions OF dollars
and OF revenue, if continued until the year 1863,
would, after detfayinS the ordinary expenditures
for The support OF the Government, and discharg-
ing The principal and interest upon The deb. then
redeemablc leave an accumulated surplus in the
Treasury OF not less than one hundred ard twelve
millions Of dollars.
The system OF accommodating national treasure
to be boarded and locked up for future wars, or
unknown wants has hecn exploded. Such a sys-
ten was suffered only in times and countries
where The government was considered as a per-
son having IN interest distinct from the welfare
of The people; where men were considered as the
properly OF the government, the yassas OF The few
who ruled But where government is the proper
u Of the people, TO be administered for their vel
fare, the accumulation ofannual sums far beyond
any known wants 10 be boarded for unknown
future contingencies will not lie endured
All taxes whether direct or indirect, subtract so
much from the funds by which the people taxed
supply their wants and their comforts, tend neces-
sary TO lessen their enjoymcnts and means of
improving their condition. The amount Of reve-
nue. required even in time o! peace for the ad-
minis,ration Of justice and police, Tor the support
of the army and the navy, and various Other OBJ
ec,s constituting the civil list and The support Of
the government, is necessarily large. The sum
fa!sed from each individual is so much taken BIZ
government from his earnings. The farmer pays
in taxes part OF The produce of his farm-that
is, lis value in .money-ior his proportion Of con-
nibu,ion TO The public revenue, and has so much
less for other purposes. He is so mnch poorer;
and SO OF all others who arc taxed for the public
revenue.
The money raised By taxes never returns TO
those who pay in he proportions in which they
respectively conribuled hence the interest oil The
tax payers and the interest Of the tax enIoycrs be-
come antagonists The higher Tie rate of taxation
the poorer the tax PAYERS, and the richer those
who receive and enjoy the proceeds for employ
ncut-, services, jobs, and profitable contracts.
The sum annually taken from The people by
taxes for The support Of Government, lessen the
surplus OF each individual above his own wants,
which surplus he would apply in the pursuits OF
his own private Industry. II money then be Ia
ken annually by taxation beyond the known
wants Of The Government, and merely 10 be
boarded for unknown coingencies, the general
increase of wealth b. the Produce OF agriculture,
mechanical labor, and commerce will he proper
tionaby retarded. Such taxation for the purpose
Of boarding is a waste Of capital, a waste OF the
means o! improvement. A Government 50 taxing
The people Tor mere accumulation and boarding
is no wiser, no more benevolent than tue mi
ser. who burying his gold, obsiructs The increase
of his store, and denies 10 his household the com
forts OF lille for fear of future want
Nor should the temptations 10 exttavasarce and
waste in the expenditures Of Government, aris-
ing from exuberance OF revenue and an over
howin5 Treasury, he Overlooked. Expensive
cx,ravagaHt establishments and habits of waste
when once created BIZ Government, are difficult
/, he reformed and retrenched In the conflict
between the interests of taxpayers and tax-enJoy-
ers there are never wanting those who propose
various fanciiil schemes Tor absorbing the rcve-
nue., and preventing the burden OF taxation from
being esscned, whereby their inordinate gains in
dividually would be eSsened. By such, even
national debt would be advocated as a national
blessing; and high rates of duties on imports of
goods and merchandise, be urged as the efficient
means OF lessenng prices TO The consumers.
national debt, by lis iniercs; annually &C
crung increases Inc burden or taxation, and NAV
lie lkened 10 an ealing moth which is feeding
upon ard dcspoiling the substance.
To Government; which stands in need of ar
tificial aids 10 bind men 10 lis support, and force
others 10 submit 10 injustice, inequality and OPP
preston, a national debt may he appealed 10 as
AN auxiliary in tanning the spirit OF resistance
and revolution Blu, in a Government based up
on equality of rights, with re exclusive privi-
lcges, there is no need OF national debt; il is
no more OF national blessing, than a private
debt, eating into annual income, is private bless
ing.
Duties on imports tend to circumscribe the
quantity OF goods imported because Of The capital
required 10 pay the duties. By diminishing the
quantity of imported merchandise, the COMPETE
ton between imported articles and like articles
manufactured in the uni!ed STATES is lessened:
and such lesscning oil The supply ana competition
has direct tendency to raise The prices 10 con-
eumers
The amount Of duty paid upon the article is
incorporated with The natural price OF the commo-
dity, and is paid along with il By the consumer,
II is nearly the same in effect il the consumer
should ray the natural price of the article TO the
manufacturer or importer, and should a! the same
time ray tax TO the Government equal 10 the
duty laid upon The article.
The merchant or importer pays no part OF the
duties on imports, except in SO far as he is con-
snmer; he does but advance the duty 10 The Go
vernment al the custom house; he is afterwards
reimbursed, with his profit as well upon the ori-
gnal cost Of the article as upon the duty he has
advanced by raising the price Of The article, and
thereby dcvolving the original cost, The tax paid
10 the Governments, and his profit on III, consumer.
Every intermediate sale and profit between he
importer and the retailer, down TO the consumer,
enhances The price of the commodity to the con-
sumner, who must ultimately pay the original cost
OF the article, the duty, and all the intermedi-
ate profits and expenses, being component parts
of the price al which the commodity is offered
for sac,
The duty paid upon an imported article goes
into The public treasury; the enhanced prices up
on articles of like kind manufactured in the r.
States, caused by 1.-The duties on like articles i'm
ported, and paid By the consumer. Of such unim-
ported articles so inc the private purses Of the
manufacturers
Another cause Of increase OF prices Of COM
modites is 10 be found in The relative increase Of
circulating medium, compared with the mass Of
merchandise offered Tor sale. The increase OF
circulating Medium arises from Two causes: the
one is Inc increase CT the quantity of gold and sill
YER the oher is by The artificial means Of paper
circulation.
Theincrease Of gold and silver first takes place
IN tho notinnc thof nc tba ;rae nj