Burlington free press. [volume] (Burlington, Vt.) 1827-1865, 1844-07-12

law, the great object of which was BY a systeu
OF gradua diIninuton, to reduce the duties a.
they stood under the act of 1892, to an unver
sal ieV'e OF ~ per cent, at the expiration of nine
years and four months In other words, the,
regard the Compromise Act as fixing one rate
'or an dutlable articles from and after the 30ti
OF June, 1872 that rate being 90 per cent. &C
'aIorem and as containing certain binding
supuIations or pledges on the part of The author,
of that law, that no higher rates of duty shout,
ever after that day, be collected by the genera
government. This supposition. preposterous as
II lS' you have doubtless observed, is an opinion
quite commonly expressed, and that too, not un.
frequently by grave Legislators OH the floors o
congress. That the enemies Of Mr.. Clay should
nave SO expressed themselves is a matter 10 he
regretted but when the friends Of the Tariff
anc The very men who profess the utmost con-
hdence IN the recttude and consistency of that
great salesman, fall into the same error, il is
nigh time their mistake should be corrected
II is perfectly true, that the first section oil
the act fixes ~ per centum advalorem as the
| lowest rate at which dutable articles should be
admitted, after the ooh June, 1912; but the
tnlrd section OF the act provides, that, from and
amer That day, "duties upon imports shall be
ia'd Tor the purpose of raising such revenue as
may be necessary to an economical admnstra-
S"'~'h'hC''ts di'u disD tIldl SUCH uI-
ties shall be assessed on the home ralttation and
payable IN cash. The leading principles estab.
lIshed by the act were. first, that after the 30 h
OF June, 1912, a sufficient revenue should be
raised IRON import duties alone TO defray the ex.
penses OF the Government ;-secondlv, that no
more revenue should be so collected than should
be demanded by an economical administration
iof the government thirdly, that the best pos.
slDle guards against frauds on the tariff should
be established by the adoption of the new sys
TEN OF assessing the duties on The home. instead
OF the foreign value, and making those duties
payable in CASH Whether these duties, from
which all the revenue for the SUPPORT Of govern.
ment vas to be derived. should be fixed at 90
per cent. or at 80 per cent. or any other rate,
was, ot course, subject left for the future con.
slderafon and action Of Congress, whenever it
should be discovered that the minimum rate of
~ per cent, adopted by the first section of that
bill, was insufficient for the support of govern.
ment. Nothing was further from the intention
OF those who passed this law than TO attempt to
prevent further legislation, discriminating with
view to protect Hume Labor in the contingen.
cy OF defect OF revenue from duties Of 20 per
cent. have ever regarded the tariff passed by
the congress OF 1872 as substantial compli-
ance' IN most respects with this pledge in the
COMPROMISE Act with this exception only -
that law, while it leves duties on imports to sup.
port the government looks to the proceeds Of
the sales of the public lands as an auxiliary for
that purpose while the Compromise Act gave,
to me, as thought when voted for it, and to
every other friend nf the protective system. At
the same time, solemn assurance, that, after
the 3Oih OF June, 1912, the Land Fund should
cease 10 be regarded as source of revenue,
and that all the real wants of the government
should bp suDnnI aycluei,a',,
imports. assessed so as to prevent frauds, and
payable in cash
10 understand this subject, as it really was
understood by those friends with whom acted
IN the passage ut the Compromise Act, It is ne
cessary to recnr to some other proceedings con.
temporaneous with it. Mr.. Claws B II 10 dis
tribute the proceeds ot the sales of the Public
Lands among the States, which passed both
Houses OF congress about the same time with
The Compromise itself, was by US regarded as
part and parcel Of one great rerenue and finn.
c'd system, which we desired to establish for
The benefit OF the whole country. While fem.
porarly surrendering the Land Fund to the
States, to which It rghtluly belonged in the
Judgment ofthe Congress of 1898, we provided.
N the Compromise Act, that there should be
lay liked at which, in accordance with a sur.
Ieslon prevlousl y made by General Jackson
himself, the Land Fund should for ever cease to
De regarded as source of revenue by the Gen.
eral Government. 1t is true, that we should
nave acted more wisely, as the event proved, by
Incorporating the provisions of Distribution B
IN the Compromise itself Bat who could have
supposed at that day, that President jackson
would have vetoed bill which carried out his
own suggestion. Nevertheless, he defeated that
great and salutary measure OF ID distribution, by
means which no end can ever Justify. He re.
used to return the bill with his objections, to
me House IN which It riginated-unques,i on.
ABLY because he had reason 10 believe, that, had
ne complied with this, his constitutional duty,
each branch of Congress stood ready, by vote
of two.thirds, to make the bill law, in spite of
his veto.
have said, that the tariff of 1912, is in nv
view, substantial compliance in most respects.
with the principles of the COMPROMISE Act, and
the pledges given in that act on the subject of
the regulation OF duties from and after the Both
of June, 1912. But it was not a compliance IN
all respects. In my humble Judgment had the
tariff OF 1912 been passed strictly in the suir,
OF the Compromise itself, it would have been n
better tariff Tor protection than the law now in
lorce. IL would have better guarded the reve
nue. against frauds IN the foreign valuation; and
would more eileclually have checked eyces
wv '"v'''"''Oht "HlNh is one OF Inc great chr
ses OF our country The Distribution of the Land
Fund among the States, contemplated by the
Comprons''. and temporarily provided for BY the
Land Bill, would have put an end to the apj,a
ton OF the question of protection forever: and
the principle avnwed and sustained by Mr.. Cav
that IN laying duties for revenue, Discrimination
should always be made in favor of protection. as
an incident 10 revenue, would have been the sci.
lied doctrine Of the country
To show that this opinion is well founded
let US suppose that Congress, on the 3Oh of
June, 1872, had resolved to make a tariff Strict
~ IN pursuance OF the compromise. The latter
directed, that, after that day, and not until after
that day, duties should descend by rand re
iuction. not of 10 per ce IT., but OF The last had
oi the tohote ercess above 20 per cent, left after
the 81 st OF Dec. 1899, and that reduction he nl
per cent. on the hore value of the irnnor,s. an
less at that tme, The revenue from thisra,e duv
should be inadequate 10 support the administrs.
ton oi The Government. Now how stood The
aels on at that day We had actually incurred
A national debt OF more than $4,000 OOO a,
that very time, under the operations of hiTher
larlh than ~ per cent, and that. too, with The
aid OF all the land fund. aud bank stocks and
bank dividends besides. Our revenue had sunk