Green-Mountain freeman. [volume] (Montpelier, Vt.) 1844-1884, 1845-12-11

d. nestle consumption. was nnety-nlne millions TWO
hundred and ninety nine thousand seven hundred
and seventy six dolllrs. The receipts into the treasu-
~ during the same year were twenty nine millions
seven hundred ana sixty nine thousand one hundred
and thirty three dollars and fifty six cents; OF which,
there were derived from customs, twenty seven millions
live hundred and twenty eight thousand one hundred
and twelve dollars and seventy cents; from slleS OF
public lands, two Millions seventy seven thousand ana
twenty two dollars and thirty cents; and from lnclden-
til AMI miscellaneous sources one hundred ana SIXTY
three thousand nine hundred and ninety eight dollars
and fifty six cents. The expenditures for the same
period were, twenty nine millions nine hundred and
sixty eight thousand two hundred and six dollars and
ninety eight cents; Of which, eight millions tive hun
bred and eighty eight thousand one hundred and nifty
seven dollars 'and sixty two cents were applied to
the payment Of the public debt. The balance in the
treasury on the LIST of July last was, seven millions SIX
hundred and fifty eight thousand three hundred and SIX
collars and twenty two cents.
The amount of the public debt remaining unpaid on
the list of October last, was seventeen millions seventy
five thousand four hundred and forty five dollars and
fifty two cents. Further payments Of the public debt
would have been nude, in anticipation Of the period OF
its reimbursement under the authority conferred upon
the secretary Of the treasury by the acts of July 2lst,
1911, and o. April Is, 1912, and March 3D., l843, had
not the unsettled state of our relations with Mexico
menaced hostile collision with that power. In view of
such 4 contingency, it was deemed prudent to retain
in the treasury an amount unusually large for ordinary
purposes.
A few years ago, cur whole national debt growing
out of the revolution and the war of 1912 with Great
Britain, was extinguished, and we presented to the
world the rare and noble spectacle ola great and grow
ing people who had fully discharged every obligation
Since that time, the existing debt has been contracted:
and, small as it IS, in comparison with similar burdens
ofmost other nations, it should be eXtinguished at the
earliest practicable period. Should the state OF the
country permit, and especially, if our foreign relations
~interpose no obstacle, it is in contemplation to apply
all the moneys in the treasury as they accrue beyond
what is required for the appropriations by congress, to
its liquidation. | cherish the hope of soon being able
to congratulate the country on its recovering once
more the lofty position which it so recently occupied.
Our country, which exhibits to the world the benefits
of self government, in developing all the sources OF
national prosperity, owes to mankind the permanent
example of nation free from the ~bligEting influence
of public debt.
The attention of congress is invited to the impor-
lance of mixing sIitlble mo life atoms and reductions
of the rltaS Of duty imposed by our present tariff laws.
The object of imposing duties on imports should be to
raise revenue to pay the necessary expenses of govern
ment. Congress my, undoubtedly, in the exercise of
a sound discretion, discriminate in arranging the rate
of duty on different articles: but the determinations
should be within the revenue stlnIlrd, and be made
with the view to raise money torthe support OF govern
ment,
1t becomes important 10 understand distinctly whit
is meant by a revenue standard, the maximum Of which
should not be exceeded in the rates Of duty imposed.
1t is conceded, and experience proves, that duties may
he no lid 81 hllgh qS to diminish, or prohibit altogether,
or destroy the revenue which, 1t lower rates, would be
derived from its importation. Such duties exceed the
revenue rates, and are not imposed to raise money for
the support Of government. If congress levy a duty,
for revenue, Of one per cent. on a given article, it will
= A.1. -.-. A. L III
will, incidentally aud necessarily, afford protection, or
advantage to the amount Of one per cent. to the home
manufacturer of Il similar or like article over the i'm
porter, If the duty be raised to ten per cent, it will
producoa graltcf amount of money, and afford greater
protection. iii is raised, the revenue derived from it
is found to be increased, the protection or advantage
will also be increased; but if it be raised to ~thirty-one
per cent. and it is found that the revenue produced at
that rate is less thln ut 30 per cent, it ceases to be a
revenue duty. The precise point, in the ascending
scale Of duties at which it is asccrt1ined from expert
ence that the revenue is greatest, is the maximum rate
of duty which can be laid for the bona fe purpose of
collecting money for the support of government, To
raise the duties higher than that point, and thereby d.
minish the amount collected, is to levy them for protec-
ton merely, and not for revenue. AS long, then, as
congress may gradually increase the rate Of duty on a
given article, and the revenue is increased by such in
crease of duty, they are within the revenue Standard
When they 90 beyond TINT point, and, as they increase
the duties, the revenue is increased or DESTROYED, the
act ceases to have for its object the raising of money
to support government, but is for protection merely.
1t does not follow that Congress should lew the
highest. duty on all articles of import which they will
bear within the revenue standAtd; for such rates will
probably produce a much larger amount than the eco
nomlcai administration of the government would re-
quire. Nor does it follow that the duties on all arti-
Giles should be at the same, or horizontal rate. Some
articles will bear a much higher revenue duty than
others. Below the maximum of the revenue standard
Congress may and ought to discriminate in the rates
imposed, taking care so to adjust them on different ar
tcie3 as to produce in the aggregate the amount which,
when added to the proceeds of sales of public lands.
mly be needed to pay the economical expenses of the
government.
In levying a tariff of duties, Congress exercise the
taxing power, and for purposes of revenue may select
the objects of taxation. They may exempt certain ar
ticles altogether, and permit their importation free Of
duty. On others they may impose low duties. II
these classes should be embraced such articles of ne
cessity as are in general use, and especislly such as
are consumed by the laborer and the poor, as well as
by the wealthy citizen. Care should be taken that al
the great interests of the country, including manufac,
lures, agriculture, commerce, navigation, and the me.
chanic arts should, as far as may be practicable, derive
equal advantages from the incidental protection which
a just system Of revenue duties may afford. Taxation
direct or indirect, is a burden. and should be so in-
PO'Nu "o ~ NPSiutC "0'Hutly 10 uhy w, Lld5StS
in proportion to their ability to bear. To make the
taxing power an actual benefit to one class, %neccssari.
ly increases the burden of the others beyond their pro.
portion, and would be m%anifes,ly unjust. The terms
"protection to domestic industry arc of popular i'm.
port; but they should apply, under a Just system, to all
the various branches Of industry in our country. The
farmer or planter who tolls yearly in his fields, is en-
gagged in domestic industry" and is as much entitled
to have his labor "protected," as the manufacturer, the
man of commerce, the navigator, or the mechanic, who
are engaged also in "domestic industry" in their DIFF
erent pursuits. The lo.nt labors of all these classes
institute the aggregate of the "domestic industry" of
the nation, and they are equally entitled to the ma
tons protection" No one of them can Justly claim
70 be the exclusive recipients of "protection," which
can only be afforded by increasing burdens on the
"domestic industry" of the others.
If these views be correct, it remains to inquire how
far the tariff act of 1912 is consistent with them. That
mlny of the provisions of that act are in violation of
the cardinal principles here laid down, all must con-
cede. The rates of dirty imposed by it on some ati-