Carroll free press. [volume] (Carrollton [Ohio]) 1834-1861, 1845-12-19

seventeen millions Seventy-hVe thousand
four hundred and fortv-hve dollars and
fify-two cents. Further payments OF the
public debt would have been made, in an
: ticpation of the period Of its reimburse
ment, under the authority conferred upon
the Secretary of the Treasury, by the acts
Of July twenty-frst, I841, and OF April
fifteenth, l842, and March Sd, l843, had
not the unsettled state of our rreIations with
: Mexico menaced hostile collision with that
power. In view of such q contingency il
was deemed prudent to retain in the trea-
sury an amount unusually large for ordina-
ry purposes.
A few years ago our whole national debt
growing outol the Revolution and the war
of 1919 with Great Britain was cXtingush-
ed and W. presented to he world the lare
and noble spectacle Of 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 the sim lar burdens
Of most other nations, it should be eXtin-
gushed at the earliest practicable period.
Should the state of the country permit, and
especially, if our foreign relations nterpo5C
no obstacle, it is contemplated 10 apply all
the moneys in the treasury as they accrue,
beyond what is required for the appropra-
tions by Congress, to its liquidation.
cherish the hope Of soon being able to con-
graduate the country on its recovering once
more The lofty position which lit so recently
occupied. Our country which exhibits to
the world the benefits Of lrgovernment,
in developing ali the sources Of national
prosperity, owes to mankind the perma-
nent example of nation free from the
! Tightening influence of public debt.
The attention Of Congress is invited 10
the importance of making suitable modifi-
cations and reduction OF the rates Of duty
imposed ty our present tariff laws. The
object of imposing duties on imports should
be 70 raise revenue to pay the necessary PX-
pense of government. Congress may,uu-
doubtedIy, in the exercise Of sound discre-
ton, discriminate IN arranging the rates OF
! duty on different articles; tut the diScrmi-
nations should te within the revenue
stagdard, and be made with the view to
raise money Tor the support OF govern
meut.
1t becomes important to understand dis
| tincuy what is meant ty a revenue stand.
srd. the maximum of winch should not be
exceeded IN the lales o. duty imposed
| 1t is conceded. and experience proves,
that duties nry he laid S high as TO dim
ish or prohibit tltcEethel the importalion
Of a ~ given artvie, % ID thereby lessen or
! destroy the revenue wE,ca. at lower rates,
would he derived from i;a importation,-
Such duties exceed tht revenue rates, and
are not imposed to raise money for the sup
port Of Government. II Congress levysa
duty for revenue Of one per cent. on
given artjcIp, it will produce a given
amount Of money 10 the Treasury,c"d will
incidentally and necessarily afford protec-
ton or advantage to the umountoI one
| per cent. to the home manutacu urCr ,0f a
similar or Ike article over the importer.--
If the duty be raised to ten per cent, ii
! will produce a greater amount OF money
and afford greater protection. II It he
, still raised TO twenty, twenty-five, or thir-
ty per cent, and it, as it is raised, the re-
venue derived from it Is found 70 he in
creased, me PFolecuoh or advantage VIII
also be Increased; bat It be raised to thIr-
ty-one percent, and It Is iound that The
revenue produced at that rate Is less than
at thirty per cent. II ceases to re a revenue
Iduty. The precise point IN the ascending
/ scale OF duties, at which 1t Is aScertalned
from experience that the revenue IS great
, est, IS the ma&munlate OF duty which can
he laid tor the toHa .Fdr purpose OF collect,
/ ing money Tor the support OF Government
To raise the duties higher than that point
and thereby diminish the amount collected
is to levy them ior,Protcction merely, and
not for revenue, AS long, then, as Con-
grpsS may gradually Ihclehse the rate o
0ol' on gwen ar'i''F' ana !nr revenue
h'fFI5' Il 'y S"'o ''''e'Se o' Uo'{, w., tn'y
/ are "I'h'N 'oe revenue F'H"9r'' ""fi
'h'y go "eyooa "'a' Po'h'' ana as 'ngy .l,' li'
crease the du''Gs' .he revenue Is ',ml"lEh'
/ ed' or d'S'roy'd' the act ceases 10 nave 'ol
US o'J"el TIE raising OF money 10 support
Goverhmcnt' out is 'oE pro'ec'loh merely,
IL does nOt lOIlON mat Congress SlOuIu