New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1845-12-03

uil statefnen W -uu
dit!on Of our finances The imports Tor INC Nsc" !est
ending on the hireth OF June last were OF the a'' OF
one hundred and seventeen rn!iiion' TWO h',c - an
ttl,3rr thousand tir- hundred and s'Ny 'lou "us'
OF which the amount exported was hiten ilt!ohs
briaS and forty thousand eight hundred ano 'H'!
ioIars-leavng bslsnce Of one hunoreo Hlu S'o '
lions nine hundred and seyen thonsano IN,
ard rh-ty four Gollsrs tor domestic 4N'
xcT, for the same year oil the value OF one nan
3-s6 and fourteen millions SIX hundred Aoo I9ny ,'N
,b,.ara six hundred and six dollars OF whicn the
1 io,,,st;, articles was ninety nine millions
TWO hundred and ninetynine thousand seven hundred
snd seventy SIX dollars -. -, ,.,, o
The receipts into tee treasury duFne 'ne SAM year
49, millions seven hundred and sixty nine
thousand one hundred and thty;hree dollars and nty-
SIX Of which there were derived iro'u eusohi
twenty millions I've hurfreu anu -" ''-u'
thousand one hundred and twelve dollars and sc'es'y
cents from sales of public lands Two millions seventy
seven thousand and twenty-five dollars and thirty cents
and from incidental and miscellaneous sources one hH1
bred and sixty three thousand nine hundred ana ninety
eight dollars ami t:tysS The expenditures ios
IN. SANE period twenty millions nine hundred
ana sixtyeght thousand wo hundred and six dosrs and
ninstveight cents which eight millions hve hundred
and ,irhtyeicht thousand hundred and fifty seven
dollars and sixty cents were applied TO the payment
- ,bs ,rblc debt The balance the treasury the
first OF July last millions six hundred and
fftv.echt thousand three hundred and six dollars and
ryentv-two cents.
III. s,noun, OF the public debt remaining unpaid
the first OF October last seventeen millions seventy
five thousand four hundred and forytve dollars and ~
~ Two cents Farther payments OF the puohc debt
youI6 have been made in anticipation OF the period Of
m rsirnburssuent under the authority conferred upon
tho Secretary OF the Treasury By the sets OF July twenty
tr. al and OF April fifteenth. 1872 and Nsrch third
l.2 had no, tire inserted state 0. our relations with
Mexico rrensced hostile collision with tnar bower In
view such contingency 1t wa cseinec prudent 10
retain in the treasury an amount unusoy FSc IoF Or
binary purposes.
fv, wears ago our whole national debt growing on.
Of the Revolution snd the war OF s@ win GFest britain
was exlinguished and presented 70 the word the
and noble spectacle OF great and growing people
who had fully discharged every obligation siuce tbs
time the existing debt has been contracted snd small
it is. in comparison With the similar burdens OF most
other nations should be cStnguished AZ the eafet
practicable period Should IL Of the country per
mt and especially If foreign relations nterpose
obstacle II contemplated apply all the moneys IN
the Treasury they beyond what required Tor
the anpropria,i, by Congress. 20 its iquidaron !
cherish the hope of being able graduate the
country its recovering once more the LOFTY position
which il 80 recently occupied Our couptry, which cN
hihifs 20 the world the benefits OF elfgovernineni IN
developing all the sources OF national prosperity owes
10 the permanent example OF nation tree from
the b.shiing influence of public debt
The attention Congress IS invited TO the importance
of making suitable notifications and reductions OF The
ra.es of duty imposed by present Tar1h laws The
object OF imposing duties imports should be 10 raise
revenue TO pay the necessary expenses OF government
Congress may undoubtedly in the exercise OF sound
discretion discriminate in arranging The rates OF duty
different articles; but the determinations should be
within she Standard and De made Win the view
10 raise money for the support OF government
Il becomes important 10 understand distinctly what's
meant By a revenue standard, the maximum OF which
should be exceeded in the rates OF duty imposed
is conceded and experience proves that Gres may
be laid high 10 diminish or prohioW altogether Tie
importation OF any given article and thereby lessen or
destroy the which at lower rates woad De De.
rived from its importation. such duties exceed the rev.
enue rates and imposed 70 raise money tor the
support of government Ii Congress levy duty for
enuc OF per cent on given article w" producea
given amount OF money 10 Tue treasury anu VIII incl
dcutay and necessarily afford protection, or advantage
the Of per cent 10 the home manufacturers
of sirna- or like the importer. II the duty
i, ispl "a ton
amount of money. ard afford greater protection. II be
still raised twenty twenty-five. thirty per cent and
raised the revenue derived from 10 found 10 be
increased tie protection or advantage Will also be IN
creased but II be raised 10 thrtyonc per cent, aud
found that the produced at that rate Is less
than Il; th.ty per 10 be revenue duty.
The precise point The ascending scale of duties
which is asceriaincd from experience that the revenue
is ercaes the maximum rate OF duty which can be
laid for the bona fde purpose Of collecting money Tor the
support government. To raise tue duties higher than
thar point and thereby diminish the amount collected is
20 levy them for protection merely. aud not for revenue
As long then, Congress may gradually increase the
Of duy a given article, and the revenue Is in
creased by such incrensc OF duty They within the
revenue standard. When they beyond that point and
they Increase the duties the revenue diminished or
destroyed the act to have for It's object the raising
of money to support government but Tor protection
/ merely.
1t does follow that Congress should levy the high.
duty all articles OF import which they will bear
within the revenue standard; for such rates would
probably produce much larger amount Than the
nomica administration OF the government would re.
qurc Nor does it follow that the duties all articles
should be at the same, horizontal rate. Some ari.
Giles will bear much higher duty than others
Below the maximum OF the revenue standard Congress
may and ought discriminate in the imposed TAX
ing adjust them different articles pro.
duce IN the aggregate the amount which when added
To the proceeds of sales OF public lands may be- needed
To pay the economical expenses OF the govern
nlevying tariff OF duties. Congress exercise the
ing power and for purposes o. may select the
objects OF taxation They may exempt certain articles
altogether, and permit their importation free Of duty
On others they may impose duties In these llasses
should be embraced such articles Of necessity in
general use and scaly such consumed by the
aborer and the poor well as by the wealthy citizen
Care should be TAX. that all the great interests of the
country, including manufactures agriculture commerce.
navigation and the mechanic arts should, Tar may
be practicable derive equal advantages from the incident
al protection which just system duties may
afford Taxation, direct Indirect is a burden, uEd 1t
should be imposed as TO operate equally may be
on all classes IN the proportion OF their ability bear it
10 MAKE the taxing power an actual benefit To class
necessarily increases the burden OF others beyond
their proportion, and would be msnesty unjust
The terms protection to domestic industry" Of
popular import but they should apply under just sys
TEN 10 all the various branches OF Industry
try The farmer planter who tolls yearly In his fields
is engaged in domestic industry" and Is as much enti
tied TO have his labor protected the manufacturer,
the inau OF commerce. the navigator, the mechanic
VINO are engaged also in domestic industry" in their
different pursuits The joint labors OF all these csssef
constitute the aggregate Of the domestic industry" Of
the nation and they equally entitled the nations
protection No OF them justly claim to be the
exclusive recipients OF protection, which can only be
Afforded ~ Increasing burdens the domestic indus
try Of tine others.
II these views be correct i. remains 10 inquire how
lar the Tariff Act OF 1872 is consistent with them That
many Of the provisions of that in violation of
cardinal principles here laid down, all coucede-
Tue rates OF duties imposed by II articles are
prohi6tory and others high greatly TO diminish
mporaiions and to produce less amount of revenue
than would be derived from lower They Operate
protection merely, 20 one branch oil domestic in.
dustry, by taxing other branches.
BY the introduction Of minmums, or assumed and
false values and BY the imposition specific duties the
injustice aud inequality OF the Of 1912 in is practical
operations on different classes and pursus are seen
and felt Many Of the oppressive duties imposed by it
under the operation Of these principles. range from
per cent to more than two hundred per cent They
prohi5iory on some artices, and partially on Others
and bear inost heavily articles OF common necessity
and but lightly articles Of luxury. II So framed thai
much the greatest burthen which II imposes is thrown
on labor and the poorer classes who csst able 10
H. "nie II protects capital and exempts the rch from
paying their just proportion Of the taxation required or
The support of government. While il protects the CAPT.
tai OF inc wealthy manufacturer, and increases hs pro-