The New era. [volume] ([Portsmouth, Va.]) 1845-1847, 1845-12-04

the capitalists who has made shis investment in
manufactures. All tho great interests of the coun-
try are not. as nearly as may be practicable,
equally protected by it.
The government in theory knows no distinc-
ton of persons or classes. and should not bes,ow
upon some favors and privileges which all others
may not enjoy. II was the purpose of its illus
trious founders to base the institutions which
they reared upon the great and unchanging prin-
ciples of justice and equity, conscious that If ad-
mlnlstered in the spirit in which they were con-
ceived, they would be felt only by the bsnefi;.
which they dffused, and would secure for them
selves defence in the hearts of the people, more
powerful than standing armies, and all the means
and appliances invented to sustain governments
founded in injustice and oppression.
The well known fact that the tariff act of 1912
was passed by majority of one vote in the Sen
ate, and two in the House of Representatives, and
that some of those who felt themselves consran-
ed, under the peculiar circumstances existing at
the time, to vote in its favor, proclaimed its de-
iects, and expressed their determination to aid i'm
Its modification on the first opportunity, affords
strong and conclusive evidence that it was not in
tended to be permanent, and of the expedency
and necessity of a thorough revision, raj
In recommending to Congress reduction of
Inc present rates of duty, and a revision and
modification of the act of 1912, am far from en-
tertalnlsg opinions untriendly to the manufac-
turers On the contrary, | desire to see them
prosperous. as far as they can be so, without i'm
posing unequal burdens on other interest. The
advantage under any system of indirect taxation,
even within the revenue standard, must be in
favor OF the manufacturing interests and of this
no other interest will complain
| recommend to Congress- the aboIiton of the
minimum principle, assumed, arbitrary. and
false values, and of specific duties and the sub
stltuton in their place of ad raLoren, duties, as
the fairest and most equitable indirect tax which
can he imposed. By the ad oalorem principle,
all articles are taxed according to their cost or
value, and those which are of inferior quality, or
OF small cost, bear only the just proportion of the
tax with those which of superior quality or
greater cost The articles consumed by all are
taxed at the same rate. A system Of ad yaloren,
revenue duties, with proper Determinations and
proper guards against frauds in collecting them.
1t is not doubted, will afford ample incidental ad-
vantages to the manufacturers, and enable them
to derive as great profits as can be derived from
any other regular business. 1t is believed that
such system, strictly within the revenue stand
ard, will place the manufacturing interests on
stable footing, and inure to their permanent, adj
vantage; while it will, as nearly as NAV be prac
tlcable, extend TO all the great interests NJ The
country the incidental protection which can be
afforded by our revenue laws Such system
when once firmly established, would be perma.
nent, and not be subject to the constant COM
plants, agltations, and changes which must ever
occur, when duties are not laid for revenue. but
Tor the " protection merely" Of a favored inter
est.
In the deliberations of Congress on this sub
Ject, 1t IS hoped that spirit of mutual conces-
SION ana compromise between conflicting inter-
ests may prevail, and that the result of their
labors may be crowned with the happiest con-
sequences. .-.., -