Portage sentinel. [volume] (Ravenna, Ohio) 1845-1854, 1845-12-10


les, and all the means and appliances in
vented to sustain governments founded in
injustice and oppression.
The we'll known fact that the tariff act
of 1912 was passed by q majority OF one
vote in the Senate, and two in the House
of Representatives, and that some oil those
who felt themselves constrained, under the
peculiar circumstances existing at the time
to vote in its favor, proclaimed IFS defects,
and expressed their determination TO aid in
Tits modification on the first opportunity, al
fords strong and conclusive evidence that
it was not intended to be permanent, and
of The expediency and necessity OF its
thorough revision.
In recommending to Congress reduc-
ton of the present rates of duty, and re-
vision and modification Of the act Of 1912,
t am far from entertaining opinions un-
friendly TO the manufacturers. On the
, contrary, l desire to see them prosperous,
, as far as they can be so without imposing
UNEQUAL burdens on other interests. The
advantage under any system Of indirect
taxation, even within the revenue standard
, must be in favor Of the manufacturing in
s terest; and Of this no other interest will
D complain.
: ! recommend to Congress the abolition
of the minimum principle, or assumed, ar
20 bitrary and false values, and Of specific
:. duties, and the substitution in their place OF
!. ad valorem duties, as the fairest and most
equitable indirect tax which can be impos-
? sed. By the I'D valorens principle. all ar
y ticles are taxed according to their cost or
. value, and those which are Of inferior
!. qualify, or Of small cost, bear only The
y lust proportion of the tax with those which
d are Of superior quality or greater COST
!. The articles consumed by all are taxed a
!. the same rate. A sy stem Of ad valoren
70 revenue duties, with proper discrimination
:, and proper guards agalnstfrauds in collect
"a ing them, it is not doubted, will afford am
d. pie incidental advantage to the manufae
N turers, and enable them to derive as grea
w profits as can be derived from any othe
= regular business. 1t is believed that sue
n system, strictly within the revenue stand
a. ard, will place the manufacturing interest
sr on stable footing, and inure to their per
al manent advantage; while it will as nearl.
: : as nearly as may be practicable. extend t'
- all the great interests Of the country the
: incidental protection which can be afford
. ed by our revenue laws. Such system
~ when once firmly established, would be per
- y manent, and not be subject to the constan
n complaints, agitations, and changes whicl
ls must ever occur, when duties are not lai'
9. for revenue, but for the "protection mere
n ly" Of favored interest.
=. In the deliberations Of Congress on thi
- subject, it is hoped that a spirit Of mutua
4 concession and compromise between con.
Aicting interests may prevail, and that the
% result Of their labors may be crowned with
= =. the hnppiest consequences.
- By the constitution Of the U. States il il
>. providedthat no money shall be drawn from
n, the treasurp but in consequence Of appro
- - priations made by law" A public treasury
:. was undoubtedly contemplated and intended
, to be created, in which the public money
should be kept from the period Of collec'
ton until needed for public uses. In the
% collection and disbursement OF the public
J. money no agencies have ever been en-
j. ployed by law, except such as were ap-
e pointed by the Government, directly re-
u sponsible to it, and under its control. The
safe keeping of the public money should
be confded 10 public treasury created by
law, and under like responsibility and con-
troll. 1t is not to be imagined that the fra
mers of the Constitution could have intend
ed that a treasury should be created as a
place of deposi,e and safe keeping Of the
public money which was irresponsible to
the Government. The first Congress un-
, der the Constitution, by the act Of the Sec
ond September, 1889, "to establish the
Treasury Department" provided for the
appointment of treasurer, and made il his
duty "to receive and keep the moneys Of
the United States" and ''at all times to suo-
NIT to the Secretary Of the Treasury and
the Comptroller, or either Of them, the in
spection of the moneys in his hands.
That Banks, National or State could not
have been intended to be used as substi-
tue for the Treasury spoken of in the
Constitution, as keepers Of the public mon
ey, is manifest from the fact that at that
), ), time there was no national Bank, and but
three or four State banks of limited capital
exiited in the country. Their employment
as repositories was ut first resorted at lin
tied extent but with no uvowed intention of
continuing them permanently. in place of
the treasury Of ftheconstitution. When they
were afterwards from time to time employ
ed, It was from motives Of supposed con.
venience.
! Our experience has shown, that when
banking corporations have been the keep
ers of the public money, and been thereby
made in effect the Treasury, the Govern
ment can have no guaranty that it can
command the use Of its own money for
public purposes. The late Bank Of the
United States, proved to be faithless. The
state banks which were afterwards employ
ed.were faithless. But few years ago, with
millions Of public money in their keeping.
Il tba Go,,st LIZ,