Ypsilanti sentinel. [volume] (Ypsilanti, Washtenaw Co., Mich.) 1843-1900, 1845-12-17

ce.. subjected by it to heavy taxes, while article,
of finer quality and high price or Of luxury, which
can be used only by the opuent, are highly taxed
II imposes heavy and unjust burdens on the farmer
| the planter, the commercial man, and those Of all
all other pursuits except the capitalists who has
made his investments in manufactures. All the
great interests of the country are no as nearly as
may be practicable, equally protected il.
The g veraInent in theory knows no distinction
of persons or classes, aud should NOT bes.ow upon
some favors g. privileges which ali others may not
enjoy. Ii was the purpose Of It's Iiluslrious foun
ders to base the Institutions which they reared up
| on The great aud unchauging principles of justice
ai.d tquIy, Conscious that if administered IN the
spiri, IN which they were conceived, they would
| be felt only by the benefits which they diffused
| and would secure for themselves defence IN the
hearts of The people, more powerful than standing
armies, aud all the means and appliances invented
to sustain COVE INFANT founded To injustice and op-
prersion.
The well known fact the tariff &C, of 1912
was passed by majority OF one vote in the Sem
ate aud two in the House of Representatives and
that some Of those h3 fe. themselves constrained
under the peculiar circumstance existing at the
the time to vote in its favor, proclaimed its defects,
and expressed their determination to aid IN its mod
caiion OH the first opportunity. affrd strong aud
conclusive evidence that it was not intended TO be
permanent, and of the expcdiency aud necessity Of
lis thorough revision.
In recommending 10 Congress a reduction Of
the present rates Of duty. and revision and mod
fcatiop of the act Of 1912, am far from enter-
tanning opinions unfrIendIy 20 The manufacturers
On the contrary, desire 10 see them prosper
ous as far as they can be 50, without imposing
unequal burdens on other Interests. The advan-
tage under any system of indirect taxation, evel
within the revehue standard must be IN favor of
the manufacturing inieres, a I'd Of this no other
Interest will complain.
recommend t, Congress the abolition of the
minimum principle, or assumed, arbitrary or false
values, aud of specific duiies and the substitution
in their place of adj valorem duties as the faIresi
and most equitable indirect tax imposed By the
ad valorem principle, all articles are taxed aecor-
ding to their cost Of value, and those which are
of inferior quality, of small cost, bear Only
Just proportion with those Of superior qualify or
greater cost. The articles consumed by all are
taxed at the same rate. A system of ad vaOrem
revenue duties, with proper Determinations and
proper guards against frauds IN collecting them, it
IS not doubted, will afford ample incidental advan-
vantages TO the manufacturers and enable them to
derive as great profits can be derived from any
other regular business. |; is believed that such
system. strictly within the revenue standard, will
place the manufacturing interests on stable foot.
ng, and nnure to their permanent advantage =
while IL WILL rs nearly as may be practicable, ex
tend 10 all The great Interests Of the country ihr
Incidental protection whch can be afforded by our
rcvenue laws. Such n sysl'm when once firmly
established. wound be permanent, and not be sub
ject to the Constant complaints, agitalions, and
changes winch must ever occur when duties
not LAID for revenue. but for the "protecun mere
ly" of favored interest.
La the deliberations of congress on the subject.
il is hoped that spirit oi mutual concession and
comp romise between conflicting Interests may pre-.
vsil, and that the result of their labor NAV BIT
crowned with the happies. consequence.
Sub-Ireasmy.
BY the constitution of the Unaed States Il is pro-
vlded, that ono money shall be drawn from The
treasury but in consequence of appr"p. iAtionsmaee
BY laws" A public treasury vas undpub edl,
contemplated and intended TO be created in Inch
the public money should be kept from The period
of col lection until needed for the public Uses. In
the collection and disbursement ot The public mon
ely no agencies have ever been employed by law
except such as were appointed by the government
directly responsible to it. and under liz control.
The safe keeping Of the public money should be
confded to public treasury created by law. and
under like responsibility and control. II is no: TO
be imagined that the trainers of the cons,ilu ion
could have intended that a treasury shouldbe ere.
ale as place of deposte aud safe keeping of the
public money which was irresponsible to the gov
eminent. The first Congress under the consu-
ton, by the act of the second September, 1889, $50
establish The Treasury Department" provided foI
The appointment of troasuer, and made II his du-
~ 'to receive and keep the moneys of the United
States" and sat all times to submit 10 the Secre-
tsry of the Treasury and the Comptroller, Ell
Their them, the inspection Of the moneys his
hands.
Tha, banks national or slate, could not have
been inend ed To- be used as a substitute for the
treasury spoken of m the constitution, as keepers
of the public money, is manifest from the fact that
at that time there was no national bank, and but
three or four State banks of limited capital exis-
ted in the country. Their employment as dc pos
tories was at first resorted to, to limited extent
but with no avowed intention of continuing them
permanently in place OF the treasury Of the Coli
stilutlon. When they were afterwards from time
to time employed, it was for motives of supposed
convenience.
Our experience has shown, that when banking
corporations have been The keepers OF the pubic
money, and been thereby made in effect the treas
ury, the government, can have no guaranty that 1t
r.