Virginia free press. (Charlestown, Va. [W. Va.]) 1832-1916, 1845-12-11
THE TREASURY REPORT.

H ~ fE Ift
We lay before our readers. from ii. UnioD,
otistanalysis and un@a;J Of itsPriacipal pos
lions.
The great question discussed in ID
report arises ou,of the second proposition
which is a. follows:
That no duty be imposed on spy article q
oove that lowest rate which will yield the larg
est amount Of revenuei" |]
Tbe position is discussed. aud advocates
on constitutional principles az well as up
on the grounds Of eeuslrigh,s and justice
Two new consii,Stional argumeu6s ar,
lpresented against protective duties,
II Tie first is based upon he.words OF tb,
Econsiiiniion granting the power "to lay
land collect taxes, dptiss, imposis. and ex.
teises. :" All these lakes are grouped in
the same clause -,he power IS 10 all j.
The same-and all must be laid only that
They may be collected; snd, il they are
50 imposed, they cannot be collected, in
whole or in part. by making he duly so
high as 10 amount 10 q total or partial
prohibition. or snyAredlclion Of The re ve-
que. Such duty is considered as viola
i've Of the authority given 10 this clause
Of the constitution 10 Collect lakes. duties,
i&c. 81
The second posiliongis based also on the
words Of The constitution, requiring eve
Try tariff TO originate 10 The House Of Re-
representatives. because tits bill for rails
ing revsnue." That il deemed The onlv
constitutional object of such a bill aud
mot The protection OF classes or their pur-
suits. Ed
!. is argued tina, the protective system
does not increase the wages III labor
that system 10 to augmenl.tbe profit of
capital. aud the wages Of labor ard that
the result Of the system must be, ia Sc.
ries Of years. as the power OF manuIac-
turing capital is augmented from time TO
time, TO bring the wages OF labor under itt
control. and ultimately TO reduce those
wages soas 10 increase the profit Of CAPT
|,sl.
Minimums and specific duties are pro.
posed 10 be abolished and their effect ii.
lus'raIed. in making the duty much high
Ell on the cheaper article consumes BY The
poor. and much lowerIon the finer article
purchased BY the more wealthy Iii is
argued that the tax collected BIZ The tariff
il moi only the % millions OF duties paid
on imposis. but54 millions 10 addition 10
enhanced prices The protected domestic
article. 10 illustration Of this position. il
il argued that the Guty is moi raid by the
foreign producer, but by the consumer :;
and that the duty constitutes Is much a
part Of the price ss the cost Of produc
ilon.
The making OF laws 10 increase the pro.
Oils Of particular pursuits is opposed. and
the view AIKEN tina, Legislation ior%class
eli is against The doctrine Of equal rights,
sM repugnantto the spirit oil The consti
t4tsoa."
The argument OF couniervailing the ef-
feet Of foreign tariffs by our own is souch,
I'd be answered. II is argued that lhe
manufaclurers who urge this argument are
not the partysinjaged by these tariffs, bu,
the great interest OF agriculture, commerce
ane navigatiSn: and thai. injured as these
interests may % BY foreign tariffs. they
ask no counterv,iling tariffs al home 10
increase The injury.
The grea; loss imposed upon our ssri-
culture by tie tariff is asserted. Ills
gped ihat,he reduction Of our iarif would |
lead 10 the repeal Of The corn laws of
England. and the restrictions 10 other fo.-
eign markets.
The warehouse system il recommend
ca, and The loss OF our trade ia foreign ex |
ports for the wao,- Of such I'll tysle % is
clearly illAlta,ed
Z The constitutional treasury" is ear
neslly recommended. having % power 10
meke loans or discounts. OF issue any pa
per, and confined to the use exclusively
II gold and silver.
ln connexion with the 'treasury ofthe
Substitution. " the location Of branch Of
he mint 81 New York il recommended
= place for keeping safely The vast a.
noaai Of rsyeane collected Al New York,
nd also a means ~ Increasing rhe coin.
Il, and the circulation d gold and oil
liver.