The Hillsborough recorder. [volume] (Hillsborough, N.C.) 1820-1879, 1845-12-18

four thunssni iEe hnniEel ami .ixly-sori
dollars. nj which the am0nni exna.lea
was 6llreR millions ihree hundred sd
loFty-six Thousand eIgili hnnLrt,l ana iliip
~ "o!iars-lesEing a hslanre IL sI0I
9U7.1ss inT domestic consnmplien. m,
exports inF the sane year We re- Of The "
I've of slli.6if,60d; IL which. the anonnl
Of domestic aTiieles VAS sos. 2g9 ZIG
The receipts into Ihe Treasury during lhs
same year were so 769. l33 80 renls: q,
which. there were derived from customs
so. 52s,li2 30 cent; from sa'es OF pal n,
lands. -, 077. 022 30 ren.s; and lrom Incl,
dental aud miscellaneous sources. slG3
99S SO cents. The expenditures for the
same period were so 81 q. 20G IS cents. n
viii h, Ss.jss.i57 6s rents were applieL
81 tie payment Il The public debt. The
balanre IN The treasury ~ the first Of Ju.
ly last. was S7,05S, 800 - cents.
The amount 4 the pnlIic tsbt remair.
ing nBpsi! 0a Il c FIRST ri %, t,ter last,
wss seventeen m'IiIons srventy.liYs ,h.ai.
sand tour h. ndrfd and e. 1, live dollars
and City iva r6n~. FmiitT paym.nis
At the pubic feh, would have b. en- inside,
IN sniIer at on # the ptrioG If 1t. reim-
hnTsemenI u der he sulhnrIiy conferred
upon the S'eTe'sry Of The T,ea,uty by
tie tets OF joy 'w'nty-.ir.I, 1871, and
OF April fii'eei e., 1912. AMI Msrch thnd,
lSi3. had nh II e uu,eatlrd siale &c onI
relations With Mex co mcrar csd h sill,
collision viii ihal Iowsr. In view Of
such C. n lnGPrey. ii was detm'd pra
deaf 40 ret IA h The treasury an SIN Unit
unu'u l'y large t"' "rd nsry purposes.
A few yeas ag'. our While national
''eht growing Qua { the Revnlu'ion and
The wsr Of 1912 WI h Gfear Brt.in was
exIIngn"h'd, a"d We presea,td e. the
void the rare aud noble spectacle Of a
great and growing people who had fully
discharged every obligation. Since lha,
lime, The eSis ing debt has been can.rac.
tel; and small a. u il, in comparison with
the similar burdens al mast other nations,
II should be exungut.hed at the esrlIes,
practicable rer"d. S onld the stale If
the country permit, aH1 especially, il our
loie'gn relsuons InleFpose No obstacle, il
IS cnnlempl ted To spp'y I'll the moneys
IN the treasury as they accrue beyond
what is required f'r The appropriations By
Congress, 10 It's liquidation. | cherI, h
HE Ihs faGee rSSd aR9 hi RalqR FSias
more the lofty posiuon which il 50 recen.-
~ occupied. Our cslntTv, which exhib-
IT'S TO the world The benefits oil sell-gnv-
ernment, in developing all The sources Of
national property. o." es To mankind the
permanent example Of nation iree from
u e tlgh,ing inf, Q ce of public debt.
The aitnuon Of Congress is invited
to the importance Of making suitable mo.
dificaicns and reductions OF the r.tes Of
duty lmpo.'d by our present tariff laws.
The object of imposing duties on Imroi IS
should be 10 raise revenue 10 pay the ne
cesssry expenses OF government. Con-
gross may, undoubtedly, IN the exercise
Of a sound tl,scre,sOn, dlscrIm Iuaie IN AZ
ranging The rates OF du'v on dilfereti
tc!es; but the determinations shou be
within tie re,erue standard, nd re made
with the view to rase money Tor The sup.
port sf government.
II becomes iBportantt' understand dis
,inctly what is meant by revenue stsn,
dsrd, he max,um Of which should no. he
exceeded m The rates Of dLty Imposed.
Il is enc ded, and experience proves,
that duties NAV be lard 80 high as to di.
mirish or prohibit aI'og, Their The impor-
,a,ion If aov gwen srti' lie, and thereby
les. ell or de.!r The revt nue. which, al
lower IA e., would tie derived FROM its
import ,tior. Such duties exceed the rev e.
hue rates, and are no, imposed TO raise
money for The support OF governmen'.
If Cungiess levy a duty Inr re.enue 81
one pr cent. IN given article, Il will
prodrte gwen smnnnt ot money 10
the Irea.ur,, AID wdI ircIdenioly end
necessarily afford protecI"n or advantage
to the amount oi me per oeGI. IL & c
home manufacturer o; sImllSr or like
article o'er the imprrier. II the duty be
raised to IT, per cent. 1t will lroduCe i
greater amount of mtney, and afford
greater pro,e elton. II II be sill raised 10
twenty, twenty-five or thirty per cent.
md il as il is raised. ,he rerenue derived
from il is found IT, be Increased, The pro-
lection or advantage will also be increas-
ed; but il i, be raised 10 thr'y-one per
cent, md II Us found that the revenue
produced at that rate is less than al thirty
per cent. il Ceases 30 be a revenue duy.
The precise point IN 'he ascending scale
OF duties, at which II ls ssCeusned from
experience tha, The revenuc - glesIesl, Is
the maximum rate of duty which en- be
LAID 10, The bona file pUrro'e Of collect
ing money for tne support OF government.
To raise the duties higher than that poim'
aud thereby dun ni,h the amount COLE CT
ed, is 10 levy them for protection merely,
and not Tor revenue. A long then, as
Congress may gradu lily increase The rate
of duty on gi' en- article and the revenue
is increased by such increase OF duty,
4