Martinsburg gazette. [volume] (Martinsburg, Va. [W. Va.]) 1833-1855, 1845-12-18
THE TREASURY REPORT.

We i1J DEtofe Ouf foh1cTs tfuH TIE
Union, brief analy SIS and summary offs
principal positions.
The great question discussed 10 the re-
port arises out OF the second proposition,
which is - follows:
"That no duty DO imposed on any ar.
ticls above tina, lowest rate which will
yield the largest amount Of revenue"
The position is discussed, and advocai.
ed on constitutional principles, as we'll as
upon the grounds Of equal rights and JUS
tlce.
Two new constitutional arguments are
presented against protective duties.
The FIRST is based upon the words OF the
constitution granting the power ITO lay
and collect taxes, duties, imposts, and ex.
cises." All these taxes are grouped In
the same clause---the power aslo alllsthe
ssme--snd all must be laid only tha' they
may be collected; and, il they are so inn
posed, they cannot be collected, 10 whole
or In part, by making the duty so high as
to amount 10 total or partial prohibition,
or any reduction Of the revenue. Such
duty is considered as vlolative OF the au.
thority given in the clause OF the consti.
tuition 20 collect taxes, duties, &c.
The second position is based also on the
words Of the constitution, requiring every
tariff to originate 10 the House of Repre-
senia,ives, because it is a bill "for raising
revenue" That is deemed The only con-
stitutional object Of such bill, and not the
protection OF classes or their pursuits.
1t is argued that tho protective system
does not increase the wages of labor
tina, the system is to augment the preft OF
capital. and not wages Of abor--and that
the result of the system must be, in a
series Of years. as the power 81 mauuiac
turing capital is augmented from time 10
time, 10 trlng the wages Of labor under
its control, and ultimately to reduce those
wages, SO as to increase the prof, Of cap
itsl.
Minimums and specific duties are pro.
posed to be abolished; and their effect il
Illustrated, in making the duty much high.
or on the cheaper article consumed by the
poor, and much lower on the finer article
purchased by the more wealthy. II is ar.
gued that the tax collected by the tariff is
not only the 81 millions Of duties paid on
imports, but 81 millions in addition 10 en-
HANGED prices Of the protected domestic
article. 10 illustration Of this position, i,
is argued that the duty is not paid by the
foreign producer, but by the consumer;
and that the duty constitutes as much a
par, Of the price as the cost Of production.
The making oflaws to increase the prof.
ito of particular pursuits is opposed, and
the view taken that "legislation Cor elias.
Sos 10 against the doctrine of equal rights,
and repugnant to the spirit of the consti-
tuition"
The argument Of couniervailing the
effect Of foreign tariffs by our own is
sought to be answered. 1t is argued that
:he manufacturers who urge the argument
are no. the party injured by these tariffs,
but the great interests Of agriculture,
commerce, and navigation; end that, in.
jused as these interests. may be by foreign
tariffs, they ask no countervailling tariffs
q, home to increase the injury.
The great loss imposed upon our sgri-
culture by tho tariff is asserted. 1t isar-
gued that the reduction OF our tariff would
lead to the repesl of the corn laws Of
England. and the restrictions in other for
elgn markets.
The warehouse system is recommended
and the loss OF our trade in foreign ex.
ports for the want OF such a system is
clearly illustrated.
The favorable effect Of the bill allowing
drawback Of our duties on foreign exports
carried through our ports to Canada is
shown, and an extension of the system re.
commended, SO as 10 permit the exporta.
tion Of Canada goods 10 transit through
our own ports to foreign countries. A re-
duclion and graduation of the price Of
public lands unsaleable at present rates,
IN favor OF settlers and cultivators, is re.
commended, as one Of the means Of increas.
ing the revenue. 1t is shown that such
reduction of the price in favor Of the set.
tiers would increase the wages OF labor.
The constitutional treasury" is earn.
estly recommended. having no power to
make loans or discounts, or issue any pa
per, and confined to the use exclusively OF
gold and silver.
In conuexion with the TREASURY of the
constitution the location of branch OF
the mint at New York is recommended as
u place for keeping safely the vast amount
of revenue collected at New York. and
also means Of increasing the coinage,
and the circulation Of gold and of silver.