Wilmington journal. [volume] (Wilmington, N.C.) 1844-1895, 1845-12-19

receipts Of the same quarter last year.
Among the causes of decrease is the pro-
gressive diminution of the importation Of
many highIy-protected articles. and the
substitution of rival domestic products
For the nine months ending June 50, 1s43,
since the present tariff, the average of du-
ties upon dutiable imports was equal 10
1874 Ito per cent; for the year ending
June 80, 1874. 1895 9-l0per cent; and
for the year ending June 80, ls45, % 80
per cent.-showing agreat elimination in
the average per centage. owing in part to
increased importation of some articles bear
ing the lighter duties, and decreased i'm
portation Of others bearing the higher duty.
The revenue from ad-valorem duties last
year exceeded that realized from specific
duties, although the average of the ad va
loren duties was only % 81 per cent,
and the average Of the specific duties Al 80;
presenting another strong proof that lower
duties increase the revenue. Among the
causes tending TO augment the revenue.
edare increas emigration, and the annex
alton Of Texas. The estimates for the
expenditures of 1916, are based chiefly
upon appropriations made by Congress.
The estimated expenditures of ls47 are
founded upon data furnished by the seve-
raj departments, and are less by 81, lO8,-
I23s IS than those of the preceding year.
These estimates are submitted in the full
conviction that, whenever Congress, guild
ed by an enlightened economy, can dinin-
lsh the expenditures without injury to the
Public interest, such retrenchment will be
made, so as to tighten the burden Of taxa
ton, and hasten the extnguishment of the
public debt, reduced on the LIST of October
last to SIT, 1915, 445 50.
In suggesting Improvements in the reve-
nue. laws the following principles have
been adopted:
lst. That no more money should be COL
lected than is necessary for the wants OF
the government, economically admins
tered.
End, That no duty be imposed on any
yield the largest amount of revenue.
Sd, That, below such rate, discrimina-
ton may be made, descending in the scale
:, [of du,ies; Or. for imperative reasons, the
article may be placed in the list of those
free from all duty.
4th, That the maximum revenue duty
should be imposed on Injuries.
5th, That all minimums, and all specif
ic duties should be abolished, and ad valo
B. rem duties substituted in their place-care
being taken to guard against fraudulent in
voices and under-valuation, and to assess
the duty upon the actual market value.
9th, That the duties should be so impos
ed as to operate as equally as possible
s. throughout the Union, discriminating Meth
err for nor against any class or section.
No horizontal scale of duties is recon
mended; because such scale would be {
: refusal to discriminate for revenue, ane
: might sink that revenue below the wants O
the government. Some articles will yielt
= the largest revenue at duties that would b.
: wholly or partially prohibitory in other ca
ses. Luxuries; as general rule, will bea
: the highest revenue duties; but even some
!, very costly luxuries easily Struggled, will
bear but light duty for revenue, Wills
other articles of great bulk and weight
. will bear higher duty forrevenue. Their
is no instance within the knowledge of thi
0 department of any horizontal tariff eve
zIhaving been enacted by any one of the ma
lions of the world. There must be dlscrlm
. ination for revenue, or the burden of taxa
% ton must be augmented in order TO brin
the same amount of money into the treasury
, 1t is difficult, also, to adopt any arbitrar.
maximum, to which an inaexible adhel
:. ence must be demanded in all cases.
l. There are many luxuries which Wi
bear much higher duty for revenue tina
Ii 20 per cent; and the only true maximum
o is that which experience demonstrates wi
bring, in each case, the largest revenue :
2 the lowest rate of duty. Nor should max
/. Iimum revenue duties be imposed upon a
: articles; for this would yield too large a
5 income, and would prevent all discrinin;
ton within the revenue standard, and n
quire necessaries to be taxed as high a
luxuries. But. whilst it is impossible
n adoptsanY horizontal scale of duties. {
e even any arbitrary maximum, experienc
Of proves that, as general rule, duty of 2
t, per cent. ad valorem will yield the large
- ravonue There are. however. few e,
;; ceptions above, as well as many below
a, this standard.
> 1t is believed that sufficient means ca
61be obtained, at the lowest revenue dutle
3; on the articles now. subjected to duty; b.
3. if Congress desire larger revenue, 1T shoul