Staunton spectator, and general advertiser. [volume] (Staunton, Va.) 183?-1849, 1845-12-18
THE TREASURY REPORT.

| we lay before our readers, from the Union. ;
brief analysis and summary of its principal posi-
lions.
"lhe great question discussed in the repor,
arises out OF the second proposition, which is as
| follows: 70
"ihat no duty be imposed on any article above
that lowest rate which will yield the largest a.
| mount of revenue
The position is discussed, and advocated on
constitutional principles, as well as upon the
grounds OF equal rights and justice.
Two new constitutional arguments are present-
ed against protective duties.
The first is based upon the words of the cons,.
'u'ion granting the power "to lay and collect tax
es. duties, inposis, and excises.' All these
taxes are grouped in the same clause-the power
as 10 all Is the same-and all must be laid only
mat they may be collected and, If they are SO
Numposed, they cannot be collected, in whole q,
81 pa''' oy making the duty so high as to amount
10 total or partial prohibition, or any reduction
OF the revenue. Such duty is considered a, Win.
'a'iVe oil The authority given in this clause of the
constitution TO collect taxes, duties, &C.
me second position is based also on the words
VI me constitution, requiring every tariff to oiui-
nate in the House of Representatives, because i,
is a phi 'Jor raising rerenue." That is deemed
tue o"y constitutional object Of such bill, and
no, 'ne Pfotection OF classes or their pursuits.
Increase the wages OF labor-lhe system is 10
augment the profit OF capital, no, the wares of
iaoor-and that the result Of the system must be-
IN d series oil years, as the power Of manufacture
ing capital Is augmented from time 10 time tn
DrinS The wages of labor under It's control. and
ultimately TO reduce those wages so as to increase
the profit of capital.
Minimums and specifc duties arc rron,so,
be abolished and their effect illustrated in mall,
ing the duty much higher on the cheaper article
consumed by the poor, and much lower on the
inner article purchased by the more wealthv.-I
Is argued that the tax collected by the tariff is
not only the 81 millions of duties paid on impos,s
nut ga millions in addition in enhanced pri.
ces OF me protected domestic article. In illustra-
uoh OF tn'S position 1t is argued that the duty is
not paid by the foreign producer, but by The con-
sumner and that the duty constitutes as much
part oil the price as the cost of production.
The making OF laws 10 increase the pro6ts of
particular pursuits is opposed, and the view
taken that Legislation for classes is agans, the
doctrine of equal rights, and repugnant to the
spirit OF the constitution
Inc argument of countervailing the effect of
foreign tariffs by our own is sought to be answer.
CD. IL Is argued that the manufacturers who
urge inns argument are not the party injured by
these tariffs, but the great interests of agriculture
commerce and navigation; and that, Injured as
these interests may be by foreign tariffs thew
ask no countervaling tariffs at home to increase
the injury.
The great loss imposed upon our agriculture
by the tariff is asserted. 1t is argued that the
reduction OF our tariff would lead to the repeal Of
the corn laws of England, and the restrictions in
other foreign markets.
The warehouse system is recommended, and
the loss OF our trade in foreign exports for the
want an, OF snch system ia clearly illustrated.
Inc constitutional treasury" is earnestly re- |
commended, having no power to make loans or |
discounts, or issue any paper, and confined to the
use exclusively of gold and silver.
In conneSlon with the "treasury of the const- |
tution,'' the location OF branch of the mint At |
New ork is recommended as place for keen.
ing safely the vast amount of revenue collected
al New York, and also a means of Increasing
me coinage and the circulation of gold and OF