The Columbian fountain., 1845-12-04

hlDitory on some articles and partially so on 9TH
ers, and bear most heavily on articles of common
necessity, and but lightly on articles of luxury
IL is so framed that much the greatest burden
which II imposes is thrown on labor and the poor
er classes who are least able to bear il, while 1t
protects capital and exempts the rich from pay
ing their just proportion of the taxation required
for the support of the government While it
protects the capital of the wealthy manufacturer,
and increases his profits, it does not benefit the
operatives or laborers 10 his employment, whose
wages have not been increased by it. Articles of
prime necessity or OF coarse quality and low
price used by the masses of the people, are, in
many instances, subjected by il to heavy taxes,
while articles of finer quality and higher price,
or OF luxury, which can be used only by the opu-
lent are lightly taxed. II imposes heavy and un-
Just burdens on the farmer, the planter, the COM
mercal man, and those of all other pursuits ex-
cept the capitalist who has made his investments
in manufactures All the great interests of the
country are not, as nearly as may be practicable,
equally protectediby it.
The government in theory knows no distinction
of persons or classes, and should not bestow up
on some favors and privileges which all others
may not enjoy II was the purpose Of its illustri-
GUS founders to base the institutions which they
reared upon the great and unchanging principles
OF justice and equity, conscious that If adminis-
tered in the spirit in which they were conceived,
they would be felt only by the benefits which they
diffused, and would secure for themselves a de-
fence in the hearts OF the people, more powerful
than standing armies, and all the means and ap-
pliances invented to sustain governments founded
in injustice and oppression.
The well-known fact that the tariff of 1912
was passed by majority of one vote in the SEN
ate, and two in the House of Representatives,
and that some of those who felt themselves con-
strained, under the peculiar circumstances exist
ing at the time, to vote in its favor, proclaimed
its defects, and expressed their determination to
aid in its modification on the first opportunity, af-
fords strong and conclusive evidence that it was
not intended TO be permanent, and Of the expedi-
ency and necessity of its thorough revision.
In recommending to Congress reduction Of the
present rates of duty, and revision and modif-
cation of the act Of 1912, / am far from enter
tanning opinions unfriendyto to the manufacturers.
On the contrary, desire to see them prosperous,
as far they can be so, without imposing unequal
burdens on other interests The advantage under
any system of indirect taxation, even within the
revenue Standard must be in favor of the manu-
featuring Interest," and Of this, no other interest
will complain.
recommend to Congress the abolition of the
minimum principle, or assumed, arbitrary, and
false Values and of specific duties, and the subst
tuition in their place of ad vaLorem duties, as the
fairest and most equitable indirect tax which can
cles are taxed according to their cost or value,
and those which are of inferior quality, or of
small cost, bear only the just proportion of the
tax with those which are Of superior quality or
greater cost. The articles consumed by all are
taxed at the same rate. A system Of ad paLorem
revenue duties, with proper determinations and
proper guards against frauds in collecting them,
it is not doubted, will afford ample, incidental adj
vantages to the manufacturers, and enable them
tn acn nan ha upd from
any other regular business 1t is believed that
such system, strictly within the revenue stand
ard, will place the manufacturing interests on a
stable footing, and inure to their permanent adj
vantage while it will, as nearly as may be prac-
ticable, extend to all the great interests of the
country the incidental protection which can be af-
forded by our revenue laws. Such a system
when once firmly established, would be perma-
nent, and not be subject to the constant complaints
agitations and changes which must ever occur,
when duties are not laid for revenue, but for the
'sprotection merely" Of favored interest.
In the deliberations of Congress on this SUBJ
ject it is hoped that spirit Of mutual concession
and compromise between conflicting interests may
prevail, and that the result of their labors may be
crowned with the happiest consequences.
By the constitution of the United States it is pro-
vided, " that no money shall be drawn from the
treasury but in consequence Of appropriations
made by law" public treasury was undoubt-
edly contemplated and intended to be created in
which the public money should be kept from the
period of collection until needed for public uses.
In the collection and disbursement of the public
money no agencies have ever been employed by
aw, except such as were appointed by the govern
nent, directly responsible to it, and under its con-
rol. The safe-keeping of the public money should
De conhded to public treasury created by law,
md under like responsibility and control. 1t is
lot to be imagined that the trainers of the consti-
uton could have intended that a treasury should
De created place Of depostes and safe-keeping
IF the public money which was irresponsible to the
government The first Congress under the consti-
uton, by the act of the second Of September 1889,
to establish the Treasury Department" provided
or the appointment of treasurer, and made it his
luty " to receive and keep the moneys of the Uni
ed States" and at all times to submit to the |
Secretary of the Treasury and the Comptroller, or
ther of them, the inspection Of the moneys in his
lands."
That banks, national or state, could not have
,een intended to be used as a substitute for the |
reasury spoken of in the constitution, as keepers
If the public money, is manifest from the fact that
II that time there was no national bank, and but
hrce or four State banks of limited capital existed
n the country. Their employment as repositories
vas at first resorted to, to limited extent, but
With no avowed intention of continuing them per-
nanenty in place of the treasury of the constitu-
ion. When they were afterwards from time to
ime employed, il was from motives of supposed |
Our experience has shown, that when banking
corporations have been the keepers of the public
money, and been thereby made in effect the trea-
Jury, the government can have no guaranty that it |