American Republican and Baltimore daily clipper. [volume] (Baltimore, Md.) 1844-1846, 1845-12-03

,r,.. one hundred una sixty three thousand
oiuo hurGtcd and niuety-Cight dollars and fifty
Elk oguts. Tho expenditures fer thu game pc
rod were twenty nine millions nine hundred
and eixty-eght thousand two hundred and ~
dollars and ninety eight cents; of which, eight
millions ave hundred and lightweight tEOua
and one h0udrcd and titty-seven dollars and
silty-tNo cents were applied to tho payment
of the public debt. The balance in tho tiea-I
surv On the first Of July last was seven mil
hons six hundred aud lilty.eight thousand
three hundred and slN dollars and twGnty-,Wol
cents
Tho amount Of tho public debt remaining
unpaid on the first OF October last, was seven
teen millions sov2nty-fve thousand tour mug
dfod and iorly-hve dollars and hity-t"@ cents.
Further payments q the Prbhc Gebt womb
lave been made, in anticipation o' the peroo
Of It's reimbursement under the authority con
terred Upon tho Secretary OF the treasury by
the acts Of July twenty.iiist, 1871, ana OF APrll
fifteenth, lSl2, and March thIro, lS45, had
not the unsettled state OF our relations win
Mexico mensced hostile collision with that
power. In view of such contingency, it was
deemed prudent to retain in the treasury an
amount unusually large for ordinary purposes,
few wears ago our whole national debt
isls with Great Britain was extinguished and
we presented TO the world the rare and noble
spectacle of a great and growing people who
bad fully discharged every obligation. Since
that time, the existing debt has been contract
od and email as it is, in comparison with the
similar burdens Of most other nations, it should
be extnguished at the earliest practicable peri
cd. Should the state of the country permit,
and, especially, if our foreign relations inter
pose no obstacle, it is contemplated to apply all
the moneys in the treasury as they accrue be-
yond what is required fo7 the appropriations
by Congress, TO its liquidation. cherish the
hope of soon being able to congratulate the
country OH it's recovering once more the lofty
position which it so recently occupied. Our
country, which exhibits 10 the world the bene-
FITS Of self-govcTnment, in developing all the
sources of national prosperity, owes TO man
KIND the permanent example OF nation free
from the blightiGg influence of u public debt.
The attention of Congress is invited to the
Importance Of making suitable notifications
and reductions of the rates of duty imposed by
cur present tariff laws The object of impos-
ing duties on imports should DO 10 raise reve-
aue TO pay the necessary expenses OF govern
aent. Congress may, undoubtedly, in the ex-
crciso Of sound discretion, discriminate in
arranging the rates Of duty on different arti-
cles; but The determinations should be within
the revenue standard, and be made with the
view to raise money for the support of govern
inent.
II becomes important TO understand distinct
i, WlIal is meant by a revenue standard, the
maximum of which should not be exceeded in
the rates of duty imposed. 1t is conceded, and
experience proves, that duties may be laid so
high as TO diminish, or prohibit altogether, the
importation Of any given article, and thereby
lessen or destroy the revenue which, at lower
rates, would DO derived from its importation
Such duties exceed the revenue rates, and are
not imposed TO raise money for the support of
government. II Congress levy 4 duty, for re-
venue, OF one per cent. on given article, it
will produce a given amount of money to the
treasury, and will incidentally and necessarily
Sao!d protection, or advantage, TO the amount
OF one per cent. TO the home manufacturer of a
similar or like article over tho importer. IF the
cuty be raised to ton per cent, it will produce
greater amount OF money, and afford greater
protection. u 1t be still raised TO twenty,
twenty-five, or thirty per cent, and if, as il is
raised, the revenue derived from it is found TO
be increased, the protection or advantage will
also DO increased; but If it be raised to thirty
bne per cent, and il is found that the revenue
produced al that ratio is less than at thirty per
cont, il ceases to be revenue duty. The pre-
else point in the ascending scale Of duties at
which it is asceTtained from experience that
tie revenue is greatest, is the maximum rate Of
duty which can be laid for the bona fde purpose
Of collecting money for the support OF govern
ment. To raise the duties higher than that
point and thereby diminish the amount COL
lected is TO levy them for protection merely,
and not for revenue. As long, then, as Con-
gress may gradually increase tho rate Of duty
on gwen article, and the revenue is increased
by such increase of duty, they are within the
revenue standard. When they 60 beyond that
point, and, as they increase the duties, the TO-
venue is diminished or destroyed, the act cea-
SOS TO have for its object the raising of money
to support government, hut is for protection
merely.
1t does not follow that Congress should levy
the highest duty on all articles of mpor,
which they will bear within the revenue
standard; for such rates would probably pro-
ducc much larger amount than the econom-
ical administration Of The government would
require. Nor does it follow that the duties on
all articles should be at the same, or a horizon.
Ia! rate. Some articles will bear much high
or revenue duty than others. Below the max
mum of the revenue standard Congress nav
and ought 10 discriminate in the rates imposed
taking care so TO adjust Thorn on different arti-
rles as to produce in the aggregate the amount
which, when added to the proceeds of sales of
public lands, may DO needed to pay the econo-
nical expenses Of the government.
In levying tariff Of duties, Congress cxor-
else the taxing power, and for purposes Of re-
venue may select the objects Of tnxation.-I
They may exempt certain articles altogether,
and permit their importation free Of duty. On
others. they may impose low duties. In these
classes should he embraced such articles of NO
cessty as are in general use, and especially
such as are consumed by the laborer and the
poor, as wells by the wealthy citizen. Care
should be taken that all the great interests of