The Somerset herald and farmers' and mechanics' register. [volume] (Somerset, Pa.) 183?-1852, 1845-12-23

hlIn WnclleT lillS WOuIQ not DC lne pldln
operation of the rule.
But the Secretary of the Treasury had
made other very wonderful discoveries IN
finance. What did he tell US! ExPERl-
ExCE PROVES that, as general rule, du-
ty of TWENTY PER CENT. ad valorem VIII
Weld the largest amt revenue. Ies;expe-
rience proved that an AID vALoREM duty OF
twenty per cent. would yield the greatest
amount of revenue. Twenty per cent.
Weld the greatest of revenue! Why,
what was the great, broad, universally
known experience of the country! We
had a tariff Of twenty per cent. in 1912
and what was our revenue? Not one
half of what it is now. The whole a
mount of revenue from imports was then
about thirteen millions, and this year IT
was twenty-seven millions. Was thir-
teen more than twenty-seven! If so, the
Secretary is right; if not he was wrong.
And what was the effect of their twenty
per cent. horizontal duty! Under It's OPP
Grafton the country was prostrated, the
Government itself was bankrupt, and the
people were little better. Yet this man
could say, in the face Of these well-known
facts, and of the American people, any
one of whom knew better, that an aver
age duty of twenty per cent. yielded the
highest amount of revenue. The Secre-
tary had even gone further yet than this;
in his famous circular he had assumed
that twelve ane half per cent. horizon
tai was the true revenue standard. Some
Western scribbler asked him, through
the press, how much revenue I29 per
cent. would give on one hundred millions
ofimpOrts! (that being more than the
average smount.) The answer must be
twelve and half millions; then deduct
three and haIf millions, the expense Of
collection, and but nine millions of nett
rvenue would be left to pay twenty-six
millions of expenditures. To make up
the revenue, yon must add more than one
hundred millions to your imports, while
Your whole specie has never been esti-
mated at more than eighty-five millions;
then all your spheie goes for your first
year, and where will you get money for
the next year! These questions, being
rather troublesome, were never answer
ed.
The trnth was, that the revenue result
ed from the tariff, and followed it. When
the tariff was low, the revenue was low;
when the tariff was high, the revenue was
high. That had been the uniform expe-
rience of the country, and he challenged
gentlemen TO show the contrary. 1t
must be SOFT could not be otherwise. And
why! Because the result OF protec ton
was to make the people rich and taking of
protection made them poor. When the
people were rich the Treasury was full;as
the country became poor the Treasury
was impoverished. The condition Of the
Treasury was, in fact political ther-
mometer, to test the prosperity of the
country. According to the national pros
perity, so would the revenue ever be
found. When men were impoverished,
could they purchase goods freely! Ger
tainly not. When prosperous, their
wives and daughters could purchase cost
ly clothing and rich furniture, and then
many goods were always imported. But
when the country was impoverished,
men would wear their old coats, their
wives and daughters stayed at home and
mended them, merchants could not get
money to import goods, and the Treasu-
ry was impoverished.
Under the compromise law the duties
ran down till they reached the point
Of twenty per cent; then was the
gentleman's Uptopia; then, according
to the Secretary, the revenue ought
to have been abundant; but who
has vet forgotten, or could ever forget,
what had been then the condition Of the
Treasury, and of this entire nation! The
Treasury was so perfectly bankrupt that
il could not borrow one hundred dollars.
The States were every where repudia-
ting their debts, and the National charac-
ter lay PROSTATE and bleeding. That was
tie condition, and every body knew il, TO
which a twenty percent. tariff had brought
this land; and yet at this day the first
fiscal officer of the Government had the
front to recommend a return TO that state
of things. In our great humiliation and
distress the tariff of '42 came in like de-
livering angel; it raised and restored the
revenue;it replenished a famihsed Trcasu-
ry; it brought reputation into disrepute;
it made bankrupt law useless; in a
word, it struck the whole country as with
the wand Of an enchanter, and brought
back plenty. and credit. and enterprise,
and hope, and public character. Why
then distub it! What mischief had it
done! The Secretary deprecated agita-
ton, but who agitated the country! 1t
was the Secretary himself and his friends.
The friends of protection every where
cried out, ''give the country repose,"
"Give the country prosperity and peace
under the tariff as it SIS
The hour here expired, the Chair