Rutland herald. [volume] (Rutland, Vt.) 1823-1847, 1845-12-11

the .a~pnss Assrvs>r auS~Ies ~. sea
.P9-i III. Tbe trse,e,s ,sse Ne s<~sut, do
ung ~ ssee ,ess. ~. -eo.lss -, 81 which
ihcts aess cetived tfofn csstc<A4. ss7 .s2S
iisH. frrn sales sf,-o6tle lsa<s s2.o77.
ess ~ ssd hesp iasi,lerss, sad nss.cslls'
nes'os sssres. eru1.sys.N To. expendi.
lures boz Tive SAME p~s,--d ~ere Can .sss. sos..
- vi ~b'ch e~-kss-lss, % ~s,s svp.,sd "
ths payment oi the pssite dsha The bal
sncs - the treasury IN Tbs L., Of July las,
~ss e1.oss 300 ~
The snooni NJ The pus,ie deb, tcmsi Ming
unpaid on the ht-i oi Oct-'-~s lssi. ~ss sev.
sa'~so aa,li,ses seveaiv-6ve ihosssad ls.u,
huodted add forty hre doils,s and hty-~o
cent?. Further payments ui tho I,pbhc debi
| would have heen made, IN anticipation ol
the period ~ n. reimbursement under the
suihoritv conferred upo1 the Secretary al
'he Treasure hv tI,e acts of 1uly tweaiy.6rsi
isti. spd 81 Ap,il haesnih, isfa. s~d March
ihlrI. ista, had ne, the unsettled state of our
| relations with Mexico men ,c~d hostile COLI.
sion With that pnwer. IL view Of such q
contingency, u wss de,med prudent 10 re-
tain IN Tia Treasury an amount unusually
large for ordinsr, purposes
a few yeas ago or uhnle national deb,
rr',w ing nut ~ tie Revolution and the war oi
1912 with Great Briain was chiinguished.
sad we presented TO the world tho rare and
oobls spectacle nj great and growing peo-
pie VIM hal folly discharged evety obliga-
,ion. SInre that time, the existing dela has
been contracted and small as II ~. IN com
psfison with the similar burdens 81 most 9TH
rr nsiions, II should be e,iinrnished al the
earliest practicable period. SHOULD tie state
of the cou1ity permit, and sssrectalls, IL our
al. .at- q A. &.
contemplated TO apply all Abe msneys IN the
Treasury ss they accrue beyond whsi is re-
quited fur live appropriations nv Congress.
" its liquidation. cherish 1he hope ui soon
being DE Ia congratulate the country on its
recovering once more the luhy position
which |, 81 recently occupied Our country,
which exhibits 10 the world the benefits Of
s-lfgovernmen', in developing all the sources
OF national prosperity. owes a. mankind the
permanent example OF a nation free from the
bliein,ng influence Of public debt.
The attention Of Cong ress 10 invited 10 the
importance OF making suitable notifications
and reduction OF the rates of duty imposed
by our present tariff laws The object Of
imposing duties TN imports should be IN
r,ised revenue 10 pay The necessary expenses
II government. Congress may. undoubted.
ly, IN the exercise OF sound discretion, dis
eliminate in arranging the rates Of duty IN
different articles but the DISCRIMINATION
should be within the revenue standard. and
be made with the view to raise money lor the
support Of government.
" becomes important 10 understand dis
iinctly what is meant by a revenue standard,
ihe maximum Of which should not be OK.
ceeded IN the rates OF duty imposed. II is
conceded, and experience proves, that duties
may be laid so high as 10 diminish. or pro-
hIbi altogether, the imp6rtaiion of any civ
en- article, and thereby lessee ar DESTROY the
revenue which, at lower ra,fs would be de.
iived from its importation Sch duties ey-
teed the revenue rates, and are not imposed
To raise money or the support Of govern
ment II Congress levy DUTY, Tor revenue,
Vi one per cent. Of given article, II will
produce given amount Of money TO the
Treasury, and will incidentally and necessa-
MY afford protection, or advantage, 10 the
amoun, Of one per cent TO the home manu-.
Iac'urer Of = similar or like sf,iclc over the
importer. aif The duty be raised 10 ten per
cent, It will produce preHtet amount Of
money, aud afford greater protection. II il
be siill rnised to twenty, twenty or ,bir-
iy per cent. and H. as is II raised The reve me
derived from u is found 10 DO increased the
protection or advantage will also be increas-
ed but II II be raised 10 thiriysnn per cent.
and II is found that the revenue LroduceJ nj
that rate is less than at thirty rer cent. il
ceases TO be revenue duty. The precis e
point IN The ascending scsle OF duties at
which II 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 government. To raise the duties higher
Than That point, and thereby diminish the
nmotht collected, Is Ia levy them fr prolec-
lion merely, a9d not for revenue. As long
'hen, as Congress my gradually inc sease
the rate OF duty on given article, and the
revenue Ia Increased by such in,fease OF Gu.
", they are within the revenue standard -
When they 60 beyond that nuint, and, rs
they INCREASE the duties, the revenue IA d.
ninished or destroyed, the act ceases 10 have
Tor lis obIet, The raising of money 10 support
government, but is for protection merely
II does not follow that Congress should
levy the highest duty on all articles OF I'M
pom which lhev will bear within the revenue
| STANDARD; Tor such rates would probably pro.
| du'e lager amount than the eco.
nomical administration Of the government
would require. Nor does it follow that the
duties on all articles should he at tho same,
W ho'if'hiNhl tSlb- ioOtne articles v AZ
bear much bighe' revenue duty than 9th.
ers' Below the maximum Of tbe revenue
standard Congress may and ought To dis
| erimlua'e In The rs,es imposed, taking care
81 TO sdIusi them on Different articles as 10
produce In the aggregate The amount which,
when added to the proceeds Of sales of pub.
| tic lands, may be needed to pay The econom-
zeal expenses Of Tie government.
| 10 laSst,o . ,a,,H II I..,..-
erolses the taxing power, and for purposes
OF revenue may select tie objects OF laxa-
lion They may exempt certain articles al
! together and permit their importation free nj
duiy On sihefs they may impose NV do
ties. In q csc classes shoild Be embraced
such articles Of necessity as ere IN general
use, and especially such az are consumed
, by the labofef and The poor, as well rs bv the
~eallhy citizen. Care should be taken that
all he great Interests OF the country, includ-
ing n.'nuiAciures, agriculture, commerce
I o. so atA. n nd 10 l.