The Caledonian. [volume] (St. Johnsbury, Vt.) 1837-1867, 1845-12-06

NJ mi ions nle ol tho mnsI satisfactory character
!, IA hoped that in this enlightened age these dilercn
,ie. may be nmcnhly adjusted
The Secretary Of the i'reasury,in his annual report
d, Congress, will communicate full statement Of the
,rd,lon Of our finances. The imports o. the fiscal
o, end 70 on the thirteenth Of June last were ofth
lre of one hundred and seventeen millions two hun
J,od ind flly. four thousand FIVE hundred and sixy.
Cnr dolnrs of which tho amount exported was fifteen
llons three hundred and lorty-six thousand einht
Gnndred and thirty dollars leaving balance of one
hundred and one millions nine hundred and seven
h,us,nd seven hundred and thiry-four dollars for do
nestle consumption. The exports Cor the same yonr
nero of the value Of one hundred and fourteen mill
oos six hundred and forty six thousand six hundred
and six dollars; Of which, the amount Of domestic mr.
,;,es was ninety mlons.two hundred and nine
ynine thousand seven hundred and sGventy-six dol
ar, The receipts uto the treasury during the same
yc,r were twenty nine millions seven hundred sixty
1ipc thousand one hundred and thirty three dollars
and fny.sX cents Of which, there were derived from
"A customs, twenty seven millions five hundred and
wenty.cight thousand one hundred and twelve dol
lars and seventy cents; for sales public lands two
millions seventy thousand and twenty-five dol
hs and thirty cents; and from incidental and misce
hneous sources one hundred and sixty three thou.
sand mind hundred and ninety eight dollars and fifty
six cents The expenditures for the period
weietwenty. nine millions nine hundred = iXty-eght
thousand two hundred and six dollars and ninoty-
eight cents; Of which eight millions five hundred aud
lightweight thousand one hundred and fry-seven
dollars and sixty two cents applied to the pay
,ocnt ofthe public debt, The balance in the trensur
yon the first Of July last, was seven millions six hun
led and fifty eight thousand three hundred and six
dollars and twenty-five cents.
The amount ofthe public debt ramaning unpaid
on the first Of October last, was seventeen millions
evenly FIVE thousand four hundred aGd ory-ive dol
"A ars and fliy.two cents. Further payments of the
olhic debt would have been made, in anticipation
orthe perad Of its reimbursement under the.nuthnr-
ly conferred upon tho Secretary orthe Treasury by
die acts Of July 2lst, 1871, and Of April l5rh 1872
and of March third 1913, had no. the unsettled state
Of ou relations with Mexico menaced hostile collision
with tha power. In view Of such a contingency, il
was desmed prudent 10 retain in the treasury an a
moan: unusually large for ordinary purposes
The attention Of Congress * invited to the impor-
Of making suitable notifications and red uclions
oflhe rates Of duty imposed by present Tariff
laws The obi aC Of imposing duties on imports should
he to raise TO pay the necessary expenses Of
government Congress, may undoubtedly, in the OK
ercise Of sound discretion, discriminate in arranging
the ra'5s Of duty different articles; but the dis
ordinations should be within tho revenue standard,
and he made with the view to raise money for the
support Of Government
Il becomes important to understand distinctly what
* meant by revenue standard, tho maximum of
which should not he exceeded in the rates Of duty
imposed. II is conceded, and experience proves,
that duties may be laid 40 high To dimush, or pro
hibi, altogether the importation of any given article,
S0d thereby lessen destroy the revensc which, at
Ower rates, would he derived from its importation
Such duties exceed the rates and inn
msed to raise money fnr tho support Of government
It Congress levy duty, for revenue, of per cent
on given article. il will produce u given arnonnt of
money to the trensury and will incidentally aud
cssUty Nfor,i protection, or advantaget TO the
Of per cent, TO the home Manufacturer Of SINH
lar nr ike article ;he importer.
n the duty bG raised to ten per cent it will pro-
due sreat"r amount Of mon ~, s. afford grenter
protection. f it he still raised to 25 or so per cent
nl if, as it is raised. the derived from it
- found 10 he increlsed, the protection advantage
will also be inerease6; but if il be raised to 81 per
4 rent and it found that the revenue produced at
INT rate Is less than NJ 81 per cent it TO be
A.evenue duty. The precise point in the ascend
ny scale Of dates ut which it is aScerinned from
R>'f'-ience that the revenue is greatest, is the max
mum rate of duty which he laid FOR the bona
\ ila purpose of collecting manev for the support Of
/, overnment, To raise the duties higher than that
7anl, and thereby diminish tho amount collected,
9 to levy them for protection merely, and not for
'orenue. AS long. then, as Congress may gradually
ocroasc the rate OF duty given article, and the
revenue is increased by such iurrease Of duty they
\ are within the revenue standard. When they go be
You'd that point, and they increase the duties, the
revenue is diminished destroyed, The act ceases
have for its bpct the raising Of money to support
government hut is for protection merely
|, does not follow that Congress should levy the
highest duty all articles Of import which ihcy will
bear within the ravenue standard; for such rates
B"oud probh5ly produce a~iach larger amount than
B 'Ee economical administration of the government
would require Nor does it follow that the duties on
& all articles should bs the same, or a horizontal
rate. Some articles will bear much higher revenue
Putty than others. Below the mnximum OF the reVe-
nue standard Congress may and ought to discriminate
IN the rates imposed, taking 30 to adjust thcn on
4dleent articles 10 produce in the aggregate the
RNmount which, when added to the proceeds oil The
saIes of the Dublic lands may b. needed to pay The
xeconomcal expenses Of the government.
In evyng tariff OF duties, Congress exercises the
Waxing power, and for purposes of revenue may So
sfect the objects Of taxation. They may exemp; GER
VAN articles altogether, and permit their importation
Nee o'duy. On others they may impose low duties.
o these classes should be embraced such articles OF
cesSty as are in general use, and especially such as
Pre- consumed by the laborers and the poor, rs well
f BY the wealthy citizen. Care should be taken that
the great interests Of the country, including manu-
lures, agriculture, commerce, navigation, and the
schanc arts, should as far as may be practicable,
HP'rye equal advantages from the incidental protection
y mhch Just system Of revenue duties may afford
aXallOn, direct indirect, is a burden and should
~ so imposed ms 10 operate equally MS may be- on
classes, IN the proportion of their ability to bear it.
10 make the taxing power an actual benefit to one
aSs necessarily increases the burden OF the others
eyond THAR proportion, and ould he mani(estly
pest The TERMS protection to domestic, are Of pop
Il par import; 5u they should apply under Just sys.