Vermont phÅ“nix. [volume] (Brattleboro, Vt.) 1834-1955, 1845-12-04


in the Columbus, and was charged by the commits
sioner with the duty of exchanging with the proper
authorities the raii6catons of the treaty lately con-
cuded with the Emperor Of China. Since the re-
turn of the commissioner TO the United States his
health has been much improved, and he entertains
the confident beliefth he will soon be able 10 pro-
coed on his mission
Unfortunately, differences continue 10 exist a.
mong some of the nations Of South America,
which, following our example, have established
their independence, while in others internal dis
sensions prevail. 1t is natural that our sympathies
should be warmly enlisted for their welfare; that
we should desire that all controversies between
them should be amcably adjusted, and their gov
ernments administered in a manner to protect the
rights and promote the prosperity of the people,
1t is contrary, however, to our settled policy to in
terfere in their controversies, whether external or
internal.
have thus adyerted to all the subjects connected
with our foreign relations, to which deem il nee
essary to call your attention. Our policy is not
only peace with ALL but good will TO all the powers
of the earth. While we are Just 10 all, we require
that all should be just us. Excepting the difieren-
ces with Mexico and Great Britain our relations
with all civilized nations are Of the most sa,isacto-
ry character Ii is hoped that in this enlightened
age, these differences may be amicably adjusted.
The Secretary of the Treasury, in his annual
report to Congress, will communicate full state
ment of the condition of our finances. The i'm
ports for the fiscal year ending on the thirteth of
June last, were Of the value Of one hundred and
seventeen millions two hundred and fifty four
thousand five hundred and sxty-four dollars, of
which the amount exported was fifteen millions
three hundred and forty six thousand eight hun
bred and thirty dollars-leaving balance Of one
hundred and one millions nine hundred and seven
thousand hundred and thirty-four dollars for
domestic consumption. The exports for the same
year of the value of one hundred and fourteen
millions six hundred and forty six thousand six
hundred and SIX dollars of which, the amount of
domestic articles was ninety nine millions two
hundred and nnety-nine thousand seven hundred
and seventy-six dollars. The receipts into the
treasury during the same year were twenty-nine
millions seven hundred and sxty-nine thousand one
hundred aud hrty-three dollars and ffly-six cents;
of which, there were derived from customs twenty
seven millions five hundred and twenty-eight thou
sand one hundred and twelve dollars and seventy
cents: from sales of public lands two millions
seventy-seven thousand and twenty-five dollars and
thirty cents; and from incidental and misceane-
Gus sources, one hundred and sixty-three thousand
nine hundred and ninety-eight dollars and 6ity-six
cents The expenditures for the same period we're
twenty-nne millions nine hundred sxty-eight thou
sand two hundred and six dollars and ninety -eight
cents Of which, eight millions i've hundred and
lightweight thousand one hundred and ffty-seven
ment Of the public debt. The balance in the treas
ury, on the LIST of July last, seven-mlions six
hundred and ffty-eight thousand three hundred and
SIX dollars and twenty-five cents.
The amount Of public debt remaining unpaid on
the LIST of October last, was seventeen millions
seventy-fve thousand four hundred forty-6ve dol
lars and 6fty-two cents Further payments Of the
public deb: would have been made, in anticipation
OF period of its reimbursement under the author
. confarrad tho IF tho urv
by the acts of July twenty-rst, lS4l and of April
fifteenth, 1912, and March third, lS43 had not the
unsettled state of our relations with Mexico men,
aced hostile collision with that power. In view Of
such a contingency, it was deemed prudent to re-
tain in the treasury amount unusually large for
ordinary purposes.
A A few years ago, our whole national debt grow
4 ing out Of the Revolution and the Of 1912 with
Great Britain, was extnguished, and we presented
TO the world the and noble spectacle Of great
and growing people who had fully discharged every
obligation Since that time, the existing debt has
been contracted and small as it is in comparison
with the similar burdens Of most other nations it
should be extingulshed at the earliest practicable
f period Should the state of the country permit, and
especially, if our foreign relations interpose OBJ
stacle it is contemplated to apply all the moneys in
the treasury as they accrue beyond what is required
for the appropriations by Congress- to its liquidation
cherish the hope of soon being able to congratu-
late the country on its recovering once more the of
~ position which it so recently occupied. Our
country which exhibits to the world the benefits oil
segoyernment, in developing all the sources of ma.
tlonal prosperity, owes to mankind the permanent
example Of nation free from the blighting influence
of public debt.
The attention of Congress is invited 10 the impor.
lance of making suitable notifications and reduc-
tions the Of duty imposed by our present tar
if laws. The object of imposing duties on imports
should be to raise revenue to pay the necessary ex
1 penses Of government. Congress may, undoubied
ly, in the exercise of sound discretion, discrimi
nate in arranging the rates of duty on different ar
f ticles but the determinations should be within
the revenue standard, and be made with the view
to raise money for the support of government.
1t becomes important to understand distinctly
s. what is meant by revenue standard, the maximum
of which should not be exceeded in the rates Of du
by imposed 1t is conceded. and experience proves
that duties may be laid 50 high TO diminish Of
prohibit altogether, the importance of any given ar
ticle, and thereby lessen or destroy the revenue
which. at lower rates, would be derived from its i'm
portaton Such duties exceed the revenue rates
And are not imposed to raise money for the support
pf government If Congress levy duty, for reve
hue of one per cent on given article, it will pro
luce given amount Of money 10 the treasury anC
will incidentally and necessarily afford protection Of
advantage TO the amount Of one per cent, 10 the
bone manufacturer of similar or like article oye
he importer If the duty be raised to ten per cent
will produce greater amount of money, and at
ord greater protection lft still be raised to TWEEN
y, twenty-five, thirty per cent, and IT, as Is ras
3D. the revenue derived from il is found to be in
creased, the protection or advantage will also b'
Increased but if it be raisedto thirty one per cent
nd il is found that the revenue produced at that rat
Is less han at iFtV naF NJ n