Portage sentinel. [volume] (Ravenna, Ohio) 1845-1854, 1845-12-10
will soon be able to proceed on his IN i.

t=-Unforlunaiely, differences continue ,o
exist among some oflhe nations ofSo,,h
America, which, following our exarnoi
have established their independence. q.
while 10 others internal dIssentions pre.
vail. lie is natural that our sympathies
should be warmly enlisted for their vel .
fare; that we should desire that all CON.
troversies between them should be ami
cabiy adjusted, and their governments 8
administered in a manner to protect the
rights and promote the prosperity oftheir
people, 1t Is contrary, however, to our
settled policy, TO interfere in their con-
troversies, whether external or internal
have thus. advered to ali the subiec "a
connected with our foreign relations. 10
which deem 1T necessary to. cal; your at
lention.' Our policy is not only peace, with
all, but good will towards all the Powers Of
the earth. While we are just to all, we re-
qure that all shall be just to US. EXCEPTING
the difference with Mexico and Great Britain
our relations with all civilized nationsnre of.
the most satisfactory character 1t is hopeh
that in this enlightened age thsse differences
may be amicably adjusted: - y g-.- g9F
The Secretary of the Treasury, .io his All
nual report to Congress, will cSinmunicate a
full statement OF the condition Of our
finances. The imports of the fiscat
year eniing on the thirtieth of June last
were of the value of one hundred and seven.s
teen millions two hundred and ifty-fou thous.
and tive hundred and sixty four dollars. of
whchthe amount exported was fifteen mills
ions three hundred and foEty-six thousand
eight hundred and thirty dnlars--leayina a,
balance of one bundled and one million nins
hundred and seven thousand and seven hun.
dred and thirty-four dollars for domestic co,i-.
sumption. The exports 70. the same wear.
were of the value OF one hundIed and fourteen
millions six hundred and forty. six thoasa,sH !.
six hundred and six dollarss of which the q.
mount of domestic articles was ninety.nina
millions'tw hundred and ninety -une thous.
and seven hundred and seventv-six dollars.
The receipts into the treasury during the
same year were twenty y-nine millions seven
hundped and sky nine thousand one hundred
and thirty three dollars and, fifty six cents:
of which, there were derived from customs.
twenty seven millions five hundred and twen-
ty-eght thousand one hundred and twelve
dollars and seventy cents; from sales of pub-
lie lands, two millions seventy -seven thous-
and and twenty two dollars and thirty cents:
and from incidental and miscellaneous sources.
one hundred and sixty-three Thousand nine
hundred and ninety eight dollars ard fifty-six
cents. The expenditures for the same period
wc:e twenty nine millions nine hundred and
sixty eight thousand Two hundred and sir
dollars and ninety.eight cents. of which,
eight millions five hundred and eighty eight
thousand one hundred an fifty seven dollars
and sixty>two cents were applied to the nav.
ment of The public debt. The balance In the
treasury Oh the first of July last, was seven
millions six hundred and fifty eight thousand
three hundred and six dollars and tweni y-two
cents.
The amount of public debt remaining unpaid on
the First of October last, was seventeen millions
seven,y.fve thousand four hundred and forty fiyo
dollars and fifty two cents. Furth, payments Of
the public debt would have been made, in autici
patton OF the period of its reimbursement under
the authority conferred upon the Secretary of the
Treasury by the acts of July twenty first. 1871.
and Of April 18Th, lS42, and March third IS43,
had not the unsettled state of our relations wIsh
Mexico menaced hostile collision with that pow.
cr. In view OF such contingency it was deems
ed prudent to retain in tho treasury an amount
unusually large for ordinary purposes.
few years ago, our whole national debt grow.
ing out of the Revolution aud the war Of 1912
with GREAT Britain was extingulshed, and we pI
sented to the world tho rare and noble spectacle
OF great and growing people who had fully dis
charged every obligation. Since that time tile ex
sting debt has been contracted, and small 4,
it is, in comparison with the similar burdens ci
most other nations, should be extinguished a,
the earliest practicable period. Should the state
of the country permit. and especially, if our for
eign relations inferpose n OBJ taclo, il is conten
plat ed apply all the moneys in the treasury as
they accrue beyond what is required for the ap>
propriations BY Congress, its liquidation
cherish the hope ofsoon being ablc 10 congratu,
late the country on its recovering, once more, Tie
lofty position which it 80 recently occupied. Gu,
country, which exhibits TO the world tho benefit,
Of self government, in developing all tho source
of national prosperity, owes TO mankind the per
manent example of a nation free from tho blight
ng influence of public debt.
The attention of Congress is invited 10 the ir
portance of making suitable notifications and re
ductions ofthc rates of duty imposed by our pesen
tariff laws. The object of imposing duties on in,
ports should bc to raise revenue to pay the neces
sary expenses of government. Congress NAV I'M
doubtedly. in the exercise Of a ,und discretion
: discriminate in arranging the rates Of duty O.
It different articles; but the determinations sholl
n be within the revenue standard, and be made wit
If the view to raise money for the support of gov
ernment.
1t becomes important to understand dis:
: : tinctly what is meant by revenue stand
= ard, the maximum of which should moi be
, exceeded in the rates of duty imposed. I,
: issconceded, and experience proves; fha,
y duties may be laid so high as to diminish,
. = or prohibit altogether, the importation oi
u any given article, and thereby lessen, OF
! destroy the revenue which, at,lower:rates,
!. would be derived from its, impof,atiqn.-
Such duties exceed the revenue rates; and
are not imposed to raise money for the sup.
: port of government. If Congress levy {,
} duty, for revenue, Of one persct ON civ.
en- amount Of money to the treasury. anc
"a will incidentally and necessarily afford pro-
e lection. or advantage, to the amount of one
IL per cent to the home manufacturer of a
.P similar or like article over the importer.
Is If the duty be raised to ten per cent it will
!" produce q greater amount of money, and