The daily union. [volume] (Washington [D.C.]) 1845-1857, 1846-12-03
THE REVENUE TARIFF ACT OF 1886.

anu inc laoofs OF inc rfcsiuent anu MS eau
met. Fortunately for the country and for
themselves, they are all working men, and we
understand from those who have been long &C.
qusinted with the machinery of the executive de-
partment, and have had some opportunity Of seeing
behind the curtain, that no administration has been
more active and diligent than the present-perhaps
none as much so. This credit, at least, no impair
tal observer can possibly deny them. The "6rst
Impressions, which we uttered soon after we came
to Washington, have been confirmed by all our sub
sequent experience. No President has had more to
do-none has done more than James X. Polk. He has
had the annexation ofTexas to compete-the Or
egon controversy to ADMINISTRATORS important trea-
ties to make with the other powers OF EuroPe-and
several interesting relations to settle with the Indian
tribes No administration, since the days Of Wash
ington, has had more momentous internal questions
to carry out-the tariff, the warehousing system,
the independent treasury, &c, &c.
The Mexican war has augmented in an immense
proportion the duties Of the Executive Much ofthe
Presidents time, well Of his cabinet is absorb
ed by questions connected with war or with peace
The Secretary of State has his own important du-
ties to discharge The preparations for the cam
paign press with almost crushing force upon the
Secretaries of the Navy and War, and the bureaus
connected with their departments. The Secretary
Of the Treasury has numerous duties to demand his
attention. Among these, he has to 6nancier for the
expenses Of the war-thc warehousing system to
regulate--the treasury system, aud now the new
tariff act, TO cany out in ts details. We may truly
add, that no officer has duties to perform; but
the Secretary, with all his apparent delicacy of
frame, has nerves Of iron, quick head to execute
much work in short time, and an industry which
knows little repose and deies almost every difficult
y.
We lay before our readers in this evenings paper
another Of the productions Of his busy mind. We
have published circular after circular from his pen
and now we have the honor Of laying his important
circular before our readers concerning the new tariff
revenue act We are sure that no one will grudge
the space which it occupies in our present number.
The new revenue In rauncned upon the
country II constitutes important era in our sys-
tenn Of fnanciering. It was demanded by the char
ac,er of our free Institutions, and by the liberal
spirit Of the age ITSELF Dispensing with all
fictitious standards, with all minimums and spe-
upon the ad valorem principle. 1t would be
premature in us to expatiate upon this sub
iect and to anticipate the report from the treasury
which we shall have the pleasure of laying before
our readers in the course Of the next week;
but we do not now hesitate to say, that the
act of 1916 will be productive of as much
revenue as the treasury calculated; and that it
will not prove so ruinous to the manufac-
turing interests as the lords of the shuttle
and the politicians of panics have sought to repre-
sent it. We see no evidences of this ruin. We
hear of new cotton and other factories rising every
day, and new iron works established But this
subject is well treated in the following articles
from the "New York Evening Post" and the
"New York Journal of Commerce" that we beg
leave to adopt them as part of our article:
., w. n' From the New York Evening Post
"THE NEW TARIFF. . Sc. 3.
"This day the new tariff goes into effect. The
custom-house officers continued busy yesterday ill
an unusually late hour, in completing the business
which it was necessary to transact under the tariff Of
lS42. The custom-house remained open until about
midnight, in order to give the merchants an op.
portunty of placing their goods in the public
houses. 81. ...y.r.. .r. snAI. q o.. H."
"Mr. Clay has talked great deal of the ruin and
pecunary embarrassment which would follow the
execution of the tariff. II is now the business
of his adherents-the journalists and orators of his
party--to make good his predictions, If possible If
anything goes wrong in the markets, in the affairs
of individuals, if there is any disturbance in the
course Of exchange or If any unlucky ironmonger
speculates in railway stocks and fails, will be most
certainly imputed TO free trade and the tariff
awe are willing that the enemies of free-trade
| should do their worst in this game. The people
are more intelligent judges Of this question than they
were twenty years ago; they have tried low duties
and high alternately, and have heard both sides of
the argument, and are not to befooed at this time
Of day into the within that the more heavily they
| are taxed the better for their interests. They have
discovered that the wider the market for their own
produce the better and steader will be the prices;
| and the greater the liberty they possess in buying
mani factured articles, the more likely they to
| buy them to advantage, and Of the quality which
best suits their purposes. A lesson like this once
learnt is not forgotten by the people. Great
as the progress Of liberal views commercial ques-
tons has been among the people for two or three
years past, we confidently expect to see it still
greater for few years to come under the operation
| of the new tariff. A vehement struggle will be
made--in fact il is now begun--for the restoration
of the tariff Of 1Si2; but, in our opinion, with
little chance OF success if struggle to oh
tain charter from Congress for n national bank.
| In this question Of commercial liberty, in that
question Of national finance, the party which con-
many has lost ground with every successive contest
and the time is in all probability not far distant
when Il will require as much courage to avow ones
self in favor Of protective tariff in favor Of ma
tional bank"
From the ~ Y Journal OF Commerce.
"TsE pxsMNrNo or RUIN.--To-day we launch out
upon the sea Of free trade Many Of the old pilots
say the water is shallow, the currents resisess, and
The shore nothing but rocks. Others say that the
IN, Nter is deep and calm, the wind favorable, which.
sv.r way you may be sailing, the harbors good, and
The m, tkels both for buying and selling, the best
in ,be w Md. They say that most of the difficulties
81 ~. nav ysdon caused by the bars which have
been built, an the bulks which have been sunk by
nro,.c,;nn, ,b..' in fact, all the attempts which
baye been mads 20 improve the navigation, have
univ made The matte worse. But TO dispense with
the n ocean figure, tn tariff Of is4s goes today
into operation, The p. 'ophets have spoken OF its
larations not as matter Of personality or figure,
but for the enlightenment ofth,' public mind, and
i;,;..i .oonomv NJ 4 .wrenre Of Boston has