The daily union., 1846-10-31
THE REVENUE PRINCIPLE.

The democratic party support the tariff Of 1876
The federasts nail upon their flag the tariff of ls42
Mr.. Webster gave out the cue word, in the Senate
chamber, of "Repeai" Mr.. Clay declared the other
day at his own freside ESQ says the correspondent
Of the "North American') "let your cry be RES
roRArIoN One C42) is a positive good, which the
people have felt--the other will as surely prove
positive evil which they have yet to realize"
In other words, the tariff of ls42 runs up the dv-
dends of the rich manufacturers 20 or 30 per cent
The other reduces their gains one-fourth, and
times one-half One compes the farmers to purchase
their cloths and iron at enormous prcethe other
whether purchased at home or abroad, on more
moderate terms. The last act 46) takes less out Of
the pockets of the farmers, and puts less into the
pockets Of the lords Of the loom. And this s what
Mr.. Clay would call "Positive evil"
The tariff Of l842 is tariff principally for prosee-
hon--the last is tax for revenue. The former
taxes the consumer enormously under fictitious
minimums, and unequal specific duties. The tariff
Of 1916 lays the duty according to the value Of the
goods--the true principle Of taxation (Which Mr.
Clay himself once advocated as the true course)--
and abolishes minimums and specific duties. The
duty is still sufficient to extend considerable
protection incidentally to the greatest number
Of manufacturer sufficient for all. This,
however, Mr.. Clay would nov contend to be a
'posisics ssiI" and calls out for restorationp Has
the tariff produced any ruin to the manufacturer !
None. Has it extnguished the fire Of the forges,
or Arrested the revolution of the .wheell No On
the contrary, the factories are still going on, and
making money; and new manufactures arc rising
in all directions. Indeed, the impression in now
becoming common that the present duties are
too high, rather than too low. Yet, the infatuated
manufacturers will cry out for Restoration, and
"repean and the federal politicians Of Massachusetts
in their recent convention denounced the new tariff
bill as ''adopting new and vicious principles in
our revenue system, and is portentous experiment
threatening disturbance and injury to the great inter-
ests Of the country"
Ia this truei The Boston Post with it's sccus-
toned ability, joins issue with the protectionists,
and refutes their allegations We adopt its argu-
ment, as follows, ao8
"The new and vicious principles are the I'D valo-
rem principle, (tbat is taxation upon value instead
Of specific taxation on articles without regard to
value) and the doctrine that revenue shall be raised
sufficient to meet the expenses Of the government,
and not merely to give bounties to particular occo-
petous and investments, without regard either TO
prohibition which shall put an end TO revenue, or
excessive tax that shall enhance prices and pro-
duce surplus revenue by indirect taxation, to be
exacted from the people and distributed among the
States.
"Both these principles are as old as the formation
Of the government. One Of then--the sd VA orem
princpe-has run through every tariff that has been
enacted since the adoption OF the constitution. The
tariff Of 1915, which is claimed the original pro-