The Arkansas banner., 1846-12-23


 existing law, the sYsem will probably be permanent and capitalists who have made orshsli hereafter make, t tfeir nsestmtbts ia manufactures, will Know upon ! what to rely.
 The country will be satisfied with these rates, be. csnse the advantages which the manufacturers still enjoy result necessarily from the collection of rsvenne f0 the support of government. High protective dutes from heir unjust operatien upon inc masses of the penpie aii give to extensive dssatisae- ton and complaint, and to constant efforts to change os repeal them rendering all investments in nanufac tares unreEiain and pfec&fious Lower and more permanent of duty, at the same lime that they will yield the manufacturer faiF snd Femunersting pro6ts will secure him against the danger of frequent changes in the system which cannot iail to runeRsly | affect his interests.
 Simultaneously wi.h the relaxation 1.-the restrictive policy ny the UnIted States Great Britain, from whose exampiewe derived lhe system. has relaxed hers Sbe hos modified her corn laws, and reduced many olhfr duties to moderate Teyenpe rates. After ages o per,ence the of that country hnve been con strained by q stern necessity, and by public opinion having it's deep foundation tn the sperings and wants of impoverished millions, 10 abandon a system the effect of which build up fortune the hands ofshe few. and to reduce the lAbarng millions ! 10 panpeism and misery. Nearly in the same ratio ] that labor depressed capital increased and Aconceuirated by inc BHtish protective policy. The evils h ihe system m Great Britain were al length rendered nt0fabe. aud il has been abandoned, ] but not without a sevsrs struggle on the part of the protected and favored classes retain lhe unjust ad- vantages which they have long enjoyed. l. was To be expected that smilar struggle would be made by the same classes in the Unitsd States, whenever tempt was made 10 modify abolish the same unjust system here. The protective policy had been o2er. ation In he United States fer much shorter poried, and it's potnicous effects not therefore clearly l perceived and fell Enough, however, was known of these effects io induce it's repeal.
 would be strangs if, in the face of the example of Great Bri'en, our principal foreigo costemet and of the evils of system rendered manifest in that country by long and painful expelencc and in he face of the immense advantages which, undeI more liberal com mcreial policy are already deriving. and must con
 nue L, derive, by supplying her starving population wih food, United States should restore policy which she has been compelled abandon and :hus diminish her ability Co purchase from the faod and other ticles which she 90 much needs, and so much de l sire 10 sell.
 I By the simultaneous abandonment of the protective pelcy by Great Brtain and inc Uniled States, and important markets have pready been opened for our dgrcn ural and other product; and naysga. lion have received impUis labor and trade have been released from the artificial trammes which have so long t,ered tem and great extent reciproci- ty in Le exchange e commodities has been iniroduc. cd al the time by both countries and greatly for the benefit of both. Great Britain has been forced, by Inc pressure of circumstances at home to abandon policy which has beea uphe for ages, and to open her markets 10 the imeuse surplus of bread .suiE and II IS confidently believed That other powers of Europe
 
 ed hy he paupersm and ue,ing of their crowded Do. puaitan 10 puIeue . similar policy
 Our farmers are more deeply interested in maintain. ing the just and liberal policy of the existing law than any other class oI our citizens. They constitute a large majority 0 our population; and 1t IS well known that ~honihey prosper all other pdrsnis prosper also. l They have therefore not only received of the bedniies tavofs of government but, by the unequal opernions o the protective policy have been made, by the bu dens of taxation which impdsad 10 contribute n q pfipsx xph h h3Va hsd
 When a foreign well a home market is opened 10 them, they must receive, they receiving. increased prices for their products. They will req. dler sae and al better Piees for their wheat, onr.
 rice Indian corn, beef pork, lard butter, cneese and other articles which they produce The home mark. ct al me is insdeq enable them dispose of the immense surplus of food and other articles which they capable Of producing, eye the reduc. ed prices. for ihe manifest hGl they cannot be consumed in the country. The United States can, from their mu9nse surplus. suppy only the home demand. but the deficiencies of food required by the whole world.
 , That the reduced production of some of the chiei articles of food m Great Britain. and other parts Europe, may have contributed increase the demand for our bTeadsiuits and provisions s doubled but that the great and efficient of this increased de. mand, and of increased pfiees consists in the ol artificial restrictions heretofore imposed is deemed to be equnlly certain. That exports of food al. ready Increased and increasing beyond former exan. pie, under the more liberal policy which has been adopted will be stll vastly enlarged unless they be checked or prevented by restoration of the protec- f tive policy, cannot be doubted. That commercial and navigating interests will be enlarged in cores bonding ratio with the increase ot our irade is equally certain; while oar manufacturing interests will stili be me favored interests ot The country, and receive ihe incidental protection afforded them by revenue duties and more tlIan this they cannot justly demand. In my annual message of December last tariff of revenue duties based upon he principles ol the exist. | ing law was recommended; and have seen reason to change the opinions then expressed In view of ihe probable beneficial effects of that law recommend that the policy established by il be maintained. It has ] hui just commenced to operate; and to abandon or modhy II without giving it fair trial. would be inc pedent and unwise. Should defects in any of it's de.
 tails be ascerianed by aeina experience exsi iheee may be hereafter corrected but until such defects sha become manifest, the act should be fairly tested h is submitted for your consideration whether it may not be proper. as . war measure, impose Teye nue duties on some of he articles embraced in the free is' should il be deemed proper to impose such dunes, with view to raise revenue meet the e. h Fenses of lhe with Mexico, or to avoid to tha exient the creation of public debt, they may be re pealed when the emergency which gave rise to them shall cease 10 exss and constitute part of the per manen policy of the country.
 The act ef the sixth of August last Ito provide fo the better organization of the treasury, and for tho colleeuon sate-keepng, transfer, aud disbursement the public revenue" has been carried into execulior as rapidly as the delay arising of Inc apponmen oi new officers, taking and approving their bonds, preparing and securing proper places for the safe keep ing of the public money would permit. IL is not pro posed to depart m any respect from the principles !, policy on which this gTea, measure Is founded. s There are, however defects in the details of tn, measure, developed by it's practical operation whcl are fully set forth in the report of the Secreay of bs Jrensury, 10 which inc attention of Congress Is invited U These detects would impair to extent the sue cessiu operation al ihe law all times but ate espe eially embarrassing when he country is engaged in war, when tho expenditures are greatly increased when loans are 10 be effected and inc disbursement are to be made al points many hundred mss distant m some eases, from any depository md large DOT