State journal & flag., 1846-08-21

consideration. It IS memorandum kindly md courteously furnished me, on the effects of reduced postage, by the honorable Sena tor from Rhode ISland-hmsef one of the most able and distinguished advocates of he tariff of ls42. He says, that under he former law, our average rate of postage was equal to IA cents 6 mills. Under the present law, 6 cents mills He estimates that at tbis rate the profits over expenses will be $l0O0OO.
 He however thinks 5 cents will be the best rate of postage, and will give revenue enough to dcfray all expenses.
 In England, he says the rate of post. age under the old law averaged per letter p cents. By the new law all letters now pay cents; and at this low rate the prof. 1 lts are three or four millions.
 l Here, Mir. President, is a reduction in one case from 22 cents 10 3 cenls; in anoh. CT from l4 cents and mills to 5 cenls
 And at that rate the gentleman from
 Rhode Island expects, by an increase of let. ters, 10 pay all the expenses of the depart ment. This is his testimony in favor of
 still greater reduction of postage, on the l principle that reduction of the rate must of necessity be followed by aa increase of letters, and consequent increase of revenue.
 And yet that honorable gentleman will contend, as s-strenuously as any man on this floor, that if we reduce lhe tariff one tenth of that amount, we will have vast falling off in the revenue. If he will concede to me m relation to the revenue one .hundreth part of what he claims in relation 10 post. age, we shall have an amount of revenue sufficient to corrupt both the Government and the people. May Heaven in it's mer- cy save US from such redundancy of rev. enue.
 But if we could find in our financial his. toiy any series of years during which rate ot duty corresponding to that fixed by this bill had been n operation, we might oblaIn the basis of tolerably accurate calculation of what we may expect under its operation. But it so ha pens, that with so much vigilance has the protective policy been guarded, that we cannot find such a basis so low. The last five years of the Compromise act are the five lowest years that can be found, and yet will lake them as the basis of calculatlon-a basis yer, much against me, because the duties were much higher than they will be for the Lext five years. The net average impor. tations for 1877, ls3s, 1859, ls4o. and l84l, was one hundred and fourteen mil lions. Now, If upon these we predicate calculation for iS47-'45-' -'40-'50 and '5l, and increase the amount by the barely pro- gressive increase of population, leaving out any allowance for the admission of Texas, or the reduction of the British Tariff, the average of lhe next five years will be one hundred and fifty -four millions, which, un. der the rates of this bill, will give Us an averge revenue of over thrty.three mill lions of dollars.
 In every aspect in which I have exam ined this question, am convinced this bill will give Us an increase of revenue and though have not been able to sustain this proposition with all the data which I could with more time have procured from the Treasury Department, stake myself on the general result, and thank the Senate for their patient attention.