Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1846-12-11

which NAV al any lime be in the treasury aPph-
cable 10 that purpose. After The esta olishmeh'
of peace with Mexico, it is supposed that con-
siderable surplus will exist and thalthe deo' may
be exinguished in uch shorter peiioo ll.dn
that for which il may be conlraced. Inc Peilou
| of twenty years as that Tor which the proposco
loan may be contracted, in preference 10 snor''
er period, is suggested, because all experience,
both al home and abroad, has shown mat loans
are effected upon much better terms upon long
time, Than when they are remDuTsaole ID Shoi'
dates.
Necessary as this measure is TO sustain the no.
nor and the interests OF The country, engaged 10
foreign war, il is not doubled but that Congress
will Promptly authorize ii. ,,.
The balance in the treasury on the Isl OF July
last exceeded nine millions Of dollars, nolwiin-
Standing considerable expenditures had been made
for the war during The months oil May and June
preceding. But for lhe war; The whole puoHc
deb, could and would have been extnSulsheu
within short period; and il was part oil my
settled policy 10 do so, and thus relieve Inc people
from ills burden, and place the Government IN a
position which would enable it to reduce the pun.
lie expenditures 10 that economical standard
which is most consistent with The general welfare,
and the pure and wholesome progress oil our IN
! siuiions.
Among our just causes Of complaint against
Mexico. arising out of her refusal 10 treat Tor
peace, as well before as since The war So I'M
Justly commenced on her part, are the ex,raordi-
nary expenditures in which we have been in-
voved. Justice 10 our own people will make II
proper that Mexico should he held responsible for
these expenditures.
Economy in the public expenditures is AT all
times high duty, which all public functionaries
OF The government owe TO the people. This duly
becomes The more imperative in period oil war,
| when large and extraordinary expenditures be-
| come unavoidable. During The existence oil The
! war with Mexico all our resources should be hus-
banded and no appropriations made except such
as are absolutely necessary for lis vigorous prose
| culion and the due administration oil The govern
ment Objects Of appropriation, which in peace
| may be deemed useful or proper, but which are
not indispensable for the public service, may,
when the country is engaged in foreign war, be
we'll postponed 10 future period. By The observ-
ance Of this policy al your present session large
amounts may be saved 10 the treasury, aud be APP
piled 10 objects Ut pressing and urgent necessity,
and thus the creation OF corresponding amount
OF public debt may be avoided.
Il is mol meant to recommend that the ordinary
and necessary appropriations Tor The support Of
| Government should be withheld, but il is we'll
known that att every session oil Congress approprla-
lions are proposed for numerous objects which
NAV or may no, be made, without materially al
IeCtIUS Inc puUliC uiSSc ~ - 'SSoiA'
ulended should not be granted
The acl passed al your last session reducing
the duties on imports" not having gone into ope-
ration until the first Of The present month, there
has moi been time for IFS practical effect upon he
revenue, and the business Of The country, 10 be
developed. II is mol doubled however, that The
Just policy which il adopts will add largely Ia our
foreign Irade, and promote the general prosperity.
Although il cannot br certainly lureseen what
amount of revenue il will YIELD il is estimated
that il will exceed that produced by the act Of
1912, which il superseded. The leading princi-
plies established by il are, 10 levy The taxes with
view To raise revenue, and 10 impose them upon
the articles imported according to their actual
value
The act OF IS42, by the excessive rates of duty
which il imposed on many articles, either totally
excluded them from importation, or greatly re-
duced The amount imported, and thus diminished
instead OF producing revenue. BY il the taxes
were imposed not for The Legitimate purpose OF
raising revenue but TO afford advantages 10 Ia
vored classes, al The expense Of large majority
OF their fellow citizens. Those employed in ag-
rcullure, mechanical pursuits, commerce, and
navigation were compelled 10 contribute from
their substance 10 swell the profits, and oveIerown
wealth OF the comparatively few who had invest
ed their capital in manufactures. The taxes
were not levied in proportion 10 the value OF The
articles upon which they were imposed; bu',
widely departing from This just rule, the lighter
taxes were in many cases, levied upon articles
oil luxury and high price, and The heavier taxes
on those al ne e>>iiy and law price, consumed
| b. thr q eai mas Of The people II was sys-
,ein, The inevitable eiltcl ui which TO relieve
favored classes and the wealthy lew from conlri-
bung their just proportion for The support oil
government, and 10 lay The burden on the labor
OF The many, engaged in DINER pursuits than man.
ufaciures.
A system so unequal and unjus, has been SUI
perseded ~ the existing law, which imposes du-
lies for The benefit injury Of classes or puT-
suits, bul distributes, and as far As practicable,
| cqualiIcs The public buri,ts aInaug all classes
and &C, upat;cns. Fh" iieoicd Classes, who un-
! der the unequal and unlu>; system which has
been repealed, have heretofore realized large pro-
fits, and many Of them amassed large fortunes. at
| The expense Of the many who have been made tri-
butary 10 them, will have no reason TO complain
| il they shall be required 10 bear their Ius propor-
ton OF the taxes necessary for the support Of &C.
vernmen So far from it, il will be perceived, hy
an examination Of The existing law, that discrl
limitations in the rates OF duty imposed, within
the revenue principle, have been retained in their
favor. The incidental aid against foreign COM
petition which They still enjoy, gives them an adj
vantage which no other pursuits possess; but of
this none others will complain, because the duties
levied are necessary for revenue. These reve-
nue. duties, including freghts and charges, which
the importer must pay before he can come in
competition with the home manufacturer in our
markets, amount, on neary all our leading
branches Of manufacture, TO more than one-third
of the value OF The imported article, and in some
cases to almost one-haf ils value. With such adj
vanlaees, it is not doubled that our domestic manu-
features will continue 10 prosper, realizing in we'll
conducted establishments ever greater profits than
can be derived from any other regular business
indeed, so far from requiring the protection OF
even incidental revenue duties, our mannfactu-
rers in several leading branches are extending
their business, giving evidence Of great insenui-
ty and skill, and OF their ability 10 compete, with
increased prospect OF success for the open mar
kcr OF The world. Domestic manufactures, 10 The
value Of several million OF dollars, which can
not find market al home, are annually exported
10 foreign countries. With snch rates OF duty as
those established by the existing law, the system
will probably be permanent; and capitalists, who
have made, or shall hereafter make, their invest
,nents in manufactures, will know upon what 10
rely. The country will be satisfied with these
rates because The advantages which The manu-
tacturers still enjoy result necessarily from The
collection Of revenue for The support of Govern
menr. High protective duties from their IN usl
| operation upon The masses OF The people, cannot
fa 10 give rise to extensive dissatisfaction and
complaint, and 10 constant efforts 10 change or re-
peal Them, rendering all investments in manufac-
lures uncertain and precarious. Lower and more
permanent rates OF duty, al The same time that
they will yield TO the manufacturer fair and re-
muneratins profits, will secure him against the
danger of frequent changes in The system, which
cannot fail to ruinously affect his interests
simultaneously with the relaxation Of the re-
strictive policy by the United States, Great BTi-
tain, from whose example we derived The system,
has relaxed hers. She has modified her corn laws,
and reduced many other duties 10 moderate reve-
nue. rates. After ages Of experience, the slaeS-
men Of that country have been constrained by a
stern necessity, and by public opinion having
its deep foundation in The suff-rnss and wants Of
Impoverished millions, 10 abandon system The
effect of which was TO build up immense fortunes
In The hands OF the few, and reduce the laboring
millions to pauperism and misery Nearly in The
same ratio that labor was depressed, capital was
increased and concentr ated by the British protec.