The Charlotte journal. [volume] (Charlotte, N.C.) 1835-1851, 1846-07-31

We shall soon get tired Of this un,fiedex.
pertinent. am mol for any hot.hoosa
siIinaloas TO industry, and | admit tina,
true policy requires tina, legislative pro.
lection should be couined, III wise dis.
elimination, 10 such productions as our sit.
uailon, capital, and resources enable Us 10
make successfully TO supply the wants Of
the country.
On the 30th Of August, 1912, Congress
passed tariff law now IN force. This bill
proposes to repeal il. Is this proposed
change right Nothing can be more per.
niclous TO the labor and capital Of tho coun-
Try than this yacillating poIicy-this con.
slant fiuctuation both IN the trade of the
country and the revenues Of the Govern.
ment. do not pretend To say that the
act of 1912 is perfect or that it should
be, like the laws Of the Medes and Per
slams, unaierable. II it be imperfect, as
II doubtless Is, lei il be amended in such
particulars as experience may have indica-
ted as necessary. Let il be amended ia a
proper way and on thorough examination,
and not at the instance and upon The state
ments Of British importers and their
gents. The regulation Of a tariff Of duties
IS necessarily complicated and one of great
difficulty. 1t is question Of facts aud de.
tails, ramlfying themselves through every
Interest Of society. We never have, and,
in colnIry like ours, Of such diversified
pursuits and interests, we never can pass
any general tariff law which will give sat.
lsaction to all The thing is impossible.
Our true course is to come as near this
end as possible. ! hovo freely admitted
that the existing law might be wisely a
mended. | should Ike 10 sec that indis.
pensabe necessary If life, sqlt, made duty
free. The duties and miuimums on coarse
domestics might be lowered, if not entire.
Iy abolished 3; and on raw cotton, the duty,
which was once important but now useless,
might well be abolished altogether. By
this course we should wresi from the hands
Of demagogues instruments by which they
are constantly trying TO deceive the peo-
pie. There are other instances in which
the act Of 1872 might well be amended
and the free list might be decreased. But,
in the man, that law had operated well
and, after ali, experience was the best
teacher it is worth all your theories.
The act Of 1912 had completely reiuted
the predictions Of its enemies and fully re.
allied the best hopes Of its friends. Under
It's operation the country vas prosperous.
Under what circumstances had that act
been passed need not dwell on what all
must SO well remember. The objects OF
that law were 10 raise sinking revenue
to restore the public credit 10 pay the
public debt and liabilities and last, though
not least, to give incidental protection TO
interests essential to our national welfare
and independence. Towards the close of
the operation Of the celebrated compro-
mise act of 1888, the expenditures con.
stantly exceeded our income. Even be.
fore the reduction had reached the lowest
point CT twenty per cent. Ii had utterly
failed to produce the necessary revenue.
This fact is admitted by the most ultra
free trade men. Yet gentlemen are for
returning, not gradually, bu. suddenly 10
the same system. Who can believe tina,
the bill before US will raise sufficient reve-
: nue. for the wants Of the Government
Curtail your expenses abandon your mag
nifcent scheme of internal Improvements,
passed by this Democratic House, under
the name Of the harboI and river bill re-
duce your annual expenditure 10 seventeen
millions, and perhaps then 40 average rate
Of twenty five to thirty per cent. I'D valo'
rem may prove sufficient. But, sir, does
any one here believe that this reduction
: will be brought about? We must legis
late for an existing state Of things. The
expenditure of The Government, instead OIL
being restricted 10y economy to seventeen
: millions a year, amounted on an average
TO near twenty-six millions. 1t has stood
at that rate for years past. Il will be in.
creased. The acquisition of Texas and
the establishment Of new Territorial Gov.
ernments, the most expensive appendages
of your Government, and the necessary en-.
iargement of your army and navy, will en-.
hance your expenditures. They will be
from twenty-eight to thirty millions per
annum. | do not speak of state of war
but of a peace establishment. The gen.
tleman from New York (Mr. IIungerford)
has demonstrated, by most searching an
alysis, that this bill will not produce moro
than seventeen millions nett revenue in q
time Of peace, and less in time of war.
How shall we supply the deficit ! Shall
we resort to loans or Treasury notes l
fear they will soon again become fashion
able. With the aid OF the Little Tariff
; Bill" as it was called, passed in ls4l,
which my colleague, now before me, Mr..
Graham well remembers, the cOmpro-
mise act still failed TO raise The necessary
income 1t sank to less than thirteen mil
lions n year. The Treasury was empty
the Government bankrupt--and general
ruin stared US in the face. Experience
spoke with a voice that could not be mis-
taken. The compromise act empted the
Treasury The tariff Of 1912 filed it. The
compromise act Frustrated the credit OF
/ the Government the act of 1912 restored
/ 1t. Who does not remember with blush
Of patriotic SHINE the low point to which
the credit of our nation had been BROUGHT
How your Government scrip was hawked