The daily union., 1846-06-25

able. we nave feau IL WIN no small surprise. II
we mistake not, the country will regard it with
equal sstonishment and regret-asto onshment thai
Mr. Webster should have ysntured to peril his rep.
uaton on such propositions; and regret that in the
discussion OF such a subject he should have per
mltIed spirit OF partisanship close his eyes to
that duty which sdemanded by the interests and the
honor Of the country. Mr., Webster has explained
his views as to the mode Of bringing the war to a
elose and as to the proposed financial provision for
prosecuting it. We have word to say of Mr..
Webster's positions upon both these points. And
first, as TO
The FINANCES
Mr.. Webster presents several objections to the
financial scheme Of Mr.. Walker.
l. He cannot tell how the varehousing SYSTEM
as proposed by Mr.. Walker, will eventually in
the revenue one million Of dollars per
The imports, by Mr.. Walkers scheme, would re-
main on hand several years u0iihOut interest the
duties, or payment Of lhem until consumption or ex-
porIaton, not only the sesboard but in all the in
terror ports which would largely increase the intro
duclion, diffusion, and consumption Ofsueh IMPORTS
and if the increase only amounted to the moderate
estimate Of Ave millions per snnum, at an average
duty Of twenty per cent, it would yield tho estims-
ted revenue ofcne million Of dollars.
The reasons on which is grounded the opinion
that the warehousing system would increase the
revenue are stated as follows by Mr.. Walker in his
annual report
"The imports before payment Of duties, under the
same reg gulaIions applied TO imports IN tran.
sit TO Canada, may be taken from warehouse to ware
house-from the East TO the lakes and to Pitisburg,
Cincinnati, and Lousville-from New Orleans TO
Natehez, Vcksburg, Memphis, and ST. Louisiana
varehoused in these and other interior ports, the
duties remaining unpaid until the goods taken
out Of the warehouse, and out Of the original pack
age, at such ports, for consumpton-thus carrying
foreign commerce into the interior, with oil the
advantage Of augmented business and cheaper sup
plies throughout the country. IL will introduce
into large ports near the sesbosId assorted
cargoes Of goods, 10 be re-exported with our own
TO supply the markets Of the world. IL will cheaper
prices to the consumer by deductng the interest and
profit that are now charged upon the advance Of
bodybuilding up the marts Of our own commerce,
and giving profitable employment to our own com
merclal marine Ii will greatly increase our revenue
by augmenuDg our imports, together with our ex-
ports; and is respectfully recommended to Congress
important part Of the whole system now pro-
posed for their consideration"
This reasoning appears strong, and notwithstand-
ing his great and acknowledged ability, Mr.. Web
ster has failed to refute il.
9. The increase Of half million per annum ofI
revenue, as estimated by Mr.. Walker, from the re-
ducton and graduation Of the price of the public
lands, is doubted by Mr. Webster. Mr.. Woodbury.,
when Secretary of the Treasury, expressed an
opinion concurring with Mr.. Walker. The ground
for this opinion is thus stated by Mr.. Walker in his
annual report:
"The price at which the public lands should be
sold is an important question TO the whole country,
but especially to the people Of the States, living
mostly remote from the seaboard, and who have
scarcely felt the presence Of the government In local
expenditures but chiefly in the exhaustion Of their
for purchases Of public lands and for customs
The public lands not Of the same value; yet they
are all fixed at one unvaryng price, which is far
above the value OF large portion of these lands.
The quantity now subject TO entry at the min |
imum price Of 81 25 per acre is l33,307, 457
acres, and l09 ,035 ,345 in addition, to which |
the Indian title has been extingushed-being |
an aggregate OF 242 342 602 acres, and requiring a
century and quarter to complete the sales at the |
rate they have progressed cretofore-viihou, in
Guiding any OF the unsold lands of Texas or Ore
gon, or of the vast region besides, to which the
Indian title ia not yet extinguished 1t is clear then
that there is vast and annually increasing surplus
of public lands, very little of which will be sold
within any reasonable period at the present price
and in regard to which the public Interest would be
promoted, and the revenue augmented, by reducing
the price"
Mr. Webster has not refuted this reasoning; and
if he cannot, who CAM Indeed it seems almost
self.evident proposition, that the reduction of the
price Of refuse lands, which will not bring the pres
ent price, must augment the revenue from that
source.
Mr. Webster seems to approve the proposed loan
and treasury notes. but regards the latter as incon
sisent with the constitutional treasury When that
measure was proposed in 1887, and adopted in 1910,
no such Inconsistency was found to exist. Treasury
notes. according to the opinions Of Jefferson, Madi-
son, and Galatn, one of the great resources for
,car, and perhaps ought to be confined to that emer
gency. The expenditures Of the government, so far
as ascertained at the treasury are only about one
third the amount per day estimated by Mr.. Webster.
There is truth, however, in the remark that treas
ury notes and loans could be negotiated at
much better rate now, when the surplus is large,
than few weeks hence, when it may nearly have
Disappeared and consequently the sooner this bill
is passed, the better.
Mr. Webster expresses no dsapprobation Of the
proposed duty, war duty, on tea and coffee, but
thinks the duty must be specific. Why so, any
more than the numerous ad valorem duties now
imposed many imports from Asiai The duty
is not assessed the foreign invoice, but on the
actual foreign market value, to be ascertaned in the
mode prescribed by the tariff Of l642; and if the
invoice is less than this, as appraised here, by ten
per cent, the importer pays an additional duty of
fifty per cent. The importer, purchasing abroad,
and the retail merchant at home, find no difficulty
in ascertuinng the foreign market value, and our
merchant appraisers and public officers find no en-
barrassment in aseortaning the foreign market val
ue, and assessing the duties accordingly. By the
tables of actual imports Of last year, accompanying
Mr.. Walkers report, the duties actually realized
that year on the ad valorem rates exceeded those
raised by the specific duties s2,522,9 900, notwth-
standing the average specific rate Of duty was
40 SO, and the nd valorem 2707; and notwithstand-
;ro 81, tha Inv ucb cnrits cnrliala