The daily union. [volume] (Washington [D.C.]) 1845-1857, 1846-11-27
EXTRACT FROM THE MESSAGE OF GOV.
ToUCEY, OF CONNECTICUT,
MAY SESSION, 1876.

country viii not discern and believe that tariff of
duties is but list of taxes, as mueh'so as n they
were paid TO legal officer at the heel Of a tax war
rant OF that the policy OF high taxes can ever be
fayorile or popular policy with the great body Of
the peoples or that they should be willing that taxes
should be levied upon them which do not 90 into
the public treasury, but into tho pockets OF partc-
uar class for the purpose OF sustaining the business
OF thai class These propositions, II Is believed,
too clear and manifest 10 be brought into doubt
question by any person Of ordinary intelligence,
whatever his wishes may be. Oh the other hand,
also, there propositions equally clear, and the
policy Of protecting our home interests 10 just
and reasonable extent, viewed 10 lis true ght may
| be placed upon solid and permanent grounds, which
may safely defy the utmost power Of reason and ar
gument TO overthrow theal. Hs. .t..
"The people Of this country must pay taxes 10
| the amount Of twenty-five millions OF dollars an-
nually, for the support Of government That amount
must be paid into the NATIONAL treasury; and IL nauat
be paid, ID some form, by the people IL Is not
question Of policy or political science, whether these
taxes shall be paid but matter Of unavoidable ne
cessiiy; and if they are wanted, doubtless they
are, for the economical administration Of the gov
eminent, the people are willing, and ever will be
willing, TO bear them, great as the sacrifice may be.
BY universal consent these taxes are levied upon
foreign imports; and ifthey are levied by a strictly
revenue tariff, upon foreign articles which come IN
competition with those Of our own growth and man
ufacture, then home Interests have incidental
protection advantage TO the extent Of twenty-five
millions Of dollars annually. This protection or
advantage is, beyond all doubt amply sufficient for
all the great interests Of the country an any manner
dependent upon tariff Of duties. Here Is solid
ground to rest upon. Here is a permanent basis for
permanent legisahon-at least for permanent
course OF poliey-whieh will insure as much sta
bty TO this branch Of legislation the nature Of
the subject will admit, and will have a powerful
tendency to guard against those sudden and requen,
Legislative vacllntions from which the dependent
interests, at all times, suffer so deeply BY pro-
curing tariff Of duties ad justed upon this basis
interests will be secured. By pushing beyond this
point Of incidental professionally pressing for Ia
rf which 10 not, in its essential features, revenue
tariff, or for duties which are prohbitory, or may
he justly said TO psrtake largely OF that character
we put in imminent jeopardy the otherwise attaina-
bic Interests Of the manufacturers and all others in
| a like condition. col
III shall not enter into the question, whether any
greater practical modification Of the principle Of free
trade than tax oftwenIy-hve millions upon foreign
imports, or whether any greater diversion Of capital
and labor than would be produced by It from the
employments which they would otherwise seek as
most profitable, would or would not be, upon the
just principles Of political science, nythng but evil
But there Is great and obvious objection to a duty
not laid for revenue, but which is laid for pro-
lection by virtual prohibition or excusion-totnl
perhaps, Of the article taxed--which cannot, and
ought not to be overlooked; namely, that the tax
does not go into the public treasury, bat into the
hands Of the benefited class while the people, hav-
ing once paid it, taxed over again TO supply the
amount thus secretly diverted from its proper des-
unation This objection, whenever il applies, seems
| ansuswerable. The proceeding is an unjust one
and needs only 10 be detected in order to be con.
demned. Such an undue advantage by legislation
ought not to be sought by us over our eountrymen
in whatever part Of the Union their lot may be cast
nor should we be likely to succeed in obtaining it
AFTER public attention had been attracted as il has
been most fully, to the subject And pertinacious-
ly TO persist IN hopeless and proftless attempt to
gain this advantage, " there be anything else to be
gained or lost, is not the dictate Of sound policy.
ultimately connected with this subject il, the
| great constitutional measure Of the independent
| treasury. The bill has already passed the House
of Representatives of the United States and is now
| before the Senate. The subject has been 30 fully
presented to the public mind, and the public mind
10 clearly expressed in regard to IT, that shall NOT
discuss its merits | cannot express in too strong
language the warmth ofmy appreciation OF this great
measure, az necessary 10 restore to efficient opera
ton part Of the constitution which had fallen into
neglect, and been trampled under foot by which the
public money is to be placed in public treasury,
and kept there until 1t is appropriated by law to the
constitutional purposes for which il was drawn from
the people-es necessary to exterminate that per-
noious abuse, by which the whole contents of the
treasury handed over to banking institutions to
be loaned out for the profit of stockholders and the
accommodation Of borrowers-as necessary TO give
efficiency to that most important power of Congress-
TO regulate and control an otherwise unchecked
paper currency, by coming money, uphoding its
circulation, and fixing and maintaining the true
standard Of vsue--as necessary, at least having
| most powerful tendency, TO check and repress
those disastrous expansions, by which the commerce
and currency and business Of the country are 40
often involved in indiscrminate ruin The subject
10 one Of immense importance as affecting all con-
tracts, all property, and all commerce with foreign
nations. IL Is in this latter light only that pro-
pose TO speak oft, as highly necessary those in
terests, which are, in some measure. depepdent
upon tariff of duties. at5lr H.s5e &t ligH.ial3 3
'If our revenue is principally levied upon foreign
imports--6 when an expansion begins prices adj
vince, and foed Of foreign goods is likely To-
deluge the country, all experience showsA-if the
suddenly accommodating revenue is deposited in
banks tobe loaned out by them to excited COM
munity, 1t is quite obvious that the operations tof
government will tend to swell the expansion to
still greater height. II, on the other hand this
accumulang revenue is paid into the treasury prin-
cipay or entirely in the precious metals, as the
demand for them will increase precisely as the ex-
panson increases, it is obvious that here is a check
| the power of which is indefinite and cannot well be-
over-estimatcd, 10 overcome and suppress the APP
proa aching and threatened evil. atg~',
Shut If the expansion is permitted TO run on to
the extent of forty or fifty per cent beyond the true
standard OF value 1.-The tariff Of dutes as protective
of home interests, lis substantially annihilaed y The
foreigner makes his article ut the true standard OF
value, while we make the article at tho swollen
prices of an expanded currency; and though we sell
at those swollen prices, yet they are merely nominal
to us, while the foreigner, selling at the same swol
len prices makes them real to him by carrying home
the specie or its equivalent All manufacturers will
concur IN this view for they have been taught il in
the school Of bitter experience. att41oT
at is, therefore, Of inestimable importance to
manufacturers and to all those interests affected by
revenue legislation, to uphold this measure of gov
eminent, by which the incidental protection of the
tariff of duties is rendered effectuai-by which the
foreigner is compelled to pay the real duties pre-
scribed by law, as he does il he pays in specc--by
which he is forced to stand IN our market, first with
the amount of the duties against him. and then upon
footing of equality without an expansion in his
favor more than counterbalancing the disadvantages
Of the duty" IS & sauf59 BE- rty..e Iana = z
From the Pennsylvani
TO OUR FRIENDS IN THE STATE.