Liberty advocate. [volume] (Liberty, Miss.) 1835-1866, 1846-01-03
NUMBER Al.

great and growing people who had fully
discharged every obligation. Since that
time, the existing debt has been contract
ed; and small as it is, in comparison with
the similar burdens of other nations, it
should be extinguished at the earliest
practicable period. Should the state Of
the country permit, and especially, II our
foreign relations interpose no obstacle, IL il
contemplated to apply all tine moneys in
the treasury as hey accrue beyond what
lsTcquired for the appropriations by
Congress, to its liquidation. cherish
the hope of soon being able to congratu-
late the country on its recovering once
more the lofty position which itso re-
Gently occupied. Our country which ex.
hibits 10 the world the benefits Of self
government, in developing all the sources
of national prosperity, owes to mankind
the permanent example OF nation free
from the blighting influence Of public
debt.
The intention Of Congress is invitedto
the importance of notifications and reduc-
tons OF the rates Of duty imposed by the
present tariff laws. The object Of impos-
ing duties on imports should be to raise
revenue to pay the necessary expenses of
government. Congress may. undoubed
! ly, in the exercise of sound discretion,
discriminate in arranging the rates of du-
ty on different articles; but the dscrimln-
atoms should be within the revenue stand
ard and be made with the view to raise
money for the support of government.
1t becomes important TO understand dis
tnctly what is meant by revenue stand
ard, the maximum Of which should be
exceeded in the rates Of duty imposed.
.ltis conceded, and experience proves,
that duties may be laid so high as to d.
mlnish, or prohibit altogether, the impor-
lation Of any given article, and thereby
lessen or destroy the revenue which, at
lower rates, would be derived from its inn
Iportation. Such duties exceed the reve-
nue. rates, and are not imposed 10 raise
money for the support Of government. /:
Congress levy duty for revenue, or one
per cent on given article, it will produce
a given amount of money to the treasu-
Iry, and will incidentally and necessarily
afford protection, or advantage, TO the
amount Of one per cent to the home man.
Iufacturer of similar or like article over
the importer. If the duty be raised to
ten per cent, it will produce a greater
amount Of money, and afford greater pro-
lection. If it be still raised to twenty,
twenty give, or thirty per cent, and if, as
il is raised, the revenue derived from it is
found to be increased the protection or
advantage will also be increased but if it
be raised to thirty per cent, and il is
found that the revenue produced at that
rate is less than at thirty per cent, it cea-
ses to be a revenue duty. The precise
point in the ascending scale OF duties at
which it is ascertained from experience
that the revenue is greatest, is the maxim.
UNI rate OF duty which can be laid Tor the
bona jIde purpose Of collecting money for
the support Of government. To raise
the duties higher than that point, and
thereby diminish the amonnt collected, is
10 levy them for protection merely, and
not for revenue As long, then, as Con-
gress may gradually increase the rate of
duty on gwen article, aud the revenue
is increased by such increase Of duty,
they are within the revenue standard.
When they 60 beyond that point, and, as
they increase the duties,h revenue is di.
or destroyed, the act ceases to
have for its object the raising OF money
TO support government, but it is Tor pro-
lection merely.
1t does not follow that Congress should
levy the highest duty on all articles Of
import which they willnot bear with the
revenue standard. for such rates would
probably produce much larger amount
than the economical administration Of the
government would require. Nor does it
follow that the duties on all articles
should be at the same, or horizontal
rate. Some articles will bear a much
higher revenue duty than others. Below
he maximum of the revenue standard
Congress may and ought 10 discriminate
n the rates imposed, taking care to adjust
hem on different articles as to produce
n the aggregate the amount which, when
Idded to The proceeds of sales of public
ands, may be needed to pay the econo-
meal expenses of the government.
In levying tariff of duties, Congress
the taxing power, and for pur.
oses Of revenue may select the objects
f taxation. They may exempt certain
-ticles altogether, and permit their i'm.
ortation free Of duty. On others they
lay impose low duties. In these classes
loud be embraced such articles o. ne,
,siiy as are in general use, and especial
such as are consumed by the laborer
ID the poor, as we'll as by the wealthy
tzen. Care should be taken that all
-eat interests Of the country, including
agriculture, commerce, ma
cation, and the mechanic arts, should,