Burlington free press. [volume] (Burlington, Vt.) 1827-1865, 1847-12-11


ry revenue OF the government, will be necessary. Re-
timing sufficient surplus in the treasury, the loan
CURED for the remainder of the present fiscal year will
be about eighteen million five hundred thousand dol
lars.
Ii the duty on tea and coffee be imposed and the
graduation Of the price ofhe public lands shall be made
at an early period of your session, as recommended
the loan Tor the present fiscal year may be reduced to
seventeen millions OF dollars The loan may be fur
Their reduced by whatever amount OF expenditures
be saved by military contributions collected in Mexico.
The most vigorous measures for the augmentation
of these contributions has been directed, and very
considerable is expected from that source. lts
amount cannot, however be calculated with any GER
tainty It's recommended that the loan to be made
be authorized upon the same terms, and for the
time that which authorized under the provis-
ions of the of the twenty eighth Of January lsi7
! Should the war with Mexico be continued until the,
thirtieh OF June, lSi9 is estimated that further
loan Of twenty million five hundred thousand dollar.
will be required for the fiscal year ending that day.
III case no duty be imposed on tea and coffee and the
public lands be not reduced and graduated in price.
and no military contribution shall be collected in Mex
leo.
tthe duty on tea and coffee be imposed, and the.
lands be reduced and graduated in price. proposed.
the loan may be reduced to seventeen millions OF dol
lars, and will be subject to be still further reduced by
the amount OF the military contributions which may b.,
collected in Mexico:
1t is not proposed however, al present. to ask Com
gress tor authority to negotiate this loan for the
fiscal year, as it hoped that the loan asked for the
remainder of the present fiscal year. aided by military
winch may be collected IN MEXICO. NAV
be sufficient. II, contrary TO my expectation, the r.;
should be necessity for it, the fact will be commune
Gated to Congress in time for their action during the
present session. In no event will n sum exec. dug
six millions OF dollars OF this amount be needed before
the meeting OF Congress in December, lS4S.
The act Of the Both July, 1876, reducing the duties
on imports, has been in force since the LIST OF Decem
Der last and am graied to state that all the bec-
fetal effects which were anticipated from its OPERA
ton have been fully realized. The public revenue
derived from customs during the year endiag on the
LIST OF December iSi7, exceeds by more than eight
millions OF dollars the amount received in the precc
ding year under the operation OF 1912, which was
perseded and repealed by it, Its effects visible il,
the great and most unexampled prosperity which
prevails2n every branch OF business
i Viii THE repeal OF the prohlbtory and restrictive
duties The act OF 1910, and the substitution in their
place reasonable revenue rates levied on articles
mpo1 according to their actual value has incretis
ed til enue and augmented foreign trade all
the interests OF the country have been advanced
and Oed md ;m,or,,r, ;,,sr..,. ., ,,r;.,,,,,.
u been only too much neglected. but
ed under the protective policy for the benc-
fr interests, have been relieved OF the burdens
at policy imposed on them and our farmers
ters under more just and liberal commei-
~, are finding new and profitable markets
AZ their augmented products.
i O nmercc is rapidly increasing, and is
tend ore widely the circle OF International
chan Great as has been the increase of our inn
ports ng the past year. our exports OF domestic
produ lid in foreign markets have been still greater.
Il Our vigating interest ia emlnently prosperous.
The md Der OF vessels built in The United States has
been ater than during any preceding period Of
f those who have constructed well as by those who
have na,igaed them Should the ratio OF increase in
number vi merchant vessels be progressive, and
be as great for the future during the past year the
time is not distant when our tonnage and CONNER
cal marine will be larger than that OF any other ma
ton in the world.
Whilst the interests OF agriculture OF commerce.
and OF navigation have been enlarged and invigoratel.
II is highly gratifying to observe that manuinc-
lures also in prosperous condition None Of tn
rulnous effects upon this interest which was appre-
hended by some the result OF the operation OF the
revenue system established by the act OF 1896 have
been experienced.
On the contrary, the number Of manunct tories and
the amount OF capital invested in them, is steadily aud
rapidly increasing, afiording gratifying proofs that
American enterprise and skill employed IN this branc
OF domestic industry, with no other advantages than
those fairly and incidentally accrung from Just s,s-
TEN oil revenue duties, abundanty able to meet
cessully all competition from abroad, and still divert
fair and remuneGatlng profits.
Awhile capital invested III manufactures is yielding
adequate and fair profits under the new system the
wages OF labor whether employed III manufactures,
agriculture, commerce or navigation, have been aug
mcnted. The loiling millions, whose daily labor fur
nlshes the supply OF food and rainent, and all the lr
cessares and comforts OF life, are receiving higher
wages, and more steady and permanent employment
than in any other country, or at any previous period
I OF our "wn history.
So successful have been all branches OF our indus
try that foreign war, which generally dminisheS the
resources OF nation, has in especial degree relard
ed our onward progress, checked general pros
, perlty
With such gratifying evidences of prosperity, and
of the successful operation OF the revenue OF 1916,
every consideration OF public policy recommends that
i it shall remain unchanged. 1t is hoped that the sys
. TEN OF impOst duties which il established may he re-
= garded as the permanent policy OF the country, and
that the great Interests affected by II may not again h.
subject be nuriousy disturbed, as they have here
oiore been by frequent and sometimes sudden changes
. Enr Ia, nj rpN Al
II without changing modifying the rites imposed by
n the act Of 1910 on the duabc articles embraced by
It's provisions, again recommend 10 your favorable
II consideration the expedency Of evying revenue
: duty on tea and coffee.