The Cecil Whig. [volume] (Elkton, Md.) 1841-current, 1847-12-07


lions Of dollar and will be sublscI 10 he sill iur,hc-
reduced by ihr amount ol military tuntThuii3
wh3h may be collected Mexico Ii s not prapos4r
however al present 10 ask congress ior auth, fliy .
negotiate this loan Tor The nPxl hsca! ne is t.p.
mat the loan asked for the remainder n ine presr
fiscal year, aided by military contributions win, I,
may be collected in Mexico, NAV be sufficient. l.,
contrary to my expectation, there should be a necp.
city for II, the fact will he communicated Congress
IN lime for their action during the present session
In no event Will a sum exceeding SIX Millions uI de-
lars OF This amount be needed before The InrcIIny
| the SessIon OF Congress in December, I-is
The act of the thrieth uf July, 1916, "reduriu,.
the duties OH imports, has been in force since H.,
FIRST of December last; and gralGed 10 stale III
all the beneficial effects which We're antipaled from
lis operation have been fully realized The publ ,,.
revenue derived from customs during the year eHd O.
ON the first OF December, l-47, exceeds by than
eight millions OF dollars the amount received in his.
preceding year under the operation of the OF 49,
which was superseded and repealed by it. Its efec
are visible IN the great and almost unexamped pros
perlty which prevails in every branch of business
While the repeal of The prohbiiory and restrictive
duties OF the act Of lS2 and the submission in their
place OF reasonable revenue rates levied on ARTICLES
imported according 10 their aciua vsiue has ncseas-
"a me revenue and augmented our foreign trade all
the great interests Of the country have been advanced
| andpro NOTED.
The great and important interests OF the agricul.
| lure winch mad been only TOO much neglected, bur
actually taken under the protective policy for the
benh of other interests, have been relieved of the,
| burdens which that policy imposed on them; and our
pldnters under Il more Just and liberal
| cOmnerclul policy, are finding new and profitable,
| markets abroad for their augmented products
| Our commerce is rapidly increasing, and is extend
ing more widely the circle of International exchange L.
Great as has beeen the increase of imports d,I
ang the past year. exports of domestic producIs
sold III foreign markets have been still grsaler
| Our navigating interest is eninently Prosperous
The number OF vessels built in the United States bos
| been greater then during any preceding period Of
equal length laarge profits have been derived by
nose VINO nave constructed as well as by those
who have navgated them. Should the ratio of IN
crease III the number of our merchant vessels bs
progressive, and he as great for the future as durin,
the past year, the time is not far distant when our
tonnage and commercial marine will be larger than
that OF any other nation in the world
| Whilst the interests Of agriculture of commerce.
and OF navigation have been enlarged and inyigoru.
ted, Is highly gratifying 10 observe that our mann,
factnrers are also IN prosperous condition. None
Of The runous effects upon this interest which wrr,
unprecedented by some, AS the result the operation at
| the revenue system established by the act Of 1SiG
have been experienced On the contrary, the numl er
Of manufacturers, and the amount of capital invested
in thcm is steadily and rapidly increasing atforony
gratifying proofs that American enterprise and SKI
employed i'll this branch of domestic industry wrb
no other advantages Than those fairly and incidenrnI
| accrulng from ust system OF revenue duties or
alndantly able To meet successfully all coInpetitlnn
from abroad, and still depve fair and remueraiiun
profits.
adequate and fair profits under the system The.
wages of labor, whether employed in Manufacture,
agriculture commerce, navigation, have been aue.
| menlcd. The tOIng millions. whose daily labor fu1
nslcs the supply nj food and raiment and a Tho me-.
cessaries and comforts Of life, are receiving hjvh.r
| wages, and more steady and permanent employment
liaIl IN any other country, or al any previous period
| OF our own history
| 80 successful have been all branches of our ,nu,-
try, that foreign war, which generally dimin.E,t
the resources of nation, has no essential drpr,r
retarded our onward progress, or checked genrr.
| al prosperity
| win such gratifying evidences Of prosperiiy and
{" me successful operation OF the revenue act Of 1916
every consideration ct public policy recommend. lt
snail remain unchanged. 1t is hoped that the sy,
tim OF inpost duties which Ii established NAV be r.,
garded as the permanent policy ol The country ami
mai The great interests affected by it NAV moi peuu
ne sabcct 10 he Inlurlousy disturbed As then her,
tore been, by frequent and sometimes sudden chung.
| ior NE purpose OF increasing me revenue, ana
| without chansng or modifying the rates lmloscG l.
ne vet ~ li6 on the duable ,rtclcs embraced by n.
| provisions. again recommend II your favorable
Gon.loeral,nn inr .xpedenc, Of ievyinga revenue
| here articles ifnm duty during peace and when h.
,uty to be derived from them needed ceoSt
| Iulrrs the use OF n its avnape resources II is
az winch should be, 50 generally drused among ,h|
| md be- conn aimed uf by none II is b, iieyed 1,.'
| here are not in the list Of imported articles an,
Wnir are more properly the subject OF war duties
1t Is "srmored that three mllors Of dollar, Womb
| y" derived annually by moderate duty inuo,eJ on
| hs-e articles,
| Should Congress avail itse'f Of this additional
'"HTr' OF revenue not only wOnd the amopnI of the
| Pul'r loan redrred Necessary by Inc with Mex
co be diminished 10 that extent. int the nuhlic rr,
aud the public confidence that ability and dr,rrm,
nation OF the government; 10 meet al Its enpagcnp,r-
promptly would he more htnlv established, and tn.
reduced amount of the loan which II u,v be u.rrssa
ry TO negotiate could probably he Ohraned at rh, g,r
| rates. '
Congress is, therefore, called upon 10 determine.
whether It Is wiser to impose the duties recon-
nended, or, by emitting do So increase the p,tlIc
debt annually three millions of dollars 50 lone ~ lonns
shall be required 10 prosecute the war, and after
wards provide, IN some other FORM to poy the semi
annual interest upon Il, and ultimately 10 extingusL
the principal. IT, III addition 10 these duties. Con
gress should graduate and reduce the price of such r
the public lands as experience has proved will mo-,
command the price placed upon them by The pova
| ment, an additional annual income to the treasury ~
between half million and million of dollars il,
| estimated would be derived from this source
should both measures receive The sanction of Cor
gress, the annual amount Of public debt neceSSar, =
be contracted during the continuance of the ~ "
would be reduced near four Lions of dollars H..
duties recommended Ia he levied on tea and cOI..H
is proposed shall be United in their duration IN Il II
end Of the war, and until the public dent rend.rrnitg
The amount Of the public dei to be contracted Sbsj
be limited t, to the loves, praccablc sum, and sh""G
war ns The means Of the treasury will permit '''
With this view, III recommended that as soon ..
needed for other Indispensable Objects shall cy'
s,ltue sinking fund, and be applied 10 The purch,s.
Of the funded debt and that authority be conferred r
law for that purpose "
The act OF the sixth OF August, 1916, 90 esiab;,,
"A Warehouslng SYSTEM" has been in opera,ion 10,
than year. and has proved 10 be an lmnor,ani AL
larry 10 the tariff act of 1916, in augmeniipe the
nue., and extending the commerce OF she cnrn,.
Whilst i, has tended 10 enlarge commerce il has h!.
beneficial 10 our manufactures, by diminishing torcsI
sales nj aucilOno foreign goods nj low prices IN r
The duties 10 be advanced ON them, and BY cbecLin
fluctuations in the market.
The system, although sanctioned by the eyneri.,
Of other countries, was entirely new IN the r S,a,
and is susceptible of Improvement in some of lis mo-
Visions The secretary OF the treasury, upon ub,,
devolved large discretionary powers IN carrv,.,
this measure into effect, has collected and ia No.,
collatng the practical results OF the sySIe,n in CIV
countries, where ii has long been esIabli,bed al',
will report al an early period OF your session .,,I
further regulation suggested by the investigation ~
may render it still more efecual and bene6rIaI " 40
BY the aci provide for he better organZoti,,, M
the treasury, and for the collection safe kernng
dsburs cme OF the pubic revenue" all hanks S,,a
Discontinued as fiscal agents OF the government, i,,
the paper currency issued by Them was no longer
United 10 he received III pa, ment of public dues ''
The constitutional treasury created nv tho -
went into operation ON the first of January ms,
nder the system established by il the, pullic ,n",,
have been collected, safely kept and diSbursed H.
the direct agency OF officers of the government
gold and silver and transfers of large aIunnn,s b
been made from points of collection To ponts ,f ~
burscment, without loss To the rcusury M ininr,,
Inconvenience 10 the trode OF the country W.
While the fiscal operations of the roIernme,, h
been conducted with regularity ard ease nnd.r III,
system, il has had salutary effect IN cberLiur .
preventing an undue imitation Of the MINER n,,rH, '
issued bv the banks which exist under Ss,, ol,,r,
Requiring. ns il does, all dues In The po,rru,n,,,,
be pad IN gold and silver lis effect is 10 restrain