Washington telegraph., 1847-12-29

that all the beneficial effects which were antei.
pated from It's operation have been fully realized
The public revenue derived from customs during
tho year endng on the lst Of neeemheh ISL
exceeds by more than eight mans Of dollars the
amount received in the preceding year under the
operation Of tie act Of lsi2, which vas superseded
aud repealed By IT, lis effects are visible IA the
gfeat aud almost unexampl'd prosperity which
p.eval' In every hraueh Of business
While the repeal Of the pTohibltofy and rrslfIa.
Ya duties of the act Of lsla, aud the substitution
IN their place Of ruasouahle revenue rates levied
on articles imported according 10 their actual val.
ue, has Increased the revenue aud augmented our
foreign tfade all the efeal Interests Of The country
have been advanced aud promoted.
Ths great and impaflsnl interests af agriculture,
which had hren not only too much negIecled, but
actually taxed micr The protective paiey iol tAa
benefit Of other Interests. have hrea taiitycl uf The
haTd Is which that iay imposed On hemi and
our rnrrs and planleFz under mofe isl aad
liberal commercial pa e. are finding nes aud
profitable mliAels abroad OF 1acF augmented nfa'
daets
Our oammens nuqilIY mec ials. aud Is ~.
fteadng moet widely lha alfele o. o'ialemaionsl eKs
changes Gieai - has uzaa the increase of oaf
IulRars luHuz the p4zl Ysaf, oaf fApafis Of da.
msslio prsiaels sold IA ioissu maiAsis have beea
sllll greater
0afuaasaiins Interest is rmnsnlly prosperous
Tue number Of vessels butt in tho United Siaias
haz BEEN greater than during aus preceding psfiai
o. equal ienglh. Large profits have heen derived
hY those who have conslfuetrdas sell as by those
Nha have naYisaicd them. Should the ratio Of
number 1i merchant vessels b. progressive, aud be
az great llf the future during the past year, the
time is no, disian, when our lonaEe aud CONNER.
cal marine will BE- larger than that Of any other
nation IA the kaid.
Nh.,i the Interests Of agriculture Of eammsFes,
a Of navigation have bern culafgsd aad inFig.
ofalsd Il is highly gratifying to observe ihat our
manufactures are also IA prosperous condition -
None VI the fu.nous eiiseis upoa this INTEREST
which Nere appfehcRdrd by some, as the result Of
the operation oi the revenue system established by
the act Of lsi6, have'hern experienced On the
contrary, the number Of manufactures aud the
amount Of capital Invested ia them. Is Sic adiIy IA.
efaasiag, aiiaiding gratifying proofs that Amen.
ean enterprise aud skill employed IN this branch
af domestic industry, with no other advantage than
lhese fairly aud incidentally nremnF from Just
syslfm Of revenue duties, are abundanily able IN
mret successfully oil competition from abroad. aud
slIll derive far and fcmunefaiing profits
While capital nycsiedn Manufactures Is yield.
IN adequate and fair profits uudff the new -.
tenn the wages Of labor, whether employed in
manufactures, agriculture. commerce, or narsa.
ton, have beun augmented. lhe laiag millions,
whose daily labor furnishes tho supply Of food aud
faIment, aud ali the neeezsaries aud comforts uf
lie. arr receiving higher wages, aud more steady
aud permanent employment than IN any otasf
country, OF At any previous Prnod u cut owa h.
tory.
50 successful have bssn al braaabrs Of oaf
industry, that a foreign waf, which generally de
mnishcs the resources Of a nation. has IN 90 rsaHu-
tai degree fstarlrdour onward progress, OF CHECK.
ed our general prosperity.
With such gratifying evidences Of Prosperity, aud
Of the successful operation Of the tsFrlac act af
lsiG, every consideration uf puhIIf policy freom.
inands that Il shall remain unchanged Il Is han=d
that the system OF impasi dulles winch It csiah.
iisled may be regarded the permanent poiIey
Of the country, aud that the great INTEREST," alae.
ted by !, may not agan be snbj'el 10 be Injurious
ly disturbed, they have heretofore hren By lfa-
qaenl aud sometimes sudden changes.
For The purpose Of increasing ihe revenue, aud
without changing OF modifying the rates imposed
by tie act Of 1916 on the duiiablr articles rnnficed
by its provisions, agam recommend TO Your favor.
nblc consideration the expedicncy of lcyying rrv.
I enue duty on tea and coffee. The policy which
exempted ihes- articles lrom duty during peace
and when the revenue 10 be derived from them vas
mol needed, ceases TO exist when the country is
engaged 10 war, aud requires the use Of all III.
available resources IL is iak which would b.
50 generally dliiascd among the people. that 1t
would DO felt opprcssiyey BY none. Il Is believed
that there are not, 10 the III Of imported articles,
any which arc more properly the suhjgc, Of war
duties than tea aud coffee.
II Is estimated that three millions Of dollar.
I L.. 49,. H.
posed on these articles.
Should Congress avail itself Of this additional
source Of revenue, no, only would the amount Of
the public loan which Il may be necessary by he
war with Mexico be diminished To that extent. bat
the public credit, and the public confidence in the
ability aud determination Of the government to
meet all is engagements promptly, would be more
iirmly established, aud the reduced amount Of the
loan which Il may be ncers.aty To negotiate
could probably be- obinined a, cheaper rates
Congress lsi therefore, called upon to determine
whether il Is wiser 10 impose the war d liies Re-
commended, or, by emitting 10 DO so. increase the
public debt annually thee millions Of dollars 50
long asoans shall be required to prosecute the war
and afterwards provide, in some other form. 10 pny
the somi-annual interest upon H. and ultimately
TO erluguish the principal. IT, in addition to these
duties, Congress should g,aduatc and reduce the
pnce Oi such OF the public lands ms experience has
proved will not command the price placed upon
Them by Tile government, an additional annual in.
come 10 the treasury Of between the half million
of dollars, it Is estimated would be derived from
this source Should both measures receive the
sanction Of Congress, the annual amount Of pub.
lie debt necessary to be contracted during the con
tnuance Of the war would be reduced near four
millions Of dollars. The duties recommended 10
be levied on tea aud coffee, it is proposed shall be
limited IN their duration to the end ofthe war aud
until the public debt rendered necessary 10 be con-
iraetcd by It shall be discharged. The amount
Of the public debt TO be contracted should be- limited
to The lowest practicable sum, and should be cx.
lngnished as early after the conclusion Of the war
as the means of tho treasury will permit
with this view, II is recommended that,
as soon as the war shal be over. ali the
surplus in the treasury, pol needed Tor 9th.
er Indispensable objects, shall constitute a
sinking fund, aud be applied to the pur