The daily union. [volume] (Washington [D.C.]) 1845-1857, 1847-12-07

The great and important interests of agriculture which
I'd been not only much neglected but actually taxed
, the protective policy for the benefit of other
Eve been relieved OF the burdens which that policy imposed
an them; ard Armers and planters, under just
od liberal commercial policy, hndng and profit
l .he markets abroad for their augmented products
Our commerce is rapidly increasing and extending
ror. widely the circle OF international exchanges Great
. mas been the increase of imports during the
year. exports of domestic products sold IN foreign mar
| tss have been sui greater.
Our navigating interest is emineny prosperous. The
Duer Of vessels bull, the United States has been greater
ban during any preceding period of equal length Large
pno been derived by those who have constructed
Dwell by those who have navigated them Should the
ratio Of increase the Dnber of merchant vessels be
posye and be great for the future during the past
year time Is not distant when tonnage and
cal marine will be larger than that of any other nation in
/ he world
whist the interests of agriculture of commerce and OF
naygaon have been enlarged and nvigorated highly
guuying observe that manufactures also a
rosperous condition. None Of the runous effects upon
his interest, which apprehended by some, the
suit Of the operation of the system established by
Of 1876, have been experienced On the contrary
he number Of manufactures, and the of capital ia
vested 10 them, steadily and rapidly Increasing afording
glfyng proofs that American enterprise and skill employ
led this branch of domestic industry, with other adj
antages than those fairly and incidentally accrung from
system of duties anty aole 10 meet
successfully all competition from abroa and stilderive
lar and recommending profits
While capital invested in manufactures is yielding ade-
yase and fair profits under the SYSTEM wages of
abor whether employed in manufactures, agriculture,
veommerce, navigation, have been augmented The
Holding millions, whose daily labor furnishes the supply of
food and rameE and all the necessares and comforts OF
e receiving higher wages and more steady and per-
employment than in any other country, any
PREVIOUS period Of our history
So successful have been all branches of industry that
foreign war, which generally dimnishes the
nation has in essential degree retarded onward
progress, checked our general prosperity.
With such gratifying evidences of prosperity and of the
Successful operation of the of I5i6 every
kderaon OF public policy recommends that il shall remain
unchanged II hoped that the system of impost duties
(which established may be regarded as the permanent
pocy of the country and that the great interests affected
10y may ain be subject to be nluriousy disturbed
they have heretofore been by frequent and sometimes
Sudden changes
For purpose of increasing the revenue and with
,u changing modifying the rates imposed by the
d 1916 the dutiable articles embraced by prov-
hons again recommend your favorable consideration
he expedlency Of evyng revenue duty and coffee
The policy which exempted these articles from duty during
psace and when the be derived from them
needed exist when the country engaged
and requires the of all IFS available resources IL
tax which would be so generally diifused among the
psope that would be felt oppressivey by none, and be
solpaned of by Ii is believed that there
list of imported articles any which properly
/ the subject of war duties than tea and coffee.
II estimated that three millions of dollars would be de-
wed annually by moderate duty imposed on these arti
Should Congress avail itself of this additional source of
avenue only would the amount of the pablo loan
erred necessary by the with Mexico be diminished
that extent, but The public credit, and the public conf
dsnce in the ability and determination of the government
to all lis engagements promptly, would be firm
established and the reduced amount of the loan which
nav be necessary negotiate could probably be obtain
i Cd at cheaper rates
Congress is therefore, called upon determine whether
impose the duties recommended, by
emitting 10 DO So increase the public debt annually three
millions of dollars so long loans shall be required pros
ecas war; and afterwards provide, in other FORM
pay tho senannua interest upon it, and ultimately to
exiting ush the principal IT. in addition these duties,
Congress- should graduate and reduce the price Of sach of
The public lands experience has proved will not command
price placed upon them by the government additional
annual income to the treasury OF between half million and
million OF dollars, It Is estimated would be derived from
thus Should both receive the sanction of
Congress- the annual amount of pasic debt necessary to be
contracted during the continuance of the would be
duced four millions of dollars The duties recon-
ended to be levied tea and coffee is proposed snail be
United in their duration to the end OF the war; and until the
public debt rendered necessary TO be contracted by shall
discharged The amount of the public debt to DC con-
aeted should be limited TO the lowest practicable sum- ana
should be exingushed as enry after the conclusion oil the
war as the means of the treasury Will permit
With tins view, II IS recommended iat as soon as the
var shall be over all the surplus IN the treasury not
needed for other Indispensable objects, shall constitute
nkns fund.- and be applied to the purchase OF the funded
debt and that authority be Conferred by law Tor mat
purpose.
The act of the sixth oil August, lS4b, 10 establish
warehousing SYSTEM, has been IN operation more than
year and has proved to be important auxiliary TO the
rh act OF 1885, IN auSmentIng the revenue, ana extend
Ping the commerce OF the country Whilst has tended 10
nlarge commerce. 1t has been beneficial TO our manuinc-
lures, by diminishing forced sales at aucten OF foreign
Ngo3ds low prices the duties to he advanced
Ion them, and by checking fluctuations in the market.
The system, although sanctioned by the experience OF
oher countries, entirely new IN the United States, ana
susceptible of Improvement IN someo lis provisions The
Secretary of TIE Treasury upon whom were devoved large
his r,lrN a - ff