Sentinel of the valley. [volume] (Woodstock, Va) 1841-1848, 1847-12-16


before the meeting of the session of Con-
giess in December, 1648. tt
The act of the thirtieth of July. 1916, 're
lucing the duties on imports, has been I'M
force since the first Of December last; and
+ IN gra,fed to state. that all the beneficial
fleets which were anticipated from its ope-
alton have been fully realzed. The public
evenue derived from customs during the
year ending on the first of December, 1847.
exceeds by more than eight millions of dots
lars the amount received in the preceding
year under the operation of the act Of 1912,
which was superseded and repealed bv it,
It's effects visible in the great and almost
Iunexamplea prosperity which prevails in ev.
erv bfan~h of b,isine 8.
While the repeal of the prohbtory and re-
strctye duties Of the act Of 1912, and the
substitution in their place of reasonable reve.
nue. rates levied ON articles imported &C.
cortng to their actual value, has iucreascds
the revenue and augmented our foreign trade
all the great interests Of the country have
been advanced and promoted.
The great and important interests of agri.
culture, which has been not only too much
neglected, but actually taxed under the pro-
,ec,ve policy for the benefit of other inter-
es,s, have been relieved Of the burdens which
that policy imposed on them; and our far
mers and planters under a more lust and
liberal commercial policy, are finding new
ard profitable markets abroad for their aug
mented products.
Our commerce is rapidly increasing. and is
extending more widely the circle of p1<sIna
tional exchanges. Great as has beeasf N.el
increase Iof our imports during the pas, ,sA-,-
our exports of domestic products sold In for
eiyn markets have been still greater.
Our navigation interest is emnently pros
! nervous The nnmbe" of vessels h,t "a, tbs,
United States has been greater than any pre-
ceding period of equal length. Large profits
have been derived by those who have con
struc,ed as well as by those who have naviga
ted them. Should the ratio of increase in
the number of our merchant vessels be pro.
gressve, and be as great for the future as
during the past year, the time is not dis
tant when our tonnage and Commercial mia
rlne will be larger than that of any other
nation in the world.
! Whilst the interests of agriculture,
f OF commerce, and of navigation have
been enlarged and invigorated, it is
> highly gratifying to observe that our
. manufactures are also in a prosperous
condition. None of the ruinous ef-
fects upon this interest, which were ap.
f pretended by some, as the result Of
the operation of the revenue system es-
, tabIished by the act of 1916, have been
experienced. On the contrary, the
number manufactures, & the amount
of capital invested in them, Is steadily
and rapidly increasing, affording graft
flying proofs that American enterprise
and skill employed in this branch of
domestic industry with no other advan-
p tages than those fairly and incidental
y accruing from just system of reve-
nue. duties, are abundantly able to meet
: successfully all competition from
p abroad, and still derive fair and remit
nerating profits.
, While capital invested in manufac-
y lures is yielding adequate and fair prof
It's under the new system, the wages
of labor, whether employed in manu-
l. features, agriculture, commerce, or nav
: igation, have been augmented. The
toiling millions, whose daily labor fur
# nishes the supply of food and raiment,
S and all the necessaries and comforts of
: life, are receiving higher wages, and
y more steady and permanent employ
!, ment than IN any other country, OF at
! any previous period Of our own history.
So successful have been all branches
): o: our industry, that foreign war,
+ which generally diminishss the resout-
. ces o! a nation, has in no essential
n degree retarded our onward progress,
It or checked our general prosperity.
! With such gratifying evidences Of
i prosperity, and of the successful oper-
alton of the revenue act of 1916, eve
s ry consideration of public policy re-
y commends that it shall remain un-
4 changed. 1t is hoped that the sys-
It tenn fimpost duties which i, establish
: ed may be regarded as the permanent
policy ofthe country, and that the great
;. interests affected by it may not again
: be subject to be injuriously disturbed,
. as they have heretofore been, by FREE
quent and sometimes sudden changes.
e For tie purpose of increasing the
rt venue, and withou, changing or modi-
: flying the rates imposed by the act of
S 1916 on the dltiable articles embraced
: by its provisions, l again recommend
to your favorable consideration the e.,
r pediency Of leyying revenue day Il
$ tea and coffee. The policy which ess
empted these articles from duty during
peace, and when the revenue to be de-
rived from them was not needed, cea-
, SEES to exist when the country is enga-
ged in war, and requires the use Of all
, its available resources. 1t is a tsx
which will be so generally diffused a.
mong she people, ,Aat it would be felt
oppressively by none, and be complains
ed of by none. 1t is believed thai there
are not, in the list of imported articles,
any which are more properly the SUBJ