Democratic banner., 1847-01-04

same b, psiii"r HPto!he time Of its discoutinu-
ne
, T. IN! ERIISEIT time rcry h,C. -
al letters ~ business must be post paid.
But for IA" war, the whole public debt could
inni would hav" been distinguished within u
short period; and it was a part Of my settled
policy 10 do 80, and thus relieve the people
from is burden, and place the government
IN a position which would enable it to re-
idure the public expenditures TO that eco
nomicaI standard which is most consistent
with Tic general welfare, and the pure and
wholesome progress Of our institutions.
Among our Just causes Of complaint a.
gainst Mexico, arising out of her refusal to
treat forpcacc, as well before as since the
war 50 unjustIy commenced On her part,
are the extraordinary expenditures in which
we have been involved. Justice TO our
own people will make it proper that Mexl-
co should be held responsible for these ex-
pcnditures.
Ec6hnmy in tI,o public expenditures is
ut a!ltimcs a high duty which all public
r'Inctionaries ofthe government owe To tho
people. This duty becomes the more i'm
p~crative in the period of war, when large
and extraordinary expenditures become I'M
avoidabl". During TIE existence of the
war ".i't N.xico all our resources should
be ;9.s3andcd, and no appropriations made
except such as are absolutely necessary for
1t, rigorous prosecution and the due admin
i~'tration of the government. Objects of
appropriation which in peace may be deem
- "s"fnl and pr per, but which are not i'll
dispensable to the public service, may,
when the country is engaged in a foreign
war, be well postponed to 4 future period.
By the observance of this policy at your
present session, large amounts may be saw
ed to the treasury and be applied to objects
Of pressing and urgent necessity, and thus
the creation of a corresponding amount of
public debt may be avoided.
Il is not meant 10 recommend that the or
dilary and necessary appropriations for the
support OF government should be withheld,
but it is well known that at every session
CT Congress appropriations are proposed
for numerous objects, winch may OF may
not be made, without materially affecting
The public interest, and these it is recon-
mcnded should not be granted.
: The act passed at your last session ';re-
d',c.nG the duties on Imports not having
gone into operation until the first of the
present month. there has not been time for
its practical effect upon the revenue, and
the business Of the country, to be develop
ed. 1t is not doubted however, that the
just policy wEich it adopts will add largely
to our foreign trade, and promote the gene
raj prosperity. Although it cannot be GER
tainlv f~orcsccn what amount of revenue it
will Weld, it is estimated that it will exceed
thot produced by the act of 1912, which it
superseded. The leading principles estab-
liShrd by it are, to levy the tarcS with a
view to raise revenu and to impose them
upon tie articles imported according to
their actual value.
The act of 1872, BY the excessive rates
Of duty which it imposed on many articles
either totally excluded them from importa-
lion. or greatly reduced the amount import
cd, and thus diminished instead of produ-
cling revenue. By it the taxes were impos-
cd, not for the legitimate purpose of rails
ing revenue, but to afford advantages to ia
vorcd classes, at the expense of a large
; majority Of their llnw-citizens. Those
+ employed in agriculture, mechanical pur-
suits, commerce and navigation, were COM
PEELED to contribute from their substance
to swell the profits and ovcrgrown wealth
of til" comparatively few who had invested
their capital in manufactures. The taxes
were = { Levied in proportion to tie value
a, of IT,. .:...lrs upon which thcy were impos-
e.; hut widely departing from this just rule,
the lighter taxes were, in many cases, levi
ed upon articles Of luxury and high price,
and tie heavier taxes on those of necessi-
ty and low price, consumed by the great
mass Of the uroplc. 1t was a system, the
ir,,;t~hic IF ct of which was to relieve ia
vorcd classes, and the wealthy few from
contributing their just proportion for the
SuurGrt of the Government. and 10 Law the