The Charlotte journal. [volume] (Charlotte, N.C.) 1835-1851, 1847-12-23

! be suhjec, 10 be still further reduced i,
/ The amount OF the military contribution
! winch may be collected IN Mexico II j
not pr p scd however, at present, 10 asI
Congress for authority to negotiate TIN
loan for The next fiscal year, as il Is hope,
that the loan asked for the remainder 0
the present fiscal year, aided bv military
contributions which may be collected II
Mexico, may be sufficient. If, contrary
10 ny expectation, there should be ne
cessiy for II, the fact viii be communI
Gated Congress IN lime for their actor
during the present Session. 10 no even
viii sum exceeding SO 1000, 600 Of TN,
amount be needed before The meeting d
Congress IN December, ISIS.
The act Of the 3O,h Of july, 1916, ere
ducing the duties on imports" has been IL
force since The Isl of December last and
an gralfcd 10 state, that all the beuefi.
ciaI effects which were anticipated from It's
operation have been fully real zed. The
public revenue derived from customs du.
ring the year ending on the first OF DE.
eember 1917, exceeds by more Than eight
g liars the amount received IN
I '"e preceding year under The operation Of
ne act Of lsi2, which was superseded
and repealed by il. It's effects are visible
Inae(fRPte great and almost unpxumpIed pros
business. prevails in every branch of
Whie the repeal Of the pr
restrictive duties Of the act Of lsl2 and
the substitution in their place Of reasona.
bic revenue rates levied on articles Impar.
ted according to their actual value, has in.
creased the revenue and augmented oar
foreign trade, all the great Interests Of the
county have been advanced and promo.
ted.
The great and important interests Of
agriculture, which had been not only too
much neglected, but actually taxed under
the protective policy FOR be benefit Of 9th.
er interests, have been relieved oC The bur.
dens winch that policy imposed on hem
and our farmers and planters, undcs more
just and liberal commercial policy, are
hndlng new and profitable markets abroad
for their augmented products.
Our commerce is rapidly increasing, and
IS extending more widely the circle Of in.
lcinauona exchanges, Great as has been
the increase Of our imports during the past
year, our exports Of domestic products
sod 10 foreign markets have been still
greater.
Our navigating interest is eminentIy
prosperous. The number of vessels bulli
IN the L. States has been greater than du,
ring any preceding period Of equal length.
Large profits have been derived hv hose
who have constructed as well as lv those
who have navgated them. Should the
ratio Of increase in the number Of our
merchant vessels be progressive, and be as
great for the future a. during Tie past year,
the lime is not distant when our tonnage
and commercial marine wll be larger
tnan that Of any other nation in the world.
Whilst the interests Of agriculture, Of
commerce, and OF navigation have been
enlarged and lnvI-oTatcd, II Is highly graf.
flying to observe that our manufactures
are also in prosperous condition. None
OF the funous effects upon this interest,
which were appreheuded By some, as The
result of the operation Of the revenue sys.
TEN established by the act Of lS46, have
been experienced. On the contrary, the
number Of manufactures, and the amount
Of capital invested in them, is steadily
and rapidly increasing, alfoTdlng CRAFTY.
ing proofs that American enterprise and
skill employed in this branch of domestic
industry, with no other advantages than
those fairly and incidentally accruing from
a Just system OF revenue duties, are d.
bundantly able 10 meet successfully all
competition FROM abroad, and still derive
fair aud remuneratIng profits.
While capital Invested in manufactures
is yielding adequate and fair profits uoder
the new system, the wages of labor, wheth.
er employ ed in manufactures. agriculture,
commerce, OF navigation, have been aug.
mented. The tolItng millions, whose dal.
y labor furnishes the suTply of food and
raimeut, and all the necussarles aud com.
forts Of life, are receiving higher wages,
and more steady and permanent employ.
ment than in any other country, or at any
previous period of our own history.
S. successful have been all branches oil
our industry, that foreign war, which
generally dlmlnl,hes the resources Of a
nation, has in no essential degree retarded
our onward progress, OF checked our gen
cral prosperity.
With such gratifying evidences Of pros
perIty, aud of the successful operation o
the revenue act Of lS46, every conSldera
ton of policy recommends that it shall re
main unchanged. 1t IS hoped that thu
system of Imuost duties which 1t establish
ed may be regarded as he permanent pol
ICY of the country, and that the great IN
terests affected by It may not again bt
subject to be lnlurIously disturbed, as they
have heretofore been, by frequent anC
sometimes sudden changes.
For the purpose Of increasing the rev
enue, and without changing or mod,lyln!
+ the rates imposed by the act of lS46 OF
the dutiable articles embraced by ITS pro
visions, again recommend to your favor
able consideration the expedlency of levy
inc n revenue duty ON tea and q flee Tn,