Jeffersonian Republican. [volume] (Stroudsburg, Pa.) 1840-1853, 1847-12-16
fcosr,rUrp FROM FOURTH PAGE I

al exchanges. Great as has been the iDcieaoe
of our imports during the past yea', our ex-
ports ofdomestc products sold In foreign mar
kets have been still greater.
Our navigating interest is eminently prosper
Gus. The number OF vessels built in the u. S.
has been greater than during any preceding peri
cd of equal length. Large profits. have been de-
rived bv those who have constructed as well as
bv thnse who have navigated them. Should
the ratio of increase in the number of our rner-
chant vessels be progressive, and be as great
for the future as during the past year the time
is not distant when our tonnage and CONNER
cial marine will be larger than that of any 9TH
er nation in the world.
Whilst the interests Of agriculture, OF com.
merce, and of navigation have been enlarged
and nvigoraled, tits highly gratifying to observe
that our manufactures are also IN prosperous
condition. None of the ruinous effects upon
this interest. which were apprehended by some,
as the result of the operation OF the revenue
system established bv the act OF 1916, have
been experienced On the contrary, the num-
Der OF manufactures, and the amount OF capital
invested in them is steadily and rapidly increas-
ing, affording gratifying proofs that American
enterprise and skill employed IN this branch oi
domestic industry, with no other advanta-
pes than those fairly and incidentally accruIng
from just system of revenue duties, are abun-
dainty able to meet successfully all competition
from abroad, and still derive fair and remuner-
a;ng profits.
While capital invested in manufactures is
yielding adequate and fair profits under the
new system, the wages of labor, whether en-
ployed in manufactures, agriculture, commerce,
or navigation, have been augmented. The
tuing millions, whose daily labor furnishes the
supply of food and raimeEt, and all the necessa-
reS aud comforts OF lie. are reGelylng hlgher
wages, and more steady and permanent employ
ment than in any other country, or at any pre-
vious period Of our own history.
So successful have been all branches OF our
industry that foreign war, which generally
diminisaes The resources OF nation has in no
essential degree retarded our onward progress,
or checked our general prosperity.
With such gratifying evidences Of prosperity,
and Of the successful operation of the revenue
act Of 1916, every consideration Of public poll
CIV recommends that it shall remain unchanged.
II is hoped that the system of impost duties
which is established may be regarded as the
permanent policy of the country, and that the
great interests affected by it may not again be
subject to be injuriously disturbed as they have
heretofore been, by frequent and sometimes sud-
den changes.
For the purpose Of increasing the revenue,
and without changing or modifying the rates
imposed by the act OF 1916 on the dutiable ar
ticles embraced by its provisions, again re-
commend TO your favorable consideration the
expediency of levyfng revenue duty on tea
and coffee. The policy which exempted these
articles from duty during peace, and when the
revenue to be derived from them was not
needed, ceases to exist when the country is
engaged in war, and requires the use of all its
available resources. 1t is tax winch would
be so generally diffused among the people, that
it would be felt oppressively by none, and be
complained of by none. 1t is believed that
there are not, in the list of imported articles,
any which are more properly the subject of war
duties than tea and coffee.
1t is estimated that three millions of dollars
would be derived annually by moderate duty
imposed on these articles.
Should Congress avail itself of this addition
al source of revenue, not only would the amount
of the public loan rendered necessary by the
war with Mexico be diminished to that extent,
but the public credit, and the public confidence
in the ability and determination of the govern
ment to meet all its engagements promptly,
would be more firmly established, and the re-
duced amount OF the loan which it may be ne
cessary TO negotiate could probably be obtained
at cheaper rates.
Congress is, therefore, called upon TO deter
mine whether it is wiser 10 impose the war du-
ties recommended, or, by omittng to do so, in
crease the public debt annually 5000, 600 so
long as loans shall be required 10 prosecute the
war, and afterwards provide, in some other
form, to pay the semi annual interest upon IT,
and ultimately TO extnguish the principal. If,
in addition to these duties, Congress should
graduate and reduce the price of such of the
public lands as experience has proved will not
command the price placed upon them by the
government, an additional annual income to the |
treasury of between half million and million
of dollars, it is estimated. would be derived from
this source. Should both measures receive the |
sanctioned Congress, the annual amount OF pub |
lie debt necessary to be contracted during the |
continuance of the war would be reduced near
four millions: The duties recommended to be |
levied on tea and coffee, it is proposed shall be
limited in their duration to the end of the war, |
and until the public debt rendered necessary to |
be contracted 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 extinguished as early after the
conclusion of the war as the means Of the trea-
sury will permit.
With this view, it is recommended that, as
soon as the war shall be over all the surplus in
JEe treasury, not needed FOR other indispensable |
objects, shall constitute a sinking fund, and be
applied tothe purhcase ofthe funded debt, and
that authority be conferred by law for that pur-
pose.
The act Of the 9th of Auptlsf 1915 ito estab- |