The Davenport gazette. [volume] (Davenport, Scott Co., Iowa) 1841-185?, 1847-12-21


future period 81 Your session, the loans rec.
o,nmenccd tor Tie iisca! year may lie rcdu-
ced to Sl7 ,OOO,O0o. The loans may lie
further reduced by Whatever amour, oil OK
pcnditnrcs TINT can I've saved by military
contributions collected in Mexico. The
most vigorous measures Tor the augmcnla-
ton ol these contributions have bccn direct
ed. and a very considerable sum is expect
cd from TINT source. It's amount cannot,
however, be calculated with any certainty.
II is recommended that the loans 10 he made
he authorized upon the sane terms, and for
the same time, which were authorized un-
der the provisions Of the act Of the 2S,h Of
January, 1917.
Should the war with Mexico be contnu.
ed till tho Both June, lSi9, il is further cs-
timnted, that further loan Of ST., 500, 600
will he required for the fiscal year ending
on Tint day, in case no duty be imposed on
ten end coffee, and the public lnnds be no,
reduced aud graduated il price, and no mil
itsrv contributions shall he collected in
Mexico. Ii the duty on tea md coffee DC
imposed, and The lands be reduced and
graduated in price, as proposed, the loan
may Inc reduced 10 $1,000, 600, and will
be subject 10 be still further reduced, by the
amount Of military coniribulions,1 which
may he collected in Mexico. Il is not pro-
posed, however, u ask Congress for author
ly to negotiate this loan for the mex. fiscal
year, as it is hoped, that the loan asked for
the demands u the present fiscal year, aid
cd by military contributions which. may he
collected in Mexico may he sufficient. II,
contrary 10 my expectations, there should
be necessity Tor il, the fact will he COM
muncn,ed To Congress in time for their nc
ton during the present session. In no
event, will n sum exceeding $4,000, 600 of
this amount he needed before the meeting
OF the session Of Congress Of 1918. The
act Of the Both July, 1916, reducing the du-
ties on imports has been in force since the
lst Of December last, and nm gratiticd to
state, that all tho beneficial effects which
were anticipated from its operations have
been fully realized. The public revenue
derived from customs during tho year end.
ing LIST Dec, 1877, exceeded by more than
SS,OOO,OGO, tho amount received in the
r,ccding year, under the act Of lsi2, and
which was superseded by il; its effects nrc
visible in tho greater and almost uncxam-
pied -.prosperily which prevails in almost
every branch of business.
While the repeal ol the prohibitory md
restrictive duties Of the net of 1912, and
the substitution in their place Of reasonable
revenue rates, levied on articles imported
according 10 their actual value, has incrcas-
cd tho revenue and augmented our foreign
trade, nll the great interests which had
been not only too much neglected, but ac-
tually taxed by the protective policy, for
the benefit Of other interests. have been
relieved Of the burden which that polio,
imposed upon both farmers and planters.
under the more Just and liberal policy, arc
finding new aud profitable markc, scaboard
Tor their augmented products. Our com
merce j. rapid, increased, aud is extending
more widely the circle al infcrna,innal cx
changes. Great ms has been the Increase
Of onr imports 81 The past Year. our exports
at domestic products sold III foreign mar
kcts, has been still greater.
Oar navigation interests arc cmincn,ly
pr"snerons-th number ol vessels built in
the l.. :. is greater than during any period
a equal 'cnrth. Larac pr'ii,s have bccn
derived by those who have constructed rs
well rs by those who have navInated them.
Should the rate of increase IN the number
oi our merchant vessels he progressive, and
he us great iur the future ms during the
past Year, the time is MT distant when Our
tonnage aud commercial marine will hc
larger than that oi any ether nation in the
world. Whist the interests 81 agriculture.
Of commerce and navigation have been en-
largcd, it is highly graft, ing TO observe
tint our manufactures IRE also in pros.
porous condition.
None Of the ruinons effects upon these
interests which were apprehendcd BY some
as the result oi the operation Of the rcvc-
nne s,sten,, established but the contrary
tho number Of manufactures and the n
mount Of capital invested ia them, is rapid
~ increasing, ailording gratifying proof
that American enterprise aud skill employ
ed IN this branch Of domestic industry, with
no other advantage than those fairly and
lncidcnin! accruiDg iro,n just system oil
revenue on duties IRE nbundan,ly able To
meet successfully oil competition from n.
broad, md still derive lair and rcm,,uera.
ting profits.
While capital invested in manufactures
is yielding adequate and fair profits under
they new system, the wages OF labor whc,L-
or employed in manufactures, agriculture
or navigation, have been augmented.
The telling millions whose daily labor
furnishes the supplies Of food and raimcni
ior all Inc nccessnrics and comtorts of life,
arc receiving wages and more steady aud