The Democratic pioneer. [volume] (Upper Sandusky, Ohio) 1845-1853, 1847-12-24

merce, or navigation, have been augmented.
The tolling millions, whose daily labor furn-
ishes the supply Of food and raiment, and all
the necessares and comforts Of life, are re-
ceiving higher wages, and more steady and
permanent employment than in any other
country, or at any previous period of our own
history.
So successful have been all branches Of our
industry, that foreign war, which generally
dimlnishes the resources Of nation, has in
no essential degree retarded our onward pro-
gress, or checked our general prosperity.
With such gratifying evidences ofprosper-
ity, and the successful operation Of the
revenue act of 1916, every consideration OF
public policy recommends that it shall re-
main unchanged. 1t is hoped that the system
of impost duties which it established may be
regarded as the permanent policy ofthe coun-
try, and that the great interests affected by it
may not again be subject to beinjuriously dis
turbed, as they have heretofore been, by FREE
quent and sometimes sudden changes.
For the purpose Of increasing the revenue,
and without changing or modifying the rates
imposed by the act Of 1916 on the dutiable
articles embraced by its provisions, again
recommend TO your favorable consideration
the expedency of levying a 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
which 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 proper
| ly the subject of war duties than tea and cof-
fee.
1t is estimated that three millions of dol
lars would be derived annually by moderate,
duty imposed on these articles.
Should Congress avail itself of this addl-
tional 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 government to meet all its engagements
promptly, would be more firmly established
and the reduced amount of the loan which it
may be necessary to negotiate could probably
be obtained at cheaper rates.
Congress if, therefore, called upon to de-
termine whether it is wiser to impose the war
duties recommended, or, by omitting to do so,
increase the public debt annually three mil
lions of dollars so long as loans shall be re-
qnired to prosecute the war, and afterwards
provide, in some other form, to pay the semi
annual interest upon it, and ultimately to ex-
tinguish the principal. II, in addition to these
duties, Congress should graduate and reduce
the price of such of the publicl eas exe
perience has proved will not command the
price placed upon them by the government,
an additional annual income to TIE treasury of
between half million and million of dol
lars, it is estimated, would be derived from
this source. Should both measures receive
the sanction of Congress, the annual amount
of public debt necessary to be contracted
during the continuance of the war would be
reduced near four millions of dollars. 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
puhltc Inbt rnn1ara1 10 ko
tracted 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 extnguished as early after the con-
clusion of the war as the means of the treas
ury will permit.
With this view, it is recommended that, as
soon us the war shall be over, all the surplus
in the treasury, not needed for other indspen-
sable objects, shall constitute sinking fund,
and be applied to The purchase of the funded
debt and that authority be conferred by law
for that purpose.
The act of the sixth of August, 1916, to
establish warehousing SYSTEM has been in
operation more than year, and has proved
to be an important auxiliary TO the tariff
act of 1916, in augmenting the revenue, and
extending the commerce of the country
Whilst it has tended to enllrge commerce, it
has been beneficial to our manufactures, by
diminishing forced sales at auction OF foreign
goods at low prices, to raise the duties to be
advanced on them, and by checking fuctua-
tons in the market. The system, although
sanctioned by the experience of other coun-
tries, was entirely new in the United States,
and is susceptible of Improvement in some of
its provisions. The Secretary of the Treas
ury, upon whom were devolved large dscre
tionary powers in carrying this measure into
effect, has collected, and is now colating, the
practical results of the system in other coun
tries. where it has long been established, and
will report at an early period Of your session
such further regulations suggested by the
:. i en-