Staunton spectator, and general advertiser. [volume] (Staunton, Va.) 183?-1849, 1847-12-15

Should the war with Mexico be continued until
the thirtieth Of June, 1910, it is estimated that
further loan Of twenty million five hundred thous-
and dollars will be required for the fiscal year end
ing on that day, in no duty be imposed on tea
and coffee, and the public lands be not reduced and
graduated in price, and no military contributions
shall be collected in Mexico. Ii the duty on tea
and coffee be imposed. and the lands be reduced aud
graduated IN price, as proposed, the loan may he
reduced To seventeen millions of dollars. and will
be subject To be still further reduced by tho amount
of the military contributions which may be collect
cd IN Mexico. 1t is not proposed however, at pre-
sent, 10 ask Congress Tor authority TO negotiate this
loan for the mex; fiscal year. it is hoped that the
loan asked for the remainder of the present fiscal
year, aided by military contributions which may
be collected III Mexico, may he sufficient. IL. con-
trary TO my expectation, there should be nccessi-
ty for IT, the fact will be communicated to Con
gross in time for their action during tho present
session. In no event will a exceeding six
millions of dollars of this amount be needed before
the meeting Of the session of Congress in Dccem-
Der, 1913.
! The act of the ,hrtieth of July. 1876. "rcdu
cling the duties imports. has been in force since
the lirst Of December last and | am gratified 10
state, that all the beneficial effects which were an
tcipatcd from its operation have been fully rcaz-
cd. The public revenue derived from customs du-
ring the year ending on the first of December lS47,
exceeds by more than eight millions of dollars the
amount received in the preceding wear under the
operation of the act of 1912, which was superseded
| and repealed by II. Its effects are visible in the
great and almost uncxamplcd prosperity which
| prevails in every branch of business
| Whilc the repeal OF the prohibtory and restric-
tive duties Of the act of 1912 and the substitution
in their place of reasonable revenue rates levied on
articles imported according 10 their actual value
has increased the revenue and augmented our 20
reign trade, all the great interests of the country
! have been advanced and promoted.
| The great and important interests of agriculture
which had been not only too much ncrlcctcd but
actually taxed under the protective policy for the
Oeneht OF other interests have been relieved of the
burdens which that policy imposed on them and
our farmers and planters, under more Just and IL
6eral commercial policy. finding nc Y and pro
h'able markets abroad for their augmented products
| Our commerce is rapidly increasing. and is ex
tending more widely the circle of international OK
changes. Great has been the increase of our
imports during the past year, our exports of do
nestle products sold III forcig, markets have been
still greater.
Our navigating interest is cminen,ly prosperous
he number OF vessels built in the United States
has been greater than during any preceding period
OF equal length. Large profits have been derived
oy those who have constructed as well rs by those
who nave naviTaed them. Should the ratio nf i'm
crease IN the number of our merchant vessels bo
progressive, and be great for tho future rs du
ring the past year, the time is not distant when our
that OF any other nation in the world
Whilst the interests OF agriculture of commcrco
ana OF navigation have been enlarged and inyircra-
leu IL Is highly gratifying 10 observe that our man
uIaciurcs are also in prosperous condition None
oil tho ruinouS effects upon this interest. which
were apprchcnded by some, as the result of the on
Grafton OF the revenue system established bv tho
act OF 1916, have been experienced. On the CON
! trary, the number of manufacturers and tho amo,n,
OF capital invested in them, is steadily and ranidly
increasing aiiording gratifying proofs that Amer
can enterprise and skill employed in this branch Of
domestic industry, with no other advantarcs than
muse larry and incidentally accruing from just
meet successfully all competition from abroad and
sui acIiVe fa!r and remuneratng profits
Whiie capital invested in manufactures ia Weld
ing adequate and fair profits under the new system
.ho wages OF labor, whether employed in manu:c
lures, agriculture, commerce or noviootio, -
been augmented. The toilinr millions wboso da;
" labor furnishes the supply Of food and raimont
ana all the nocessares and comforts of life. are re-
ce'Vihg hgher wages, and mare steady and perIna
ncnt employment than in any other country or =,
any previous period of our own history
90 successful have been all branches of orr in
eus'ry mat foreign war, which generally dmin
iShes the resources of nation, has in no essential
ueSreo retarded our onward progress, OF checked
our general prosperity
with such gratifying evidences Of nrosnor;,r
and OF the successful operation of the revenue oct
vi l04o; every consideration ofpublic policy recon-
,ienuS that 1t shall remain unchanged tits hoped
mat the system of mpost duties which il establish.
ca may be regarded as the permanent policy of the
country, and that the great interests affected bv Il
may not again be subject to DO njurously disturbed
as they have heretofore BEEN by frequent and son1o
times sudden changes.
ror inc purpose of increasing the revenue. and
without changing or modifying tho rates imposed bv
the act OF 1876 on the dutiabe articles o,,booJ -:
It's provisions, again recommend IN vour c,yor,li,
consideration the expectancy of levying a revenue
duty on tea and coffee. The policy which exernn,od
thesc articles from duty during peace. and whom
inc revenue to be derived from them was not need
eu' ceases TO exist when the country is engaged in
war ana requires the use of all its available resour
ces. IL is tax which would be SO generally d;f
fused among the people, that it would be felt On
p'eSSNely by none and be complained of by none
IL Is believed that there arc not i'm the LIST NJ in;
ported articles, any which are more properly the
subject OF war duties than tea and coffee
III Is estimated that three millions ofdollars ,voujd
on these articles 'f"'eu
Should Congress avail ITSELF of this additional
source OF revenue, not only would the amount of
.e puOilc loan rendered necessary by the war with
mexico De diminished to that extent but the pub
lie credit, and the public confidence in the abty
ana determination OF the government to meet all lis
e'i,eh's promptly, would DO more firmly es
tabllshed, and the reduced amount of the loan tyb;
II may be necessary to negotiate could probably no
obtained at cheaper rates f-' W
congress Is, therefore, called upon to determine
"hether IL is wiser TO impose the war duties recon
nonded, or, by emitting to do So increase the pub
Tic debt annually three millions of dollars so ionp .
20 ol"S Snail De required TO prosecute the war; and
afterwards provide in some other form. TO nav the
SEMI annual interest upon it, and ultimately IL o.
lngulsh the principal IT, in addition to H. 10 ,