Richmond palladium. [volume] (Richmond, IA [i.e. Ind.]) 1839-1854, 1848-02-16

OF PENNSYLVANIA.
Walkers Treasury Report exploded.


We give below Mr.. Stewards speech in
the House of Representatives. on the l 1th
of January, in which he controverts the
statistic al statements of the report Of the
Secretary of the Treasury. Mr.. Stewart,
taking Mr. Walkers own reports as the
basis of his estimates. has shown that the
Secretary's late annual report is full ofer-
ror and rnisstafement:
! rise for the purpose Of examining a
recent report Of the Secretary of the Treas
ury, which has been lauded here and else
where as 1.-the greatest production of the
age;'' a document which has been printed
in the German, and in | don't know how
many other languages, and has been pro-
fusely circulated among the people; and
it is working in every direction that effect
for which il was intended by misleading
and deceivino the people on the subject Of
the tariff OF 1916. will here say. in my
place. that never did an official paper en-
anate from any civilized Government in
the world which contained SO many. fuse
hoods, Ct cannot use any milder term
falsehoods SO numerous and 50 gross.
Falsehoods, not in hundreds or in thous
ands misstated. but falsehoods in millions
and hundred of millions OF dollars. That
its statements are false | am prepared to
prove from the Secretarv's own reports. |
will show from his own figures that he has
fallen into mistakes. or misstatements of
the truth. in one case of eghtytwo mil
lions: in another instance of one hundred
and seventy five millions: in another OF
four hundred and one millions, and in an
j, 4 a.
millions do not say. | will not positively
charge. that these misstatcments were
made with design: with that question it
belongs not to me to meddle; but say
that his own figures prove the fact to be
so. will give the Secretary's own fig
ures, exposing their gross, their palpable
misstatements. book and page. and pray
gentlemen to take them and show them to
Mr.. Walker. and let him deny or explain
them away If he can. This wonderful ct
fort of financial ability, this greatest pro-
duction of the age, is SO replete with mon
strot1s errors that it is not wonderful that
the honorable Secretary should have faint
ed { as he is said to have done) under the
amazing task of producing them and en-
deavoring to put them forth truth. Sir,
it is an easy thing 10 prove the truth to be
truth is too great for even the sublime gen
JUS. the herculean ability of Mr.. Walker
himself; and | say it is no wonder he
tainted under the attempt.
Sir, the honorable Secretary has in his
report three great objects in view. The
first is TO prove that low duties always pro-
duce increased revenue; the second is to
to prove that the reduction of duties has
Oh oduced not only an increase of imports
but of exports. and especially of the cx-
ports Of breadstutls and provisions; and
the third is TO show that, by reducing the
duties and increasing imports. he has ben
Gifted the farming. mechanical. and man
ufacturino interests of the country. Yes.
to show that importing foreign goods by
millions on millions, and sending money
out of the country to pay for them, is the
way to help the interests of American Ia
Dor! Yet SO says the Secretary.
The first position this report attempts to
establish is that his project of reducing
duties has produced an increase Of eight
millions of dollars in the revenue. So
far is this from being true, or anything like
the truth. tha: | will show that instead of
bringing into the Treasury eight millions
more. it has actually brought $7,2O2 ,657
less than would have been received during
the last year, had the tariff of 1842 re-
manned in operation; a blunder of the
small amount of fifteen million of dollars
in single year.
If gentlemen will look at the first pages
of the three last annual reports of the Sec
retarv. they will find that, by his own
showing. he tariff of 1912 produced, in
1845. so7.5,,,3,11o: in 1916, SEQ, 712 ,667,
and in 1917. \ der Mr.. Walkers tariff of
1876. he received only s23,747.86i, al
most three millions less than was received
in 1916. and nearly four millions less than
in 1845. Now, sir, by looking at the late
report of the Secretary, Ii appears that
last year we imported about tea and half
millions more dutiable goods than. IN 1845
which, at thirty-two per cent. the average
duties under the tariff of 18I2, would
Weld S3,416. 400. which. with the excess
received in 1645 over 1847, S3,718.238,
makes 81 .2O2.657 more revenue. which
would have been received if the tariff of
1919 had not been repealed. This is
mathematlcaliv true: and yet in the face
of these facts. the President and Secre:a-
nv say the revenue has been increased
more than eight millions OF dollars,
In his report of last session liz gives his
own estimates for the proceeds ofthe pres
emf or last year (1s47) at s27, 835.73i;
yet it has actually produced but sos.147.-
864. more than four millions less than his
own official estimate. Yet both he and
The model President say that the tariff has
more than realized the most sanguine
hopes of its friends! | confess | do not
comprehend statements like these. Per-
haps the Secretary may explain them.
Now as TO the modus operandi, the leg
erdemain. the sleight -of-hand by which
falsehoods are made TO appear true, the
plan by which he attempts 10 make it out
that he has received more revenue under
the tariff of 1916 than was received un-
der that of 1S42, How is this done. 1t
is done by cutting up the years; taking
few months of one year and four OF five