The Democratic pioneer. [volume] (Upper Sandusky, Ohio) 1845-1853, 1848-12-29

present as soon as required by law, the
estimates os the receipts and expeni.ures
for the next fiscal year. The expend.
lures as estimated for that year,are $33,.
799, Io2 lS for the interest on the public
debt and $4,000, ,540sfor the principal and
interest due to Mexico on the 3lst Of
May 1885, leaving the sum of s25. .s74, ,05O
35. which it is believed, will be ample
for the ordinary peace
The operations of the tariff act Of i846
have been such during the past year as
TO meet the public expectation, aud to
confirm the opinion heretofore expressed,
of the wisdom of the change 10 our reve-
nue system, hich was effected by 1t, the
receipts under ii into the Treasury, for
the first fiscal year after its enactment ex
ceeded BY the sun Of $5 ,044 ,403 U9 100
the amount collected during the last fs-
cal year under the tariff act Of lS42. eud-
ing Both June, 1876. The total revenue
realized from the commen encement of he
operation on the lst Of December, l846,
until the close of the last quarter on the
Both of September last, being twenty
two months. was $56,654 1853 70, being
much larger sum than was ever before
received from duties, during any equal
period and the repeal of highly protec,
i've. aud prohibitory dut ies--the revenue
has been Observation-Disclosures on the peo.
pie have been diniuished-they have
been relieved from the heavy amounts
with which they were burdened under
former laws. 10 the form Of increased
prices, or boInties paid 10 favored classes
and pursuits.
The predictions which we're made that
the tariff act of 1916 would reduce the
amount of revetue below that collected
under the act of ls42, and would pros
trate the business and destroy the pros
peri,t Of the country, have not been ver-
fled. With an increased and increa ing
re, enue, the finances are 10 highly -four
ishing condition. Agric0lt IRE commerce
and navigation are prosperous: the. p ioei
of manufactured fabrics, and Of Other
products, are much less injnrionsly afe bt.
ed than was TO have been anticipated
from the unprecedens rev1isions CHI
during the las, and present years. hay,
verwhellned the industry and paraly zet
the credits and commerc Of so many en-
lightened nations of Europe.
Severe commercial revulsions abroat
have always heretofore operated to de
press. and often TO affect dlsastrously al
most every branch OF American industry
The temporary depression Of portion o.
our manufacturing interests. .is the effect o
foreign causes and is far less severe thar
has prevailed on all former similar ocCa
sions.
1t is believed that, looking to the grea,
aggregate e of all our interests. the hole
country was never more prosperous thar
at the present period, and never more
advancing in wealth and population.-
Neither the foreign war Ia which we have
been involved, nor the loans which hav,
absorbed so large portion of our capi
tai, nor the commercial revulsions IL
Great Britain in lS47, nor the paralsis o
credit and commerce throughout Europe
in 184S, have affecle ed ibjuriously to an,
considerable extent any of the great in
terests Of the coutry, or arrested our on
ward march to greatness, wealth and
power.
H ad the Disturbances ii Europe moi
occurred, our commerce would undoubt.
edly have been still more extended, and
would have added still more to the ma
tionaI wealth and pHblc prospersty.-
But no,wihs tapding these Disturbances
the operations of the revenue system es'
tahlished by the Tariff Of 1S46, have been
generally so beneGciaI to the governm ut
and business OF the country;thst no chang
ia Its provisions is demanded by wise
public policy, and none is recomme nd ed.
The operations of the Constitutional
Treasury, established by the act of the
9th August. 1916. in the receipt, custody
and disbursement of the public money,
have co6tiuued successful. Under this
system the public finances heve been car
ried through a foreign war, involving the
necessity of loans ardextraordi u ar y
expenditures. and requiru!gdistaht tran.
fers and disbursements, without embar.
assment, and no loss has occurred of
any of the public money deposited
under its provisions. Whilst il has prov
ed to be safe and useful to the govern
,nent its effects have been most bene6.
cial upon the country. II fastened pow
eriul o sectire an exemption from that
imitation and fuctun,lon of the paper
currency so injurious to democratic in
dustry, and rendering so uncertain the
rewards Of labor. and il is believed has
largely contributed TO preserve the whole
country from a CONNIE rcial revulsion,