The daily crescent., 1850-01-02

81, ,6e3 u
WAYS AND MEANs.-The Secretary then pro-
ceeds to the allimportant subject of Ways Sand
Means. Some details are given, for the purpose Of
showing that the resources of the country are am
ple that the estimated deficit will have arisen from
the extraordinary expenses of the war and treaty
with Mexico, and that the justly high public credit
Of the nited States is not endangered by the fact
that in this position Of affairs, loan will be
required
In order to provide for the deficit, the Secretary
proposes that authority be given to raise such sum-
not exceeding Sl6,500,000 as may be found neces-
sary, from time to time, by the tissue of stock
Treasury notes, such terms of interest mot
ceedng six per cent? and repayment as the Presi-
dent in his discretion shall, previous to their being
issued, think iit TO order.
10 provide for the payment out OF the revenue
of the instalment which will be due to Mexico in
the fiscal year ending Both June, 1882, to secure
the raising of fund for the gradual extinguish-
ment of our heavy public debt, and to place the
revenue sure basis Of suflicency for all the
expenditures of the Government, the Secretary
thinks it will be necessary 70 adopt measures fol
increasing the revenue, and suggests that the mos
available means for that end to be found in raj
SihS llie uuties on imports.
In proposing alterations in the existing
Tariff, with view to the augmentation of the reve
| nue., as well as the encouragement of industry thu
Secretary submits series. of propositions whicl
we. will examine more at length hereafter. Hi
propositions are, ls. That Congress has the right
iul power 10 regulate commerce, and levy import
and duties, with the purpose of encouraging ou
own industry; 2d. That all legislation designed t
favor particular class to the prejudice Of Others
to njure particular class for the benefitof others
is manifestly unwise and unjust Sd. That a
every producer in one branch of useful industry il
also consumer of the products of Others and al
his ability to consume depends upon the profits o
his production, it follows that to give prosperity
one branch of industry is to increase that Of tho
rest 4th. Whether we can have workshops t,
work up at least our materials, must depent
upon the question, whether we have or can obtain
sufficient advantages to justify the pursuit Of this
kind of industry.
In considering the last proposition the Secretary
states the circumstances favorable to production ii
| this country to be;
!" 1st. Facility in procuring raw materials. Cd
| Abundance of fuel. Sd. Abundance of food ant
other articles necessary for the sustenance ant
housing of the laborer. 4th. The superior eff
| other countries"
The circumstances supposed to be unlavorable tc
our productions are thus classed:
"1st Want Of capital I'd. DEAFNESS of our la
| Dor compared with that of other countries. Sd
Insecurity by exposure to the influence of violent
and excessive fluctuations OF price in foreign mar
kets, and to undue foreign competition"
After discussing these points the Secretary con
cludes:
All that is wanting is general determination
that industry shall be encouraged and supported IN
the home production and manufacture of iron, wool
cotton, sugar, and other staples, and that th'
legislation necessary TO sustain it shall be firmly
| adopted and perseveTed in."
The Secretary proceeds to state the nature Of tn
notifications which it appears expedient to max
in the existing Tariff, and says that if required,
will hereafter present plan in detail. The pro
posed notifications are, 1st. To raise the rate G
duty on articles similar to our own staples, as o.
cottons, hempeh goods, hemp manufactured, wool
lens sugar, salt, coal and iron ID. To return. I
the system ofspeci6c duties all articles to whic
they can be conveniently applied; Sd. That o
those articles on which an ad valorem duty is re
taned it be levied on the market value in the prir
cipal markets of our own country at the time
arrival 4th. To make the duty on non-enumerate
articles higher than on those enumerated.
WAREHousEs.Lfhe Warehousing system ne,
receives the attention of the Secretary. A stat
ment is presented showing that during the la
fiscal year the expenses of the Warehousing sy
tenn, exceed by Sl94,634 sc all receipts fro
storage, &C. This subject is one of great emba
rassment to the Department, as Congress has N
made any provision for these expenses unless the
are embraced in the appropriations for the expense
of collecting the revenue from customs. The
expenses are incurred without the receipt Of al
revenue whatever; and in order to meet the pr
VISIONS of the act establishing the Warehousir