The republic., 1850-12-03
our acquisition of California, has. to the mutual

|
that it is the duty Of the Government to employ all
the means properly in its power for the purpose Of
causing that article to be imported into the coun-
try at a reasonable price Nothing will be omit
ted on my part towards accomplishing this desira-
bic end / persuaded that in removing any
restraints on this traffic, the Peruvian government
will promote it's best interests while it will af
ford proof of friendly disposition towards this
country, which will be duly appreciated.
| The treaty between the United States and His
| Majesty the King of the Hawaiian Islands, which
has recently been made public, WILL it is believed,
have beneficial effect upon the relations between
| the two countries.
The relations between those parts Of the Island OF
st. Domingo which were formerly colonies of Spain
and France, respectively. still in unsettled
condition. The proximity of that island to the Uni
ted States, and the delicate questions involved in the
existing controversy there render it desirable that
it should be permanently and speedily adjusted.
The interests of humanity and of general commerce
also demand this; and, as intimatons of the same
sentiment have been received from other Govern
ments, it is hoped that some plan may soon be de-
vised to effect the object in manner likely to give
general satisfaction. The Government of the Uni
ted States will not fail, by the exercise of all proper
friendly offices, to do all in lis power to put end
to the destructive which has ragged between the
different parts of the island, and to TO them
both the benefits of peace and commerce
refer you to the report of the Secretary of the
Treasury for detailed statement of the finances.
The total receipts into the Treasury, for the year
ending 30th of June last, forty seven million
four hundred and twenty-one thousand seven hun
dred and forty eight dollars and ninety cents,
($47,42l,74S 90)
The total expenditures during the period
were forty three million two thousand one hun
dred and sixty eight dollars and ninety cents,
(S43, ,OO2, los 9O.)
The public debt has been reduced, since the last
annual report from the Treasury Department, four
hundred and ninety five thousand two hundred and
seventy six dollars and seventy nine cents, $685.
276 79.)
BY the 10Th section Of the act of 2Sth January
lS47, the proceeds of the sales of the public lands
pledged for the interest and principal of the
public debt The great amount of those lands sub
sequently granted by Congress for military boun-
tics, will, it is believed. very nearly supply the
public demand for several years to come, and but
little reliance can, therefore, be placed that hth
erto fruitful source of revenue.
Aside from the permanent annual expenditures.
which have necessarily largely increased, por-
tion Of the public debt amounting to eight million
seventy five thousand nine hundred and eighty
six dollars and fifty nine cents ,O75, $50 5s)
must be provided for within the next two fiscal
years. tits most desirable that these accruing de-
mands should be met without resorting to new
loans
All experience has demonstrated the wisdom and
policy of raising large portion of revenue for the
support of Government from duties on goods i'm
ported. The power to lay these duties is unques-
tonable and its chief object. of course, is to re-
plenish the treasury. But if, in doing this, an in
eidental advantage may be gained by encouraging
the industry of our own citizens, il is duty to
avail ourselves of that advantage.
duty laid upon article which cannot be
produced in this oountry-such tea or coffee
sdds TO the cost Of the article, and il chiefly or
wholly paid by the consumer. But duty laid
upon article which may be produced here
stimulates the skill and industry of our own coun-
try to produce the same article, which Is brought
into the market in competition with the foreign ar
tice, and the importer is thus compelled to reduce
his price to that, at which the domestic article can
be sold, thereby throwing part Of the duty upon
the producer Of the foreign article. The continu
Of this process creates the SKILL and invites the
capital, which finally enable us to produce the ar
ticle much cheaper than il could have been pro-
cured from abroad, thereby benehtng both the
producer and the consumer at home. The conse
quence Of this is that the artisan, and the agricu
turist, are brought together, each affords ready
market for the produce Of the other, the whole
country becomes prosperous and the ability TO
produce every necessary of life renders us ndepen
dent in well in peace.
high tariff can never be permanent Il will
cause dissatisfaction and will be changed II en.
oludes competition. and thereby invites the invest
ment Of capital in manufactures to such excess,
that when changed it brings distress, bankruptcy,
and ruin, upon all who have been mislcd by lie
faithless protection. What the anufacturer wants
is uniformity and permanency, that be may feel
confidence that he is not TO be ruined by sudden
changes But to make a tariff uniform and per-
manent, il is not only necessary that the law
should not be altered, but that the duty should not
huctuatc. To effect this, all duties should be spe
oifc, wherever the nature Of the article is such as
to admit Of il. Ad valorem duties fuctuate with
the price, and offer strong temptations to fraud
and perjury. Specific duties, on the contrary, are
equal and uniform in all ports, and at all times,
and offer a strong inducement TO the importer TO
bring the best article, as he pays no more duty
upon that, than upon Of inferior quality
therefore strongly recommend a modification Of
the present tariff, which has prostratcd some Of our
most important and necessary manufactures, and
that specific duties be imposed sufficient 10 raise
the requisite revenue, making such discrimi-
nation in favor Of the industrial pursuits Of our
own country aslto encourage home production,
without excluding foreign oompotion. II is also
important that unfortunate provision in the
present, tariff which imposes a much higher duty
upon the raw material that enters into our manu-
facturcs than upon the manufactured article, should
be rcmedicd.
The papers accompanying the report Of the Sec
rotary Of the Treasury will disclose frauds at.
tempted upon the revenue, in variety and amount
20 great, to justify the conclusion that it s inn