Vermont watchman and State journal. [volume] (Montpelier, Vt.) 1836-1883, 1850-12-05

dred ana sixty eight 0OllaIS anu uinety cSn'',
(S43, 002, l68 90.)
The public debt has been reduced, since the
last annual report from the Treasury Department,
four hundred and pinety-fve thousand two hun
dred and sevensy-six dollars and seventy-nine
cents, Si95,276 79.)
.By the 18th section of the act of 26th Janua-
nv. i547, the proceeds of the sales of the public
lands were pledged for the interest and principal
of the public debt. The great amount OF those
lands subsequently granted by Congress for mill
tary bounties, will it is believed, very nearly sup
ply the public demand for several years TO come,
and but little reliance can, therefore, be placed
on that hitherto fruitful source of revenue.
Aside from the permanent annual expenditures,
which have necessarily largely increased, por-
ton of the public debt, amounting to eight mil
lion seventy-ve thousand nine hundred and eigh-
ty-six dollars and fifty nine cents. 59
must be provided for within the next two fiscal
years 1t is most desirable that these accruing
demands 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 imported The power to lay these duties
is unquestionable, and its chief object, of course,
is to repenish the treasusy. But if, in dong this,
an incidental advantage may be gained by en-
couraging the industry of our own citizens, 1t Is
our duty to avail ourselves of that advantage.
4 A duty laid upon an article which cannot be
produced in this country such as tea orcoffee
adds to the cost of the article, and IL chiefly
or wholly paid by the consumer. But duty
laid upon an article which may be produced
here, stimulates the skill and industry oil our
own country to produce the same article, which
is brought into the market in competition with
no and no fS Tins
PEELED to reduce his price TO that at which the
domestic article can be sold, thereby throwing a
part of the duty upon the producer of the foreign
article. The continuance of this process creates
the skill, and invites the capital, which finally
enables us to produce the article much cheaper
than it could have been procured from abroad,
thereby benefting both the producer and the
consumer az home. The consequence of this is,
that the artisan and the agriculturst are brought
together, each affords ready market for the pro-
duce of the other, the whole country becomes
prosperous, and the ability to produce every
necessary of life renders US independent in war
as well as In peace.
A high Tariff can never be permanent, 1t will
cause dr. satisfaction aid vii be changed It
excites cpsnDatItioa, and thereby invites tie
investment of capital IN manufactures To such
excess, that when changed ii brings distress
bankruptcy and ruin. upun all who have been
mIsed by rs filhiess protection. What the
manufaciurer wan is uniformly and pcrman-
ercy that he may feel confidence that he Is
not 10 be ruined by sudden changes. But TO
make tariff rniiurm and pern,neli il is NOT
only Necessary tha, the law should not be alter
ed, bn, inst the duty shond not luctuate. To
effect this, all dutiss should be specific, whcr-
ever tie nature of ih, ar,Icle IN such 10 ad
NIT of 1t. Al vqlofeHn dut es flucluate vita the
price, and offer si'cng temptations 10 frh4d and
perjury. Specific duieS, IN the CONTRARY, are
equal and unio;m IN all ports, aud at all tunes,
and offer sloug InduccmeGi 10 The importer tn
bring the best aTlcle, as he pays duty
upon That, than up N one Of Inferior qaaliy.
therefore strongly recommend modification oil
tie present tarih, which has Frustrated some OF
our u,ust Important and necessary manufactures
and ,ha, specific duties be imposed sufficient TO
RAISE the requisite revenue, making such DIS
crlmi:ation ~ favor Of the Industrial pursuits of
our own country as 10 encourage home produc.
lion, w.ihou. excluding foreign Competition. Il
is also important that unfortunate prov lsion IN
the present .ariif, which imp ses a much higher
duty ups n the raw material that enters into our
manufactures THAI upon the manufactured artl-
Gle, should be remedicj.
The papers accompanying The report of the
Secretary " the Treasury will disclose frauds
aue' ptsd upon the revenue, IN variety and
mount 90 gre H. as to Justify the CONCLUSION that
1t Is impossible, under any system of ad valuren.
duties levied upon the foreign Cost value oil
the afiicie. TO secure an honest observance AMI
etiec'ual admins ration of The laws. The
fraudulent devices 10 evaie the Law. which have
b On detected by the vigilance If th. appraisers
leave no room 20 douht that similar mpo- iiiuas
no d ovrr d, 'oa large AMOUNT, have been sue
cessiHy practlsed since the enaclnIeAt Of the
~ "a. a
ready had u preJudcial i'll ience upon those en-
gagged IN iorelgn commerce. IL has tendency
to DIVE The honest trader from the hu>in, s, Of
importing, ann to throw III i important branch of
employment into tie baud Of INSCRIPTIONS and
dlsiIolisst men. who C alike regardless OF law
ard HE Obligations OF an oath BY ih' Sc means
the plan inichtons OF Cona ress, IA EXPRESSED in
the law, are Gany defeated. Every mu,,e of
policy ald d0ty, ,icT,fJ sc, inpci me 10 ASK the
earnest affection OF CvDaress to this subject. Ii
CoEgres- shoIid deem IL unwIs- Ia attempt any
Important cii nges III the system of levyiag dr-
ties at Ills scs>sun, II will Orcome Indispensable
to the protection ut the revenue that such re-
medieS, as IN the judgment Of Congress may
III tsgaIe the evils Complained ui, should DC at
once app.eJ.
As be ore stated, specific duties would, in my
opnun,' afford tie most perfect remedy tor this
evil but, 1t yuu should not Concur In This vlew,
tea, as a partial re,neu}. beg leive respect
fully 10 recommend that, Instead OF takins the
Invoice OF the article abroad as "a means OF de.
icrnlniug lis value here. The correctness of
VIII Gu in,olce II is in Macy cases impossible TO
vefiy. the law tie so changed 10 require
home valu ton or appraisal, TO be regulated III
such manner as To give, fn as practicable,
uniformity IN the several ports.
Thefe being no mint in California am infor-
med that The Iaborers in The mines are conpelI-
ed 10 dispose oil their gold dust at a large DIS
Count. This appears To me 10 be heavy and
unjust tax upo. the labor Of those employed in
extracting luis precious metal and l doubt not
you viii be disposed, at1Ie earliest period posi-
Bile, 10 relieve Them IRON 1t by the establishment
Ut mint. In the mean time, assayer's
Office is established there, would respectfully
submit for your Consideration The prnprleiy OF
authorizing gold bullion, which has been assay
Ell al d stamped. to be received in payment Of
Government dues. l canilIt CONCEIVE that the
treasury would suffer any los by such proy-
SION, which will at once raise bullion to its par
value, and thereby save ut an rigntly inform
ed) many millions OF dollars TO the laborets,
winch are now paid In brokerage to covert this
precious metal into available funds. This dis