The republic. [volume] (Washington [D.C.]) 1849-1853, 1850-05-07

AT least, however, it will be said, his
promises as to revenue have been, and
will be, performed. He told us that the
amount of that Hwould 60 on augmenting
every year." under his system of SLOW
duties," in ga ratio at least as great as
the increase of our population" About a
dozen years since, we had "surplus
revenue" so great that, to prevent trouble
in the treasury, we divided many millions
among the States, and, soon after, that
Overlooking treasury was nearly bank
rupt. We now have repetition of the
same scheme of Glow duties," and are
importing largely of silks and other com
modities constituting "capital" that we
are transferring, precisely as we did in
the former days of "surplus revenue"
and the results are soon to be the same
deficient revenue and necessity for
making loans. The receipts Of the trea-
sury of this year have thus far been large;
but seven or eight, and perhaps ten, mil
lions of the amount received, are the pro-
ceeds Of duties collected on goods for
which the nation has yet to pay, and,
when the time of payment shall come, or
when the power to run in debt shall have
ceased, the revenue must fall as much be-
low the level as it is now above it.
Had Mr.. WALKERS fond anticipations in
any other respect been realized, and had
the sale of our products abroad been such
as to "bring back into our country" the
specie exported in l84S; or had it even
been such as to prevent US from going
into debt, their own opponents might feel
somewhat secure in regard to the per-
Torrance of their promises relative to the
revenue; but when every other part Of the
system has been found wanting, they
may rest assured the same will be the
case with this, and that the public reve-
nue. will be added to the, catalogue, al
ready long, of broken promises. 1t can
not be permanently increased by sys-
TEN that diminishes the return to labor,
and that it is diminishing is proved by the
diminishing disposition among foreigners
to come here to sell their labor, and the
increasing disposition among our own peo-
pie to go abroad to sell theirs. Two hun
dred thousand people will soon have left
for California, when, could they have re-
NAMED at home, their labor would have
been thrice more productive.
The Canada Reciprocity bill will operate
as bounty on the labor and land of that
country, and with each and every step in
the direction falsely called free trade, the
power to pay for foreign commodities will
diminish, and the revenue, so far as it is
derived from the import of articles paid
for with our products, must diminish
The subject has been examined in a,paper
by Mr.. CAREY, published in The Plough,
the Loom, and the .AnviI, and the results at
which he has arrived are in such perfect
accordance with the views of our political
friends, that we give them here, DESTROYS
that all may be enabled to understand for
themselves the fallacy of the statements
now put forth by the advocates Of the tariff
of '46 as to the working of their system.
The end is not yet, but the end must come,
as it did under the system of SLOW du-
ties" few years since.
Catoms revenue, derived from the import Of msycAan
dise paid for tcih our exports.