The southern press. [volume] (Washington [D.C.]) 1850-1852, 1850-12-18

years to come This course of revenue, there
fore, small indeed comparatively, but still, in the
ten years preceding 1913, available for an an
nnal average Of Ss2,9936l6 10, Statement W
should not hereafter be relied upon with any GER
tuinty or to any considerable amount in estima-
ting the receipts Of the Treasury.
Statement X, appended To this report shows,
the nnmber of warrants located by the acts TO
which reference has been made, and the number
Vet to be located, as estimat, from the pay rolls
and other evidences on file, 18th the quantity of
lands in acres, required 10 satisfy them The
quantity of lands sold, and taken from market,
bv virtue Of those warrants. tor the years l847,
lS48, and l849 is H. 727, 742 40 acres, averaging
4,909247 46 acres per annnm, valued at 3d.
81 ,l34 rs, averaging $6,303,7ll SO per all
nun. .
The warrants yet to be presented under these
acts will require 7S922,5l3 acres, valued at
1898 65S, 10. At the above average Of 1909
247.46 acres per annum, over sixteen years will
be required to absorb and satisfy the warrants
vet to be issued, ns estimated, under the several
bounty land acts ! ow la f"rce.
There will then be diverted from the Treasury
from the sale of lands the sum Of 1925 800
dbl, not anticipated at /! date when The reve
nue. law Of SIG WIS enacted. (Sce stateme, I
K)
This state of things imposes upon Congress
the duty of determining whether the laws now
existing, Nth the rates of duties ia posed by
trm on foreign mcrchai disc, will produce the
amount ne essary to deirny the annual ordinary
expenditures Of the Government, and meet punc-
tually the interest on the Tublic debt. The
ability of the country to discharge every Obliga-
ton upon it. if aided by wise and timely legisli-
alton, is unquestionable Ifample provision stall
be- made for the prompt discharge Of annually
accruing liabilities, the public faith, as it has
been hitherto, will be maintained, and the pub
lie credit continued on such basis as to insure
an advantageous and speedy extinguishment OF
the public debt
The system of ad vaorem duties, however
ell adapted to many articles of trade, when ap-
piled to all, without discrimination. restriction,
or safeguard, has been proved by the experience
Of this Department, to be subject to many and
strong objections. It's tendency is to cherish a
spirit Of overtrading greatly injurious to the in
dustry Of our own country in all departments
and, in its final results, fatal to the revenue
Considering this system only in its operation
upon revenue, it is believed that the experience
of the most enlightened commercial nations of
Europe has proved it to be impolitic and unsafe.
Under the operation of the British tariff revised
in 1876, the whole revenue derived from articles
paving ad rdLOrem duties has been only an aver
age of about E36,00O CS2,OO0 dols.) per annum;
in gross receipt from customs Of G22,O0O,0O0
QO5,O0o,OO dos.) being less than one.ftlh Of one
per cent. of this immense income from imposts,
and the evident design Of Parliament was to
make specific duties the source of revenue from
imposts, so far as it possibly could be effected.
A like policy has also always been pursued BY
the other commercial nations of Europe
The primary object to be kept in view in levy
ing duties upon imports is admitted to be rev.
enue. 1t is equally well established MS the
policy and duty Of the Government so to dis
crimnate in the levyng of duties, as, without
falling below the necessary amount of revenue,
to give the greatest encouragement possible to
all the industrial pursuits of our own people.
One feature Of the law of 1916, in the opinion
Of this Department, is opposed to both the con-
trolling principles just stated. have reference
to an equal, or higher rate of duty on the raw
lnateri |, than upon the manufactured article of
which it is composed Such provisions certainly
take from the manufacturer and artizan, that ell
enlargement which tho present ! W doubtless,
TO some extent, was intended to afford and also
check the importation of the raw material to u
degree detrimental to the revenue. The con-
slant fluctuations in prices, and consequently IN
the duties, under any unrestricted nd volorem
tariff, give to the net of 1876 that most objec-
liolmble feature, Instability These variations
giving high duty when least required, and low
duties when prices are ruinous, tend to an excess
Of mportalions, and subject all the products OF
labor in our own country to the frequent and
cnornou fluctuations in the markets abroad
arising from the disturbed condition of those
n,tiols with whom our foreign commerce is
chiefly carried on.
Under the present system, duties are highest
when the article imported is highest, and when
the purchaser and consumer can least afford IL
pay the duty; and lowest when the price of the
article wanted would allow heavy additional
duty to be levied on it. Thus if an article costs
$40, II duty of thirty per cent. would compel al
addition of So if that article falls in value t.
S., then is the duty reduced one half.
That cannot be wholesome system Of taxa.
ton which follows the consumer in hi- pnrcha
SEES. increasing h. s burden when prices are high
and taking it off as prices fall and his ability t.
bear it Increases Ii applied to articles Of sub
sistence, it would operate us heavy tax upon
bread in year OF famine increasing with the
intensity ot the evil. and gradually dis appearing
with tie return ct abundance.
The objection to the present system, from
commercial fluctuations in prices is constant,
forced upon the attention OF the department by
instances of extreme iaequ ,lity and pred ucia
operation. The European rice of iron was, il
: 1870 greatly ABOVE lIl:il WHICH, HIS pTeNcu lO
the last two years If the duties upon bar iron
have been levied in strict accord with iorcig,
cost, they would now be but title more thar
"ne-half Of what they We're in 1876 BY thi'
process, besides the immense injury inflicted
upon domestic industry our revenue is made tt
huctuate with the accidents aud revusions il
foreign commerce; and these accidents anc
fluctuations, which originate abroad, are mpor
ted W tn their attenden mischiefs.
Our revenue, already stated, must bt
mainly dependent on duties on imports. Those
Imports from abroad can only be paid for by
exports made up of the products of our labor If
I'll its varieties, or in the precious metals I
our III ports shall exceed the value of our ex
ports abroad in any given year, to the extent Of
such excess do we create foreign debt. If this
operation be repeat for only a few years. it i.
obvious it will effect the withdrawal from us Of
a quantity Of the precious metals equal or nearly
so, to the amount of the accumulated debt
bringing with it bankruptcy in all departments
of business, consequent inability 10 purchase
foreign goods, and thus, for the time, causing
, ruinous depressio in the recepts into the trea