Lynchburg Virginian. [volume] (Lynchburg [Va.]) 1829-185?, 1851-12-18
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II. i. Walker at Liverpool.

On the 9th ult., some seventy of the
Principal merchants and gentlemen of
Liverpool, and the members of the Amer
lean Chamber of Commerce, entertained
r. j. Walker, Esq, late Secretary of the
Treasury ofthc United States.at a dinner
at the Adelphi Hotel, in that town. Mr..
Walker says the correspondent of the
London Times, is one of the candidates
for the Presidential Chair, and is favorable
to the participation by British ships
in carrying trade to California. To
him also the British mercantile inter-
ests are indebted for the introduction
of the bonding system, and many amelio-
rations Of tue American tariff which have
proved beneficial to British interests
w. Brown, Ed, M. p, was TO have ia
ken the chair, but from indisposition was
Unable to attend, and VIM Rathbone, Jr.,
Esq, President of the American Cham
Der of commerce, OBLIGATED in his stead.
The Mayor of Liverpool. Thomas Lit
ilcdalc, ESQ, and the Earl of Seton, were
detained elsewhere by illness or engage
mcnts. Among those present we find the
names Oft l.. Cri,tenden, U. s. Consul;
Captain Nye Of the Pacific steamers; Col
Colt, &c. When the President came to
the toast ofthe evening--the health of
their excellent guest-alter paying a
handsome tribute to that gentleman
distinguished Talents and statesmanlise
qualities, he concluded by proposing ar.
j. Walker to whom both countries are so
much indebted for his exertions to pro-
mote commerce, that great bond Of union
between the two branches of the Anglo
Saxon family" The toast was drunk
with the greatest enthusiasm, accompani-
ed by musical honors.
Mr.. Walker replied. It was not to him
AS an humble citizen, now without
power and patronage-they paid their
honor that evening, but to the country
and policy ofthe American Congress, and
to her commercial freedom. The speaker
then entered into series of statistics TO
prove that America, in reducing her taxes
more than one-half at the same time dou-
hled her revenue. Comparing the high
tariff of 1912 wilh,he effect ofthe policy
since 1916. he went on to say that duties
bad been lowered so per cent; population
had increased 19t per cent, tonnage 47J
Per cent: railroads 452 per cent, and Off
cial accounts ofthe frstquarter ofthe fiscal
year, received by the steamer the day pre-
vious,announced the surplus of $500 600
High tariffs reduced the amount of ex-
ports more than imports, excluding them
from foreign ports.
In 1898, American imports doubled the
present rate. Their commerce was not
geographic; it belonged to the world, and
it was singular fact that America and
England We're the only nations whose re-
ceipts exceeded their expenditure. The
surplus should be applied to the extinction
of their debt. Austria, in the last spasm
of financial bankruptcy, attempted to reg
ulate the exchanges by pol cemen. Its
protection was essentially agrarianism. re-
versing the old Roman meaning. The
honorable gentleman derided the threat
OF Louis Napoleon, whom he termed the
Gallo Lopez. The rainbow of peace o.
ver-arhed the Atlantic; and glory. equity,
and good faith would halo the destinies of
England and America. The speaker
concluded by proposing, Prosperity to
Liverpool"