The daily union. [volume] (Washington [D.C.]) 1845-1857, 1852-12-16

technically it would not bear, yet we know that Mr.
Meredith who was Mr.. Walkers successor, put the
same construction upon that ac. which Mr. Walker put
upon II; and we know still furlher-and nobody knows
a better than The gentleman from New York knows
hmself because he co.operaled with me in carrying the
act OF 1850 through this House-hat based sup
por OF the act Of 1850. affirming Walkers circular. and
virtually reversing the decision OF the Supreme Court
upon the ground that Walkers circulars did give the
construction which Congress intended when they passed
the tariff OF 1916 and the act of 1880 urged and
carried through this House by me. as it carried
through The Senate by colleague of mine. Mr. Hun
! TERI upon the same ground. speak with confidence
with regard 10 this House, because presented The bill
here myself, and with the aid OF the gentleman from
New YORK Mr BRoogsl carTedt through; and i was
carried through the Senate upon the same ground as am
nearly quite as confident.
But the gentleman is strangely at fault in respect
the predictions OF the nadequacy OF the tariff OF 1916
bring sufficient of revenue into the treasury
meet the expenditures OF The government for he must
pear 10 mind mat those predictions were never made 50
confidently as by Mr. Meredith in his report OF 1S49
alter these circulars had been put into execution, and
when the tariff act was being administered under the
construction put apon il BY then lie predicted that at
the end OF the fiscal 1851 there would be deficiency
| oi upwards OF $4,000 900 in revenue, and called
upon us to authorize loan. That report went before
the Committee OF Ways and Means. of which at that
time chairman and was listened to with incredu
lity by the House OF Representatives when said that
The whole OF this calculation would be shown by expe
rience 10 be utterly fallacous and that would have
surplus in place OF deficiency The error OF all those
| calculations founded upon an apprehension of a
commercial Tevulson from excessive lmportaons, and
consequent falling OF OF imports and revenue. That
was the fundamental which lay at the bottom
OF all these calculations and estimates Sufficient allow
ance was not made for the fact that under the slim
ulus OF comparative free trade exports would aug
ment as last as our imports And sir, we have SIM
liar unfounded alarms and calculations We told that
but ior the production OF gold in California, with our
| present mporations would have had commercial
crisis. Ii our imports had been large without that
discovery which, in part. afforded the to pay for
them they have snce doubtless such would have
we have from The Atlantic the Pacific and
changed for gold would have amounted if sent abroad,
10 nearly an equivalent amount, as 1t doubtless would
not But had il not been for the settlement OF California,
and the product of gold there, the imports would not have
been so large they have been for the capacity to
sume and pay Tor them would not have been great and
importers import no more, general rule, than they
can sell and be paid for and far from the circumstance
to which the gentleman from New York Mr.. BRooKsl
airdes that the government through It's subtreasury
becoming boarding miser, exciting my alarm, far
commercial revuson is threatened, the is the
case.
II our deposites were with the banks and they made
them the basis of discount then surplus revenue
accumulated the bank accommodations would be extend
ed IN an increasing ratio And they thus extended, the
Imports and consequently the duties and surplus Of
enue. would augment. and this augmentation would be
the basis OF new beginning; and thus 1t would go
In geomecal Ia,io until there crash. But
der the subireasury is quite the The very
camnlaon OF specie in the treasury res,rans the
which, TO large extent produced it, and thus far
our duties will enforce IL, IL is self adjusting machine
/ Mr.. Chairman, am not Of those who have ever
maintained that the tariff OF 1916 perfect, that
was not susceptible of endmen in o lis particu.
lars On the contrary, when | made the speech
which had the honor TO address the House OF Repre-
seDtatves ls46 in favor OF The tariff OF that year,
stated explicitly that there many things in it which
| could wish had been otherwise but took II ne a
whole very great improvement upon the act ot lS42.
do not mean therefore, in opposing the resolution OF
the gentleman from New York, Mr. BRooKs1 10 be
defsiood saying that this act OF 1916 IS, like the laws
OF The Medes and PersiaHs remain forever unallera.
Bile; bat do mean emphacally and explicitly TO say,
that have time this unusually short session OF
Congress TO review our whole system OF revenue and
that bad the time, ia my opinion, II would be
ceedngly undeierential-ifI may be permitted the ex
pessonto the people OF the country, Tor this outgoing
Congress, when lis last hours passing away Tor
this outgoing administration, 10 undertake 10 upset this
whole system OF revenue which has been IN successful
operation during this entire administration, to say nothing
about the which preceded II, and which has more
! Than met the expectations even OF its friends.
MIR. WOODWARD next obtained the floor, but yielded
Mr.. JONES, of Tennessee. who said II the gentle
man from South Carolina will permit me, wish 10 offer
move 10 insert after The word b' ia the amendment
|, of the gentleman from New York, [Mr BRooKsl the
following
Preserving the ad paore principle and reducing
sng duties on imports with view 70 the collection OF no
than shall be necessary defray the eg
mate expenses Of the government economically admins
tered.
| Mr. HOUSTON desire TO inquire OF the gentle
man, whether he offers his amend leni amendment
10 The amendment Of the gentleman from New York
II
Mr. JONES As an amendment 10 the amendment ol
the gentleman from New York.
A MEnBrR. There is already an amendment 10 the
amendment pending
Mr. JONES | understand the amendment offered BY
the gentleman from Indiana Mr. LocKHART TO be in the
. nature OF a substitute.
Mr. WOODWARD Mr. Chairman, this subject has
come unexpectedly 10 me before the committee this
ing, and shall not deain them by entering al any
length into discussion OF the general merits OF the
tariff
am aware That Congress need not. al this short
sion, attempt any general fundamental action upon
this subeet bat is because this is true and because
than that is true IL is because your longest session
is not long enough Tor mature action upon the subject
that am IN favor OF bringing up the question now
am IN favor OF nsuling discussion ~ this body al THIS
session, though know beforehand that no action WILL
result from that discussion desire that this discussion
shall before the country that the popular mind may
be brought bear upon the next session In relation 10
this matter You have time and again propositions
OF radical reform out at the end OF your longest ses
slons Why, do not gentlemen remember--does not my
friend from Virginia Mr.. BAYLYl remember--ihai The
tariff Of 1916 saved from rnnnIng out al the end Of
the session BY its friends refusing the lime OF
The House in debate know declined to discuss u e.
that reason, and that urged II upon others 10 decline
discussion for the know that discussion
IN The Senate declined for that reason, and know
that osiensbe friends Of that bill hoped that might be
defeated by discussion, and were disappointed
Now, was N favor OF the resolution first introduced
by the gentleman from New York Mr BRooKsl the day
before yesterday
II was proposition 10 reduce the duties Are we not
on this side for reduction II proposition 70 raise
special committee for the purpose Wash the Speaker
OF this House boundl do not say as party rnanas a