Vermont watchman and State journal. [volume] (Montpelier, Vt.) 1836-1883, 1853-10-13
The Tariff and the Revenue.

s255. O0O.Ot0. and our revenue from this source
TO S5S9O0.OOO The revenues from public lands
and other sources, swell the amount TO S6l OOO,-
600. 1t also appears that there is now in the
Treasury surplus OF some S3OUOU,UUU, ana TINS
surplus is on the increase.
These facts furnish us abundant matter for re-
Election. Whether can afford to pay for such
heavy importations, is question of the greatest
Imarntude. Our imports for the last year are IN
round numbers, $40, 100000, more than they were
the preceding year. The large increase Of gold
from California and Australia will avail us but
little It we are to send the greater part of 1t out
of the country to purchase art Giles of luxury,
winch increase extravaganza, engonder idle
ness. We should also remember, that though
our stocks and public securities, which are sent
abroad may enable US to import thus heavily,
when the day of payment shall arrive, our specie
must be sent forth to redeem our securities.
But our principal object in this article Is to
consider the effect ofthls accommodating revenue.
That surplus revenue Is an evil, will readily be
admitted by every man capable Of forming Just
estimate upon the subject One of the most oh
vions evils Of plethora in the treasury is, thatit
leads to prohgacy in expenditures We are not
among those who fear a large appropriation of
public money by Congress, provided the objects
for which it is appropriated are truly OF public
interest and the money be judiciousy expended
But the very fact that we have surplus IN the
treasury. almost necessarily leads TO extravaganza
and proAigacy both in relation to the objects for
which the money is granted, and the manner in
which the expenditures are made. With an
overhowng treasury, schemes OF the most wild
ard visionary character will be devised, and
Congress will be beSleged by the hired agents of
these schemes 10 induce them to make approprl-
utons to carry them forward. Claims will also
be presented which have slumbcred for years.
whose merit consists mainly IN their age; and
no efforts will be spared in obtaining grants for
their payment
This mode of obtaining appropriations is now
reduced to perfect system. Agents are employ
10 spend the winter in Washington, to intcrcede
for the applicants claimants and no pains are
SCARED to enlighten the members of Congress or
the heads of the bnreauX on the subjects 10 ques-
ton. All the appliances of dining and suppng
of per centagc and dividends will be resorted to-;
land meu IN high places can sometimes be mduc-
ed 20 act agents or give the subject special
attention, and thus secure a favorable result
4 surplus IN the treasury will naturally give an
impetus to this mode Of proceeding, and do
more to corrupt the fountain Of legislation than
any other If this we're the only objection 90 a
surplus revenue, It would afford a substantial
reason for taking early and efficient measures to
prevent it IN future.
But with our present sub treasury system,
there is another important consideration which
subject The S30,O00,0O0 Of surplus Is taken
from the circulating medium, and is locked up
where it Is as useless the talent Of the I'M
profitable servant hid in the earth. But this Is
not the whole extent of the difficulty. On our
present banking system m this State, our bills
In circulation are skiold greater than the specie
in the vaults Of the banks. On this proportion,
the : i0,00O0O0 of surplus in the vaults Of The
sub treasury actually deprlves the people # the
United States of circulation equal to
Sle0O0O,0O0. This vast accumulation of specie
in the treasury is undoubtedly one cause OF the
scarcity of money. We are now presenting TO
the world the strange spectacle of paying high
premium for the use Of money in consequence n
The Uasi increase Of The precious metals
But the question which naturally presents It,
self Is, how shah this accumulaling revenue be
checked: The remedy to be applied is perfect
ly obvious. All will say, reduce tho duties to
imports. In this opinion we fully concur But
in doing this, great wisdom is required. Re
have always been an advocate for discriminating
duties. On the constu,ionality and eXpedien-
cy of this policy We are perfectly clear Dis
elimination Is as important and as wise IN reduc-
ing as in increasing the revenue. The same ele
menis should enter into the calculation IN the
one case as in the other The great question
Is what will best stimulate the industry of the
people, and most oilectually deyeope the resour-
ces of the country There are articles on
which the whole duty can be removed, without
any detrlment to any of the great Interests
There is a long list of dutable articles which
should be made free. This should be done at
the present time, for the purpose Of reducing the
, revenue, and also for the purpose OF removing
burdens from our citizens, and of osterlug and
sustaining the INDUSTRY of the country.
,, The first in this list are drugs and medicines.
It would be unwise under any circumstances, to
impose a duty upon medicines for the sick aud
r dying. But to impose such a duty when we
have a surplus revenue would show a spirit Of
barbarsui Another large class of articles now
subject to duty are the articles used for dyelng
aud coloring. Then there is a numerous list of
raw materials used in manufactures, which do
not come IN competition with anything grown
or produced in this country. 10 these we
might add the fruits and the spices. This cata
logue would make some $20,000000 of imports,
on which the duty will now average, say twenty
per cent This of itself would reduce the
revenue "a 100000. Nor is this ALL If the
duty were removed from the raw materials ii
would increase the amount of certain manutac
lures, and this would tend to check the importa-
, ton Of the article, and SO reduce the revenue
still further. For example, if the duty were re-
moved from coarse wool and from dye stuils, It
| would enable our carpet manufacturers to under
sell the foreigners, and IN this way we should
save IN the country a large share of that million
Of dollars, which Is now sent abroad to encour-
age foreign capitalists engaged in this branch Of
d industry. In this way, We should encourage our
n own labor, exempt In some degree our own peo-
a pie from taxation, aud save the treasury from
that plethora which is corruptlng IN It's influence
: The same would apply to the manufactures OF
J. wool and cotton generally. Removing the duty
:, from dye stuff, would do something 10 check i'm
portaton Of woollens and prints and so prove a
, general blessing to onr citizens. Such policy
would De wise and ludcious 1t would save
the Treasury from repletion, encourage our own
manufactures, give employment to our people
and save that drain OF specie from the country
/ which tends to make money scarce, notwith
standing the great Increase of god. Congress;
al the approaching session should take early anC
T, efficient measures to bring about this result
o we are an advocate for protective duties bu
5 not for surplus revenue. And whenever such
l. surplus should exist, with any well grounded
belief that It Will continue, we would recon-
e mend such a modification of the tariff as vii
BRING the revenue TO the wants of the govern
ineht All that we ask, is wise Discrimination
,r IA favor OF our own industry. We would adyo
cate that policy which tends to keep the balance
e ui lrile IN our favor. 1t Is to no purpose tina
m our SHIPS return from California and Australia
Of laden with golden sands, if this is 10 be sen
"A abroad to encourage foreign labor to the depres
sion Of our own.
J. The question is asked what is to be done witt
TO the surplus now IN the treasury We regar,
this as question secondary to the one we hav