Washington sentinel. [volume] (Washington [D.C.]) 1853-1855, 1854-12-10
THE TREASURY REPORT-REDUC-
TION OF THE TARIFF.

The estimates C1 the secretary VI thc iic"oi
sury make out a balance of nearly twenty mil
lions of dollars at the close Of the present fiscal
year, and balance on the 30th of June, 1856,
the end Of the next fiscal year, Of more than
twenty-one millions of dollars This excess Of
receipts over expenditures exists, notwithstand-
ing the payment of seven millions to Mexico
under the Gadsden treaty, and the payment OF
twenty millions Of the public debt. The anti
cipated balance at the end Of the next fiscal
wear has been calculated since the receipts and
expenditures of the first quarter OF the current
year we're known, and the calculations make
due allowance for diminished imports under
the operation Of the existing stringency in the
money market.
In view of these facts the Secretary OF the
Treasury repeats his recommendation OF last
year, that the tariff be changed with view to
diminish the revenue and prevent the accumu-
laton of unnecessary balances in the Treasury.
The President seconds the Recommendation OF
the Secretary, with the remark that the general
principle of a reduction of duties with view
to revenue, and not protection, may now be re-
garded as the settled policy of the country.
We concur most heartily in the proposition TO
reduce the duties on imports to the revenue
standard, and we insist that the reduction be
made ON revenue, and not protective principles,
in obedience to what the President considers
the settled policy ofthe country.
Every interest should be made to contribute,
as far as practicable, its due share of the ex-
penses of the government None should be
relieved and none should be subjected TO dis
proportionate burthens We, therefore contend,
that in framing a tariff, and in altering tariff
for the purpose of increasing or diminishing
the income to be derived from it. the primary
object of revenue should never be lost sight of
for any other object whatever, unless 1T be the
national defense. When a scale of duties,
originally constructed, on revenue principles, is
found by experience to produce a greater in
come than is needed for an economical admin
istration Of the government, it should be so
modified as to limit the income to the public
necessities. That modification may be made
in two ways; either by reducing the scale Of
duties so far below the highest revenue point
ms TO lessen the custom-house receipts, or by
raising the scale Of duties SO far beyond the
highest revenue point as to check imports to
such a degree as to diminish the customhouse
receipts to the desired extent.
The FIRST of these principles Of reduction
harnonizes with the doctrine of free trade, and
is sustained by the policy of the Democratic
party The second is in accordance with the
doctrine of Restriction, and is maintained by
the advocates Of protection, and Of class legis-
lation. But il frequently happens that the
protectionists do not attempt to place high
duties on all imports, for they do not wish to
embrace more interests than may be necessary
to sustain their policy; and they desire to tax
as lightly as possible those commodities which
they have to use. Hence they agree willingly
~ the imposition Of low duties on some i'm.
ports, and urge the admission of others, free of
all duty. The principle, however does not
vary, for the Proieotionists always seek to i'm.
nose unequal burthens by fostering and pro
teet;pp particular interests through an abuse Of
the power 70 levy and collect duties and i'm
posts
From what we said, it is plain that the man
aer in which the Secretary Of the Treasury
proposes to reduce the revenue is as important
as the fact that he recommends reduction.
He desires 10 reduce the revenue by reducing
the tariff. So far, 50 good; but then he re-
meats the essential features Of his views as
EXPRESSED year ago. In his FIRST annual re-
mort he recommended that the classi6cations
NJ the tariff be reduced TO two, and that all
article. not admitted free Of duty should be
taxed either twenty-five or one hundred per
centuu ON their value. Iron was excepted;
and il was proposed TO levy fixed duty on
that article, the amount Of which was to be de-
termined by the average Of the duties Of the
preceding three years. tr a
The reason for reducing all imports 10 two
Glasses was stated 10 be the greater facilities
with which the revenue could be collected un.
der them. But whilst the revenue could be
collected with more ease under such system,
is Uulh bttHt tttt pAste~et'NA eeJ ~ =
great extent, be abandoned. There are many
articles on which the proper revenue duty would
be greater than twenty-five and less than one
hundred per centum on their value The Sec.
Rotary in his late report recommends three
classes Of doties instead Of two. This is q
mitigation, but not cure ofthe defect, we have
mentioned in the former report. The princi
pie point, however, is to ascertain the articles
which are included in each classification before
we form an opinion as to the effect which thu
proposed alteration would have on the charac
ter Of our Revenue System. We, therefore, leav'
this branch Of the subject for the present.
The proposed additions TO the free list, an'
the principle on which il recommended tina
the addMbns shall be made, are matters 0
vast interest, for they affect most vitality, il
our Judgment the Free Trade policy. TIL
Secretary stated, in his last annual report, tina
the duties derived from the articles he pro
\ "a