Republican vindicator. [volume] (Staunton, Va.) 1849-1857, 1857-02-21

THE TARIFF.
SPEECH OF HON. JOHN LETCEER,
OF VIRGINIA.,
IN the House Of Representatives,
February 5, 1857.


The House being in the Committee oe the Whole
the state Of the Union aud having under consid-
Grafton the bi III. X. No. $500 to reduce the duty
ON imports, and for other purposes
Mr. LETgHER said:
Mr.. CHAIRMAN: The question of reyi-
sion of the tariff is always a question of i'm
portance, and one eminently deserving, at
the hands Of tie legislators Of the nation,
calm consideration and dispassionate exam.
ination. Whenever this question has come
before the National Legislature, it has crea-
ted severe struggle and consequent excite
ment, growing cut Of the fact that the in
terests of smaller classes in the community
were arraye1 against the interests of others,
who constitute majority of the people OF
! the United States That contest has been
fought out on various oecasions in our his
tory. Sometimes victory has perchel on the
banner of one party, sometimes on the BAN
ner Of the other. And yet, whenever the
time eame fof adjustment Of the question
each party came into the field with as strong
determination TO contest every inch of
ground, as ii it had never been driven from
its position III a previous struggle. Such
has been the result in the past Such, |
imagine, is 10 lie the result in the present
struggle, FROM some of the Indications that
have already shown themselves.
la the Discussion Of tbs question on the
proson, occasion, shall endeayor to do JUS
tice to all sections Of my country, and all
classes of her people. I shall not seek TO
array here one section Of tie country or one
class of the people against another. I shall
endeavor, SO far as it is possible, to bring
parties together SO that we may arrive at
some satisfactory conclusion in regard to this
important question. ] shall labor to accom-
phsh great practical result which now
claims consideration at cur hands. l allude
to the present condition of the Treasury of
the United States, and tie best means Of de-
pleting il without wasteialness, and without
deranging the finances Of the country.
The tariff Of 1916, which it was predict
ed, at the time Of its passage, would not
produce a sufficient amount of revenue for
the purposes Of the Government economi-
cally administered, has more than realized
the expectations of its author and friends,
as to the amount of revenue that would be
collected under its operation. The Secre-
tary of the Treasury informs rs in his last
annual report, that the surplus in the Treas
airy will be on the S0th of June. 1887, as
estimated by him, So ,345, 222 81. He re-
ports further, that according to his estimate,
the surplus in the Treasury, on the 30th of
June, will amount to the sum of $43, $780,
1902. Are not facts like these calculated
to make an impression on the public mind
of the country, and to admonish all thinking
and rejecting men that financial storm Is
gathering over the land which may involve
thousands in ruin before even that 30th day
of June, 1857, arrives, if some decided
measure be not adopted to reduce the revenue,
to deplcte the Treasury, and to restore to
the business Of the country that specie which
is now locked up in the Government vaults
and Withdrawn from circulation? 1t this
surplus shall continue to accumulate, what.
ask, are to be the effects, when it shall
reach the enormous amount of 81, COO, 0o0,
in June, 1888?
call the attention Of the House to this
matter now, and | appeal to each AID all on
this floor to save this country from COM
mereial revulsion-such as has never been
known in our history on any previous occa-
sluI-d TcFuLsloH hpaico W "iieii .
vulsion of 1886 was small and unimpor-
tant affair." for since the revulsion of that
period our area has extended our interests
have multiplied; our business relations have
greatly increased in magnitude aud impor-
lance; and the result of financial crisis.
therefore, must be more serious and alarm
ing. appeal to all to go with me for the
adoption of some measure which will reduce
the revenue and which will reserve to the
people the right Of retaining in their own
hands the proceeds of their labor. The Gov
ernment does not require for its use these
large contributions, and there is no neces-
sity for abstracting SO great an amount from
the pockets of the people and Withdrawing
it from circulation.
Let us look at the effects this large sur
plus in the Treasury is producing through
out the States. Various schemes of inter-
nal improvements have been fostered by the
Legislature of the thirty-one States of this
Union, and many of these Legislatures have
loaned to those internal improvement con-