Lynchburg daily Virginian. [volume] (Lynchburg [Va.]) 1852-1861, 1857-04-09


receipts Of the Treasury TO a sum only sufficient
10 meet the demands upon it.
Mr.. Hunter, in the same speech from which
/ | have just quoted, says:
''If all this be SO. the only other question which
suggests itself to IN regard 10 this matter IS VIII
the proposed scheme produce the desired qnahuy VI
| revenue2 Upon that point am convinced, from The
examination have given IT, that the danger as mol
that IT will produce too little hui too much ne es
innate of the Secretary of the Treasury Is that Tor
this fiscal year shall have 600 oil revenue
! The general reduction which propose Is about one
fourth will not say that this IS exactly accurate,
bat il is nearly So because the reduction OF the sched-
ules precisely uniform but shall come near
enough tor all practical and approximate purposes
when saw the rcd 8c;ion IL about one fourth. men
YOU come 10 deduct from the 500 600 900 Onefourtb,
it will leave about forty nine or fifty millions but
II Is to be remembered that the amount OF those dn-
ties which has heretofore been laid out in the shape
of price In the consumption of these commodities
will not the less be ny cstei in them when the price II
lower thai it l. fair Ia presume that the consump
ton of these articles viii be increased by the amount
oi the reduction of the duties and .he revenue by The
average rate of duty on them, The present average
is nearly twenty per cent the reduced average
will be about eighteen per cent We shall find, when
come to put this eighteen per cent on the amount
saved in duties but which will nevertheless be lad
out In imports thai the amount of revenue viii mt
least be Gfty-two 6nythre millions of dollars
have n tabular calculation that basis for The year
1855 which gives less OF course, the epts oil
that year less than those estimated for this
But need not go into particulars. give the above
as the round result; and whoever viii takc the pains
TO make the calculation that estimate viii lind that
il IL
" But sir II is obvious that when COM to re-
duce the due5 the consumption will be int reused !
the people will lay out not merely the principal and
the duties heretofore paid on those commodities, but
something more that it is fair to assume that the
revenue from customs, under the reduction which
propose will lie something more than tho estimate
which have given For the same period IL is esti-
mated by the secretary OF the Treasury that there VIII
be sG,000,000 from the public lands, making some
hlty-seyen hity eight millions OF dollars and he
tells that in the Inst five years the average of ex
pendtnre exclusive OF payments Of the public debt,
has been $4,000 600 so that we see that even this
reduction great We eau venture on rs present.
is more apt 10 produce excessive than deficient
revenue At any rate 1t Is far as 1t would be safe,
under present circumstances, to go. believe, how
ever, the day not far distant when II mere revenue
duty OF fifteen per cent our imports will give Us
money tlian we ought to use
From this extract you see the Secretary OF the
Treasury estimates that forty eight millions of
dollars annually is nil the Federal Government
can properly use. Tho reduced tariff bill will
yield fifty two millions-iour millions more than
want-indepcnden OF and without the six
millions which the Secretary estimates as the ro-
eeipts from the public lands. deem it unneres-
snry to say more upon tins three dollar obJeo.
ton
The next Objection urged by nv opponent Is,
thnt by tho net Of Congress of 1917 the proceeds
If tho sales - the public lands pledged for
the payment Of the money borrowed unCrT that
aei and that we owe $4,000, 900 thus borrow
ed. 1t is II sufficient reply 10 this objection la
say TINT the whole debt Of the United Sfntes i.
only $40 $4,000. including Sl3 OOo,WO borrow
cd under the act of 1917, aud that wo have tn"
money to pt,y it nl before the next meeting of
H. tho nuI,l lin
invite your attention To the following extract
from President Pieroe's last annual message
transmitted to Congress on the I'd day OF last
December lie says
"On the 4th of March 1888, the amount Of the pub
lie debt was siXty-niue million one hundred and
twenty nine thousand nine hundred aud thirty-scvcr
dollals. Thee wHsa subsequent increase of two mil
ion hundred and fifty thousand dollars for the
debt of TexAs, making total OF seventy one mill>A
eight hundrcdund seventy nine thousand nine huhd-
rel and thrty-scvcu dollars. OF this, the sum OF for
"a, live million Eve hundred aud twenty live rhousa nj
tlrcc hundred and nineteen dollar, including prcl-
nm has been discharged reducing the debt 10 thirty
million nine hundred and sixty three thousand nine
hundred and dollars, all Of which nj ht be paid
within n year withont cmhArrlS sment the public SIR
,iar"
But, ,atho, than my opponent shall be- di ,tur-
bed upon t1- subject, Congress has ample pow
e. under IT,. Constitution to set apart laud enough
- BAY thu SI3OO0. 900 aud then will have
land enough, Of Vnginia'- ,hare, under my pro-
position, to relieve our State from all her embnr-
rnssments.
The neat objection urged to my proposition ~
that il is anti democratic and ot Federal origin.
That is met and ,tfutcd by the passages already
quoted from the fourth annual message of Pres
ident JaoL son; but it is snid Gen. Jackson
vetoed NJ. CIay's land bill. So lac did, but III
his veto message he says. IN It's second para
graph:
al am fully sensible of the Importance Ms it res
poets both the haliaouy and union ot the States OF
making, Ms soon as eryam =tauces viii aow OF IT, II
proper and Gnal disposition OF the " e subject OF
the public lanls, aud any measure Tor that object,
providing IT the reimbursement oil the tcd states
Of those expenses with which they are Ia5uy charge
able, that may hc consist with my views OF the
/ Constitution. sound policy, and the rights Of the
respective States will readily receive my cooperation
This bill MIR Ch,, = hill oil 1872, however, Is not Of
! that character The Arrangement it eohtempatcs IS
not permanent hut limited Ia Tive years only and III
its terms appears anticipate alterations within that
time Mt the discretion OF Congress, and it furnishes
adequate security against those continued aEi'a-
tons Of the subject whichit should be the Pg"cPli
object Of any measure for the disposition of the pub
| lie lands TO avert
Thus you perceive, my fellow citizens that
what purpose. 10 wit, final and equitable
! disposition amnng all the States of the public
! lands in what Andrew Jackson. the patriot Pre-
sidenf. snd in December, lS;8 would readily
receive his hearty co operation | propose. IN
the frs, place, to equnIiae the grants of lands
among the several States, giving to Virginia. "a
many neros. according to her usual proportion III
tho general charge as have been given t" Hi
nuis and the either favored States, and chen To
divide the residue among all the States, 'hcc1r-
ding to their respective and usual proportion i'll
iLr general charge aud expenditure
Anot Their objccti"n mc, Il Ivy my opponent at