The Washington union., 1857-04-30

the puDlc circuit the duty imports and thai
the amount of the public debt and the condition AZ
their foreign such TO induce the Stat
to whom these lands belonged, TO convey them 10 b
United States for the express purpose of creating CON-
mon fund towards maintaining the public credit and
thereby relieving the government nom the necessity az
imposing oppressive duties, distribution would by d
minisLng the current revenue create necessity q,
higher duties which il the object Of the cesson 10
prevent.
Ii is opposed upon the further ground that its ess,
would be to the States 10 rely an the denI
government and TO encourage prodgal expenditures un
der belief that the Of payment would he fur
nished from the federal treasury opponents contend
ing that each State should rely its resources and
that no State should contract any debt without pro
ding the OF payment by eyyng taxes in all CASES
where the current revenues are deficient.
That there individuals in the United States IA in
England who would apply the sponge 10 the State debts
is doubt true but it Is less true that in none Of
the States do such individuals constitute respectable
proportion OF the population the only question there Is
how the States best provide the Of payment
Mr. Clay and his party say, by distributing the proceeds
of the public lands the democratic party say by econ
omzing the expenditure and requisite taxation In tho
mean time the result Of this difference Of opinion this
contest between the parties has been to delay the ac
ton Of the States but events are rapidly progressing
and public opinion indicated in the elections estsb
fishing the ascendency of the democratic party The re-
suit of Mr. Cays expedents has been to delay but not
TO defeat the legislation by the States Having ascer,
tanned that Congress will pay their debts the States
therefor.
These remarks are deemed indispensable, in explana
ton OF the present state of parties and Of the proceedings
resulting in the late veto of President Tyler for Mr.
Clay having obtained accidental party majority in
the present Congress- digested scheme of measures in
reference the next presidential election Among them
the bill for distributing the proceeds Of the public
lands 1t argued by his opponents that the distr
button would create deficiency in the revenue and make
it necessary raise the duties imported merchandise
above twenty per cent, the maximum prescribed by the
act of 1888 known the compromise and to gaty
senators representing anti tariff States and because was
known that otherwise it would not be approved by the
President proviso added, forbdding the dstibu
tion in of war, in higher duty than twenty
per cent was levied any article of imported mehan
disc by the act of 1888 all duties wee the LIST Of
July, 1872 to be reduced to twenty per cent on the
value at the place of Importation be paid in cash. and
levied under regulations prescribed by law
There difference of opinion to the effect of this
act supposing that no law prescribing the mode
of valuation had been passed. duty could be collected
Several bills upon the subject of the tariff were reported
to the present Congress but, neither Of them had
been matured temporary act passed. extending the
law it then was, to the lst of August to enable
Congress to mature n bill Mr. Clay's purpose was to
consolidate into political party the advocates of proec
tive duties and the advocates of distribution, To do
this it became Indispensable to get rid of the provision
the act of lS33 reducing all duties to twenty per
and of the proviso of the act of lS4l foridding the dis
tribution long duties imposed higher rate
than twenty per cent This the purpose of the tenn
porary act to which have referred If had been ap
proved then the advocates redistribution could vote with
the advocates of high duties because the distribution
no longer dependent upon the reduction Of duties to
twenty per cent likewise in that case the advocates
for high duties could vote for the distribution because
distribution was no longer coupled with low duties The
President is opposed to high duties and he therefore
toed the bill upon the ground that it was Inconsistent
with the provisions of the act of ls33 and also Of the act
of lS4l The act of 1888 remaining in force instructions
issued to the officers charged with the collection Of
IA
necessary consequence that the duties imports
reduced to twenty per cent the distribution OF the
proceeds of the public land must take place
The effect of this state of things may be to induce the
manufacturing interest to abandon their alliance with
Mr. Clay, and unite with the democratic party in repeal
ing the distribution act, and passing modified tariff BILL
giving incidental protection by moderate discriminating
duties, to important manufactures requiring protection
But it may be that the spirit of faction will control the
dominant party in Congress- their only hope Of elect
ing Mr. Clay to the presidency depends upon aggravang
the present pecuniary embarrassmcnts OF the country
These details exhibit state of political morals dis.
cfedbe to the parties and win be used by those who
are wont to disparagc America argument to verify
their oftrepeated opinions. We give them because
act on the principle that taa is Me bea remedy for ds
dts c and because the intelligent and candid reader
will that they verify what have already said that
Mr. Clay and his party while they affect to be the especial
friends and guardians of the credit of the States are
truth the advocates Of high protective duties and that
their Of distribution is an expedent adopted
the nope vi pontisi 10 DC
OF those who are for protective dues and those who are
opposed to the States paving their debts by taxing them
selves and that the other hand, the democratic
party, who opposed to Mr. Clay, in favor Of
ducng the duty imports to the lowest point consistent
with revenue for economical administration of the
government and that they oppose the distribution on the
ground that they unwilling thereby to create
cessty for higher duties and because they believe it TO
be the duty of the States to levy themselves
pay their own debts.
We believe further that the intelligent reader will
in the facts that have stated something paiae al
though they do not justify the delay in payment of their
debts by the States in default and that considering,
they should do, the of the democratic party in
the coming elections proof that these dsrepuabe
hcts are about TO terminate and that abandoning Mr.
Clay and his expedents the States will apply themselves
to their resources and adopt the to
revive and sustain their credit they will find in these
letters much to excuse the past and to inspire hopes and
confidence for the future No who has not been in
which the people have made, of the trials they have
undergone.
Your bank circulation in 1918 was near As, 600 600
pounds sterling. You then prosperous 1t
duced to less than AZ 600. 900 in ls9 and there was
great distress It further reduced and in 1922
less than 2 000 and the distress was increased and
county meetings called for relief 1t in 1924 and
1925 to "a 000 and again there great prosperity
Again. in 1929 it reduced to less than 2s 900 OOO
and there great Distress and burnings and meetings
to petition for relief In 1886 again increased to
80, 900, 900, and there was return Of prosperity
Again. in ls4l ii reduced to 25 223 023 and there
the deepest distress.
1T such is the effect OF these contractions Of your bank
circulation what have been the effect in the United
States where the depreciation in some States great
to render bank notes comparatively useless and at