Ceredo crescent. [volume] (Ceredo, Va.) 1857-1861, 1858-12-18

discovered that this capital can be prostably
employed in commercial and man ufacturipg en-
terprises, and in the construction Of railroads,
and other works Of public and private improve
ments, prosperity will again smile throughout
the land. II is vain, however. to disguise the
fact from ourselves, that speculative imitation
Of our currency, without q corresponding inAa-
ton in other countries. whose manufactures
come into competition With our own. must ever
produce disastrous results to our domestic man
ufaetures. No tariff short Of absolute prohibi-
ticn can prevent these evil consequences. In
connection with this subject it is proper to re-
fer TO our financial coalition. The same causes
which have produced pecuniary distress through
out the country have so reduced the amount OF
imports from foreign countries that the revenue
has proved inadcquate to meet the necessary ex-
pcnses Of the government To supply the de-
6eicney, Congress, by the act Of the 23d OF De-
ccmber, 1857, authorized the issue Of S20 .O00,-
900 Of treasury notes and this proving made
quate, it authorized, by the act Of june 1ith,
1858, loan Of s20OOO.OOO, to be applied to
the payment Of appropriations made by law.
No statesman would advise that VIC should 90
on Increasing the national debt to meet the or
binary expenses Of the governs,ent. This
would be most ruinous policy. il would be
ruinous to eontinue to borrow; besides, il may
be proper to observe that the incidental protec-
ton thus afforded by revenue tariff would at
the present moment, to some extent, increase
the confidence Of the manufacturing interests
aud give rrc.a impulse to our rcviving bust
ness. To this surely no person will object. In
regard TO the mode Of assessing and collecting
duties under strictly revenue tariff. l have
long entertained and often expressed the oPin-
ion that sound policy requires this should be
done by specific duties in cases to which these
c,n be properly applied. They are well adapt
cd to commodities. which arc usually sold by
weight or by measure, aud which, from their
nature. are of nearly equal value. Such. for
example, arc the articles or iron Of different
classes, raw sugar ani foreign wines anl spirits
In MY deliberate jul :menf, Specific duties arr
the best if not the only means Of sccuTin. the
revenue against false aud fraudulent invoices
aud such has been the practice adopted for thi'
purpose by other commerriaI nations. Beside.
.Ierife duiie. would aaorl To the Amerie.r
manufacturer the inriIcnisl advantages ns.
he is fAirly entitled. - Fancy 5io whisi
the Esif,.- u,ual .<s~-sumer revcnus tariff
;:.s. ';s: &: 'is !. .'ss :s.:: ;:t
when he least requires their aid. On the con
trsry, when prices fall. aud he IL stra2siiac
against aivcr-ity the duties arc di,ninishcd ir
the same proportion. greatly to bis injury
Neither would there bc danger that h'shc
rate Of duty than that Intended by ConSres
should be levied IN the form OF spcctuc ouues
4 IL would be easy TO ascertain the average vsiu
Of any imported article for a series of years
anl instead Of suhjeetinS it to an advaicreH
duty at u certain rate rer centuin. to substitut
in it, place au equivalent spcrihc duty. B
such an arrange e,nent the eon,unicr would ~
bc injured. IL /. true bc might have 10 pay
little more duty on a given article in one year
bat il 50, he would pay little less in anoth'
and in n ,cri>s Of years these would counter
balance each other. and amount 10 the sam
thinc. - far as his inicre-t il concerned Oh
Inconvenience would be irihins when contras
cI with the sIjirionsl security thus aforje
against fraud. upon the revenue, in which eve'
consumer is directly interested. ! have iLrow
out thee suggestions q. the fruit Of my on
observation. o. which Congress. in its bcit
judgment, will give sreh weight ~ il may just
: deserve.
In relation 60 the transit route across q
i-thmu.. the rre-ident ssy- the government b
no objection to demand for fair eompcn-
ton. but insists that hereafter the route sh'
: no, b; elo.eI by an arbitrary decree Of the go
crnment of Nicaragas. lie recommends To
= grcs- to pass \ Law. authorizing him % smP''
!, force 10 prevent the obstruction or elo ins
!, the transit by lawlcss violence. y similar o
ec.-iiy exist. for the projections of the Pana'
|, Tehusntepec routes.