American Lancaster gazette. [volume] (Lancaster, Ohio) 1855-1860, 1858-12-16

= = %
...---...AH.llallllIllll l-I.a.n-.l
, IN sOmHrrt,s md manufacturing enterprises, and
the ooqststoa OF railroads and other works Of pub
tic aud prifas improvement prosperity viii again snIl
Throughout ths Asd IA isi vaia however 10 disguis
nc sSai at sPesnlative inaatoh
or countries, whose manufactures come into
Nith our oSn must sset produce disastrous results
ibition, can pfevept these evil consequences
connection with this subject, II is proper 10 refer
Sse sSe,sl condition The saiee saa.es which hay
have SO rNduced ihe amount Of imports nom ioreiE
countries, that the revenue has been Inadequate
the deficiency Congress- by the act Of the 2i fDecen
ber 1871 authorized the issue bf S, Of
notes and this proving inadequatO, they Authorized, =
the act ofJuno l4th 1865, loqn OF $4,000 00O tto
applied TO the payment of appropra tiOns made bylaw
No statssman would adviss that We should 60 on Id
creasing the nationaldet the Ordipary expeh
ses Of the government This would be most tSinou
policy In case Of war, credit must be chief 10
source, at least for tho first year and this would b,
greatE impaired BY having contracted aige debt n
time Of peace IL sour true policy 70 increase our reve
nue so as TO equal expendites II wonld be ruin
observe that the Incidental protection thus Afforded b,
q revenue tarin would at the present moment TO sons
extent, increase the Of the manufacturing in
terests, and give fresh impulse TO reviving bus
ness. To this. surely, no person will object,
regard 10 the mode OF assessing and collecting du
S ~: under s,Isi IovslSs tariff have long sPtsTt.in
require this should be done by specific duiies in
20 which these be properly applied. They are well
weight or By measure and which, from their nature arc
of eqna or Of nearly equal value. Such, for example
are the articles Oon Of different classes, sugar and
In my deliberate Judgment specific duties are tbs
best u not the only means Of securing the
gainst false and fraudulent invoices and such has been
tho practice adopted for this purpose by other
ra nations. Besides specific duties would afford the
American Manufacturer the incidental advantages to
which he is fairly entitled under tariff. The
present System Isl sliding scale to his isadyantage
Under IT, yhen prices are high and business prosero,E
ne duties rise n amount when he loAst Tequre their
aid On the contrary when prices fall and he Is srug-
CLING against advefsty the duties dminishcd In the
same proportion, greatly to his injury. r
biduly iia that ended BY tongress conid be law
ed In The form Of specific duties. II would be eas,
70 ascertain the average value OF any imported art
ele f0f series Of years; and instead ofsubjectnR
TO an ndvaldtcin duty nt certain per eentum
substitute In Its place a1 equivalent specific duty.
ny such an nrsangem?nt tie consumer would moi
more duty On gitch article in year; but II so he
would pay lltte luss III ,ahUhot and in few year.
these would counteTbRlahee each 9th or, and amount
to the thing, 80 far as hIs Interest s
this ineon tenence would be trihng, when coLtras,
ted withtho additional aecurty thus Afforded against
frauds upon the revenue IN which every consumer "a
ihaYo throw out i6sse shkeesl6ha Ii iiIsffuit Of
my own observation, 20 which Congress their bet
terIuogemen'iWp give such weight as they maylus,y
The report ofyhs Secretary o. Tho Treasury viii ys.
plain IN Detail the Operations OF that doDafneff Of
the government The receipts into the treasury from
AL sources do ring the fiscal year ending the 3Oth
june, 1854, including the treasury notes aahor 20
blythe act Of December 49, 1851, were seventy mil
lion two hundred and seventy three thousand eikhI
hIDdTed and seventy dollars aud Ay mine cents
ts7p,7370, 5n) which auonnt, with the balance OF
seventeen million seven hundred aud ten thousand
and one hundred and fourteen dollars and twenty
seven cents 27, remaining In the treas
nfy a. AZ me eonmencement o. The yeur, made an ag-
million nine hundred aud eighty three thousand nine
hundred and eighty ihaes dollars and OghtJsx cents
The public expenditures during tho nscal year on
ding une 30, 1853, amount to eighty-one million
ave hundred and elgbty-1yc thousand six hundred
aud elxty seven dollars and six cents
Se5 ,607 16) OF which nine million six hundred and
eighty -four thousand and thirlyseVen dollars and
ntnety-nine cent?, ($9Gs4,5 ,537 9O,) applied 10
the payment oftho public debt, and the edemptIon
Treasury notes With the interest therein, leavl
~ ibe Treasury Julyl 1853 being tho COMMENCEMENT
"nS Q" o 'SS S million three hundred
dollars and ten cents, 4, 30, ,3I0 I0) H IT 4 80
The receipts into the treaury, during the first quar-
te OF the present fiscal year. mehcng the LIST Of
July, 1850 Including half Of the loan Of twenty
miliiohs Of dollars with the premium uEon t,authoris
zed by The act Of l4th june 1853 were twenty-five
millions two hundred and thirty eight hundred
and dollars and forty six cents
10 cents and the Estimated receipts for the remaining
three quarters Of the both June, ls50, from ordnary
sources, are thirty eight million Ave hundred thou
sand dollars, @ 500 00O making with the balance be-
fore stated an aggregate ofseveny million one hun,
uIou tWoHty-nlno lHOuhnnd one hundred 0u1
ninety hve dollars and nfy.sx cents, los 56
Thcestimatod expenditures the nrst guarter Of The
present fiscal year were twenty-one million, seven
hundred and eighty thonBand, one hundred aud niuO-
yelght dollars aud any cents (9I 7Os s 5iJ or
which one million and ten thousand, one hundred
and iory Two dollars ond thirty cents( OOI42
SOwere applied 10 the payment Ofthe public debt and
me redemption oiihe TREASURY noes aud tho interest
The Estimated etpepd,,ure. :. during The ,om,,n,,.
three quarters 10 the 9Oth June 1856, are any two
million, three hundred and nfty thousand ak
hundred and ninety eight dollas and forty cents
tS25S7 fe6 4s, making aggregate of seventy
mion,sixty five thousand ,eght hundred and ninety
SIX dolIaTs and ninety nine cents, 800 9g) be-
Ing an axeess OF expenditure beyond The estimated
receipts into the Trensuay from ordinary sources, du
ring the hscal year TO tho 3Qh june 1852 OF three
million, nine hnndred and thlrysix thousand seven
.s hundred and one dollars and forty.thrce CENTS
Extraordinary means nrc placed by law within tho
command OF the Secretary OF the Treasury by the re-
the balance OF the loan authorized by he act or the
18th Of June 1885, 10 the extent Of eleven millions OF
dollars, which II realized during tho present fiscal
year, VIII leave balance In tho Treasury, on the
drst day Of July, 1850, ofseven millions sxythFee
two hundred and ninety elghi.dolars and
my y-seven cents, 7O05, ,20e 57.l p = htr
The estimated receipts during tho next fiscal year
endlng the 3gih June, 1890, are sixty two mlons or
toiiars, (6a 200 900 which with the above estimated
balance ofseyen million sixty throo thousand two
hundred and ninety y-eghty dollars and ifty-seyon
sens, (7063 o0s 57 make aggregate OF the service
y the next fiscal year, ofslxty;nine millions, sixty
md nny-syen cents, lB0, ,O63 ,gOs 57) The estiina
90 expenditures during the next fiscal year |
'ndingt9Oth Jnne 1900, are seycnythree million ono
lundFed and thirty.nne thousand one hundred and |
dollars and forty six cents (33O,l47 46
which leaves deficit Of estimated means compaie cd
.lth !he estimated exPendi,nres for that year, com:
nencing on the 1st ofJnly, 1889, of four million and
twenty-five thousand eight hundred and forty eight
'ollars and eish.y,ni ne een,s, tt,O7ss4s s0)
require from the treasury for the service
)nice Department, three million eight hundred and
hiry eight thousand seven hupdrod and eight
loilars, Sh 72hl as explained In the report Of the
Secretary ofthe TteasuFy, which VIII increase the es
mated deficit on the p0th june 1860, 10 million
llne hundrea ana fourteen thousand hyo hundred
l0O r'p ri ~ '' |
TO provide for the payment Of this estimated de-
lciency, which will be Increased by such appropra-
Ions may DO made by Congress, not estimated 10,
the report OF the Treasury department. as well as
o provide for tho gradual rcdempton from year TO |
ear the outstanding treasury notes. the Secretary
4 tho Treasury reccomm ends such revision of tho
'Iesenttarn as Will raise the required amount. Aer
What have already said, need scarcely add that
he public debt should not be increased by an additional
oan, and would therefore strongly urge upon Congress
he duty ofmaklng, atthcir present session tho nee
sahry pre- yision for meeting these liabilities.
The public debt on the 1st Of July, 1883 tho com
neneement OF the present fiscal year, 2S, 077
During the ar.. quarter oftho prosent year the ,um
y 900 has been negotiated OF the loan author
aed By the act Of the 5th OF June, fascinating the
'rosen outstnnding public debt exclusive ofteasuy
ftreasury notes issued by authority Of the act Of be-
ember ~. making the amount OF actual
Y that date, 5teiO,171 90. Tothis with added l0
)uOOOO during The present ascal year. his being the
emaining half ofhe loan Of 200 not nego
The rapid Increase Of the public debt and the
whleh exiots fora modification OF the tarlsto meet
ven The ordinary expenses OF the gosernment ought
admonsh US all in our respeetye spheres OF duty,
M nhaR nu fana 4 ial