Preble County Democrat. [volume] (Eaton, Ohio) 1857-1859, 1858-12-16

the government. This would be a most
-~ruinous policy. In case of war our
credit must be our chief resoqrse, at
least for the first year, and this would
be greatly impaired by having contract
ed a large debt in time of peace. 1t is
our true policy to increase the revenue
so as to equal our expenditures.
7 1t would be ruinous to continue to
borrow, besides it may be proper to OBJ
serve that the incidental protection thus
afforded by a revenue tariff, would, at
the present moment, to some extent, in
crease the confidence of the manufac-
turing interests, and give a fresh i'm
pulse to ourreviving business. To this
surely MCPHERSON will object.
In regard To the mode of assessing
and collecting duties under a strictly
rexenue, tariff, Lhaye-le 1gs entertained,
and often expressed the opinion that
sound policy requires this should be
done by specific duties, in cases to which
these can be properly applied. They
are well adapted to- commodities which
are usually sold by weight or by mea-
sure, and which from their nature, are
of equal or of nearly equal value. Such
for example are the the articles of iron
of different classes, raw sugar, aud for
eign wines and spirits. 7na tol -o4
In my deliberate judgment, specific
duties are the best, ifnot the only means
of securing the rcvcnue against false
and fraudulent invoices, and such
has been the practice adopted for this
purpose by other commercial nations.
The present system is a sliding scale
to his disadvantages. Under it, when
prices are high and business prosperous,
IL duties Fise,iH ainount when he least
requires theirraid. On the contrary,
when prices fall, and he is struggling
against adversely. the duties are dimin-
ishcd in the same prr portion, greatly to
his injury.
! Mi her wouldtherc be danger that n
a higher rated duty than that intended
by, congress, could DC levied in the form
of specific duties. 1t would be easy to
ascertain the averagesrolue of any i'm
ported article for n series of years, and
instead of sebjeetfng it to an sdvaleEem
duty at n certain rate perceHtum to sub
~stitute in its plaesaa equivalent specific
duty. apa- aiss rH
Bylsuch an ARA H~sssTrent the eoDsu-
Inner would not bo. ia5ured. 1t is tru
he might have to pay a little more duty
on a given article in, ono year, but il so
he would pay a little. less, ih aRSs&Rs.
and in a series of years these. woplia
counterbaiance each other, and amount,
to the same thing. SO far as his i4terest
; is concerned. This iqconveRienee WOULD
be %trifins, when, coatfasted' with the.
additional secsrity thus afforded against
frauds upon7 the rrvenue, in which cv,ry
t consumer is d4leetly interested,
l have thresER ont these Suggestions.
as the fruit Of Ry own observation, to,
which Gongsess in their better Judgment,
will give such weight as they may justly,
! deserve.
r = Tie report Ct the Secretary of the
TT, asury will explain in detail the OPP
{ cr.tious of shat department. The re-
] C, ipts into The TreaEary from all sources
d ring the fiscal year ending 30th June
1858, including tho treasury notes au-
thorize i by the. act of Dec %, 1857,
n were S10,2I3t so 50, which amount with
: the ba1anrc of 17,1lO,11l'27, remain
ing in tia treasury at the commence
ment of the year, made an aggregate for
the service of the year ofSS7 ,gS3. 903S6.
q The public expenditures during the
= fiscal year On ling JUNE Beth, 1883,
t. amounted to SSIe5e5.667 10, of which
o 50, 6S4;53T 90 were applied to the pay
mont of the public debtand the redciup-
d ton of the treasury notes, with the I'm
:, terest thereon. leaving in the treasury,
: on July /, 1858, being the commence
G nient Of tho present fiscal year, ls6.39S.-
3l6 10 The receipts into the treasury
during the first quarter of the present
e fiscal year. Including one half the loan
e of twonty millions of dollars, with tho
! premium upon it. were S25. $40 46,
r and the estimated receipts for the re-
mining three quarters to june 30. 80,
! from ordinary resources, are S38, 500 900,
making with the balance before stated,
an aggregate of sT0,129, 195 30.
The expenditures. during the e st:
quarter of the present fiscal year, were
sci, 7OS,19S 81, of which 81, 0lO, 142 81
were applied to the payment of the pub.
lie debt, and the redemption of the trea-
sury notes and the interest thereon.
Extraordinary means are placed by.
law within the command of the Secrc-.
tary of the Treasury, byi Il c reissue of
treasury notes redeemed. and by nego-
tiatine the balance of the loan author.
lied by.the act of Juno Il, 1858, to the
extent of S11 ,0O0, 900, which if realized
> during the present fiscal year viii leave
a balance in the treasury on the LIST of
sJuiy, 1859, of 81 ,e63 ,29S ST.
t The estimated receipts of the next
fiscal year. ending 30th June, 1860, are
!, S62. 600, 600, which with the above esti-
mated balance of S7,063.29S 81, make.
an aggregate for the service of the next
fiscal year, of 500. O63, 2SS 81. The es
timated expenditures dur;n- the next
fiscal year, ending Both June, 1S6o,arc
s73,139,147 sc, which leave a deficit of
estimated means, compared with the es-
r timated expenditures for that year, COM
!, meneine on the LIST July, 1889, of$4,-
: 075, 04e SO.
Tn addition to this sum, the Postmas-
| ter General will require from the Trea-
sury, for the service of the. Post Office
Department, s3,s3s, 72s, as explained
in the report of the Secretary of the,
/ Treasury, which will increase the esti-