The daily Gate City. [volume] (Keokuk, Iowa) 1855-1916, 1858-12-13

nj and - a. Il Il discovered that this espi =
e. = proAtably employed In sonnsssial md nan
uaaetafing enterprises, ssd In ~ eoastrsstiea o
ssaroaas and other works Of pshlis And private In
Rroveneat, pfesPssity will again smile thsoughoa
ms iAsd. = 10 vain, hewssM, 10 Disguise chs fse
From oursslvss, that . speculative imitation Ia on
currency, without cor responding innstiou In eth
g countries whose nanuiactarss cens into oompe
ution WITH or own, muss sver proAues disastrou
results TO our domestic mAsafastsrss. No teri6
snort Of assoists proAibtiea saa prevent these sv
CONSCIOUSNESS.
e sss.ss:ssn With III. ..Asss, I. Is proper tore
which have prodsesd peoaniAry dntrs.s thrsurhou
the country havs - reduced the amount u import
from fssseh eoa1trtss that ~ revsnss hes vfcvs
lnsdsqsAss q meet shs aessssary sxpAsss II Ii.
&. =. !; ~ ,s.sPp,y u. ss1oi:s CssE.s
the issus Of ~ go - u ssassry setss Ana, III.
proving inadequate, tAsy asthosissd. By Ne sst d
June II, 1883, loaa Of ~ 49, coo "to - applied
me payment Of sppsopriations nads By law"
NO ssaessman would adviee that we should
60 on incrsastng the nsitonai debt to meet
the ordinary expenses Of the government.
This would Do most ruineus policy. In
case Of war our credit must Be our cheif re-
source, II least fov the Arst year, and this
would BE- greatly impaired BY having con-
tractsd : large debt In time Of peace. Il l.
our true policy to Increase our revenue 90 a.
to equal our expenditures. II would ~ rain.
Qua 70 sestiaus 70 morrow. Besides, Il may Be
proper to observe that the incidental protect.
ion tins afforded b revenue tasiG would.
d the present moment, to some extent in.
crease the oonAlsnc Of the mauufac,urinr
interest, and give fresh impulse 10 our rsvi.
wing business To fhis, surely, no psYson
will object.
In regard to the mode Of assessing and
collecting duties undsr strictly revenue "a.
rim, have long entertained and often ex :
pressed the opia,oa that sound policy requires
this should be done by specific duties, in
cases TO which these can BE- properly sppli-
Cd. They are we'll adapted 70 commodities
which ere usually sold BY weight OF measure,
and which. from their nature, are OF equsl or
OF nearly equai vaine. Such, Tor example.
are the articles Of iroa OF different glasses,
raw sugar. and foreign wines and spirits.
In my dsliberats jndgnent, speoiGe duties
are the bsst, u net The only nssss or sseus.
Ing the revenue against false and frsuduleu,
invoices. and ssch hes been the practice Al
opted for this purpose b ether commercial
nations. Besides, specific duties would afford
to the American manufacturer the incI1eutsl
advantages TO which be 10 fairly entitled IN
der the revenue tariff. The prsscnt svsssm
s Gliding scale 10 bic dissivassass. Under
II. when prices are high asd business prosper-
Gus, the duties viss In s0ooat when he least
requires their aid On the contrary. when
prices fall, and hs 10 straggiia9 against Ga.
versisy, the duties are diminishsd in the same
proportion. greatly 70 NJ isjusy.
Neither would there b danger that q hish.
or rass Of duty than that intended by Con.
gress. could BE- levied IN The form OF specific
duties. II would - easy . sscsstain the
average value OF any imported article for 4
series OF years; and instead ssbjsctins l. TO
IN I'd vslorem duty u certain rate per cen.
tun. 70 substitute In The place IN sqaivalep.
specific duty.
BY such IN arrangement, Tie Consumer
would not be injured. Il 10 true, he might
have 70 pay little more duty on given ar
ticle In one year; but II 20, he would pxr
litiie lees IN saothss, and In series Of ears
thsss ws0ld eountssAaisncs esch other. and
amount 20 The Same thing. % IT @ HE intse.
est d concerned. Thu Inconvenience vouA
he triding. when ssntfastsd with Tie sAdltios-
81 security thus afforded against frasds upos
the revenue, 10 which every consumer . di.
rectly interested.
! hsvs ihrows oct there suggestions - the
fruit OF my own obssrvstiop. 10 which Con.
grsss, In their bsttsr judgment, will rive such
weight - thsy may JUSTLY deserve.
The report Of The Secretary Of the Trea-
sury viii explain In detail The operations OF
that department OF the government. The
receipts into the Treasury from ill sources
during the fiscal year ending 30th June 1855,
including the treasury notes authorized by the
act Of Dscenbsr -, 1857. were 90. ma
1853, 30, which amount, with the balance Of
ei77lall] ~ renainIsg n Tho treesusy q
the commencement OF the year, made On sp-
gregate FOG the service Of the yssr Of oS7.-
SS5 1888 S6.
The public expenditures das,ag the fiscal
year ending June % 1868, amounted To osi-
b35 .667 rs. Of which % 6S4,6s7 90 were ap-
plisd . ths paument Of he puklie dsbs, ard
tho redemption Of treasury notes with the in
tcrest thesoon, leaving Ia IL Treasury on Ju-
" /, 1858, being the comaencsment of the
present Seal year. o6, o0s. 1i6 10.
The recefpts into the treasury during the
first quarter Of the psssept fiscal year, COM
~ Let July 1855. incladine Sns bali
Of the loan oftwsnty millions Of dollars, with
the premium upon Il. authorized 81 he &c,
Of lAth Junes le6o, vese az SO So A6, and
tuV OoNtsWebSN sWS0eHsS wv t0O ESm0tDI0H
70 the 3Oth June 1859. from
ordinary sources, are oS6 500 900. making,
with the balanc0 beiose slotsa, aud asrrerute
o! ~, l2s. 1876 Sc.
The expenditures, during the Rrst quarter
Of the present nscal yssr were twenty. one |
million seven hundred and eight thousand
one hundred and ninety sight dollars and df-
tv-one csatA 1eok7oA I9Aybl); ef vhich ons |
million and ten thousand one hundred and |
forty-two dollars and thirty-seven cents (ol,- |
l0,l4a.3D were applsd to the payment OF
the public dsbt and he redemption 81 treas
ury notes and the interest thereon. The e. |
timated expenditure. during the remaining |
three quarters To 30th June 1859, are 6lsy-
two miIltem three hunlrsd and 6lty.ssven |
thousand six hundred and ninety Eight dol |
lars and festy EIGHT cents (o62, 81 800. ~,
making IN aggregate Of seventy -four million
Bixty-6ve theuse1d sicht huadredAad ninety
nix dollars and ssniasly-nins csnes (o71, p66,-
sos. 06). being sa1 excess Of expendisure. |
beyond the sslimAte1 recsipts into the trees
ury from ordinary sources, dusine ~ 6soal
year to The 30th June, 1852 81 t6ree uillion |
nine hundred and thirty-six thousand seven
hundred and one dollsrs and forty. three cents |
(o3 ,0a6, 7Ol.A2). Extraordinary means are |
placed by Law within the command Of the |
Secretary Of the Treasury, b. the reissue Of
treasury notas redesned. And b nsgseiatine
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