The Jackson standard. [volume] (Jackson C.H., Ohio) 1847-1888, 1858-12-16

1
ton of our currency, without correspon7
ding initiation in other countries whose
manufactures come into competition with
our own, must ever produce disastrous
results to our domestic manufactures No
tariff, short Of prohibition, can prevent
these evil consequences.
In connection with this subject. it is
proper to refer to our financial condition.
The same causes which have produced
pecun ary distress throughout the country,
have so reduced the amount of imports
from foreign countries, that the revenue
has proved inadequate to meet the neces-
sary expenses os4ahe government. To
supply the deficiency, Congress by the
act of 23d of December, 1857, authorized
the issue of $50, 900, 900 Treasury notes;
and. this proving inadequate, they author
lied by the act Of June I4th, 1858, a loan
of 100000 "to be applied to the
payment of the appropriation made by
law"
No statesman would advise that we
should go on increasing the national debt
to meet the ordinary expenses Of the
government. This would be a most ru-
inous policy. In case of war our credit
must be our chief resource, at least for
the first year, and this would be greatly
impaired by having contracted large
debt in time Of peace. It's our true pol
icy to increase our revenue SO as to equal
our expenditures.
1t would be ruinous to- continue to
borrow. Besides, it may be proper to
observe that the incidental protection,
thus afforded by revenue tariff, at the
present moment, to some extent, increase
the confidence of the manufacturing in
terests, and give fresh impulse to our
reviying business, To this, surely, no
person will object.
In regard to the mode Of assessing
and collecting dutides under strictly
revenue tariff, have long 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 we'll
adapted to commodities which are usu-
ally sold by weight Or by measure, and
= which from their nature, are of equal
or of nearly equal value. Such, for ex'
ample, are the articles ofiron of different
classes, raw sugar, and foreign wines and
spirits
, In my deliberate judgment, specific
duties are the best, ifnot the only means
of securing the revenue against false
and fraudulent invoices, and such has
been the practice adopted for this pur-
pose by other commercial nations. Be
sides, specific duties would afford to the
: American manufacture the incidental
S advantages to which he is fairly entitled
under a revenue tariff.
t. The present system is sliding scars
to his disadvantage. Under it, when
prises are high and business prosperous,
" the duties rise in amount when he least
', requires their aid. On the contrary
u when prices fall, and he is struggling
against adversely, the duties are dimil
,, ished in the same proportion, greatly Y.
: his injury. -
: Neither would there be danger
y higher rated duty than that inYz
:: Congress, could be levied in !
% specific duties, 1t would be5
{ certain the average value ofan
IL article for series of years; AMI
. Of subjecting it TO an adyalor9
. :. acertain rate per centu@, tdsuD
;, its place an equivalent specific d
. BY such an arrangement the cod
W W would not be injured.s II is true
~ ~ might have to pay little more dut y
81 o. given article in one year; bGtff SO, b
" ~ would pay little less in an other -
=" ~ in series Of years these would counhs
= balance each other, and amount to-. =
~ same thing, so far as his interest is con
cerned. This inconvenience would b
triAing, when contrasted with the add
or tional security thus afforded again'
ID ID frauds upon the revenue, in which ever
~ consumer is directly interested.
On | have thrown out these suggestion
uo m as the fruit of my own observation,
cd which Congress, in their better judgmen
las will give such weight as they may just
90 deserve.
on The report of the Secretary OF Il
be Treasury will explain in detail the oper
,lr tions of that department. The receip
mi into the Treasury from all sources, durl
ed the fiscal year ending 30th June, lo5
m. including the treasury notes authorize
by the act Of December 23, 1858, we
,vs seventy million two hundred and scvent
me three thousand eight hundred and sixt
a.. nine dollars and ffty-pine cents, (S7C
,,n 373, 500 500 which amount, with 7
bp balance of seventeen million seven hui
IN dred and ten thousand one hundred al
10 fourteen dollars and twenty-seyen cen
En-. ($l7,7l0, ,11427,) remaining in the trea
az ury at the commencement OF the YET
I'M. made an aggregate for the service of t
NIB. year of eighty-seven million nine hu
nv dred and eighty three thousand nj
,ow hundred and three dollars and eight
six cents, 1887, ,9S3, 903 SGD
I'M. The public expenditures during t
mi. fiscal year ending June 80, 1858, amour
inc ed to $S1 ,5S5 ,667 rs, of which 1868
the 537 SO were applied to the payment
oy the public debt and the redemption
uld treasury notes, with the interest theret
the leaving in the treasury, on July l, Isl
ion being the commencement of tho fs