Glasgow weekly times. (Glasgow, Mo.) 1848-1861, 1858-12-16

lies are Inc pest, ii not the only ncahs VI
securing the revenue against false and frau
dulent invoices, and such has been the prac-
,ice adopted for this purpose by other COM
mercial nations. Besides, specific dutie'
would afford TO the American manufacturer
the incidental advantages to which he II
fairly entitled under revenue tamil. Ih'
present system is sliding scale 10 his dis
advantage. Under it, when prices are higf
and business prosperous, the duties rise IL
amount when he least requires their aid
On the contrary. ween prices fall, and he ii
struggling against adversely, the duties are
diminished in the same proportion, greatly
to his injury.
Neither would there be danger that I
higher rate of duty than that intended BY
Congress, could be levied in the form o
specific duties. 1t would be easy to ascer'
tain the average value Of any imported arti.
Gle for series Of years; and instead Of sIb
iscting it to an I'D valorem duty 1t certain
rate DER centum, to substitute in its place ar
equivalent specific duty.
By such an arrangement the consumer
would not be injured. 1t is true, he nigh,
have to pay little more duty on q given
article in one year; but if so, he would pay
a little less in another, and in a series Of
wears these would counterbalance each 9th.
er, and amount to the same thing, so far as
his interest is concerned. This inconve.
nience would be triAing, when contrasted
with the additional security thus afforded
agsin., frauds upon the revenue, in which
every consumer is directly interested.
/ have thrown out these suggestions .,
the fruit of my own observations, to which
Congress, in their better judgment, viii
give such weight as they may justly deserve
AMOUNT OF TIE PUBLIC DEBT.
The public debt on the lst of July, 1858
the commencement Of the present fisca
year was 1926, 1887 IS.
During the first quarter Of tho presen
wear, the sum of $40, 000, 900 has been ne
gotiated Of the loan authorized by the &C
of 9Th June, 185S-making the presen
outstanding public debt, exclusive Of Treas
ury notes, $35, 1887 &c. There wa
on the lst of July, 1853, Of Treasury note
issued by authority Of the act Of Deccmbe
%, 1857, unredeemed, the sum Of $l9,'
754 ,SOO-making the amount Of actual in
debtedness, at that date, $54,9 l0,777 66.-
To this will bs added $40, 5000 during
the present fiscal year-this being the re
naming half of the loau Of 500, 0O0, 900 no
yet negotiated.
The rapid increase Of the public debt, ant
the necessity which exists for q modi6ca
ton of the tariff, 10 meet even the ordinary
expenses of the Government. ought to i'd
monish US all, in our respective spheres o
duty, to the practic Of rigid economy. Thu
objects Of expenditure should be limited il
nvmber, as far IS this may be practicable
and the appropriations necessary to carr
them into effect, ought to be disbursed un
der the strictest accountability. Enlight
ened economy does not consist in the refusa
TO appropriate money for constitutional pur
poses, essential to the defence, progress and
prosperity Of the republic, but in taking
care that none Of this money shall be vast
ed by Encouragement, in its application te
the object, designated by law.
Comparisons between the annual s1pen
diturs al the present time and what it wa
ten or twenty years ago are altogether falla-
cious. The rapid increase Of our country
in extent and population renders a CORES
ponding increase Of expenditure, to some
extent, unavoidable. This is constantly
creating new objects Of expenditure ant
augmenting the amount required for the old
The true questions, then, are, have These
objects been unnecessarily multiplied? or
has the amount expended upon any or all o
them been larger than COMFORTS with
due economy? In accordance with thes,
principles, the heads of the different execu.
tive departments Of the government hav.
been instructed 10 reduce their estimates for
the next fiscal year to the lowest standard
consisten, with the efficiency Of the service
and this duty they have performed in spir
it Of just economy.
The estimates Of the Treasury, War
Navy and Interior Departments, have each
been in some degree reduced, and unless ,
sudden and unforeseen emergency should q.
rise, il is not anticipated that deficiency
will exist in either within the present or
tho next fiscal year. The Post Office De.
par,msnt is placed in peculiar position
different from the other departments, and to
this shall hereafter refer.
Invite Congress to institute rigid scru'
tiny, TO ascertain whether the expencss in
oil the departments cannot be still furthoI
reduced; and promise then all the aid in
my power in pursuing the investigation.
JAMES BUCHANAN.