Washington telegraph., 1858-12-22

I 7 n. :
to the payment Of appropriations made ~ law
No statesman would advise that We should 60
on Increasing the national deht TO meet the ordi-
nary expenses Of the Government 1lii- would
b. a most ruinous policy. In case OF war our
CT dit mus; h. our chief resource at lcsl-t for thc
I fret year. aud this wOald be greatly impaired
\ 10y having contracted large debt Ia time "i
peace. Il j. o,ir true policy to incrfsIsc our rev
.nuc ~ to equal or expenditure. II woild
Z ic ruinous to continue TO borrow Blrldts. "
may l,c proper to observe. that the incidcntai
protection thus afforded ly a revenue ai the pre-
s,ut moment 10 some extent. incrta-.' the coni-
dcncs OF the manufacturing Interests. aud give 4
irrrh iinpul--. to our reviving business. 10 thi-
I surely no person will Object
In regard TO the mode of assessing, and collect
in. duties under strict revenue tariff, have
long entertained ard oftrn expressed the opinion
that .olnd policy requires that this should y,
done by specific duties. In eases TO which these
can bc properly applied They well adaP-
ted to cominolitics which are usually sold ly
weight of Nv measure. and which. from their na-
ture. arr OF equal or nearly equal value. Such
~ the articles oi iron Of different classes, raw st-
gar and foreign wincs and spirits.
In my Il hb'rltc Judgment. specific duties are
the bcrt. IL not the only m,an- of securing the
/ revenue against false and fraudulent inVoi-
Co. aud sigch has lycn tiir practice adopted Tor
this parpo>, by 9th r cogimrrciai raiioGs. BE-
si,l,>. specific DATES would afford 10 th' Am RI
can Manufacturer the incilrntal advantages to
,gIich be- IL fairly entitled under 4 revenue tariff.
tn present syric.n is i sliding Gale 10 hi dis
advantage. ju,l,r il. wh'n prc,s ar hieh and
hu-iusr~ pro-pcruuS. thc duties incr asc IN
amount when D., l,ast requires their aid. GA
the coaisary. when prices tall. and he II strIg-
Cling against adYcr~ity. th- dutIcs diminish
e Ia TIN same proportion greatly to his injury.
N.iih. wolld tlIrr bc danger tliat q hi-htr
ra:c of duty than that intcndei ~ Cuusr-r-.
could bc levied ia the form of specific duii,s.
u wuuld h. easy to ascertain tn average yulur
ef any imported article for series of years and.
instead OF sulg ctinv il to al r8iloa iIty
certain rate per crntn. Ia substitute IN IT. place
an equivalent specific duty.
Iiy such an aTTaHg, m,Iit the CONSUMER would
not IT, iniur,d. II j. true h. might have. io pay
little mere duty on given article in y,ar:
but Il -. h. would pay little les IN anuih r.
and in a series of ears thu, Noald count, rial-
ancc each other. and amount to the same thing.
- far ~ his intcr,st i, conc rsied. Thi- inrun-
venicnc. Susid h. iriiing when contrast Il - ii
The additional security thus afforded against
frauds upon n" revenue. in which tyrty cuI-u-
nIcr i dir,ctly lat, rrstgd.
have thrown oIt thr=~c Suggc-tiuas as ths
frIit Of my own observation 1" which Congrc-,
ia their b. TAR Judgment. will give such weight
n they may jI-i!y dc- rvr.
, The D. port of thc secretary Of illr Treasury
viii explain in detail the op ration OF that ,l,.
p partui-nt oi the Gov rum-ni. 1hr rsc.iIi- into
tlr treasury from al during line ii--a.l
a
7iry nutcs authorized ~ the act of u NH. -.
i>57. were seventy millioa two huntr, d ari -,-
vCEty-ihr'r th"g-aul tiEhi huusiIrii aHd -iNty'
niuc 'ini lar and iity-nius. 'uts l>5uz7s~ta q -
= which ainuuui. with thr balance al Sis..I1Iil
q. remaining in tie t'i-iiry az t~ coHiaei.cs-
m'it o. t.'r y.-aF. nial IN as..r -sis ioT tuc
vice ui tn 80 80 .s.iaos ~.
3 The plilic rvp.riiiiur,s during the fscal 5 ~
ending Jurc 80. l>IS, auinuI;,d g. Ssl-5s-i .ElI
70. 81 wlifrh s9.o>i 90 - Wrrr applied To- tht
payment IL the public dot. and ia, rtsir-nir,'iut
of trc.. -yliy note with thr interest ihrr u csy
Ing in the treasury ol JGiy I. ISIS. lrins 90.
coIinenceiaett ui the pr sui fiscal yrsr, ST.
J9s. ..ilG ~.
The rcc-ip:, into 3D. treasury ,luSia- ih- Go
= qulrt,r uf 10" rr--rnt f-c1l year cuia;Eri.ria.
the 1t Of july Lass. inciniif.- o1r hilf 70! ii
= loanof S2n.nin nIu. with the prriniufi t.ppn IL
s-j.Z.;0 >sg -. aEd tie c-imat,d r,cip;- f"'
the remaining ihr"-s laTftr- L. il'' ." J. - Juu'
l>.iH. from ordinary sourct-. nrr B~.inI.u1u
! making with the balance lriur.' stated ai ~
. i;rs gate u .l.g l95 90.
the r. Ffht h-da af % Ssrt S ih 'ii '' ss 81.
> which SI0iuIIZ j. Wcr, applied io the Ia,
p mrri - the public d,lt and The redemption o
y '-timrf ! exp uliiur =. during th- r., ma min.
three quart. h. juno 5pth. 40. arr So go
6sS .. making a-sr,-tatc 1t S14 .gG5 ~s6 -
l-in- uf expenditure. i,s 'sud tl- r-ti
: -ourcr~ during thu ii-cal year to ih- slih q
% iun". ISIS. Il S:i.sSj.sul a. ENiraorlinai1
uiian placed by law within the command e
the Sccrrtary Of ih II a-ury. ~ %" r,.i--ur ii
irtssiiry uuic r, r M H. ausi iy iIiin to
& balance %: tn l1aa author.z Il y tbs at ~ ii
& June. lsjs. u Ia. eNtrn' oi sll.uJ1ubJ. which
1 II aliZgd during the pr -ant fiscal var. vii
ave L.l,ngr "a Tire trashy the i.I~t ,,,
r 81 JUly. 1853. 81 S7.2CI.z"s -.
Tn c-,imated receipts during tiir n.tt ii.ra
yar E,liu- the .'aih jane. lsbt. SG2 npl puu
, which. with The alovr estimated iaiaues. 81
Ss.2Ct29S -. making AZ agr' ..,t. i.rr tl,. -sr
To- vice ui ihr next h-,ul y, ar "i seg.ub5 - -
III s-iImat 4 eVTs sIsiiturCs siuriu. tn. nest -ca
= year ending J1tt jane. IStu. ir. >53IJg.I.5 A.
which leave deficit of e., iiiHatc,l means con:
= Tartd with the estimated ,NPrnditgfrs ,r tia
r year. cuirin'ieing "n the h--t - July ls.'g. u
4; ; iO7J sis -.
= In a,ldt on to this sum. the Pa~tmas ter t.c,
cral will require from tn. treasury i,r iitc s,
vise of the fost-Jiic- j., IsrtIn, ut 50 -..-1.s
explained in ia. import uf th, - or tar, oT ilr
Tr, .sgry. which viii increase the ,@tinat i H..
felt on the 5nih June. l>6D. to S7.gIi-,7G ~
To provide Tor the payment 81 this e-tiuair,
deficiency. which VII 10, incr, ascd liy -ich Al,
! prDpr.aiio.!s Ulay H. made by Cudgrl~- no
estimated for in tn report Of the Tr sist,ry d.
partm, Ht U t. pro, i'll. for tli,. gri.lua
redemption. from year to year. Of the outrian,l
ins treasury note the Secretary ol the Trrnsur,
r, ,comlneildS such revision uI tn present iaTii
as Will raise the required amo.nt. After what
have already -a'l. need scarcely add that
concur ia the opinion cypr -s,d in liis r, part
that the public drlt .lioald not ~. incr a- q,
asditipaal loan. aad would therefore s;rongl,
urge upon Con,rts- th, ,ihty # mixing. af ili, j
pr.-e.It - on. thr ueccssary provision Tor me, 6
ing ih.~. liabiliiic-.
The public dci, the 1t July. ls5S. ih,
/ comm. NJ, incnt Of the prs. Iises,l year. VA
S-j.l5j.sss 90.
During the lint quarter of the prc-cut wear
To" sum nf SlO.n10uDO has l.ecn gutiat.,l -
the loan authorized 10y the act Of 18th Jun.
lSjs. making the present outstanding publ,
debt exclusive OF treasury notes S35. 50 .gT7 90
There the iir-t uf July. IsJs. Of tr,.sisur,
notes issued l,y authority OF the act Of Dec. 70
1857, unrcdecncd. the OF SI9..5i 500
making the amount OF actual indebtedness Al
that date S54.sip.751 6G. To this will lie atl,le,
slO,oJo.OcO during the present fiscal ihi,
being the remaining half oi the loan Of SO. .0OO
900 not yet negotiated.
F.H.. a