Newspaper Page Text
FEBEKAIi Ui\m
*0*"*
CONGRESS,
?***■ ‘ SENATE, Yfeoaesday, Jan. 11, 1832.
' - REDUCTION ON DUTIES.
The following resolution, submitted by Mr. Clay
on Monday lust, being' the special order, ol the
day, was taken up lor consideration.
Resolved, That the existing duties upon articles
imported from lbreign countries, and not coining
kito cotnpeti i;»n with similar art cit s made or pro
duced witliin the United States, ought to lie forth
with abolished, except the duties upon wines and
*i.!ks, and that those ought to be reduced. Anti that
tlie Committee on Finance he instructed to report
a bill accordingly.
The resolution having been read, Mr. Clay rose
t&nd addressed the Senate, in 3ubs:unce) as follows.
I have a lew observations, Mr. President, and
only a few to submit to the Senate on the measures
now before you, ip doing which I have to ask ali
your indulgence./ I arn getting old; I feci hut too
sensibly and unaffectedly theellects of approaching
age, and I have been for some years, very little in
(he habit of addressing deliberative assemblies
am told that I liaite been the caus<?— the most un
willing cause, if I have been, of exciting expecta
tions, the evidence of which is around us. I regret
it, for however the subf&pt on which I am to speak
pi other hands might be tiiated to gratify oi>to re
ward die presence and t« attention now given, in
mine, I have nothing but iyplain, unvarnished and
‘Unambitious exposition to triak>
It forms no part of my preiiiem purpose, said Mr.
C. to enter into the conslderalionjof the established
policy of protection. Strong in the convictions,
and deeply seated in the affections of a large rnajor-
i.tv of the people of the United States, it stands sell-
vindicated, in the general prosperifyyjn toe rich
fruits which it has scattered over the land, in the
experience of all prosperous and powerful nations,
present and past, and now, in that of our own.—
Nor do I think it necessary to discuss that policy
on til's resolution. Other gentlemen may think
differently, mid may choose to argue and assail it.
If they do. I have no doubt that, in nil parts of the
Senate, members more competent than l am, will
bo ready to defend and support it: My object now
fs to limit myself to a presentation of certain views
and principles connected with the present financial
condition of the country.
A consideration of the state of the public revenue
become necessary in consequence of the near
approach of the entire extinction ofthe public debt*
&. I concur with’you, sir, in believing that no season
.OonM be more appropriate than the present session
-Cr> ,^a O' tri inulrt* saitsttl' to! .V <el-
iusfnKnt of tlie tariff. The public debt chiefly
aros<* out of the late war, instlv denominated ihe
is paid, it can only be done by anticipating the ]>e- j principles. Only three modes shall now be nolic
ed.
riods of its payment, and going into the public
market to purchase the stock. Cau it be doubted j
that
tnkiu 0 „ nl , . . , .. - . <
greater price than its value? Already we perceive j augment tiieni on the protected articles,
that the three percents, have risen to the exlraor-
1st. To reduce duties on articles, m tlie same
at if you* do so, the vigilant holder ot the stock,! ratio, without regard to the principle of protection,
king "advantage of your anxiety, will demand a ] 2d. To reduce them on unprotected articles, and
3d. To abolish and reduce tlie duties on unpro
dinary height of 96 per cent. The difference lie- tec ted articles, retaining and enforcingIke faitlifiil
tween a payment ofthe inconsiderable portion re- collection ot thosp on tlie protected articles.
fo, or three} To the first mode there are insuperable objec-
niaining ol the public debt, in one, tw
years, is certainly not so important as to justify a
resort to highly disadvantageous terms.
Whoever maybe entitled to the credit of the
payment ol the public debt; I congratulate you,
sir, and the country, most cordially, that it is so
near being totally extinguished, that we may now
safely inquire whether, without prejudice to any
established policy, we may not relieve the consump
tion of the country, by the repeal or reduction of
duties, and curtail considerably tlie public revenue,
fn making this enquiry, tlie first question which
presents itself is, whether il is expedient to pre
serve the existing duties in order to accumulate a
sat plus in the Treasury for the purpose of subse-
Ijqueni distribution among the several States? I
think not. If the collection, for the purpose ol a
surplus, is to be made from the pockets, of one por
tion of the people, be ultimately returned to tlie
same pockets, the process would lie attended with
the certain loss arising from the charges of collec
tion, and with the loss also of interest whilst the
money is performing the unnecessary circuit; and
it would therefore be unwise.—If it is to be collect
ed from one portion of the people and given to
another, it would be unjust. If it is to be given to
the States, in their corporate capacity, to be used
by them in their public expenditure, 1 know of no
principle in the Constitution which authorizes the
lions. It would lead inevitably to the destruction
of our home nianufrctures. it would establish a
sort of bed of Procrustes, by which the duties on
all articles should'be blindly measured, without
respect to their-nature or the extent of their con
sumption. And it would be a derogation from
every principle of theory or practice on which the
Government has hitherto proceeded.
The second would he still more objectionable to
the foes of the Tat ill than either of the others.—
ourselves tlie ascertainment of the value, and to 1 those very duties which he was origma y J
leave to tire foreigner to prescribe the duty, as it | lor, but which he dishonestly soug • 10 * ^ *
is to reserve to ourselves tlie right, to declare the i Other measures, with a view to a luither ri i ^ |J
nnrJ olimu him thp nriviloiTp tfi tliP ol thprCVPIlItt 1 . III8V DC duOptCu# IDflODDClASlii
ofthe revenue, may be adopted
tltere might beau augmentation Ufthe duties for
■ that purpose. I will jpention the article of foreign
has been to throw almost the whole-import trade of distilled spirits. In no other country, upon eaTtu &
duty, and allow to him the privilege to assess the
value.
Tbe effect of this vicious condition of the law
But it cannot be controverted that, by augmenting I made by law, the duty of the appraii
considerably the duties on the protected class, so [tain tlie value of the goods in certain
as to carry them to the point, or near to the con- j wh <t is his chief guide ? It is the foreign invoice,
the country, as to some important articles, into the
hands of the foreigner. 1 have been informed that
seven-eights of the importation of woollens into
the jiort of New-York, where more is received
than in all the other ports of the United States
together, are in his hands. This has not proceeded
from any want of enterprise, intelligence or capi
tal, on the part of tlie American merchant; lor,
in these particulars, he is surpassed by the mer
chant of no country. It has resulted from his pro
bity, his character, and his respect to the laws and
institutions of his country—a respect which does
not influence the foreigner. I am aware that it is
riser to ascer-
cases. But
fines of absolute prohibition, the object in view ol
effecting the necessary reduction of the public re
venue, may be accomplished without touching the
duties on the unprotected ciass. . The consequence tificates and affidavits fi
made by whom he knows not, certainly by no per
son responsible to our laws. And, if its fairness
be contested, they will br
there so much ofthe foreign article imported as in
this.—The duties ought to be doubled, and tl-ft
revenue tlie rfeby, further reduced from $600,000 \9
a million. The public morals, the grain-gi owing
country, the fruit-raising, and the cane-planting
country, would be [ all bejattited by rendering tb^
dutyprohibitory. Ihavenot proposed the measure*
because it, prehaps, ought to originate in the other
House.
That the measure which I have proposed rrny
be adopted, without interfering with tlie* plan ofthe
Secretary of theTreasury for the payment of ti e-
public debt by the 4th of March next, I will now*
proceed to show. The Secrelarv estimates that
the receipts of the present year after meeting all
other just engagements, w ill leave a surplus of 14
millions applicable to the payment of the principal
of the debts. With this sum, 8 millions which he
ing you cartloads ol cer- ■ proposes to derive from the sale ofthe bank stock*
oni unknown persons to and 3 millions which he would anticipate from tire
of such an augmentation would he a great diminu
tion in the importation of the foreign article, and
of course in the duties upon it. But gainst entire
prohibition, except perhaps in a few instances, I
have been always, and still am, opposed. Bv leav
ing the door open to the foreign rival article, the
benefit is secured of a salutary competition. Iffit j
verify its exactness, and the first cost of the article, revenue ofthe nexfyear, he suggests that the whole
Now, sir it seems to me, that this is a state of of the debt remaining rtflty be discharged by the
things to which we should promptly apply an effi- time indicated. Tlie 34 millions, I understand*
cacious remedy, and no other appears to me, but
that of taking into our own hands both parts of
the operation, the ascertainment of the value as
well as the duty to be paid on the goods. If it be
| (although on this subject the report is not perk ctly
j explicit) are receipts anticipated this year from
duties which occurred last year. If this be the
Secretary’s meaning, it is evident that i;e w ants no
be hermetically closed, the danger * is incurred of I said that we might have, in different ports, differnt j part ofthe duties which may occur during tbe cur-
monopoly. . j rules, the answer is, that there could he no diversi- i rent year to execute his plan. But if Jus meaning
The third mode is the most equitable and reason- tv greater than that to which we are liable, from ( be that the fourteen million v.iil lie composed'In
Federal Government to become such a collector i which l had hoped we could all safely tread, with-
for the States, nor of any principle of safety or pro- out difficulty. It exacts no sacrifice of principle
priety Which admits of the Siates becoming such from the opponent ol tlie American System; it
recipients of gratuity from the General Govern-j comprehends none on the part of its friends. The
ment * j measure before you embraces this mode. It is
It divides
to its na
It should bcampie; for a deficit in } lure. It settles at once what.ought not to be dis
able an J it presents an und.bateatU ground, on J the. fact of the valuation being now made in all the j part of duties accrviijg and jr.yahie within tie
ports of foreign countries from which we make our j present year, then the measure proposed ought
importations. And that it is better ta have the j prevent the payment ofthe whole of the hit rant
valuations made by persons responsible to our own ! of the debt by the exact day which has been
Government, and regulated by one head, than by | stated. If, however, the entire seven trillions,
The public Revenue, then should be regulated • simple, and free from all complexity,
d adapted to the proper service of the General the whole subjeci of imposts according
and
Government.
tiro public income, always to he deprecated, is j
sometimes attended, as we know well from history,
and from what has happened in our own time,
with fatal consequences. In a country so rapidly
growing as this is, with such diversified interests,
new wants and unexpected caiis upon the public
treasury must frequently occur. Take some ex
amples fro in this session. Tlie State of Y irgiisia
lias presented a claim, for an amount but little
short of a million, which she presses with an ear-
iMwtncon flnmonalwitint? bor conviction of Us jus
tice. Tlie State of “South Carolina has uiso a
eiaim for no inconsiderable sum,- being upwards of
puled, and leaves to be settled hereafter, if neces
sary, what may be controverted.
A certain part of the South has hitherto corn-
unknown
bilitv whatever
foreigners, standing under no responsi- embraced by tlie resolution on your table were si• 1
itever to us. i tracted from the fourteen, Tt would stiff leave Mi
m
*T>
The other change to which I allude, is to reduce seven millions; besides the bank stock, to 1
the credits allowed for the payment of duties and plied to the debt, and that, of itselfwouid be tluee
to render them uniform. It would be better, if not, millions^morc than can beproperly applied to lie
injurious to commerce, to abolish them altogether.
Now we have various periods of credit graduated ac-
the nature of the trade. These credits operate as
so much capital on which the foreign merchant can
sometimes make several adventures lielore the ar-
* • Ol w. , 1,1,1 ^ ' M I £!» * * ' r? ''P'luiuo HI
fjoeon l contest for Notional Independence. An act, i pi 00,000, winch she urges with equal earnestness;
common!v called the sinking fund act was passed
bv Congress near fifteen wars a go. providing for
\ts reimbursement. The act was prer»ared pro
posed by a friend ofvoursnnd mine, whose prema
ture death was not n loss nierelv to his native State,
of which he was one of its brightest ornaments, but
to the whole nation. No man. with whom I ever had
the honor to be associated in the legislative coun-
rv;b, combined more tensive and useful informa
tion, wbh mere firmness of judgment and bland ness j
manner, than did the lamented Mr. Lowndes.
The gentleman from Pennsylvania, (Mr. Wilkins)
has brought forward a claim, arising out of French
Sjioliatioiis previous to the Convention of 1800,
which is perhaps not short of five millions, and to
some extent I iiave no doubt it has a just founda
tion. In anv provision of a public Rev enue, Con
gress ought so to fix it as to admit of the payment
of honest and proper demands, which its justice
cannot reject or evade.
I hope too that either in the adjustment of tlie
public revenue or, what would be preferable in
the appropriation of the proceeds of tlie public
lands, effectual and permanent provision will be
made for such Internal Improvements as mav be
And when, in the prime of life, bvthe dispensation
of an all wise Providence, he was taken from us,;
h's counfrv ha 1 reason to anticipate Ihe greatest j v ... _
benefits from his wisdom and discretion. Bv the sanctioned by Congress. This is due to the’ A- difference in its application, between the modifica-
: plained that it pays a disproportionate amount of j cording to the d : stance of the foreign port, and
♦ he imposts. If the complaint be well founded, by
the adoption of this measure it will be relieved at
once, as will be hereafter shewn, from at least a
fourth of its burthens. The measure is in con
formity with the uniform practice of the Govern
ment, fromits commencement, and with the pro
fessions of cl! tlie eminent politicians of the South,
tintil of late. It assumes tbe right of the Govern
ment, in the assessment of duties, to discriminate
between those articles which sound policy require
to foster, and those which it need not encourage.
Tiiis has been the invariable principle, on which
the Government has proceeded, from the Act of
Congress-of the 4th of July, 1739. down to the
present time. And has it not been admitted by
almost every prominent Southern politician. Has
if not been even acknowledged by the Fathers of
the Free Trade Church, in their late address, pro
mulgated, from Philadelphia, to the people ofthe
United States? If we never had a system of fo
reign imposts, and were now called upon, lor the
fust time, to originate one, should we not discrimi-
object, in the course of this year, as I have already
endeavored to shew.
I came here, sir, most, anxiously desiring that
an arrangement of the Public Revenue should be
made, which, without sacrificing any of tlie great
interests ofthe country, would reconcile and sat.s-
rival of the day of payment. There is no reeipro- fy afl its parts. I thought l perceived in the class
ca! advantage afforded to tlie American merchant, of objects iroffproduced within tbe country, a held
I believe, in any foreign port. As we shall probably: on which we could all enuT, in a true ai d gentrne
abolish or reduce greatly the duties on all articles spiritof Compromise &• harmony, and agree upon ;.q
imported from beyond tlie Cape of Good Ildpe;. fimicabje adjustment.—Why‘should n not he dvpt y ?
on which the longest credits at e allowed, the ino- j Wiiy should, those who are opposed to the Aiuen-
ment would seem to be propitious for restricting, can System demand ol its friends an urcenditim -at
that whilst they j surreuto? OuLcoinmon'object should be so to rc-
_ merchant, they 1'dnee vbe pubherevenue as to relieve the buril ti®
should not supply the foreigner at the expense olj of the people, if indeed the people of this coar.t’y
mercantile opera- ■ can be%trufy saw! U> be burthened. The Govtiu-
the other credits in such manner,
afforded reasonable facility to the
nate between the objects of our own industry, and
those produced by foreigners? And is tliere any
net, an annual appropriation often millions of do!- merican People, and emphatically due to the W es
tern People. Sir, temporary causes may exact a
reluctant acquiescence from jhe People of the
West, in the suspension of appropriations >o ob
ject of Internal Improvement, but as- certain as
you preside in that. Chair, or as the Sun jrerforms
its diurnal revolution, they will not he satisfied
with an ubandoimicnt of the jrolicy. They will
come here and tul! you, not in a tone of menace or
la rs u-as made totva r ds the payment of tbe principal
an ♦ iatel*est of the public debt: and also any excess
which TTK?ht rearly be in the Treasury, lreyond
two mil!ion-i of dollars, which it was thought pru
dent to ri'serve tor unfirrseen exigencies.
B d tfii^. system regular and periodical app'i-
ention of public revenue to the payment of tlie
folic would have been unavailing, if Con
Pi
ui! nhc.
tad ueidoctcfl to provide the necessarv ways { supplication, but in the language of conscious
right, that they must share with you in the bene
fits, as they divide with you tlie burthens and the
perils of a common Government. They will sav
that they have no direct interest in the expendi-
reach our tures tor the Navv, the Fortifications, nor even the
& m •aus. C >ngr f »ss did not, ho\vev r er, neglect the
performance of that d’ t'^ By various acts, ami
lno rn “‘jpcc’ahv bv th° tan fof 1824—tlie absurd
tariff of! 824—the nut fie coffers were amply re-
1 we have enabled
pres’nr n**oud eminence of financial prosperity. At- 1 Army, those greatest absorbents of the public
tur C mgress had thus abundantly provided finds tieasiire. f hat. they are net indifferent, indeed, to
mi l devised their systematical application, the duty
remaining to He pcrfiirmed by the executive was
ri;)'v ministerial. And no Executive and no
a l.nmistra-ion can iustlv claim for itself anv other
the safety and prosjjevity of any part of our com
mon country. On me contrary, that every portion
of the Republic is indirectly, at least, interested in
tlie welfare of the whole, and that ihev ever svm-
m-'-lt in tlie discharge of the public d"bt, than that t pathize in tlie distresses and rejoice in the Happi-
of a f>*♦ hfill execution of the laws. No other merit
than font similar one to which it is entitled for di
ness of the most distant quarter of the Union.-
And to demonstrate that they are not careless and
reefing a regular payment of what is due from time 1 indifferent to interests not directly their «nvn, they
%n time to the arm-' and navy, or to the officers of may triumphantly and proudly appeal to the gallant
to
ihe Civil Government for their salaries
Tlie operation ofthe sinking fund act commenc-
part which they bore in the tare war, and point to
the bloody fields on which some of tiivjr most
etd wifii the commencement of Mr. Monrorh ad- 1 riotic sons nobly foil fighting in the common can
Ciinistration. During its continuance of eight i But they will also sav that these fraternal and i
years, owing to the embarrassments ofthe TVcasu- j sentiments ought to be reciprocated by their Atk
rv, the ten millions were not regularly applied to j
tion of an exist ing system and the origination of a
new one ? If the gentlemen of the South, opposed
to the Tariff, were to obtain complete possession
of the powers of Government, would they hazard
their exercise upon any other principle." If it bo
said that sot/ie of the articles which would, by this
measure, be liberated from duties, are luxuries, the
remark is equally true of some of the articles re-
m ining subji ettodut:.' » In the p e ent advanced
stage of comfort and civilization, it is not easy to
draw the line between luxuries and necessaries.—
It will be difficult to make the people believe that
bohea tea is a luxury, and the article of fine broad
cloths is a necessary of Jiff*.
In stating that the duties on tlie protected class
ought to he retained, it has been far from my wish
to preclude inquiry into their adequacy or proprie
ty. II it can he shown that, in any instances,
they are excessive or disproportionately burthen-
some on any section of the Union, for one 1 am
ready to vote lbr their reduction or modification.
The system contemplates an adequate prop ciion ;
beyond that it is not necessary to go. Short of
that, its operation will be injurious ro ali parties.
The people of this country, or a large majority
of them, expect that tlie system will be preserved.
And its abandonment would produce general sur-
the public, with capital for his
lions. If the laws can be strictly enforced, and] ment must have s ccriBln amount <>f reveuie
son * ’ ’ *
he
satisfii
upon
of protection. And, without impairing its prine-i- mount of^fcis canl-rihutitm to-the public exchequer
pie, other inodes of relief may possibly lie devised remains the same? If the asses?-..ent can he made
to some of those interests upon which"it is suppos- on objects WhichwatTgreatiy. benefit large poitioiis
ed to press most heavily. '* ! of the Union, wuhbifi injury to him, why should
There remains one view to present to the Senate he object to-the/sejcetMm of those objects?" Yes, sir.
^ * •• ' • I came here, in a spirit Of warm attachment for-A
parts of our beloved ccfon try, with a lively solici
tude to restore and .preserve uc harm#ny, Sc w i fi
a firm deformm'&tion to pour oit and balni intu exis>
in^ wounds lather Bianiurther to lacerate then;.
For the truth and sincertty of these dtciaraiiuiis^
I appeal to HIM whom none can deceive. I exjiccni
in respect to the amount of reduction ofthe reven
ue which will be produced by the proposed meas
ure if adopted, and its influence upon the payment
ofthe public debt witliin the time suggested by the
Secretary of the Treasury. Tlie estimate which
I iiave made oft hat amount is founded upon Trea
sury returns, prior to the late reduction of duties
on tea, coffee, and cocoa. Supposing the duties on to be met by cot responding dispositions, and hoped
wines and silks to be reduced as low as I think they thatlour deliberations', guided hv fraternal s< nti-
mav be, the total amount of revenue with whieii ments and fe.efmgs,..}voiild teiToinate in diffusing
the proposed measure will dispense, will be about couteninjent and satisfoction tfuought)ui the land."
$7,000,000, 'I'iie Secretary ofthe Treasucy estim
ates the receipts of the present year from allsources :
at $50,000,000, a;id he supjxises those ofthe next j
year will lie ol an equal amount. He acknowledges j ~ “ i r -"' ;, V; ‘Ir———
that the past year has been one of extraordinary | Eleven days later v'e^spom Europe.—The pack-*
a?
— ^UUIUVU JUJj/lM IU-
e mi|)ortalions ofthe past year have i
I believe is generally conJe.ssed, and j
ates, and that a year ol
usually followed by one
tion. That the
been excessive
Is demonstrated by two unerring facts,
is that the imports have exceeded the
about seventeen millions of dollars,
mav be tlie q
baliance of ti
intemperate speculation is ! and provincial papers to the latest dates. 'I'iie
ol more guarded importa- North America'^ sailed (in heF.-xegiflar day the 1st
’ ultimo, which fajlitTg bit Sunday, no Liverpool
paper of thalt date was issnedF' Tne. Presidei.t>
The’first 1 Message reached Liyiertfooipu'the).7th rf Deem-
U r by the packet ^iip Captain
Holdredgei It is highly spokenjof in all the Lon*-
exports by
\\ ha lever
luaufieauons t* which tlie theory ol’the'l don and J^iverptiol -patiei'S* Several of the Lon
ade may Le Jiabie, it may be safely j don papere, tlie Mbrnoig Heraldpthe’^ Com ier, Ac?
tic brethren. That these ought not to
the same collateral or indirect interest in its site*
to the payment ofthe di bt, and upon the termina j ent to the welfare of the West, mid that they hav
tion of that administration, the Treasury stood
larg'dv in arroar to the sinking tund. During the
subsequent Administration of four years, not only
■was the ten millions faithfully applied during each
year, but those arrears were brought up and all
previous deficiencies made good. So that when
the present administration began, a plain unin
cumbered and well defined path lay directly before
it. Under the measures which have been devised
dn tlie short term of fifteen years, the Government
lias paid nearly one hundred millions of principal
nud a’oo it an "equal sum of interest, leaving the
&inuM remnant behind of twenty-four millions.
Ofthe remnant., thirteen millions consistil of the
3 per cent stock, created by the actol 1790. which
the Government does not "stand bound to redeem
pt anv prescribed time, but which it may discharge
whenever it suits its own convenience; and when
Xt is discharged, it must be done by tlie payment of
dollar for dollar. I cannot think, and, I should sup-
Congress can hardly believe, with the~Secre-
there do exist 1 lie
and the grossest frauds upon the public rev
most scandalous violations of it,; Accordingly we find the existence of the other fact! stitutes a chief feature;in the intelligence received
renue, in to which 1 allude, liie high price ofhiils of exchange by the North America. We copy Jo a considora-
tional purpose worthy of the republic. Utterly
opposed as, I trust, Congress will shew itself to all
the mad and wild schemes—and to that latest, but
maddest and wildest of all, recommended by the
Secretary ofthe Treasury—for squandering the
whenever it suits its own convenience; and when public domain. I hope it will be preserved fin- tlie
cess and advancement that the West has in theirs, regard 1° Some Of the most important articles, can- ’ on England. Jfos, therefore, iairly to be anticipated 1 Lie extent, the reports, in; tlie London papers oa
That it docs not ask Internal Improvements to be pot he doubted. As to iron,'objects really Jbelong-i that the duties accruing tbis year*will be less iii a- *’ : ‘ ’ * ; ^ - - •
exclusively confined to itself, but that it may re- fog 10 one denomination, to which a higher duty is mount than those ofthe past. year. And 1 think it
coive, in common with the rest of tlie Union, a attached., are imported' under another name, to would pe unwise to rely upon our present injbrma-
praclicnl lienefit in tire only form compatible with v '- nc l* a lower duty is assigned, and the law thus ! tion as to the income of either oj' these two years
its interior condition. evaded. . Fakse; invoices are made as to woolens,' as furnishing n sale guide tor the-iuture. . The years
The appropriation of the proceeds of ti e public an< ^ l * ,e classification into mu imums is constantly i 1829 and 1830 will supply a surer criterion. There
lands, or a considerable portion of them, to that eluded. The success of the American manufacr i is a.remarkable coincidence in the amount ofthe
object, would be a most natural and suitable d is- ture ofcotton bagging has been such as that,' by j receipts into the Treasury during these two years, occurred in all, Saejpases^pf^wliich 101 recovered]
position. And I do hope, sir, that that great re- furnishing a better and cheaper article, the bagging' it having been thff first, from all sources, $24,827, ai >d 93 died.—leaving tff. tlie' sick 62. At North
source will be cherished and dedicated to some na- of Inverness and Dundee has been almost excluded :
•' 1 '* *' ’' from tlie consumption of the States bordering on
the Mississippi and its tributaries. There has not
yet been sufficient time to fabricate and transport
.i necessary quantities from the Wes-
this subject. It \viff-besecn ffiatat Sunderland ? ihe
place whepe the disease utaginaliy appeared^
it had been almostentireiy subdued, and it v.as an-
ticipated that in a few weeks; it would be entfrel#
extinguished. In Newcastle, the fatality ofthe Col-
era continues alfotit the; same a^a t ihe prevint?
accounts. Up ; to the 2|Ri' of December there had
the article in
tern States to the Southern Atlantic States, which
-v ofthe Treasury, that it would be wise to pay
oTa stock of thirteen millions, entitling its lrold-
e-s to hut three |jer cent wit h a capital of thirteen
millions worth an interest of six per cent. Iu other
words, to take from the pockets ofthe people two
do’^rs to pnv one in the hands of the stockholder.
The moral value of tlie payment of a National
T) fot, consists in the demonstration which it affords
c/the ability of a country to meet, and its integrity
in fulfilling all its engagements. Thai the resour
ces of this country, increasing as il constantly is in
population and wealth, are abundantly sufficient to
meet any debt which it may ever prudently con-
Vact, cannot be doubted. And its punctuality ami
probitv, from the period of the assumption, in 17-
90, ofthe debt ofthe Revolution, down to tlie pres
ent time, rest upon a solid and imcontestahle foun
dation. The danger, perhaps, is not that it will not
i'uirlv meet its engagements, but that from'an inor
dinate aviditv arising from temporary causes it
piav bring discredit upon itself by improvident
Arrangements -which no prudent man, in the man-
duties on the unprotected articles, prior to March sni ^ t°be some disgustingly;fifUiy'streets, the cli-o!-
1833, &, then to retain a considerable portion of them. cra n j a d e its .&jJ^arancc..'dh-tfr6~'25tH, and from
have therefore been almost exclusively supplied { And as to the protected ciass, he would make a • 1en o'ctock in'tlieinornmg'i^’jtliit-'^ay, . in ten o’
trom the Scottish manufactories. The payment of j gradual but prospective reduction of the duties, clock ol the mbrningbf the'27th jno fewer than 39
present generation and for posterity, as it has been
received from its ancestors, a rich and bountiful in-
heritaMce. In these halcyon days of peace and
plenty, and an overflowing Treasury, we appear 0, her
; to embarrass ourselves in devising visionary schemes cents
for casting away tlie bounties with which the good- on l v
ness of Providence has blessed us. But, sir, the P rev
storm of war will come, when we know not; the <m Lit: duties accruing on cotton bagging for tlie] ue.and beget a necessity fr
day of trial and difficulty will assuredly come, and years 1S-23, 1829, and 1530 During the first year ; due tion ofduties until they
now is the time, bv a prudent forecast, to husband the amount was $137,206, the second, $106,068,
our resources, and this, the greatest of tiiem all.. UI1 ^ ,i,e Rdrd it sunk down to $14,141.
Let them not he hoarded and hugged with a mis-1 ’he time lias arrived when the iuqui
inquiry ought to
be seriously made, whether it be not practicable to
er’s embrace, but liberally used. Let the proceeds
of the sales of the public lands lie administered in
a generous spirit, and especially towards the States
within which they are situated. Let the proceeds
of the sales of the public lane’s be applied in a sea
son of peacp, to some great object; and when
war does come, by suspending that application of themselves to my mind, and which I will "now sug-
lor further and further re-
thev would be carried so low
as to end in the entire subversion of the system of
protection.
For the reasons which have been assigned, it
would I think be unwise in Congress at this 0 time to
gest for consideration and investigation. On such
a subject, I would however seek from tlie mercan
tile community and practical men, all the light
which they are so capable of affording, and should
l»ereluctant to act on my own convictions, however
strong.
The first is to make a total change in the place
of valuation.' Now, the valuation is made in Fo-
r _ _ _ 4 . _ % reign countries. We fix the duties, and we leave
debt after deducing the thirteen million of three j counsels, and that all vital changes in it ought to foreigners to assess the value on articles paying ad
them, during it? continuance, you will be at once
put in possession of meansjbr its vigorous prose
cution. More than twenty-five years ago, when
first I took a seat in this body, I was told, by the
fathers of the Government that, if we had any
thing perfect in our institutions, it was the system
a gement of his private affairs, would ever think of; for disposing of the public lands, and I was cast
adonting. | tinned against rash innovations in it. Subsequent
Of the residue of that twenty four millions of experience fully satisfied me of tlie wisdom of their
>
per cent.,—less than two millions are due, aud of
right, payable within the present year. If to that
sum he added the moiety which becomes due on
the 31st of December next, of the $4,454,727, cre
ated by tlie act of*26 May 1824, we have but a sum
Af about four millions which the public creditor
loan lawfully demand, or which tlie Government is
be resisted.
Although it may be impracticable.to sav what
the exact amount of the public revenue should be,
for the future, and what would he the precise pro
duce of any given system of imposts, we may
safely assume, that the revenue may now be re
duced and considerably reduced. This reduction
Tpaad to jpp fe tfyff qpojve year, Itooip. 1 may he.ejftegtcd £» various wjw-s, and on di&reui ‘ teal purposes,-it would be just qs sate to retain p>
arrest this illegitimate course of trade, and secure j assume, for tlie future, that there would be a grater
the laithlul execution of the laws. No time could j amount of nett annual revnue, from ail sources,
be more suitable than that. at. which it is content- including the public lands, than $25,000,000. De
puted to make a great reduction ofthe public ducting from that sum the amount of seven millions
revenue. Two radical changes have presented which it has been supposed ought to be subtracted,
if the resolution before you should he adopted, there
would remain $18,000,000 as the probable revenue
of future years. This includes the sum of three
millions estimated as the future annual receipt from
the safe of tlie public lands—an estimate which I
believe will be demonstrated by experience to te
much too large.
Ifa reduction so large as seven millions be made
at this session; ami if the necessary measures be also
adopted to detect and punish frauds, and ensure a
faithful execution ofthe laws, we may safely make
a temporary pause, and await the developementof
the effect upon the revenue, of these arrangements.
That the authority ofthe law should be vindicated,
all ough) to agree. Now, the fraudulent importer,
after an exposure of his fraud, by a most strange
Treasury construction of the law, (made I under
stand, however, not by the present Secretary,)
eludes qff required to
valorem duties. That is, we prescribe "the rule,
and leave its execution to the foreigner. This is
an anomaly, I believe, peculiar to this country. It
is evident that the amount, of duty payable on a
given article, subject to an ad valorem duty, may
be effected as much by the fixation of the value, as
] by the specification ofthe duty. And, for ailpmc
Peerage in France, an^exjtractIfffelation tq which
will be found under tiSe jSead qrtna^coiintr^. The
a ccoi ints of thismeasure re jconlainc dbigrthe Lon
don papers of tlieSIstj the questioa
was finally taken on tke^venipg of the 28tb of De
cember. The entire-law pas^djitns said, by a
majority ol 33, frie votes--in^-tbe' affirmative being
103, in the negative 70. Tfie Lpmfcih, Times off
the SIst say®, of the 36 new^f^cqrsi 34 voted, t lie-
others being absent, and that or tt$e wnote nuni%
ber of Peers there we'rfe idB abs ^
A report was given in the Coufrici^^s Etedeure f
derived from a letter from Touk»»,[* date4 -Decem
ber 20th, that a revolution had brolKn ont at Rome,
and that the Pope had been s$bj&/'^Kt was stated
that thcpeople were committing all kinds ffll’exce^l-
pillaging the palaces of the carffinol^ &c. &c. a.4
that they had gotjjosaessimi of the
—Nue York Evening Post. * -
Riot at Menkens—Dcs,
Tire Aberdeen Journal
tbe destruction, by
tre in St. Apcjyew’s stroe
week. It appears ‘
opened; the lower
upon it with a sm,
its being known to
dead bodies ; k
dog to the back
rfWsflcArigriiv
In&wnicak
^jifeufars ol
ial thea-
, on Monday
* tbas beon
kiokeil
A
npe oi
for.
itlbn, a
dug.