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can be aoWn that, iu any insancei they are exces- sivs or dsproporiioually bHTthensOme any section of the Union for am ready to vOs Gor their rec duc,ion or modification. The eypiem cOniempiates an adequate protection beyond Ihat u IS not necessa oua to all parties.

 The peapic of this country, or large majority of them expect that the system will be preserved. And itu abandonment would produce general surprise, spread desoaion the aDd and occasion aa great

 shock as declaration of war forthwith against the powerful nation of Europe. -

 Bu il the system be preserved fought to he honest iy fairv and faithfully enforced That there do ex- is the most scandalOus violations of it, and the gross frauds upon the public revenue, in regard to some ofthe mos, important articles, cannot be doubted. As iron, objects really belonging to one denomination, lo which higher duty is attached, are imported un- der another name, which lower duty IS assigned, and the law thus evaded. False invoices made as woollens, and the classification into minimums is constantly eiudcd The success of the American ! manufacture of baggng has been such as that by furnishing better and cheaper article, the bag ging ofInverness and Dundee has been almost excu- ded from the consumption of the States bordering on the Mississippi and it's tributaries There has not yet been sufficient time fabricae and transport the ar tcle in necessary quantities from the Western States to the Southern Atlantic States which therefore have been almost exclusively supplied from the Scottish manufac,ories. The payment of the duty is eVaded by the introduction of the foreign fabric, under the name of hurlaps, some other mercantile phrase, and instead of paying five cents the square yard, tt IS entered with dnty of only fifteen per cent. ad valo rem. That this practice prevails, is demonstrated by

 the Treasury report of the duties accrung on cotton O"SSiuk LOT yeHTS 1o%o, lo<o' IooV' AIutHS the first year the amount l37.50S dollars, the sl4,I4l ~ ~ ~

 The time has arrived when the inquiry ought to be seriously made whether it be not practicable 10 arrest

 this ilegiiimate of trade and secure the faith fu execution of the laws. No time could be more suitable than that which is contemplated to make great reduction of the public revenue Two radical changes have presented themselves to my mind and which will now suggest for consideration and nves- tigation. On such subject, would however, seek inc mercantile and practical all the light which they capable of aording, and I should be reluctant to act on my own convictions. however strong.

 The first is to make total change in the place of | valuation. Now the valuation is made in foreign countries. We fix the duties, and we leave to foreign

 to assess the value articles paying ad valorem duties That ia, prescribe the rule, and leave it's execution the foreigner. This is anomaly be- lieve, peculiar to this country It is evident that the an ad vaiorem duiy may he affected much by ,he

 xaon oi the value, as by the specification ofihe du

 y. And, for all practical purposes, it would be just

 as safe to retain to ourselves the ascer,anmen of the

 value, and leave to the foreigner prescribe the du

 iy, 1t is to ourselves the right to declare

 the duty and allow to him the privilege to assess the 1 value.

 1 The effect of this vicious condition of the law has

 been 10 throw almopt the whole import trade of The

 country as to some important articles, into the hands | of the foreigner. | have been informed that seven-

 cghihs of the importation of wooiIens into the port Q" | NewYork, where is received than in all the

 other ports of ie United States together, in his

 HIb NaS U0t prOCeeu0u rom any want or eH.

 ,erprize, intelligence, capital, the par, of 'he

 American merchant; for, in these particulars he is

 surpassed by the merchant of country It has re-

 suited from his proby, 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 t s made by law, the duty of the appraiser to

 what is his chief guide? It is the foreign invoice, made by whom he knows not, certainly by person responsible to our laws And, its fairness be con tesied they will bring you carloads of certificates and affdavits from unknown persons to verify its sx

 actness, and the first cost of the article.

 Now, sir h seems to me that this is state of things to which we should promptly apply an efhcacious remedy, and no other appears to me, but tha, of king into hands both parts of the operation, the ascertanment of the value well as the duty De paid the goods Hit he said ina, might have,i different ports different rules, the answer s that there could be no diversity greater than that to which liable from the fact of the valuation being now made in all the ports O foreign countries from which we make importations And that it is better to have the valuations made by persons, responsible to our own Government, and regulated by one head, than by known foreigners, standing under no responsibility whatever to us.

 Fhe other change to which alIude, is to reduce

 the credits allowed for the payne of duties, DRd to render them uniform. IL would be better, if not nju rious to commerce, to abolish them altogether. Now have various periods of credit, graduated accord

 ing to the distance of the foreign port, and the ofthe trade. These credits operate as so much cap ital on which the foreign merchant can sometimes make several adventures before the arrival Of the day of payment. There is reciprocal advantage aff"r ded to the American merchant, beieve m any Tor. eign port. As shall probably abolish reduce greatly the duties all articles imported from beyond the Cape of Good Hope, which the longest credits allow ed, the moment would seem to he proPious

 for restricting the other credits in such manner that whilst they afforded reasonable facility 10 the chan they should not supply the foreigner the in stance of the public, with capital for his mercantile operations. If the laws be strictly enforced and some such alterations have been suggested, be carried into effect, it s quite probable that satsEac tory reduction may be made of the duties upon some of the articles falling within the system of And, without impairing s principle, other modes of relief may possibly bs devised to some of those inter- ess upon which it is supposed to press most heavily

 There remains one view to present to the Senate in respect to the amount of reduction of the revenue, which will be produced ny the proposed measure if adopted, and it's influence upon the payment of the public debt, within the time suggested by the Secreia- ry of .he Treasury. The estimate which have made ofhai is founded upon Treasury retur ns prior the late reduction of duties tea, coffee, and coa. Supposing the duties wines and silks 10 be reduced low as 1 think they may be, the total amount of revenue with which the proposed measure will dispense will be about $7,000,O0O The Secre- of the Treasury estimates the receipts of the year from all sources $30 ,000 and he supp poses those of the next year win be of equal amount He nowledges that tho past year has been of extraordinary commercial activity; but on what principles does he anticipate that the present will also be The history of our commerce demon siraies that 1t Rternates and that year of intempe rate speculation is usually followed by of more guarded importation. That the imporiaiions of the past year have been excessive believe is generally confessed, and is demonstrated by umer,ng facts. The first is that the imports have exceeded the ex ports by about millions of dollars. What ever may be the qualifications to which the theory of