{"newspaper_name": "The New York herald.", "edition": "01", "page": "p1", "byline": ""}
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before stated, gives an estimated balance


on LIST july lS47 OF. .$4, ,332, AL OF


The receipts for the first quarter Of this year
less, by 2Oll ,SS5 80, than the receipts Of the
quarter last year Among the causes of decrease
Is the progressive diminution of the importation Of
many hgbiyprotected articles, and the substitution
OF rival domestic produsts For the nine months
ending June ~, lS43, since the present tariff, the
average OF duties upon dutiable imports was equal
to 81 ~ l-lO per cent; for the year ending June go
1919, So sS 10 per cent and for the year ending
June 80, l845, % 80 per cent-showing a great
dimlnutlon IN the average per centage, owing in
part to increased importation of some articles
bearing the lighter duties, and decreased importa-
ton OF others bearing the higher duty. The revenue
from ad valorem duties last year exceeded that real
ized from specific duties, although the average OF
the sd-vaorem duties was only % 81 per cent, and
the average Of the specific duties IL Representing
another strong proof that lower duties increase the
revenue, are increased emigration, and the annex
alton OF Texas The estimates for the expenditures
OF 1876 are based chiefly upon appropriations made
by Congress The estimated expenditures Of l87
partmens, ana are less by 81 l08 23S 65 than those
OF the preceding year. These estimates are submit
ted IN the full conviction that, whenever Congress-
guided by an enlightened economy, can diminish
the expenditures without injary to the public inter-
est such retreRchment will be made, so as to light
en- the burden OF taxation, and hasten the extn
guishment Of the public debt, reduced on the lst of
October last to $l7 ,075, AS 81.


In suggesting improvements in the revenue laws
the following principles have been adopted


lst That no more money should be collected
than is ssary for the wants OF the government
economically administered


I'd. That no duty be imposed on any article above
the lowest rate which will yield the largest amount
of revenue


Sd. That, below such rate, discrimination may be
made, descending In the scale OF duties, or, tor i'm
peratlve reasons, the article may be placed IN the
list OF those free from all duty.


4th. That the maximum revenue duty should be
imposed on luxuries.


6th. That all minimums, and all specific duties
should be abolished, and ad-valorem duties substi-
tued in their pace-care being taken to guard
against fraudulent invoices and valuation
and the duty upon the actual market value


9th. That the duties should be so imposed as TO
operate ~ eqraly as possible throughout the Union
discern iaailrr neither for nor against any class