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the future prosperity fthe natiUn.

 The prOpriety Of reasonably protecting the Domestic Industry is fully conceded; but 1t is believed it would neither require nor iusti- fy the raising of larger amount of revenue than may be necessary to defray the expens- es of the Government. Some of the evils or a surplus which an excess of revenue beyond ! the expenditure would necessarily induce, r have been already noticed. To these may be added the effect upon the peace and har- | mOny of the country and upon the safety OCI the Uninn, which should certainly not be hax- arded for any object not of vital importance to its welfare.

 If it could he shewn that the labor and cap- ital of the United States required greater aid to shield them from the injurious regulations of foreign States, sound policy would rather recommend system of bountes by which the duties collected from imports might be directly applied to the objects to be cherished than the accumulation of money inIhe Treas ury. No such necessity, however, IS sup?Os- ed to exist.

 The amount of reevnue equal to the au- thorized expenditures of the Government it is the constitutional duty of Congress to pro- 1 vide; and. to tariff framed for this object, it is not perceived there can be any reasonable objection. Of this duty, the Constitution it. self precludcs all doubt by authorizing both

 the expenditure and the means of defraying it.

 It will be difficult precisely to graduate the

 revenue to the expenditure. The necessity

 of avoiding the possibility of deficiency in

 the revenue and the perpetual fiuctuation in the demand and supply render such a task almost inapracticable. An excess ofrevenue, therefore, under any prudent system of du- ! ties, may be for a time unavoidable. But this can be better ascertained by experience, and

 the evil obviated either by enlarging the ex :

 pendture for public purposes, or by reducing the duties on such articles as the condition of

 the country would best admit.

 To distribute the duties in such mannery

 as far as that may be practicable, as to eSss

 courage and protect the labor of the people of ] the United States from the advantages of su-

 perior skill and capital, and the rival preftren- { ces of foreign countries, to cherish and pre-

 serve those manufactures which have grown

 mp under our own legislation, which contri-

 bnte to the national wealth. and are essential 1 to our independence and safety.to the defence of the country. the supply ofits necessary

 wants, and the general prosperity, is consid- cred to be an indispensable duty. The vast amount of property employed in the north

 ern, western, and middle portion of the Un- ion, upon the faith of our own system Oflaws, 1 and on which the interests of every branch of

 our industry are involved, could not be inn mediatcly abandoned without the most ruin

 Ous consequences.

 The various opinions by which the people of the United States are divided upon this subject. concern the peace and harmony 0f the country, and recommend an adjustment on practical principles, rather than with ref erence to any abstract doctrines of political economy.

 The objects more particularly requiring the aid of the existing duties upon the principles lens, cotton, iron, hemp, and sugar, as com ! pretending those articles ia ar, mora particularly intereSt

 Upon these articles. the average fiutv col. lected in the year 1929 aod 1880 amounted to S,94O,S9S, as is shown by the annexed statement.

 These duties could not be materially chang ed at present. without the effect already dep. recated. No objection is percei, ed, howev- err to such gradual reduction of them in flu. ture as may withdraw the aid thus afforded. as the growth and stability of our manufac- lures will enable them to dispense with it-l to sucha degree at least as will, with the aid of an increase of population and the means of consumption, still leave a revenue adequate to me expenditures; or until what may be with ura"n rom them may be levied on other ar- I ticIes which may be found to admit of it..

 Considering the amount of labor and capi. ta' employed in manufactures of the greatest importance to the country, and which have a'ready contributed so essentially to our de. isnce and safety. and to the general prosper ny, tt could not be expected that they should De suddenly abandoned. Regarding, at the same time, the diversity of interest resulting from the peculiar situation of tEa TT S,,.t.a the manufacturing interest itself should be content with moderate and gradual protec- t!on' rather than by extreme measures to en- danger the public tranquility. The indispep. saoie necessity of the aid of General Govern ment tor those objects of acknowledged na. "onai concern, more especially the improve ment of rivers and harhors which are inc great highway of the people, and to which the means ot the several states are both made. quats ana 'napplicable,. could not be withheld without opposition to the opinions Ofa major ny or the people and the interests of many portions of the Union. It is at the same time admitted, that this aid should be moderatelv con'erred' and with proper deference to opin. l"ns or an opposite character. It cannot be uouo'eo mat too extensive an exercise of the powers of the General Government over these oolects would ultimately subvert the consti- tutlona' sovereignty ofthe states. It must he acknowledged that the just medium on all !nese subjects is difficult of attainment :. hnt in tne desire to seek and in the sagacitv in ss oopt the best, consists the true policy of an American statesman. r~y VI ""

 The measures of the General (sovarnr,.l