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sent tariff are doubtless overrated both in Is evils and in its advantages. By one class of elsoners, | the reduced price of cotton and other agricultural products is ascribed wholly to its influence ind by another, the reduced price of manufactured articles. The probability is, that neither opinion approaches the truth and that both induced by that influence of interests and prejudices to which have referred. The decrease of prices extends throughout tle com mercal world embracing not only the raw bacterial and the manufactured article, but prOvisicns and lands. The cause must, therefore, be deeler and pervadng than the tariff of the United States. It may in measure, be attributable to the increased value of the precious metals, produced by dimi- mutton of the supply, and increase in the de- mand; while commerce has rapidly extended itself, and population has augmented. The supply of gold and silver, the general medium of exchange, has been greatly nterruptedby by civil conyulsions, in the countries from which they are principally dawn part ofthe effect too, is doubtless owing 10 n- crease of operatives and improvements in lpachine ry But, on the whole, it is questionable whether the reduction in the price of lands, produce, and manufactures has been greater than the appreciation of the standard of value.

 While the chief object of duties should be reve- nue. they may be so adjusted as to encourage manu- factures In this adjustment, however, it is the du- ty ofthe Government to be guided by the general good. Objects of national importance alone ought to be protected of these, the productions oour so1, our mines, and our workshops, essential to national defence, occupy the first rank. Whatever other species of domestic industry having the importance to which have referred, may be expected, after temporary protection, to compete with foreign labor on equal terms merit the same attention Tn subor- dinate degree.

 The present tariff taxes some of the comforts of life unnecessarily high it undertakes to protect ;n- terests too local and minute to justify general ex- acton; and 1t also attempts to force some kinds of manufactures for which the country s not ripe.- Much reliefwill be derived, in some of these re- spects, from the measures of your last session.

 The best, as well as farest mode of determin- Ing whether, from any just considerations parti- cplar interest ought to receive protection, would be td submit the question singly for delibemtion. If after due examination of it's merits, unconnected with exraneous consideratons-such as desire to sustain general system, or to purchase support for different nterest-it should enlist in it's favor majority of the Representatives of the people, there can be little danger of wroug injury in adjusting tie tariff with reference to it's protective effect If tlhs obviously just principle honestly adhered tp, the branches of industry which deserve protec- ton would be saved from the prejudiees excited against them, when that protection forms part of a system by which portions of the country feel or con | ceive themselves to be, oppressed. What Is incal- culably more important, the vital principle of our system-that principle which requires acquiescence in the will ofthe majority-woud be secure from the dlscredt and danger to which it IS exposed by

 

 yctlon, but on combinations of small mnorites en- tered into for the purpose of mutual assistence in measures which, resting solely on their own merits, | could never be carried.

 am well aware that this is a subject of so much delicacy account of the extended interests it in volves to require that it should be touched with the utmost caution and that while an abandon ment of the policy in which originated--a policy coeval with our Government and pursued through successive administrations is neither to be expected or desired, the people have right to demand, and have demanded that it be modified as to correct abuses and obvate injustice.

 That deliberations this interesting subject, should be unmiluenced by those parIzan conflicts that incident to free institutions, is the fervent wish of my heart To make this great question, which unhappily much divides and excites the public mind subservient to the shorts ghted views of faction, must destroy all hope of settling it satis- fnctory to the great body of the people, and for the general interest cannot, therefore, on taking leave of the subject, too earnestly for my own feelings or the common good, warn you against tue blighting consequences of such course.

 According to the estimates at the Treasury De- partment the receipts in the treasury during the pre- sent year will amount to twenty-iour millions one hundred and sixty-one thousand and eighteen dol lars, which will exceed by about three hundred thousand dollars the estimate presented in the last annual report of the Secretary of the Tleasury The

 

 lie debt for the period, is estimated at thirteen millions seven hundred and iory-two thousand three hundred and eleven dollars; and the payment on account of public debt for the same reriod will have been eleven millions three hundred and ffty-four thousand six hundred and thirty dollars leaving balance in the Treasury, on the first of January, eighteen hundred and thirty-one, of four millions eight hundred and nineteen thousand seven hundred and eghty-one dollars

 In connection with the condition ofoT finances, it affords pleasure to remark that judcious and eff- cient arrangements have been made by the Treasury Department for securing the pecuniary responsibility of the public officers, and the more punctual pay ment of the public dues. The revenue cutter ser vice has been organized and placed on a good foot ing, and aided by an increase of inspectors at ex- posed points, and the regulations adopted under the act of May, 1850, for the inspection and appraise- ment ofmerchandise, have produced much improve ment in the execution of the laws and more secn.i- ty against the commission of frauds upon the reve- nue. Abuses in the allowances for fishing boun- ties have also been corrected, and material saving in that branch of the service thereby effected. In addition to these improvements, the system of ex- pendlture for sick seaman belonging to the merchant service has been revsed; and, by being rendered uniform and economical, the benefits of the fund ap plcabe to this object have been useluly extended. The prosperity ofour country is also further evin- ced by the increased revenue arising from the sale of public lands, will appear from the report of the Commissioner of the General Land Office, and the documents accompanying it, which are herewith transmitted. beg leave to draw your attention to this report and to the proprety of making early ap- propriations for the objects which it specifies

 Your attention is again invited to the subjects connected with that portion of the public interests entrusted to the War Department. Some of them were referred to in my former message; and they are presented in detail in the report of the Secreta- " of War, herewith submitted. l refer you, also, to the report of that officer for knowledge of the state of the Army, Notifications, arsenals, and h. dian affairs: all ofwhich, it will be perceived, have