AMERICA.
We add a few items of news per Monica, not yet published. By the Africa, which left New Ybrlc on the 3rd December, the President's message was received in England. Tliis document is, as usual, of considerable .-length.:; We select the following passages as most generally interesting:— SETTLEMENT OF THE EIGHT OF SEARCH QUESTION WITH ENGLAND. It is my earnest desire that every misunderstanding with the Government of= Great Britain should be amicably and speedily adjusted. It has been the misfortune of both countries, almost ever since the period of the revolution, to have been annoyed by a succession' of irritating and dangerous questions, threatening their friendly relations. This has partially prevented the full development of those feelings of mutual friendship between the;people of the two countries, so natural in themselves and so conducive to their common interest. Any serious interruption of the commerce between the United States and Great Britain would be equally injurious to both., In fact, no two nations ever existed on the face of the earth who could do either so much good or so much harm. . . . . Entertaining these sentiments, I am gratified to inform you that the long pending controversy between the two Governments in relation to the question of visitation and search has been amicably adjusted. '. . : •■■•..■■••'■.•. " The British Government at the same time proposed to the United States that some mode should be adopted, by mutual arrangement between the two countries, of a character /which may be found effective^ without being offensive, for verifying the nationality of vessels .suspected on good grounds of carrying false colours. They also Invited the United States to take the initiative, and .propose measures for this purpose Whilst declining to assume so grave a responsibility, the' Secretary of State has informed the British Government th.it we are ready to receive any proposals which they may feel disposed to offer having this object in view, and to consider them in an amicable spirit. A strong opinion is however expressed, that, the occasional abuse of the (lag bl any nation "is mi evil far less to bo deprecated than would he thi\establishment of any regulations which migkt be incompatible 'vitli the freedom of the seas. This Government has yet received no communication
•pacifying the manner in whiph the British Government would propose to carry out. the suggestion; and I am .inclined to believe that no plan which can be devised will be free from grave embarrassments. Still, I shall form no decided opinion on the subject until I shall have carefully and in the best spirit examined any. proposals which they.may think proper to make. THE CLAYTON-BULWEB TREATY. I am truly sorry I cannot also inform you that the complications between Great Britain and the United States, arising out of the Clayton and Bulwer treaty of April, 1850, have been finally adjusted.. v .... Our relations with the great empires of France and Russia, as well, oh with all other Governments on the continent of Europe,' except that of Spain, continue to be of the most friendly character.;,.." .FINANCIAL CONDITION OF THE TJNITBD .. STATES. V, ' '"" ' " '' In connection with this subject, it is proper to refer to our financial condition. The same causes which have produced pecuniary distress throughout the country have so reduced the amount of imports from foreign countries that the revenue has proved inadequate to meet the necessary expenses of the Government. To supply the deficiency, Congress, by the act of the 23rd of December, 1857, authorised the issue of "20,000,000" dollars' of •treasury notes; and this proving inadequate, they authorised,-by the act of June 14th, 1858, a loan of 20,000,000 dollars " to be applied to the payment of appropriations made by law." THE TRUE FINANCIAL" POLICY* OF THE COUNTBY. , f HOW THE REVENUE BHbU?/D BE. BA]|el). No statesman would advise that ,we should go on increasing the, national' debt to. meet the ordinary expenses of the Government. This would be a most ruinous,policy.'. In case of war our credit must be our chief resource; at least for the fitst year, and thi3 would be greatly impaired by having contracted,a large debt in time of peace.. It is our true policy to increase our. revenue..so as to equal our expenditure. It would be ruinous to continue to borrow; Besides, it may.be. prqper to observe that the incidental protection thus afforded by a revenue tariff would, at the .present moment, to some extent, increase the confidence of the manufacturing interests, and give a tresh impulse to our reviving business. To this, surely, no person wil object. ■ . - :.;■; - - *.•; In regard-to the mode of assessing and collecting duties under a strictly revenue tariff, Ihavelong entertained and often expressed the opinion that sound policy requires this should be done by specific duties, in cases to which these can be properly applied. They are well adapted for commodities which are usually sold by weight or measure, and which from their nature are of equal value. Such, for example, arc? the articles of iron of. different classes, raw sugar, and foreign wines and spirits. . ..In my deliberate judgment, specific duties are the best, if not the; orily; means .of securing the revenue against false and: fraudulent invoices; and such has:f>een the practice'adopted for this purpose by other commercial nations. - Besides specific duties would afford to the American manufacturer the incidental advantages to which heis fairly entitled under a revenue tariff. The present system is a sliding scale to his disadvantage. -Undev it, when prices are high and"business prosperous, the duties rise in amount when they least require their aid. On the contrary, when prices; fall, and he i 3 struggling against adversity, the duties are diminished in the same proportion, greatly to his injury. •. ' .;.,.-.;., ;-:.■;. ■-. ./ Neither would there be danger that a higher rate of duty than that intended by.Congress could Ibe levied in the form of .specific, duties. It would be easy to ascertain the average value of any imported article for a series of years ; and, instead of subjecting it to an advalorem duty, at a certain rate per centum, to substitute in its' place an equivalent specific duty. By such an'arrangement the consumer would not be injured. It i* true-he might have to pay a little more' duty on a given . article, in one year; but if so, he would pa}' a little less in another, and in, a series of years these would counterbalance each other, and ainountto the same thing, so far as his interest is concerned. This inconvenience would be trifling when contrasted with.the additional security thus afforded against frauds upon the rpvenue iv which every consumer is directly interested. ' ... . ... I have thrown out these suggestions as the fruit of my own observations, to which Congress, in their better judgment, will give such weight as they may justly deserve.
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Lyttelton Times, Volume XI, Issue 669, 6 April 1859, Page 2
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1,128AMERICA. Lyttelton Times, Volume XI, Issue 669, 6 April 1859, Page 2
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