Thursday, June 11.
Amy Dardin.
The House then resolved itself into a Committee of the Whole on the report of the Committee of Claims on the petition of Amy Dardin, that it is reasonable, and ought to be granted. After some debate, the committee rose, and reported their agreement to the report; which was, after debate, concurred in by the House. For the report 64; against it 42.
Monday, June 22.
Additional Duties.
An engrossed bill for imposing additional duties upon all goods, wares, and merchandise, imported from any foreign port or place, was read the third time, and recommitted to a Committee of the Whole to-day.
The House accordingly resolved itself into a Committee of the Whole on the bill; and, after some time spent therein, the Committee rose and reported the bill to the House without amendment.
Mr. Bigelow.—Mr. Speaker, it is well known that I have been uniformly opposed to the measures which have drained the Treasury of its money—more particularly to those measures of the present session, which have rendered necessary such large appropriations, and laid the foundation for an expense which no man can calculate. But, sir, as those appropriations have been made; as expenses have been and must be incurred; the means of payment must be provided. Sir, I hold it to be a sound political principle—a principle from which this Government never ought to depart—that the creation of public debt ought to be accompanied with the means of its extinguishment. This principle was strongly recommended in the administration of Washington, by the then Secretary of the Treasury, in a report to Congress on the subject of finance. He stated it to be the true secret for rendering public credit immortal, and expressed a fervent hope that the Government of the United States would always adhere to it. The arguments in favor of this principle are plain and obvious. The public credit must be supported, or the Government will lose the confidence of the people. The public credit must be supported, or you put at hazard the best interests of the country; you hazard, indeed, the very existence of the Government. In popular Governments there is always a reluctance to laying burdens upon the people. If, then, while creating a public debt, we neglect to provide the means of payment, what will be the consequence? Will it be less difficult or unpopular to do this after the debt has accumulated to an enormous amount? No, sir. Depend upon it, the longer you delay to provide the means for discharging the public debt, the greater will be the risk and difficulty of doing it. What will be the consequence of such neglect? Sir, the country will be deluged with Treasury notes; these notes will depreciate, like the old continental money—the whole history of which every one, acquainted with the history of the Revolution, knows to be a history of public and private frauds. Sir, the floodgates of corruption will be opened upon us. Already, sir, tigers and sharks are feasting, in anticipation, on their prey.
Impressed, as I am, with the importance of the principle, that the creation of public debt ought to be accompanied with the means of its extinguishment, I confess it was with no little astonishment I learnt, that doubling the duties on imported articles was the only means to be provided; that, after the House had solemnly resolved upon a system of taxation, embracing various subjects, and intended, as was stated, to equalize upon the people of the different States, as far as possible, the burden of taxation, that only one of those has been selected, and that one the most unjust, the most unequal, and the most mischievous of the whole. These remarks are not made, Mr. Speaker, from an apprehension that doubling the duties on imported articles will not effectually open the eyes of the people. Sir, it will be the most unpopular tax you can impose. The people of this country—particularly the eastern sections of it, upon whom this tax will bear peculiarly hard—are too enlightened not to know, to see, and to feel, the operation which an additional duty of 100 per cent. upon imported articles will have upon them. They are too enlightened not to know that this will be but the beginning of sorrow. Neither, sir, are they so ignorant as not to know that the five millions of dollars which it is calculated to raise by doubling the duties, will not discharge a loan of eleven millions, and Treasury notes to the amount of five millions more; much less that it will defray the expenses of the war. Yes, sir, they will at once see, that, sooner or later, other taxes must and will be resorted to. The true policy, then, of the United States is, in the outset, to lay the foundation of a sure and certain revenue, and not to depend, in a state of war, upon a revenue to be derived from a source so uncertain as that of commerce. My objection is not that revenue ought not to be raised, but to the present mode.
I have stated, sir, that this is an unjust measure. Let us for a moment look at its operation. There is, probably, at a moderate calculation, seventy millions' worth of imported goods now in the United States, which have paid only the present rate of duties. Taking the calculation of the Secretary of the Treasury as correct, that thirty-five millions of imported goods yield a revenue, at the present rate of duties, of five millions, the seventy millions now in the United States have paid duties to the amount of ten millions.