Report Of The Secretary Of The Treasury

Iahisannual report, the Secretary of the ! Treasury, after giving the table of i tal receipts and expenditures, lays down the followitig propositions: 1. That no more money shouldbe collected ! than is necessary for the wants of the ' crnment economically administend. 2. That no duty mny be imposed on any ' orticle above the lowest ratcs which wil] yield ; the largeai amount of revenue. 3. That below such rate discrimination may ' be made descending in the scale of duiiee, or ' for imperativo reasons, the articles may be placed in the list of those free from all duty. 4. That the maximum revenue duty sliould be imposed on luxuries. 0. That all mínimums and nll specific dulies should be abolished, and ad valoreen dutiert substituted in their place, care being taken to guard against fraudulent invoicee and under valuation, and to assess the duty upon the actual valué. 64 That the duties shall be fo imposed as to opérate as equally as po6sib!e throughout tiie Union, discriminating neither for nor agajnst any class or ecclion. No horizontal scale of duties is recommended, lecause such a 6cale wou ld be a refusal to discrimínate for revenue, and might sink that revenue below the wants of the Government. The Secretary recommends the establishment of the CoDstitutional Treasury; the ndnpiing of the Wcrehonsmg system; and the gradualion and reduction of the prico of the public lands, which have been subject to a