State of the Union AddressesPolk, James K. (James Knox)
History
State of the Union Addresses
Polk, James K. (James Knox)
Presidents -- United States -- Messages; United States -- Politics and government -- Sources
The attention of Congress is invited to the importance of making suitable
modifications and reductions of the rates of duty imposed by our present
tariff laws. The object of imposing duties on imports should be to raise
revenue to pay the necessary expenses of Government. Congress may
undoubtedly, in the exercise of a sound discretion, discriminate in
arranging the rates of duty on different articles, but the discriminations
should be within the revenue standard and be made with the view to raise
money for the support of Government.
It becomes important to understand distinctly what is meant by a revenue
standard the maximum of which should not be exceeded in the rates of duty
imposed. It is conceded, and experience proves, that duties may be laid so
high as to diminish or prohibit altogether the importation of any given
article, and thereby lessen or destroy the revenue which at lower rates
would be derived from its importation. Such duties exceed the revenue rates
and are not imposed to raise money for the support of Government. If
Congress levy a duty for revenue of 1 per cent on a given article, it will
produce a given amount of money to the Treasury and will incidentally and
necessarily afford protection or advantage to the amount of 1 per cent to
the home manufacturer of a similar or like article over the importer. If
the duty be raised to 10 per cent, it will produce a greater amount of
money and afford greater protection. If it be still raised to 20, 25, or 30
per cent, and if as it is raised the revenue derived from it is found to be
increased, the protection or advantage will also be increased; but if it be
raised to 31 per cent, and it is found that the revenue produced at that
rate is less than at 30 per cent, it ceases to be a revenue duty. The
precise point in the ascending scale of duties at which it is ascertained
from experience that the revenue is greatest is the maximum rate of duty
which can be laid for the bona fide purpose of collecting money for the
support of Government. To raise the duties higher than that point, and
thereby diminish the amount collected, is to levy them for protection
merely, and not for revenue. As long, then, as Congress may gradually
increase the rate of duty on a given article, and the revenue is increased
by such increase of duty, they are within the revenue standard. When they
go beyond that point, and as they increase the duties, the revenue is
diminished or destroyed; the act ceases to have for its object the raising
of money to support Government, but is for protection merely. It does not
follow that Congress should levy the highest duty on all articles of import
which they will bear within the revenue standard, for such rates would
probably produce a much larger amount than the economical administration of
the Government would require. Nor does it follow that the duties on all
articles should be at the same or a horizontal rate. Some articles will
Public-domain text, read in full here on John Shaqi.
Reviews
Reviews
No reviews yet
Be the first to share your thoughts on this work.
Join the Discussion
Join the discussion
Sign in to leave a comment or review.
Sign InorCreate an account