enjoyment of the disputed market. Having proposed that the duty on imported iron, after remaining for a limited period at its present rate, should thereafter be gradually reduced to a minimum, it remains that we should examine at what rate this minimum should be fixed. This we conceive may be adjusted merely as a question of revenue. Raw iron being a material of great weight, in proportion to its value, cannot be smuggled; it will therefore bear, among all articles, nearly the highest rate of impost, in proportion to its cost. This rate of duty should be calculated upon the higher qualities of wrought and bar iron, and be applied equally to all the different shades of each article. For a wise policy would dictate that the import of the inferior sorts should be more impeded than that of the best descriptions. This is analogous to the system at present sanctioned by law, and is dictated by sound views. Fixing then the minimum duty at about twenty-five per cent, on the value of the better qualities of the two varieties of raw iron, it will amount to about seven and a half dollars on the pig, and fifteen dollars on the bar. To this limit we believe that the duty may be finally reduced, without causing injury to our own trade, provided the present duties remain in force for fourteen years, and be then gradually lessened to this assumed minimum. It will be seen, that our views neither go the whole length of those of the sticklers for either system, the _tariff_ or the _anti-tariff_,--and we fear, that, at the moment, they will be equally objectionable to the advocates of both. We however cannot but believe, that they are founded upon sound and just principles. We give the fullest meed of praise to that policy which has recalled into existence by a protecting duty, the most important of manufactures, because the basis of all the rest. But, we cannot see that it would be judicious to continue this duty, after it shall have produced its whole vivifying effect. While, therefore, on the one hand, it appears to be no more than a fulfilment of a solemn contract, that the manufacture of iron shall be protected, we cannot urge that that protection should continue forever; and, in relation to the diminution of duty, we conceive that it ought to be gradual, and not sudden. Modified in conformity with such principles, we conceive that a "judicious tariff" might be rendered popular in all parts of the Union.