The American Congress assembled at Washington on the 5th of
December ; and the session was opened, as usual, by the Message of the President,—always a document of great interest, and peculiarly so at the present moment. . . . The financial affairs of the Union are in a most prosperous condition. . . The important and highly interesting question of the Tariff next comes under review. The language of the President is very decisive in favour of a large reduction of duties, as it was expected that it would be. He con- siders that the legitimate object of taxation is revenue ; and now that the public debt is all but extinguished, and the 'receipts from the Customs nearly double the amount required to defray the expenses' of the Government, he considers it sound policy to admit at low duties the products of foreign nations. He is willing only to make an exception in favour Of those articles of domestic manufacture which are essential to national independence and safety in time of-
, _
Previous page
