heretofore to provide
against the dangers which it was quite evident the very nature of the
difficulty must necessarily produce caused a condition of financial
distress and apprehension since your last adjournment which taxed to the
utmost all the authority and expedients within executive control; and
these appear now to be exhausted. If disaster results from the continued
inaction of Congress, the responsibility must rest where it belongs.

Though the situation thus far considered is fraught with danger which
should be fully realized, and though it presents features of wrong to
the people as well as peril to the country, it is but a result growing
out of a perfectly palpable and apparent cause, constantly reproducing
the same alarming circumstances--a congested National Treasury and a
depleted monetary condition in the business of the country. It need
hardly be stated that while the present situation demands a remedy, we
can only be saved from a like predicament in the future by the removal
of its cause.

Our scheme of taxation, by means of which this needless surplus is
taken from the people and put into the public Treasury, consists of a
tariff or duty levied upon importations from abroad and internal-revenue
taxes levied upon the consumption of tobacco and spirituous and malt
liquors. It must be conceded that none of the things subjected to
internal-revenue taxation are, strictly speaking, necessaries. There
appears to be no just complaint of this taxation by the consumers of
these articles, and there seems to be nothing so well able to bear the
burden without hardship to any portion of the people.

But our present tariff laws, the vicious, inequitable, and illogical
source of unnecessary taxation, ought to be at once revised and amended.
These laws, as their primary and plain effect, raise the price to
consumers of all articles imported and subject to duty by precisely the
sum paid for such duties. Thus the amount of the duty measures the tax
paid by those who purchase for use these imported articles. Many of
these things, however, are raised or manufactured in our own country,
and the duties now levied upon foreign goods and products are called
protection to these home manufactures, because they render it possible
for those of our people who are manufacturers to make these taxed
articles and sell them for a price equal to that demanded for the
imported goods that have paid customs duty. So it happens that while