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dition thereto; and the said collector shall render to the Secretary of the Treasury, with his accounts of the customs, a statement, showing the amount of moneys so paid, the amount of duties chargeable on the goods so taken, and the amount of proceeds paid into the treasury; and this section shall be in force until the first of July, eighteen hundred and forty-eight, unless otherwise directed by Congress.

Sec. 10. And be it further enacted, That the deputies of any collector, naval officer, or surveyor, and the clerks employed by any collector, naval officer, surveyor or appraiser, who are not by existing laws required to be sworn, shall, before enter ing upon their respective duties, or, if already employed, before continuing in the discharge thereof, take and subscribe an oath or affirmation faithfully and diligently to perform such duties, and to use their best endeavors to prevent and detect frauds upon the revenue of the United States; which oath or affirmation shall be administered by the collector of the port or district where the said deputies or clerks may be employed, and shall be of a form to be prescribed by the Secretary of the Treasury.

Sec. 11. And be it further enacted, That no officer or other person connected with the navy of the United States, shall, under any pretence, import in any ship or vessel of the United States any goods, wares or merchandise liable to the payment of any duty.

Sec. 12. And be it further enacted, That all acts and parts of acts repugnant to the provisions of this act, be, and the same are hereby repealed.

The Vote in the House, July 3d, was as follows:

YEAS-Messrs. Stephen Adams, Anderson, Atkinson, Bayly, Bedinger, Benton, Biggs, James A. Black, Bowlin, Boyd, Brinkerhoff, Brockenbrough, William G. Brown, Burt, Cathcart, Augustus A. Chapman, Reuben Chapmau, Chase, Chipman, Clarke, Cobb, Collin, Cullom, Cunningham, Daniel, Dargan, Jefferson Davis, De Mott, Dobbin, Douglass, Dromgoole, Dunlap, Ellsworth, Faran, Ficklin, Fries, Giles. Goodyear, Gordon, Grover, Hamlin, Haralson, Harmanson, Henley, Hilliard, Hoge, Isaac E. Holmes, Hopkins, Hough, George S. Houston, Edmund W. Hubard, James B. Hunt, Hunter, James H. Johnson, Joseph Johnson, Andrew Johnson, George W. Jones, Seaborn Jones, Kaufman, Kennedy, Preston King, Lawrence, Leake, La Sere, Lumpkin, Maclay. McClelland, McClernand, McConnell, McCrate, Joseph J. McDowell, James McDowell, McKay, John P. Martin, Barclay Martin, Morris, Morse, Moulton, Niven, Norris, Parish, Payne, Perrill, I'helps, Pillsbury, Rathbun, Reid, Relfe, Rhett, Roberts, Sawtelle,

Sawyer, Scammon, Seddon, Alexander D. Sims, Leonard H. Sims, Simpson, Thomas Smith, Robert Smith, Stanton, Starkweather, St. John. Strong, Jacob Thompson, Thurman, Tibbatts, Towns, Tredway, Wick, Williams, Wilmot, Wood, Woodward and Yancey-114.

NAYS-Messrs. Abbott, John Quincy Adams, Arnold, Ashmun, Barringer, Bell, James Black, Blanchard, Brodhead, Milton Brown, Buffington, William W. Campbell, John H. Campbell, Carroll, Cooke, Collamer, Cranston, Crozier, Culver, Darragh, Garrett Davis, Delano, Dixon, Dockery, Edsall, Erdman, John H. Ewing, Edwin H. Ewing, Foot, Foster, Garvin, Gentry, Giddings, Graham, Grider, Grinnell, Hampton, Harper, Elias B. Holmes, John W. Houston, Samuel D. Hubbard, Hudson, Hungerford, Washington Hunt, Charles J. Ingersoll, Joseph R. Ingersoll, Jenkins, Daniel P. King, Leib, Lewis, Levin, Long, McClean, McGaughey, McHenry, Mcll. vaine, Marsh, Miller, Moseley, Pendleton, Perry, Pollock, Ramsey, Ritter, Julius Rockwell, John A. Rockwell, Root, Runk, Russell, Schenck, Seaman, Severance, Truman Smith, Albert Smith, Caleb B. Smith, Stephens, Stewart, Strohm, Sykes, Thibodeaux, Thomason, Benjamin Thompsou, James Thompson, Tilden, Tombs, Trumbo, Vance, Vinton, Wheaton, White, Winthrop, Woodruff, Wright, Young and Yost-95.

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LOAN AND TREASURY NOTE BILL.

Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, That the President of the United States is hereby authorized to cause treasury notes to be issued for such sum or sums as the exigencies of the government may require, and in place of such of the same as may be redeemed to cause others to be issued, but not exceeding the sum of $10,000,000 of this emission outstanding at any one time, and to be issued under the limitations and other provisions contained in the act, entitled "Au act to authorize the issue of treasury notes," approved the 12th of October, 1837, except that the authority hereby given to issue treasury notes shall expire at the end of one year from the passage of this act.

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Sec. 2. And be it further enacted, That the President, if in his opinion it shall be the interest of the United States so to do, instead of issuing the whole amount of treasury notes authorized by the first section of this act, may borrow on the credit of the United States such an amount of money as he may deem proper, and issue therefor stock of the United States for the sum thus borrowed, in the same form and under the same restrictions, limitations and provisions as are contained in the act of Congress, approved April 14, 1842, entitled An act for the extension of the loan of 1841, and for an addition of five millions of dollars thereto, and for allowing interest on treasury notes due:" Provided, however, That the sums borrowed, together with the treasury notes issued by virtue of this act, shall not, in the whole, exceed the sum of ten millions of dollars; And provided, further, That no commission shall be allowed or paid for the negotiation of the loan authorized by this act; and also, that the said stock shall be redeemable at a period not longer than ten years from the issue thereof.

Sec. 3. And be it further enacted, That the treasury notes and the stock issued under the provisions of this act shall not bear a higher rate of interest than six per cent. per annum, and no part thereof shall be disposed of at less than par.

Sec. 4. And be it further enacted, That no compensation shall be made to any of ficer, whose salary is fixed by law, for preparing, signing, or issuing treasury notes; nor shall any clerk be employed beyond the number authorized by the act herein referred to.

Sec. 5. And be it further enacted, That the sum of fifty thousand dollars be, and the same is hereby, appropriated out of any money in the treasury not otherwise appropriated, for the purpose of paying the amount of certain treasury notes which

having been received or redeemed by any authorized officer of the government, and subsequently purloined or stolen and put into circulation, without evidence on their face of their having been cancelled to the respective holders, who may have received the same or any of them for a full consideration in the usual course of business, without notice or knowledge of the same having been stolen or cancelled or altered, and without any circumstances to cast suspicion on the good faith or due caution with which they may have received the

same.

Vote in the House, July 15.-Yeas, 113; Nays, 47. Majority 71.

WAREHOUSING BILL.

A BILL to amend an act, entitled" An act to provide revenue from imports, and to change and modify existing laws imposing duties on imports, and for other purposes."

Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, That the twelfth section of the act, entitled "An act to provide revenue from imports, and to change and modify existing laws imposing duties on imports, and for other purposes," approved the thirtieth day of August, one thousand eight hundred and forty-two, is hereby amended so as hereafter to read as follows:

[Sec. 12. And be it further enacted, That on and after the day this act goes into operation, the duties on all imported goods, wares, or merchandise, shall be paid in cash: Provided, That in all cases of failure or neglect to pay the duties within the period allowed by law to the importer to make entry thereof, or whenever the owner, importer, or consignee shall make entry for warehousing the same, in writing, in such form, and supported by such proof, as shall be prescribed by the Secretary of the Treasury, the said goods, wares or merchandise shall be taken possession of by the collector, and deposited in the public stores, or in other stores to be agreed on by the collector or chief revenue-officer of the port and the importer, owner, or consignee; the said stores to be secured in the manner provided for by the first section of the act of the twentieth day of April, one thousand eight hundred and eighteen, entitled "An act providing for the deposit of wines and distilled spirits in public warehouses, and for other purposes," there to be kept with due and reasonable care, at the charge and risk of the owner, importer, consignee, or agent, and subject at all times to their order upon the payment of the proper duties and expenses, to be ascertained on due entry thereof for warehousing, and to be secured

by a bond of the owner, importer, or consignee, with surety or sureties to the satisfaction of the collector, in double the amount of the said duties, and in such form as the Secretary of the Treasury shall prescribe: Provided, That no merchandise shall be withdrawn from any warehouse in which it may be deposited, in a less quantity than in an entire package, bale, cask, or box, unless in bulk; nor shall mer chandise so imported in bulk be delivered except in the whole quantity of each parcel, or in a quantity not less than one ton weight, unless by special authority of .the Secretary of the Treasury. And in case the owner, importer, consignee, or agent of any goods on which the duties have not been paid, shall give to the collector satisfactory security that the said goods shall be landed out of the jurisdiction of the United States, in the manner now required by existing laws relating to exportations, for the benefit of drawback, the collector and naval officer, if any, on an entry to reexport the same, shall, upon payment of the appropriate expenses, permit the said goods, under the inspection of the proper officers, to be shipped without the payment of any duties thereon. And in case any goods, wares, or merchandise, deposited as aforesaid, shall remain in public store beyond one year, without payment of the duties and charges thereon, then said goods, wares, or merchandise shall be appraised by the appraisers of the United States, if there be any at such port, and if none, then by two merchants to be designated and sworn by the collector for that purpose, and sold by the collector at public auction, on due public notice thereof being first given, in the manner and for the time to be prescribed by a general regulation of the Treasury Department: and at said public sale distinct printed catalogues descriptive of said goods, with the appraised value affixed thereto, shall be distributed among the persons present at said sale; and a reasonable opportunity shall be given before such sale, to persons desirous of purchasing, to inspect the quality of such goods; and the proceeds of said sales, after deducting the usual rate of storage at the port in question, with all other charges and expenses, including duties, shall be paid over to the owner, importer, consignee, or agent, and proper receipts taken for the same: Provided, That the overplus, if any there be, of the proceeds of such sales, after the payment of storage, charges, expenses, and duties as aforesaid, remaining unclaimed for the space of ten days after such sales, shall be paid by the collector into the treasury of the United States; and the said collector shall transmit to the Treasury Department, with the said overplus, a copy of the

inventory, appraisement, and account of sales, specifying the marks, numbers, and descriptions of the packages sold, their contents and appraised value, the name of the vessel and master in which, and of the port or place whence they were imported, and the time when, and the name of the person or persons to whom said goods were consigned in the manifest, and the duties and charges to which the several consignments were respectively subject; and the receipt or certificate of the collector shall exonerate the master or person having charge or command of any ship or vessel in which said goods, wares, or merchandise were imported, from all claim of the owner or owners thereof, who shall nevertheless, on due proof of their interest, be entitled to receive from the treasury the amount of any overplus paid into the same under the provisions of this act: Provided, That so much of the fifty-sixth section of the general collection-law of the second March, seventeen hundred and ninetynine, and the thirteenth section of the act of the thirtieth of August, eighteen hundred and forty-two, to provide revenue from imports, and to change and modify exist ing laws imposing duties on imports, and for other purposes, as conflicts with the provisions of this act, shall be and is hereby repealed, excepting that nothing contained in this act shall be construed to extend the time now prescribed by law for selling unclaimed goods: Provided, also, That all goods of a perishable nature, and all gunpowder, fire-crackers, and explosive substances, deposited as aforesaid, shall be sold forthwith.

Sec. 2. And be it further enacted, That any goods, when deposited in the public stores in the manner provided for in the foregoing section, may be withdrawn therefrom, and transported to any other port of entry, under the restrictions provided for in the act of the second March, seventeen hundred and ninety-nine, in respect to the transportation of goods, wares and merchandise, from one collection district to another, to be exported with the benefit of drawback; and the owner of such goods so to be withdrawn for transportation shall give his bond with sufficient sureties, in double the amount of the du ties chargeable on them, for the deposite of such goods in store in the port of entry to which they shall be destined, such bond to be cancelled when the goods shall be re-deposited in store in the collection district to which they shall be transported: Provided, That nothing contained in this section shall be construed to extend the time during which goods may be kept in store after their original importation and entry beyond the term of one year.

Sec. 3. And be it further enacted, That

if any warehoused goods shall be fraudulently concealed in, or removed from any public or private warehouse, the same shall be forfeited to the United States; and all persons convicted of fraudulently concealing or removing such goods, or of aiding or abetting such concealment or removal, shall be liable to the same penalties which are now imposed for the fraudulent introduction of goods into the United States; and if any importer or proprietor of any warehoused goods, or any person in his employ, shall by any contrivance fraudu lently open the warehouse, or shall gain access to the goods, except in the presence of the proper officer of the customs, acting in the execution of his duty, such importer or proprietor shall forfeit and pay for every such offence, one thousand dollars. And any person convicted of altering, defacing, or obliterating any mark or marks which have been placed by any officer of the service on any package or packages of warehoused goods, shall forfeit, for every such offence, five hundred dollars.

Sec. 4. And be it further enacted, That the collectors of the several ports of the United States shall make quarterly reports to the Secretary of the Treasury, according to such general instructions as the said secretary may give, of all goods which remain in the warehouses of their respective ports, specifying the quantity and description of the same; which returns, or tables formed thereon, the Secretary of the Treasury shall forthwith cause to be published in the principal papers of the city of Washington.

Sec. 5. And be it further enacted, That the Secretary of the Treasury be, and he is hereby authorized to make, from time to time, such regulations, not inconsistent with the laws of the United States, as may be necessary to give full effect to the provisions of this act, and secure a just accountability under the same; and it shall be the duty of the secretary to report such regulations each succeeding session of Congress.

LAND GRADUATION BILL.

Be it enacted by the Senate and House

of Representatives of the United States of America in Congress assembled, That all public lands which shall have been of fered for sale twenty years or more on the first day of December, 1846, shall thereafter be subject to entry at one dollar per acre for the term of five years; all the be fore described lands then remaining unsold shall be subject to entry at seventy-five cents per acre for another term of five years; and all such unsold at the end of the last-mentioned term may be entered at fifty cents per acre.

Sec. 2. And be it further enacted, That the quantity of land which the President of the United States shall hereafter proclaim and offer for sale in any one year shall not exceed three millious of acres.

Sec. 3. And be it further enacted, That upon every reduction in the prices of said lands which shall take piace by the gradaating process of this act, the occupants or settlers upon any of the said lands shall have the right of pre-emption at such graduated or reduced prices; which right shall extend to a period of six months from and after the dates at which the respective graduations shall take place; and any land not entered by the respective occupants or settlers within that period, shall be liable to be entered or purchased by any other person until the next graduation or reduction in price shall take place, when it shall, if not previously purchased, be again subject to the right of pre-emption for six months, as before, and so on from time to time as said reduction shall take place: Provided, That nothing in this act contained shall be construed to interfere with any right which has accrued, or may accrue by virtue of any act granting preemptions to actual settlers upon the public

lands.

Sec. 4. And be it further enacted, That all acts and parts of acts as provide for an exemption from the imposition of taxes upon land sold by the United States for five years from and after the day of sale, Vote in the Senate, July 15.-Yeas, 31; be, and the same are hereby repealed. Nays, 20. Majority 11.

Vote in the House, July 14.-Yeas 92; Nays 89. Majority 3,

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THE tariff law enacted by Congress at the last session, is of itself important, not because it actually diminishes, to any great extent, the taxation upon consumable goods, but because it renounces the theory of protection to certain branches of industry. It overthrows a principle, more or less acted upon since the formation of the government, and marks the emancipation of the people of the United States from one of the heir-looms of monarchy. It is, as it were, a second declaration of independence. It is the assertion, on the part of the American people, of a just confidence in their own skill, resources, and industry; that, while for the support of government, they resort to indirect taxes upon imported goods for a revenue, they do so, not to defend their artisans from the supposed superior skill of foreign operatives, but simply to sup ply, in the least troublesome way, the moderate wants of the government. The degrading idea that, possessed of a most prolific soil, capable of supplying every possible variety of raw materials, and enjoying every facility for their manufacture, intelligent and industrious Americans have not intellectual capacity sufficient to compete with Europeans, is repudiated. The experience of the last 40 years has, indeed, been fatal to the protective theory, which so long overshadowed the industry of the commercial world. As long as every branch of business, and all

industrial pursuits, were loaded with protective burthens, and hampered with restrictions of all sorts, supposed necessary to their existence, it was very easy to predict, and to propagate a popular belief in the prediction, that total ruin, pauperism and starvation, would overtake every soul, if those musty enactments should be disturbed. It was quite a discovery of philosophers in the 18th century, that wealth consisted in the produce of labor; but it was still supposed that labor would not produce available wealth, unless governed, guided, and restricted by laws enacted by those who never labored themselves. Adam Smith was the first who clearly demonstrated that there is wealth in all labor, and that governmental enactments do not, and cannot enhance the national wealth in the smallest degree; that their only effect is, by restraining industry, to diminish the aggregate amount, while they transfer the most of it from the hands of the producers, to whom it belongs, to those of law-makers and gentry. These latter, in a state of limited suffrage, constituted the nation; and those laws which accumulated wealth in their hands, were to them visibly beneficial, notwithstanding that the vast mass of unrepresented producers of that wealth were impoverished. As long as free trade was not tried, it was easy to denounce it as a wild and ruinous chimera. When, however, in the lapse of years and the

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