Note 24 — FIRST CONGRESS.—FIRST SESSION. (continued 4)

The preamble to this act, and the speeches in favor of it, have been greatly relied upon in support of a protective tariff, but without reason, as the speeches themselves, and the rate of duties established, fully show. Every speech showed revenue to be the object of every proposed duty—protection to domestic industry being an incident to result from the accomplishment of that object, and from such moderate duties as were then imposed—the ad valorems being five per centum, 7-1/2 and 12-1/2; and only a single class going as high as fifteen per centum, and that class confined to an article of luxury, to wit: imported pleasure carriages. The specific duties were on the like moderate scale; yet these moderate duties, thus laid for revenue, gave all the protection which was then asked, and to the satisfaction of every part of the Union, and cannot be quoted as any argument for the protective system which so much disturbed the country.