The act of 1842, by the excessive rates of duty which it imposed on many
articles, either totally excluded them from importation or greatly
reduced the amount imported, and thus diminished instead of producing
revenue. By it the taxes were imposed not for the legitimate purpose of
raising revenue, but to afford advantages to favored classes at the
expense of a large majority of their fellow-citizens. Those employed in
agriculture, mechanical pursuits, commerce, and navigation were
compelled to contribute from their substance to swell the profits and
overgrown wealth of the comparatively few who had invested their capital
in manufactures. The taxes were not levied in proportion to the value of
the articles upon which they were imposed, but, widely departing from
this just rule, the lighter taxes were in many cases levied upon
articles of luxury and high price and the heavier taxes on those of
necessity and low price, consumed by the great mass of the people. It
was a system the inevitable effect of which was to relieve favored
classes and the wealthy few from contributing their just proportion for
the support of Government, and to lay the burden on the labor of the
many engaged in other pursuits than manufactures.
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