The public revenue derived from
customs during the year ending on the 1st of December, 1847, exceeds by
more than $8,000,000 the amount received in the preceding year under the
operation of the act of 1842, which was superseded and repealed by it.
Its effects are visible in the great and almost unexampled prosperity
which prevails in every branch of business.
While the repeal of the prohibitory and restrictive duties of the act of
1842 and the substitution in their place of reasonable revenue rates
levied on articles imported according to their actual value has
increased the revenue and augmented our foreign trade, all the great
interests of the country have been advanced and promoted.
The great and important interests of agriculture, which had been not
only too much neglected, but actually taxed under the protective policy
for the benefit of other interests, have been relieved of the burdens
which that policy imposed on them; and our farmers and planters, under a
more just and liberal commercial policy, are finding new and profitable
markets abroad for their augmented products.
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