Westward extension, 1841-1850, by George Pierce Garrison.

I845]

FINANCIAL QUESTION

I85

against fostering "one branch of industry to the
detriment of another." This declaration, however,
made when the issue of protection took on so definitely in the popular mind the aspect of a struggle between the agricultural and manufacturing interests, had a clearer ring at the time than it might
have to-day. In his inaugural address Polk stressed this feature, and declared against a tariff for protection rather than for revenue.1 In his first annual
message he reiterated his views, defined the revenue
standard as that which would forbid the increase of
duties to a point where the tariff receipts would
begin to diminish, condemned the tariff of I842 as
not agreeing with this standard, and recommended
a revision which should substitute ad valorem for
specific duties. In his report to Congress at the
same time (December, i845), the secretary of the
treasury, Robert J. Walker, ably reviewed the whole
subject, and made recommendations in line with
those of the president.2
Action on the tariff was somewhat delayed by the
pressure of other questions, especially that concerning the notice of abrogation of the Oregon convention;3 but at length a bill, framed in accordance with
the message and the report by Secretary Walker, in
consultation with the proper committees of ConI Dewey, Financial Hist. of U. 5., 194; Richardson, Messages
and Papers, IV., 379.
2 Richardson, Messages and Papers, IV., 403-406; report in
Niles' Register, LXIX., 232-237. 3 See p. 170, above.