ABSTRACT
Like Mr. Jefferson who had an actual surplus in the Treasury to dispose of, and Mr. Monroe, who anticipated a surplus, General Jackson found himself in a condition requiring him to decide which one of two courses should be adopted - either to lower the duties upon imports to what is now called a revenue standard, so as to collect no more from customs than necessary to defray the expenses of Government; or to adhere to the principle of protection by levying duties with that view, without regard to the amount of revenue produced. He was considering the fact that the annual receipts of revenue exceeded the annual expenditures; and, consequently, that the surplus had to be disposed of in some way, inasmuch as the public debt would soon be paid. He could not have found apter language to express his desire for the continuance of the existing protective system.
