This can best be done by judicious provisions
that will induce the disclosure of attempted fraud by undervaluation
and smuggling. All revenue laws should be simple in their provisions
and easily understood. So far as practicable, the rates of taxation
should be in the form of specific duties, and not _ad valorem_,
requiring the judgment of experienced men to ascertain values and
exposing the revenue to the temptation of fraud.
My attention has been called during the recess of Congress to abuses
existing in the collection of the customs, and strenuous efforts
have been made for their correction by Executive orders. The
recommendations submitted to the Secretary of the Treasury by a
commission appointed to examine into the collection of customs duties
at the port of New York contain many suggestions for the modification
of the customs laws, to which the attention of Congress is invited.
It is matter of congratulation that notwithstanding the severe
burdens caused by the war the public faith with all creditors has been
preserved, and that as the result of this policy the public credit has
continuously advanced and our public securities are regarded with the
highest favor in the markets of the world. I trust that no act of the
Government will cast a shadow upon its credit.
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