Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1821-02-13
THE NATIONAL FINANCES.

report ~ the Committee OF WayS and
.deans up0n The subject Of the Rere-
nae.
Tue committee oil Ways and Means. to whom
! were refers d three resolutions oil tue Sd in
| slant, requiring OF the Committee to enquire
| anei report, a" whether, in their opinion, the
permanent revenue is adequate to the expen
| sss OF the government - whether any mea-
sures are necessary to increase the revenue,
| and It SO, TO repcr, those measures - end "to
enqare into tie expectancy OF prohibiting, or
imposing additional duties OH the import alton
| OF foreign spirits, amd imposing an excise on
| domestic distilled spiri,s,' report
That they have bad these important sub
Jects under their lnsi,leFstion, aud have OBJ
| ,a,Aes rom the several departments all the
information which the officers at their head
| could FURNISH yet, such are tAe difficulties
Tia! present thems elves, tina, they enter into
lie discussion and the statements necessary
To elucidate tile subj Set, with great dfiidcnce
They may dlHsr in ops1ion with gs n,lenen
for whose talents they have the highest res
| pect, and ia whose integrity they have un
| bounded conii!ence the subject is one howe
Yer, on which the best friends may fairly diff
| Ter in opinion.
Is the termdReis revenue adequate TO the er.
T, benaes Of The goSeinmeat /?
The teve,lue is malnly bottomed on the du.
| ties arising on the importaions of foreign
goods 1t is, therefore dependant cn fortt
Gus circuin.tanccs, which cannat easily be
| forescen, and VIII CHI may tend TO its increase
| or decrease there are some, however, which
| car, IN degree, be appreciated. The tariff
| OF 1916 was expected 10 operate a losy to the
revenue, ~ glsrg what was considered at
| this Tune sufficient encouragement to the man
| ufactures of the country. variety of causes,
arising out of eScessive and ruiiiuus i'm; oria.
! tons, and the time required for diverlilg one
channel OF commerce or supplies int~ another,
has, until lately, prevented the effect from
, beng ma eria,ly !elt. The operation of that
| tariff is now beginning 20 be kaown, and the
effect on the revenue IS believed to be con
siderable S extent is, now ever, not COM
pleteiy developed. Its operation on few of
the principal articles may afford some idea OF
the increase vi our manufactures, and the con-
sequent decrease of the revenue resulting from
the duties ON the importation of such articles.
The tariff OF 1916, increased the duty ON
brown sug -r abou; 30 per cent. and gave
protecting duty 10 tnal article of three cents
per pound M material decrease has, as vet,
resulted 10 the revenue thcretrom. The tariff
was enacted during the exstence of the ex.
else on domestic distilled spirits, and an add
tlCnal duty was imposed tor the protection Of
the dosaestic article. The excise OIL Import
ed spirits was repealed the duly was con.
tirued, and the duty OH foreign spirits exceeds,
at this time, the whole Value OF the domestic,
The average duty on the imported being as
cents per Sallor, when the value in The mar
ketof the domestic does not exceed 80 cents
the gallon This has tendcd, il Is believed, to
decrease the consumption Of foreign spir t.,
and, Of course the amount Of the revenue Ia
1878, the nett revenue from imported spirits,
after deduciing the debrntures, amounted to
2 646,1S6 dollars, and in 1919, TO $50 .25
dollars
The tariff Of 1916 raised The duties on cot
ton and wooien cloths from IA per cent. he
du;y i'm osed prior 10 tie late W ,r, to 25 per
cent and it valued all cotton CLOTHS uuder
cost OF 25 cents the square yard, (,lthough
some cost as low a six ceHts,) as il hey lad
acteaiiy cost IS cents, and charged tie du
~ thereon acc rlr"gy. The result has
been, that ton goods imported from India,
under cost of 25 cents the aquare yard, pa
duty exceedirg So per ceqt on the averag
cost OF thvse heretofore imported from Lllat
country, and above 40 per cent. on the aver
age c1s cf aimiar goods sh n imported from
Europe. The operation has ba Il salutary eff
fest on infant manufactures of cotton,
which begins to be understood by the m ,nu-
facture $. The impOrtations from dia of
zach cottons as are undcr cost of rs cents
TIE .qnare yard, have almost ceased, for con-
sumbn1a, and those from Europe have de
creased, it is believed, to con iiderable
extent. Thee coarse co'tons Of our domestic
manufactures have entered, ii is believed, into
tie consumption OF the nltion, nearly equal to
The wants Of the people. The increase of our
woolien manufactures has afforded n conside.
rable quantity Of wooileR cloths for consump
ton, bat We hive no inform on which TO
form decided opinion to its extent; Other
important articles Of domestic manufactures are
s'l.n'lg e,terIng INTO competition with those
hpr Al "a ifpD Z. IL frrr
Those circumstances. added TO the dis
tresses of the people, and to the price of our
exports, berg such as, in great degree, to
affect the means OF paying for imports, make
IT extremely difficult to form correct esti-
mate OF the eyenue which may arise he cal. CT
from duies on imports, estimated on that
which had been received in former years.
With those views. which Ike committee have
deemed it proper to submit, they proceed
to answer h first resolu ion.
They are OF opini m, " that tie rere1ute 4yJ,ich
7yW be received in The present gear ,giH be ade.
qHGte 10 the c.rpenseS attic gove,7rment :" and
siou.d no change IKE place, the revenue
VIII, ~ their opinion, during the years 1922
1925, and 1924, be not Only equal /, the ex-
peases OF the government, but afford such a
surpli', applicable to the payment of the loan
ct the la year, and any that may be au,ho
II ed Tor th's year, as Will, before the first day
OF January, 1875, FULLY repay The amount Dor
row d. The House will remembe7, that as The
approximation bills have not passed, he real or
true expenses nt government cannot be cor
rcctly stated. The committee are compelled,
therefore, TO bottom their statement on the es-
t'mated expenses, sHbnut ell 80 Congress,
which viii, it Is confidently believed, be re-
duced ut least one and a half m,liou o dollars
1t - now reduced to q ce ta;nty, jhat the &C
tnai recc pts from hs customs into the Trsa-
sur, du ing he year 1870, have been Is 005.-
) g dolls. which amount, il is mumby YncciY