Literary cadet and Rhode-Island statesman. [volume] (Providence, R.I.) 1827-1829, 1828-11-08

GOVERNMENT CREDIT, &c.--The Chamber
Of Commerce, Of Philadelphia, have addressed
the following Memorial TO the Congress Of tho
United States.
To the Honorable the sena,. and House Of Of
M UnG,J sisic Con, nI.J, the Meuoiia ia vi
The Philadelphia Chamber oi Commerce
Respeoi|niiy shoneths
That your mcnorialists. impressed with the
belief, that great benefit would result to the
government, and to the community, by a
change in the mode Of collecting the duties OH
imports, beg leave, respectfully 10 suggest to
your consideration, that suitable warehouses
be provided by the government, in which i'm
ported merchandise may DO deposited under
charge Of the revenue officers, and that the
duties be payable in cash who such mere chan
dize is taken out for home consumption.
by such system. under liberal provisions,
your ineinorIa lists believe that the commerce
of the country would DO increased. aud the
collection Of the revenue rendered CERTAIN.
Merchants would not be obliged, as a present,
10 force their wares into consumption, or 10
re export them for the benefit Of drawback to
avoid greater loss.
By the present mode Of collecting the du-
! ties, opportunity is afforded to The importer,
and frequently embraced, for creating ivlt-
! ious capital 10 the amount of the duics lowed.
| Thus, assuming the duty at 33 l-3 per cent.
and that the goods be quickly converted INTO
money, as s extensively the case, three I'M
| port aiions leaves IN the hands Of the importer
| an amount equal 10 the first importation, aud
the more deeply he runs in dobt, the more cap
/ ital he will have at command. THIS tempta-
tion TO ovcrtradc, which IN many case is found
to be irrcsist tlbe, producing great INJURY to the
foreign and domestic trade of the country /,
would be romedied By the system We propose
while, AT the same time, az no duties modld be
payable, except when the mcrchandize should
be removed from the public stores for consump-
ton, no hardship would be experienced by the
importer, and II certainty OF supply to tho
country would be ensured.
Rcnuiriny s,itcijcs TO custom house bonds,
! by linking commercial houses together, IN
wolves many in the folly and nsiortunos Of a
few Very little advantage is derived by gov
ernmcnt from such suretIcs; for, during The
predominancc OF fictitious capital aud the cred
II system, tho appearances necessary for n Gus
tom house surety, are very readily acquired ny
tho facility Of creating capital, as above
shown.
Il is believed, also, that the best interests
Of the country would be promoted Ny encour-
aging IA foreign carrying trade. ~ present
an importer rs compelled TO re-eApoIt within
twelve months, at whatever disadvantage
NUUOuI rcleI hpVcHl, WI i'F' ''p p'""'' W
drawback, and have his goods thrown INTO tho
home market for winch, perhaps, they were
neither designed, nor AT ali adapted. To a
void this, cargocs are frequently shipped a
grcat expense and inconvenience, and landed
al foreign ports, there to await the opening o
"a suitable market.
As some articles Of a pcrishablc nature
a could not win proprety DO put INTO warehouse
and othors could not conveniently be sol,
while there, a liberal discount Of or pc
cent. or such other sum, as your honorable
. bodies may deem lust and proper, might b
! allowed to place the importers OF such good
upon a footing of equality with tho importer
Of articles 10 be warehouscd.
Aware Of the pcrnicious consequences whic
usually result from premature revolutions II
trade, we urge not any sudden or volcn
o change in tho long established commefcla
h. usage Of tho country, but respectfully recon
. | mend that convenient wa chOuses bc provide
= by government in all our principal ports. pre-
;. paratory TO any alteration Of the credit system
J. and that the existing revenue laws may nndeI
Il 90 such a Iudicious revision, as, while the
| shall ensure TO c0mmerce IT'S Just share
u public patronage, shall provide for the gradt
al introduction Of well digcsted system I
cash payment Of duties.
r And your mcmorialist will ever pray, Nc.
y ROBERT RALSTON, President
u JoHS VAUoHN, Secretary.
q