Constitutional Whig. [volume] (Richmond, Va.) 1824-1832, 1832-01-19


which j, IS contemplated to make grca, y. due
Ton cf the public revenue. Two radical chan
res have presented themselves To my mind and
which | will now suggeS, for consideration and
Investigation. On such subject, | would,
| however, seek from the mercantile community
and practical men, ell the light which they are
so capable of alordpg, and should be reluc' ant
| to act on n:v own convictions, however strong
The first is TO make total change IN the
place Of valuation. Now the valuation is made
in Foreign Countries. We fix the duties, and
we leave to foreigners to assess the value on ar
tices paving I'D valurcm duties. That is, we
prescribe the rule. end leave its execution to
! the foreigner. This is anomaly, | believe,
peculiar 10 this country. 1t is evident that the
amount of duty payable on n given article sub
: lect to an ad valorcm duty, may DC effected as
much by the iixation CT tie value, os by the
specification of the duty. And, for all pracica,
purposes, il would be Just as safe to retain to
ourselves the asccrtairmCnt of the value, and
leave to the foreigner to prescribe the duty, as
it Is to reserve to ourselves the right TO declare
the duty and allow to him the privilege to assess
| the value.
! The effect of this vicious condition of the law
has been to throw almost the whole import trade
of the country, as to some important articles, into
the hands of the foreigner. L have been inform
cd that scvcn-cights of the importation of wool
lens into the port of New York, where more
is received thdn III all tno olhcr ports OF the U.
States together, are in his hands. This has not
proceeded from any want of enterprise, ntei-
gcncc, or capital, on tho part of the American
merchant; for in these particulars, lie is surpassed
by tho merchant of no country. 1t has resulted
from his probity, his character, and his respect
to the laws and institutions of his country-a re-
spcct which does not influence the foreigner. am
aware that it is made by law, the duty of the APP
praiscr to ascertain tho value of the goods in
tain cases. But what is his chief guide? 1t is the
i'm adj bv yyhn lp
| ccrtainly by no person responsible to our laws
And, if it's fairness be contested they will bring
you carloads of certificates and ailidavts from
unknown persons TO verify its cXactncss, and the
| first cost of the article.
| Now, sir il seems to me that this is a state
of things TO which should promptly apply
an ctiicacious remedy, and no other appears to
me, but that of taking into our own hands both
parts of the operation, the asccrtainment of the
i value well the duty TO be paid on the
goods. If it be said that we might have, in
different ports, different rules, the answer is,
that there could be diversity greater
than that TO which we are liable from the fact
of the valuation being made in ali the
ports of foreign countries from which make
our mporations. And that it is better to have the
valuations made by PERSONS responsible to own
Government and regulated by one head than by
unknown foreigners, standing under no response
/ bility whatever to us.
The other change to which aude, is to reduce
the credits allowed for the payment of duties and
to render them uniform. II would be better, if not
injurious to commerce, to abolish them altogether.
! Now we have various periods of credit graduated
according to the distance of the foreign port, and
the nature ofthc trade. These credits operate as
SO much capital on which the foreign merchant can
sometimes make several adventures before the ar
rival of the day of payment. There is no rccipro.
cal advantage afforded to the American merchant
| believe, IN any foreign port As we shall prob
ably abolish or reduce greatly the duties all
uclcs imported from beyond the Cape of Good
i icI, tlnI
! the moment would seem to be proptious for re.
strictng the other credits in such manner, that
whilst they afforded reasonable facility To the
merchant they should not supply the foreigner at
the instance ofthc public with capital for his
camille operations 1.-THE laws be strictly cntorc
ed, and some such alterations have been suggested
can be carried into effect, it is quite probable that
satisfactory reduction may be made of the duties
upon some of the articles falling within the system
oil protection. And, without imparting its principle
other modes of relief may possibly be devised to
| some OF those interests upon which it is supposed
to press most heavily.
| There remains one view to present to the Senate
in respect to the amount of reduction of the reve
nue., which will be Produced by the proposed mca
sure if adopted, and its influence upon the pay
mcnt of the public debt within the time suggested
10y the Secretary of the Treasury. The estimate
which have made of that amount is founded upor
treasury returns prior to the late reduction of du
ties tea, coffee, and cocoa. Surprising the du
ties wines and silks to be reduced as low as
think they may be, the total amount of rcvc
nue. with which the proposed measure will dispense
will be about $7,O00,000 The Secretary of the
Treasury estimates the receipts of the present yea
from all sources at $50, l00 GOO, and he suppose
those of the next year will be of an equal amount
He acknowledges that the past year has been one
of extraordinary commercial ACTIVITY; but on VIVA
principles does he anticipate that the present will
also boi The history Of our demon
stratcs tina: it aternatcs and that year Of intern
perate speculation is usually followed by one o
more guarded importation. That the Importation
of the past year have boon excessive believe il
generally confessed, and is demonstrated by two
uncring facts The first is, that the imports have
exceeded the exports by about seventeen millions
dollars. Whatever may be the qualifications t.
which tho theory of the balance of trade may bt
liable, it may be safely affirmed that when thu
aggregate Of the importations from all foreign
tations to ali foreign countries considerably
the unfavorabo balance must be made up by
remittance of the precious metals to some eX
tent Accordingly find the existence of thu
other fact to which allude, the high price of bill
OF exchange on England It is, therefore, fairly
r to be anticipated that the duties accrung this yea
will be less in amount than those OF the past year
And think it would be unwiso to rely upon ou
present information to tho income Of either o
these two years as furnishing n safe guido fo
r. the future. The years 1929 and 1880 will supply
a surer criterion. There is remarkable coinci
dence In the amount of the receipts into the Urea
sury during those two years. it having been the frs
from all sources go, 1921, 627 3S, and the socont
S2l ,oll, ZIG 81, differing only about Sl7, 900.
Inc mode recommended by tho Secretary fo
the modification of the Tariff 10 to reduce par
OF the duties on the unprotected articles, prior tt
= march, 1888, and then to retain considerable