Staunton spectator. [volume] (Staunton, Va.) 182?-183?, 1832-02-03


New York, where more is received than in
all the other parts ofthe U. States together,
are IN his hands. This has not proceeded
from any want OF enterprise, intelligence, or
capital, on the part of the American mer-
chant ;ifor, in these particulars, he is surpass-
ed by the merchant of no country Ii has
resulted from his probity, his character, and
his respect TO the laws and institutions of his
country-a respect which does not influence
the foreigner, unaware that il is made by
law, the duty of the appraiser to ascertain
the value ofthe goods in certain cases.-But
what is the chiefguide? Ii is the foreign in
voice, made 10y whom he knows not, GER
family by no person responsible 70 our laws
And, if its fairnesssbeTcontested, they will
bring you carloads Of certificates and affida-
wits from unknown persons TO verify its ex-
actness, and the first cost of the article.
NOW, Sir, II seems 10 me that this is a state
OF things to which we would promptly ap-
ply an eiiicaciousiremedy, and no other APP
pears TO me but thai oftaking into our hands
both parts of the operation, the ascertain
ment ofthc value as well as theduty to be paid
on the goods. If il be said that we might
have, in different ports, different rules, the
answer IS, that there could be no diversity
greater than that to which we are liable from
The fact Of the valuation being now made in
all the ports of foreign countries from which
we make our importations. And that il is bet
Ter 10 have the valuations made by persons,
responsible to our own Government. and
regulated by one head, than by unknown
foreigners, standing under no responsibility
whatever to U.S.
| The other change to which allude. il TO
reduce the credits allowed for the payment
oil duties and to render them uniform
Now we have various periods of credit grad
uated according to the distance OF the for
eIgn port, and the nature of the trade
These credits operate as so much capital on
which the foreign merchant can sometimes
make several adventures before the arrival
Oh the day oil payment There is no recipro-
Cal advantage afforded to the American mer-
chant' pelisve, In any foreign port. AS
we shall probably abolish or reduce rreatly
the duties on all articles imported from be-
yond the Cape of Good Hope, on which the
longest credits are allowed the moment
would seemto be propitious for restricting
The other credits in such manner, that whilst
they afforded reasonable, facility TO the mer-
chant, they should not supply the foreigner
at the instance the public, with capital for
ms mercantile operations. Ii the laws can
be strictly enforced, and some such altera-
lions as have been suggested, can be carried
lntoeffect, itisquite probable that satisfacto-
ry reduction may be made ofthe duties upon
some of the articles falling within the system
OF protection. And, without impairing its
principle, other modes of relief NAV possi-
bly, he devised to some of those intersstsup
on which II is supposed to press most heayi-
ly.
There remains one view TO present 10 the
Senate In respect TO the amount of reduction
OF the revenue which will be produced by the
proposed measure if adopted, and its influence
upon the payment of the public debt, within
the time suggested by the Secretary of
the Treasury The estimate which / have
made OF that amount is founded upon Treasu-
ry returns prior TO the late reduction of dn-
ties on tea, coffee, and cocoa Surprising the
duties on wines and silks to be reduced as
low as think they may be, the total amount
oirevenue with which the proposed measure
VIII dispense will be about $1,000, 000.-
The Secretary OF the Treasury estimates the
receipts OF the present year from all sources
at $50, loo, 900, and he supposes those ofthe
next year will be of an equal amount. He
acknowledges that the past year has been
one OF extraordinary commercial activity?
button what principles does he anticipate that
the present will be? The history of our
commerce demonstrates that it alternates
and that year of incorporate speculation is
usually followed by one OF more guarded
importation. That the importations of the
past year have been excessive believe is
generally confessed, and is demonstrated by
two unerring facts The first is, that the
imports have exceeded the exports by about
seventeen millions tof dollars Whatever
may be the qualifications to which the theo-
ry of balance of trade may he liable, it may
be safely affirmed that when the aggregate
ofthe importations from all foreign countries
exceeds the aggregate ofthe expectation 10
all foreign countries considerably, the unfa-
yorable balance must be made up by the re-
mittance Of the precious metal to some ex-
tent. Accordingly we find the existence Of
the other fact to which | allude, the high
price of bills Of exchange on England. 1t
is, therefore, fairly TO be anticipated that the
duties acCruing this year will be less in a.
mount than those of the past year. And |
think it would be unwise 10 rely upon our
present information as TO the income of eth
er OF these two years as furnishing a safe
guide for the future. The year 1929 and
1880 will supply surer criterion. There
is remarkable coincidence in the amount
OF the receipts into the Treasury during
those two years, it having been the FIRST
from all sources 1924, 1927 ,627 So, and the Sc
cond S24 844, ll6 81, difference only about
Sl7 900.
The mode recommended by the Secretary
for the modification of the Tariff is to reduce
no part Of the duties on the unprotected ar
ticles, prior to March, 1882, and then to re-
tain considerable portion of them. And as
to the protected class, he would make a
gradual but DrOsDecfive reducfion NJ The du