The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1842-10-25

900 lbs of wool grown in the United States In the same
year e6s 1858 lbs imported into the United States
being IL per of the whole quantity consumed, and
Vermont in that year about cent OF the whole
quantity Now, the Governor supposes that the compe
ton of the West with its 100000 lbs will not injure
Vermont much the 100000 lbs. imported. What
should be in that quantity imported that makes it
injurious Vermont than the 100000 lbs. that
from the West viii the establishment of manu-
features in Vermont sustain the price of wool within its
borders against the cheap wool of the Western States
Would not the Governor like tariff to protect Vermont
against Ohio wool as well against Brazil wool?
| One of the most onerous burdens now imposed upon
the commercial interests is the cash system Of duties by
which importers compelled advance to the govern
ment the duties to be hereafter pad by the of
the imported goods This serious evil is to be avoided
only by ajudiciouS warehousng system like that adopted
in all countries where cash duties enforced The
TEN OF paying duties goods Immediately on Importation
before they sold for consumption operates upon trade
very inuriously in many ways but principally by Grip
phg the resources OF merchants and by dprvng them
oil the use OF part OF their capital in oblgng them ad
vance to the government II the merchants have no
right to trade on the capital of the government through
the medium OF IL or Is months creditor their duties
neither has the government any right live upon the
resources merchants by compelling them advance
the duties imposed by the government the
scarcity of capital in this country That scarcity
made the plea for every borrowing operation from the
federal down to the shnpaster
in Wall street If the government increase the
capital OF the merchants egmaely it should not under
the pretence of protecting another class of citizens de
prive them of their scanty capital.
Previous to ls03 this system of exactng cash duties on
imports pursued in England But its evils were great
and manifest 1t increased the price of goods to con-
% taIt
the business exclusively into the hands those Of large
capital to the damage and destruction of those of smaller
MEANS and above ALL destroyed the carrying trade while
at the time the collection of the duties and refund
ing it, as drawback upon re.expor opened the door to
immense frauds upon the revenue.
The first proposition to warehouse goods made by
Sir Robert Wapole in l733 but slow is the progress
correct principles that until 1903 was it granted 10 the
city OF London to liverpool in 1885, and has since been
gradually extended to other ports until Goole was allow
ed to warehouse goods first in 1927. The advantages
arising from are great that the only regret that the
vile bgotry Of protection and exclusion had not so far
given way before as to have permitted its establishment
BY 1t the Custom House greatly simplifed
and the labor in the department greatly abridged
The owner of goods in may sort separate or
reack at his pleasure order to their or
70 ehect more ready for SALE ship Wines spirits
may De bottled in warehouse Woven fabrics imported
from abroad may be taken out OF warehouse without pay
men OF duty in order their being cleaned bleached
dyed or printed upon security being Civ replace the
same under the custody of the officers BY late
enactment wheat may be taken out of bond without pay
ing duties manufactured into -four or ship bread and re-
turned for shipment In every way the utmost facilities
are given to honorable commerce. to extend the chan
neis OF the industry of the people in all directions When
goods are taken out of bond in London for consumption
the duty is paid upon the quantity imported but upon
that which actually exists at the time of release Hence
the duty upon the wasteage is not exacted.
fthe cash duties in this country are persisted in sys
TEN similar to this must be adopted here The goods upon
import will then into warehouse and upon their sale
for consumption will be taken out the duty then paid
At the coming session Congress this STEM or one SIM
lar will undoubtedly be authorized It will so far SIM
pity the revenue accounts that the five million dollars of
revenue which collected the treasury used
and subsequently refunded drawback upon goods
spirits and sugar will be collected at all The goods
will remain in bond until reexported The spirits will
be taken out under security refined and returned for ex
port as also the sugar. without dollar going into the
treasury, or being again taken out of it.
Sales mt the Stock Exchange
NJ Cy