Vermont watchman and State journal. [volume] (Montpelier, Vt.) 1836-1883, 1842-05-23
& STATE JOURNAL.
MONDAY, MAY 90, ls42.
THE RtFF---sEC ETARY FOR
WARDS BILL.

on Monday, tho Secretary of the Treasury,
Report aud Bill. For IN abstract of these docu-
ments, we are indebted to the New York Tribune.
50 lar ms the particular interests of Vermont nre
concerned there is some difference in the amount
Of protection given by this bill and Mr. Saton
stalls. The treasury bill gives the least
UooL
On wool, over cts, per IT, Mr.. Satonsul pro
posed cts. specific and % per cent. nd vnlorem
Averaging wool at 80 10 per ID. this would he
equal to 3S per cent. al val. exclusive of charges
Mr. Forward proposes hut 30 per cent ad VAL
hut in case OF attempted frauds, 3 cts specific and
30per cent. al valorem. Had he retained the spe-
ciic duty al cts we think it would have given
very fair protection On wool under cts Mr.
;. proposed no Duty and Mr.. Forward proposes
3 per CT ad val This duty is Of some import
ance for revenue, but of none for protection TO The
wool-grower So far as it goes it will operate a.
gainst the manufacturers of coarse wcuens
Woolen Manufactures.
With the exception of few specified articles,
the Secretary proposes the same duty on woolens
as did Mr.. Saltonslall, viz 40 per cent.
OMer Manufactures, &c.
This bill raises the duties slightly on sugar, tm-
per- silks, leather aud manufactures ofIealher, aud
wines; grain, beef, pork &c. about the same
cheese cts. instead of Z cotton manufactures
bear iue less duty; saIt cts instead Of per
bushel
Tea and Coffee.
New China tea, black 0 cts and green Is cts
per lb. Coffee, from Europe 5 cts. esewhele2
cts. No duties were imposed on these articles by
Mr.. Salonslal's bill. These duties are of course
imposed solely for revenue, and are 10 be in force
only three years.
On the whole the scale of duties proposed is
not favorable for protection as that of the
first bills but whether it is worse in other parti.
cuars, such as guarding against frauds, the kind
OF duties aud the principle of valuation we can.
not say until we examine the bill We suspec,
the Secretary looked TO revenue closer than TO
protection. The matter is now with the House.
aud we hope that not en ota of duties for revenue
will be voted until fair Protection is conceded. |
The following is the abstract of the report:
Tie Report is desLltory but able, and will prove
most saslacogy(?to The great producing interests
of the Union. 1t estimates the annual expenses
of tho government during each of the next three
years for National Defence and all ordinary mr.
poses S2442i,3j6 %, to which is to he added n
part 81, 100000 for Indian annuities Debts of the
Cities ia the District Of Columbia, 3 and per CT
funds due certain States, &c, and further sum
Of about S6,5O0,000 to defray the interest and ex
tinguish the principal of cir Public Debt This
requires an aggregate OF S9S,242, 953 70 in the
three years Oh nearly S33,OOO go per aunum to
meet which, even with th restoration Of the Land
Proceeds to the Treasury, ESTIMATED ut $4,000.
OUO for the three years. will require decided in
crease of our Tariff of Duties. The ,lutiuble i'm
Porlalions for the ensuing year are estimated at
$93Sl79S5, estimated to YIELD under the Secre-
tory'e proposed Tariff, an aggregate of S32 Cos.
33J from which must be deducted for Drawbacks.
HOun,ies, Expenses of Collection, &C. So lGO
600; eavingn net Revenue OF 1927, 443 335 81
BY this means The whole existing debt is TO be
paid off in three years; after which the Duties
are to cease on Tea, Cct!3s, &c. such is an out
line Of the Secrelary's Plan of Finance
Mr.. Forward takes frank and decided ground
in favor of Protecting American Labor as a nat.
ural and proper incident of any system of Reyei-
ne Duties. lie insists that the Home Production
of those great and necessary staples, Wool, Cot
Ton, Iron, Hemp and Leather should especially be
deeined'objects of steady National solictude On
the general subject of Protective Duties lac saws
"With regard to the influence of duties uron
prices in our home Market it is not necessary 10
say much at this time. The subject was briefly
considered in my report on the finances in De-
cember last, and will only add, in this place.
that The additional cost, if any, to the consumer Of
imported articles or those OF like description
produced at home, arising from the imposition of
duties is not the single point to be regarded in de-
termng whether or not such duties are to be trea-
ted os a positive unconpensaed burden. We arc
10 look much farther, and ascertain their effect in
extending the home market of our agricultural
products, and their influence upon the value of
land aud OF labor of all descriptions In such n
survey ii will he found that the benefit thus accru-
ing will be enhanced out Of all proportion TO the
increase, il any, in the cost of dutable articles
while the yearly produce OF the country, or which
is the same thing the yearly earnings of the pco-
pie, are thus materially enlarged all this being
hut the natural consequence of the great truth
that labor and industry are the true source of ma
lional wealth and prosperity and another truth,
plainly resulting from The FIRST that the earnings
OF labor and industry are much in proportion 10
the degree OF encouragement they receive and 10
the variety Unemployment which may he offered TO
their pursuits"
Mr. Forward thinks that uniform system of
home Vaua''on VIII be found impracticnble, and
recommends some departures from IT, He sup
gess that the Government should retain the priv
leSe OF taking imported goods by paying costs and
charges. and zen per CEN. advance The prnci-
pile of Cash Duties he firmly adheres to, ndducing
ample aud cogent reasons therefor He does moi
reearu WIN FAVOR me project OF II general Ware
housing system The expedienry OF allowing
Drawback on American Manufactures from for
egn materials is suggested 10 the consideration of
Congress- with an assurance that it is nor imprac-
tcable
The following are the rates of duty proposed
by the Secretary on articles Of the greatest impor.
lance, viz
W, ,l,H'.es' CO., - q DeserptoH. Rate of Duty.
"U'' oohg over cents per H. 30 ct nd yaloren
- under ~
" o0en "oo''-S SIin ana C1ssimeros 40 per ct
isilho shhWls 40 %
Worsted stuff goods "a q
Hosiery, Worsted and wooden yarn Ok q
Blankets, costing over IS each o. a
unuoi 40 -
" olsn a ,ro no, .e, 10 cts per SO I'd
Carneti,,g prusscIg tJiI,arr aI 49,, 4Ope ct
Venetian and other g. g. cts per 'qyd
o"0"'- "n'S' "EGl % 9S Gus pr SO yd % per Ct
=, ~ Gus p 80 va l-9 Is mrs yd