Daily Richmond Whig. [volume] (Richmond, Va.) 1840-1842, 1842-05-16

years, that can DC fully relied on. In the port o
New York, the impottatOns in the first quarter o
this year much less than IN the corresponding
quarter OF the year iSil, and m the succeeding
quarters OF the current year the diSptoporlion i
likely 10 he still greater. While the removal of
portion OF the duties the 3lst OF December last
| brought into the country a large amount OF pro
ducts which were waiting Tor that event, the in
crease OF duties 10y the tariff now proposed, ma
ny important articles, together with the cash sys
tenn OF payment, will operate, no doubt, foT a time,
| TO check importations. There are other rcum
stances to discourage importations, among which
| may he mentioned the decline in prices of some OF
our staple articles OF export, and the large State
loans, effected IL Europe, which were paid in pro-
auctions of foreign manufacture, and are still out
standing as permanent balance against this eoun
try.
Although the estimate Of imports for the present
and two next succeeding years IS given at ninety
three millions, It is proper state that owing
the circumstances above adduced it will not be a
matter Of surprise II they should, IN the average
amount, fall shuri of the sum mentioned But IL is
believed that the trade and business Of the country
as well domestic as forclen, have reached near.
y so, their loves, point OF depression and that
der the benign influence of the system of duties pro
posed they will in the course OF another year. be-
gin to improve. and at the end Of three years re.
cover their former prosperity. Under this expecta-
ton, the duties tea and coffee limited in the
bill to three years. after which period it is expected
that the aceruins from other sources W IN
/ be adequate IN meet tie current wants ~ the Co.
vernmen' and finally to cNunculsh the public debt.
| have already adverttd 20 the influence ot the
/ system OF cash duues on checking redundant i'm
! Pr. t4uons The annexed table marked +, will
show the influence, generally, "f duties upon i'm
portatOns. II d.es No. COMPRISE all tho articles in
Guided m the present hill. INT embraces a number
sufficient in amount AID importance TO exhibit q
complete view Of the principle ~hich this statement
is designed To elucld ue. l. commences IN the wear
preceding The of duties under the tariff OF 1924
and HanNu t,trftt Al.
| tho periods wien the highest rates Of duty were
exaced, and that of their decline under the ecmpsJ
mise &C.. IL will bc perceived, inspection of
this tab e. thai, although the Increase of duties
followed IN some instances by a slight falling oil in
/ importaions. the latter son ROSE to their former
amount. and 5 ,tiered no material d,minu,ion under
| the operation nj the highest rates OF duty.
Tde'e iac's are persuasive to show that the duties
now proposed do not, IN ths main. exceed he true
revenue point and that the OF Income which
they expected to yield will, whenever our trade
shall have resumed its regular and natural course,
Oe realized.
Bot, should even different result he experienced,
md The foreign supply decline IN a ratio x-sedins
that OF the increase oi the duties be cut Of alto
sether, 1t by no follows that there will he A
couesp NnLns iec.ine IN the aggregate OF the Ttea-
sury. On this subject, the views Of MIR Crawiotd,
late Secret'ry Of the Treasury, contained IN lis re-
pott 70 Congress made IN December. lS29 are 10Th
pertinent end Instructive But It." says the report,
csnirary 10 present anticipation, the proposed aug
meniaiion Of duties should, before the uJ..c debt
be redeemed, produce diminuio oil the revenue
arising from u Importation ot those articles a cor
responding n not a greater augmentation may he
confidently expected upon other articles imported
into the United States. This suppo,.,ion res.s upon
the two fed conviction that ioisisn articles nearly
equal 10 the value of the domestic exports will be
imported and consumed and that the substitution OF
particular classes of domestic articles fer those Of
iorelsn nations not only does not necessarily diin.
lsh The value Of domestic exports, but usually tends
10 increase that vaile."
desire, however, that the principle in view OF
The Department, IN fixing the rates Of duty upon
wool, cotton, hemp, iron, and the manufactures Of
each of those materials. well as from leather
should be distinctly understood. They were re-
sarded as Objects OF great national concern and their
permanent supply at home essential to our real in
dependence.
Although i, is admitted ,ha, an entire home sun.
ply canno; be Immediately attained wihou, actual
or al east possible prejudice to the interests oi
portion OF the American people, yet tie imposition
OF duties at such rates rs shall tend gradually but
certainty TO increase such supply, while they no
more than meet the absolute wants of the Tre1.
sury in the mean ;ims is de med to he no, only
eXpedient in itself but entitled 70 rank among the
Quotations OF Governmcn; 10 the whole country.
There are other articles which, though ro' strict.
ly cnssed among the absolute neeessaries Of life or
means OF national defence, are OF great convenience
ana Importance; and the extent and yar.ey OF labor
employed IN their production are such as 10 call for
the favorable notice OF Government.
With regard 10 the influence of duties upon prices
IN our home market, is not necessary TO SAP much
at THIS time. The subec. was briefly considered
N my report on the finances in December last and
vii! only add, IN this place, that the additional COST
Il any 10 tho consumer OF imported articles or these
OF Ike cescripion produced at home arising from
the imposition of duties is not the single point 10
be regarded, IA determining whether or not such
duties are 70 be treated positive uncompensa'ei
burden. We are 10 look much further and ascertain
their effect IN extending the nome market Of our
agricultural products and their influence upon the
value OF land and of labor OF all descriptions.
In such a survey II will be found that the bene-
ut thus aceruIng will be enhanced out OF all pro-
portion 10 the increase, il any, in the cost OF duta-
ole articles, while the yearly produce OF the coun.
try, or, which is the same thing, Jhe yearly earn
lngs OF the people, are thus materially enlarged: all
this being but the natural consequence OF the great
truth, that labor and industry are the true source
national wea' and prosperity; and Of another truth
plainly resulting from the trsi that the earnings OF
labor and industry are much in proportion 10 the
degree Of encouragement they receive, and 10 the
variety oi employment which may lie offered to
their pursuits.
With a view 10 guard the revenue against iraJu.
lent underva uatons, which cannot lee entirely pre-
vented by the existing scheme OF al raiorsm dl,ies
spechc duties are proposed IN nearly cases when
practicable.-The operation Of the system Of spec-
nc duties may not be perfectly equal in all cases,
10 respect 10 the value Of the articles included under
u. But this Inconvenience IS more than compen-
stated by the security OF the revenue against evasons
and by the tendency Of specific duties 10 exclude
worthless and inferior articles by which purchasers
and consumers are often imposed on.
In assessing The cd u1i0rem duties, the foreign
value OF goods imported has been assumed rs the
Da'is Of the duty. In ascerniring th.s value by
apprasement, % Is attempted 20 place some new
guards on the revenue Bot IL may be worthy %
considerauon whether u would not te niyisatie 10
adopt regulation by which the option should be
gwen 10 the collector, IN cases where supposed ON
derVa uaOn m The invoices exists 10 take the goods
Tor the use % the Government on paying the i'm
porter Tor the same at the value mentioned on the
invoice, together with an advance OF ten per cent
thereon, and the average Of costs and charges on
the importation Of similar goods.
A material and indeed Fundamental considers.
ton, which reconclled large portion Of the coun
try to the compromise act, was the home valuation
which II promised. This consideration having
failed, oil p1rliss at liberty to project such new
scheme Tor the adjustment Of duIes on Imports rs
the common interest may demand But. m 40
tempting such adIu'tmcnt the spirit u concession
and iorocarancc, which should characterize every
measure bearing extensively upon virious and
sometimes corf cling interests, or, speaking per.
naps with moe propreiy, in this instance, Of con.
/ hcung opinions, ought 70 be observed. IN this re-
sptct ana this only ran the great principles which
entered into the compromise act te substantially
carried out.
/ The system Of cash duties. although m,,sri,I
condition IN the arrangement % the cinpfom,.e a-,.
must now stand upon It's own intrinsic merits. fra
/ this view alone 10 Is recommended 70 Congress-
/ The abolition Of custOmhouse credits is a measure
sustained by reasons which appear 10 the Depart
| ment 70 be conclusive. In order 70 Appreciate the
advantages oi a cash system, % may be well 70 pre-