Daily Richmond Whig. [volume] (Richmond, Va.) 1840-1842, 1842-01-05

L
ri,y,
The amount required for surveys Of the public
| lands, and the compensation of the officers employ
ed in that branch OF the public service. being paya-
bic out OF the proceeds OF the sales of those land:
| g not included in this estimate Of expenditure.
To meet the deficiency in the year 1912, amount
ing to Sl4,2is,570 6S it is respectfully recommend
ed to Congress TO authorize;
/ !. An extension of tho term within which the
residue, not yet taken Of the loan already autho
rized shall be redocmablc, amounting 10 say $500,
900.
9. The reissue Of the Treasury notes heretofore
authorized by law, amounting TO S5,000.ooO.
| ). The balance still required Of S2,7lS $40 6S
together with an additional sum Of $4,000. 900, "a
surplus deemed necessary in the Treasury, TO nee
emergencies of the public setvice,) TO be supplied
from mposts upon such foreign articles imported al
my be selected, with duo regard 10 rigid restric
ton, in amount, TO the actual wants OF the Govern
ment, and proper economy IN its administration.
H. Re adjustment Of ths Tdrtg.
The last reduction OF duties on import. provided
for by the act of the 2d March, 1888, will take ei-
feet Immediately after the 30h Of June next. From
that day no duty will exist on any imported article
exceeding twenty per cent. ad valoren; and certain
other legal provisions of the same act, OF grca, inn
portauce, are TO come into operation at the same
time.
One of them is the enactment which, after that
period, requires all duties be paid in ready
ney, thus putting end TO system Of CREDITS
which has prevailed from the first establishment, OF
this Government; a system which however nccessa-
ry or convenient IN the infancy os our commerce,
when the mercantile capital of the country was in
considerable and strong desire was felt TO foster
and encourage foreign trade by all practical lc
means, may at the present day well yield the i'm
portant objects TO I've secured by cash payments.
| Another. deemed ut the same time essential
provision of the is that which declares that after
June, lS42, all duties on imported articles shall be
assessed upon the value OF such articles ut the port
where the same shall be entered, under such regu.
Il hall he IlNei Ivy lazy IN
| throughout the whole history of the Government,
the cost or value in the foreign market has been
supcd the basis for the calculations OF ad valorem
duties, and to this cost value certain additions
have been made, supposed TO be equivalent 20 the
charges OF impor;a'io But uniervaluaons abroad,
frauds real or supposed in invoices, and the unjust
advantages which were believed to exis; in the
hands of foreign manufacturers who had become,
IN fact, themselves the importers into the couutry
Of large proportion OF the manufactured goods
from Europe led 10 Congress TO look to a home va
luation for security as well 10 the American import
ing merchant rs 10 the revenue, and TO the ptodu
GERS OF similar articles in the United States.
The legal effect OF the act of 1888 would seem to
be- TO abolish the practice, after June 3oh OF asses
sing duties upon invoices or foreign valuation; and
therefore, 1t Congress shall at this session pre-.
scribe regulations for assessing duties upon n vau.
alton 10 he made at the port of entry, pass some
aw modifying the act of 1888, may we'll be ques
Toned whether any I'D valorem duties can be col.
ected after the 30ih OF June. The language Of the
aw seems explicit. Ii is that "ftom and after the day
asst aforesaid tJune 30th, 1921 "thc duties re.
iured to be paid by law on goods, wares, and mer-
handlse, shall be assessed upon the value thereof a;
he port where the same shall be entered, under
such regulations shall be prescribed by law
Ana II is further declared, that much of any other
ct as is inconsistent with that act shall be and is re-
,ealed.
The assessment OF duties, after the day limited |
IN the basis OF the foreign cost value. is incon
stent with the act; ard the law authorizing il mus,
therefore,, as II would seem 5e considered as repeal!
ID.
The act Of 1888, as must be obvious TO all, con-
emplates no other than ad valorem duties after
.une, lsi2 Tor although in given a specific |
iuty may not amount 20 per cent. on The cost Of
he article, yet that fact connot be asccTiained With
out referring TO price or value-things constantly |
huciuating-nnd much uncertainty, and perhaps |
confusion, would arise, changes in the market |
price OF articles might carry the duty beyond the
limit at one period, though within i, at an ther.
Indeed, there can be little room for doubt that it |
was IN the contemplation OF Congress, al the pas
sing OF the act that duties imports should ex
ist IN the country after June, 1872 but ad vaorem
duties. 1t must be admitted that this was e very |
important change in the whole system of import, into
the United States, since IL has heretofore been re-
garded as the dictate OF high prudence and the |
teaching of long experience, that for the prevention
of frauds and the security of the revenue duties
ought, as far Us practicable, 10 be made ad valo
rem, but specific.
act there are two, which 1t is not 10 be disguised
were intended to stand towards each other in the re-
Iation oil equivalents or mutual considerations
These are the reduction of all duties TO twenty rer
cent. ad vnlorem, and the assessment Of those du.
Ties upon home valuation. IL is impossible 10 |
read the act itself, and still more impossible to ad
vert 10 the history OF the times without arriving at
the most perfect conviction that the home valuation
was resorted to for the purpose of guarding the re-
venue against fraud, and protecting American ma
uDderyaiuetons Than |
be no other possible object in this provision II is
part OF the act, therefore, connected with another
part and inserted far the purpose of qualifying es-
'entiaIly the operation OF the other part.
But 1t is highly proper TO look at the circums,an-
;es which led to the passage OF the ec of 1885, and
70 regard the motives in which il appears to have |
had It's origin. Ii was the result OF a spirit OF COM
promise and Cancellation, at a time when considera.
Die agitation existed and much diversity Of opinion
prevailed. If events shall appear TO make il neces
'ary TO reconsider or rcadius the provisions Of tina,
aW, all proceedings towards that cod should be
conducted under the influence Of the same SPIRIT
he Undersigned is most deeply impressed with the
orce oil these convictions, while offering sugges-
ions TO Congress on the subject. He is consrain-
ID to admit that it has appeared to him that the
interests OF The country required some modification
If the act Of 1888. In support of his opinion he
would hrst mention the great, Il not insurmOunta-
Die difficulties Of establishing home valuation a,
1ur various ports, without mourning the risk of pro-
tucing such diversity IN . estimates of value as
should not only lead great practical inconvenience
but interfere alsO 10 effect with the constitutional
provision, that duties imports shall be equal in
all the Stntes. II such should be the opinion of
Congress, then IL Is clear that equivalent is to
be provided for the home valuation, or else the
whole basis upon which the act was expected 10
rest, as measure OF compromise and adjustment,
Is taken away or displaced. There ceases, in that
event, 10 be the muiUltY or compromise of inter.
es's evidently intended to be produced by placing
home valuation as an equivalent against a reduction
oi al valorem duties. IL remains for the wisdom of
Congress to determine whethers such equivalent can
be found
But in the second place, if Congress should be |
OF opinion either that home valuation is practicable
or NIT some equivalent and proper substitute may
oe found Tor u, the undersigned will not Disguise
ms opinion that cannot be regarded as wise by
any portion OF the country, as a pertinent system
OF pocy, TO augment the amount OF revenue, when
urther exigencies may require such augmentation.
by raising duties on all articles including those OF
absolute necessity, TO the full extent Of twenty r,r
cent, ard preserving that llnit, at the same time
as fixed barrier against higher duties on any arti.
Gle VIII tover, even those Of mere luxury Such
plan OF revenue If TO be regarded as n settled sys-
TEN, appears TO the undersigned to be unnatural
ana announcement, and such as is not likely to pro-
mote the hest interests Of tho country.
The probable effect of the future operation of the
act Of 1888, upon the manufactures and mechanic,
trades Of the county, particularly if no home vaua-
ton be established, and no equivalent for such home
valuation found, gives rise TO inquiry too important
10 be overlooked.
IL is fully acknowledged that all duties should be
lad with primary reference 10 revenue and il is
admitted, without hesitation or reserve tlat no
more money should be raised, under any pretenco
Whatever lh1n such an amount as is necessary for