Daily Richmond Whig. [volume] (Richmond, Va.) 1840-1842, 1842-03-25

10 raise sunieent amount Tor the support OF inc
Federal Government, and to supply oil Of Its les
innate wants Further: MIR Y. eontended that mel. |
her the framers Of the Constitution nor the States.
when they gave lheic sanction TO that instrument,
ever intended that the lands should be used TO
provide fund for the support of the Federal Go |
4 vernment; Also that il was due to the States and
| was the duty OF the Federal Government, 10 dis
tribute the proceeds of the land sales among the
States, and TO provide its own revenue from other
sources. Therefore, he regarded distribution as |
having nothing TO do with the Tariff question. IL |
had been asked why distribute at time when all
the revenue OF the Government Is inadequate TO |
pay its dues add when there was public debt |
Of Sl2, 0OO, 900. MIR Y. said he would give this |
answer the proceed, of the lands belonged OF right
to the States and justice required that they should
| receive their due. Ii had been long denied them;
but his motto was, "better late than never" Con |
gress, too, preserved ample materials, independent
OF this fund, which they could lcgisla'e pro
vide for the present and for tue future Liabilities Of
the Government.
The gentleman from Accomae had commended that |
the Distribution law violates the compromise OF
1888, because distribution would make IL necsssa-
ry to raise grs,ter amount Wy imposts than IL |
would be otherwise necessary TO do; and that &c |
cording the spirit and intention OF that ect tho
duties could no, be raised higher than 20 cent.
after June, 1919. This seemed TO him (Mr W 4
most erroneous view OF the subject. reference
10 the land fund intended IN fixing the rate Of
20 per cent on imports after lSi2 This cvi. |
dent rom the fact, that at the very time when the
compromise &C, pending, bill was also pend |
ing for distributing the proceeds of the sales O. the
public lands. The compromise act, moreover, did |
not provide that the duties should not exceed 90
per @, mt; but the contrary, expressly declared
that "such duties should be laid for the purpose of
raising such revenue may be necessary to an eco |
montreal administration OF the government"
The gentleman from Accomnc also commended that |
the principle OF protection was repudated by the |
act-thst it looked TO revenue only after June isIa
Ho MIR W denied that this w.s the fact. He main
ts'ncd That the policy OF protection not rcpu |
uia,oc by the compromise act but merely modified |
as was proved 10y the term "eou,promse," so scnc-
rally gwen To the measure. Did "compron,ise- !
mean that one party Welded Up every thing or !
did II no, rather mean that each party surrendered
a portion OF what II generally commended for and |
the two reeonciled their differences Of cpn;on unon
common eround1 Was il not absurd II supposc |
that the Tariff men and Mr. CLAW the father of inc
American system and the author of the compr,ni.s
se', should abandon, utterly ami entirely all their
10 mer tondlv cherished principles and The policy
which they had espoused " tn 20 much c-r- sod for
so many vears-was II not absurd, he -ep,aicJ 10
suppose that those men wcud surrenGe, so much
TO the AMI Tariff men OF The SOUTH The coun- |
try did not understand them doing SO at II. ,nse
but looked upon the aci the result of shirt OF
cancellation, alta ,ins when great agitation ana ex-
element. and much disunity of opinion existed in
the country. MIR Clay consented to a modification
of the Tariff for the sake OF union and harmony
Hence he determined to introduce the conprpnniss
admitting that, with the protection which nanufae-
'urers hsd enjoyed for years, the capital ard skill
they had acquired the improvement, IN mach merry.
the slow and gradual reduction OF du'ies down To-
s+2 the 20 per ceni. after tia; time home va'u.
atoms end cash payments, they would be able 10
compete with foreign manufacturers. The Anti. |
Tariftes objected TO the principle Of dscrmin ,ton
recognised in the bill, and TO the home valuation
and cash payments; but they finally accepted it as
a measure CT compromise. II the princrlo Of nro.
lection was repudiated, why did the act provide c
'that after 30,h June, 1912 all duties should be +
paid IN ready money, to the exclusion Of all CREDITS"
and that "aer the same day the assessment Of the
value of all imports should be made home instead
IF abroad" and again. that "afer the same dav.
st of articles specified and enumerated in the &C,
hould be admitted free Of duty for the benefit of
he manufacturing interest 2" The true prnciplo ,C
" that undoubtedly was, Cancellation and bar
nony; and whilst II was intended 10 remove what
vas thought TO be grievance by one party in thi.
COUNTRY, u was no, designed TO sacrifice the interest
Il any other.
Another proposition of the gentleman seemed 10 t,
dr Y. to he equally erroneous, i. e. that the duty
necessarily entered into the price OF the article and il
increased the cost TO the consumer and tina, prices
you'd rise in proportion the increase Of the du
es. Mr. Y. denied this proposition. According
n, If an article now paying 25 per cent lie sub ~
eied TO an increased duty OF % per cent the price
the article must advance IS per cent. in market, Z;
" Hreport from the Secretary, made December 90
Sal, Mr. Y. found It stated that the price Of arti |
les was not increased by increased duties. The 81
secretary OF the Treasury gave IL his decided i
onvicton, that IN mos; cases, though the duty was
increased the price OF tie article renamed stationary
o the consumer. When an increased duty was lsid
m an srtiee much used in any community, the Sc. a
rotary gave II as his opinion that the duty alwavs
ell partly and often wholly, the foreign produ. "
er, who must sell, whilst the consumer IS not al
Ways compelled to buy. The increased duty al
heref re, rather tends TO diminish the profits Of The
producer, than increase the price paid nv IN. n
consumer. Bu', conclusive as Mr.. Y considered ~
his argument, he would still ADVERT to few facts e
which were unquesuoned, and were sustained by IT
documentary proof The principle was, that duties
cooking 10 protection, if they were iudiciousIv lsd s
would reduce instead Of increasing pices by means
IF the competition produced at home between do
nestle and foreign manufactures; for there would 9
be surplus thrown into market. This view Of
he subject, said Mr. Y, YVES sustained by facts a
lew OF which he would enumerste. Take the iron Il
manufactures. Notwithstanding the duty has been
increased, the price Of articles manufactured from, Il
iron has actually declined. Cheese, too though q
subjected 10 duty Of cents pound, sells OF the p
North ri from 10 10 cents-so with lead. which
sells for or cents n pound, though the duty is e
rom B 10 centt;-but nails, in 1916, when there
was duty, sold for ~ cents per pound-nog Il
hey sell at from ~ TO cents, though there il a v
iuty Of cents imposed Brown sugar an article a
If prime necessity, with duty Of ~ cents per h.
has declined greatly in price At this time sugar q
of the best quality can he bought in Louisiana al
10 cents per pound Salt, on indispensable nrti a
lie, paysa duty OF cents ner bushel and is quite
Is high as when duty OF 20 cents wos paid. Cot. u
on goods have continued 10 decline IN price though il
higher duties ara now paid than usual and higher c
han any other fabrIc-On the contrary, said My n
cas-, coffee, silks, wors'ed goods, &c, &c, which Il
rave been imported free Of duty, have no, fallen in
price, The truth Of the matter was j; most fre
luently happened, that the effect Of an increase Of
duty was 10 reduce the price OF the article in the
oreign market and reduction Of duty raises the
Drice. With our tobacco, which pays a duty in r
England Of 72l cents per pound, whenever the duty
las been lowered there has been a Corresponding
Use in the price in this country But he would not q
urther continue his enumeration Of articles by 5
which 10 illustrate the ground he had assumed that
riices on which protective duty was placed did "
lot thereby sell higher in market. f
Again: MIR Y. denied the position taken by the Il
Gentleman from Accomac, that this - stnbuton q
law disturbed the principles agreed upon in the
compromise ac', and created the necessity for n
new and increased Tariff The revenue pfoposed
10 be ioised on securities, lin accordanes with the
provisions oil tina, aci-l such as French silks. Oh
"orseds' linens, now not duiiabe, and uises no,g b
paying considerably less than 20 per cent, would "
amount to more than the land fund.- unnunlly. lie
should be pleased 70 know who there were IN that 4
Hall, that opposed raising revenue by laying du n
ties on luXuues imported into this country Re
advcrted 10 the fact, that France was nov Lv
means Of her duty OF 1000 per cent raising re- n
venue Of sIO000,OOO, annually, from our tobacco
England, too, evics slS,00O,OOO a year, upon ii
American iob'cco, entering her porisl This, TOO. ]
when We have been yearly admitting S7lOOOOOO