The Charlotte journal. [volume] (Charlotte, N.C.) 1835-1851, 1842-04-07

subject which friend has care OF, Mr..
Simmons than whom none is more CON-
petent to its full calculation. He thinks,
as | understand, that there can be devised
satisfactory system of such valuation,
and | heartily wish h:,G success IN the at
tempt. | will only say that, in my opin-
ion, if we raise but ten millions, without
any reference whatever to protection,
without reference to any thing but to mere
honesty, however small the amount may
be, we should ourselves assess the value OF
the goods on which we lay the duty, and
not leave that value TO be fixed by foreign
ers. As things now stand, we lay the du-
ty, but foreigners fix the value of the goods.
Give me but the power Of fixing the value
of the goods, and care little, in compar.
ison, what may be the rate Of duty you I'M
pose. 1t is evident that on The ad rdforem
principle il is the foreigner who virtually
fixes the actual amount of the duty paid.
1t is the foreigner who, by fixing that val
ue, virtually logislates for US; and that III
u case where his interest is directly oppos.
ed TO that of our revenue. say, there
fore, that independent of all considerations
of protection, independent OF all ends or
motives but the prevention of those lniam-
Gus frauds which have been the disgrace
of our OBSERVATION-DISCLOSURES 10 which the
foreigner, with his double and triple and
quadrupe invoices, ready TO be produced
as circumstances may require, fixes the
value of the merchandise taxed--eyery
consideration of national dignity, justice,
and independence demlnds the Substitution
of the home valuation in the place Of for
eign. What effect such a change may
have in the augmentation of the revenue
| am not prepared TO say, because do no,
know the amount: think the rate may
be set down at from twenty TO twenty five
per cent, in addition to tho foreign value
Of imports. ! do not speak with great con.
lidence. If the rate is twenty-five per
cent, then il would add only five per cent.
TO the rate Of twenty per cent. established
by the compromise act. Ofcourse, If the
home be substituted for the foreign yalua-
ton, the augmentation Of duties beyond
twenty per cent. will be less by that home
valuation, whatever 1t may be. Without,
however, entering into the question OF
home valuation, and leaving that subject
TO be arranged hereafter, shall treat the
subject as if the present system Of foreign
valuation is TO continue.
then return TO the inquiry, on an i'm.
portation Amounting TO ainety-one millions,
how much duty must be imposed in order
TO raise nett revenue of twenty-six mil.
lions The question does not admit Of
perfect accuracy the utmost that can be
reached is reasonable approximation
Suppose every one Of the imported article:
10 be subject TO duty Of thirty per cent.
/ then the gross revenue will amount TO S27,
100000. Deducting the expenses Of col
lection, which may I've stated at 81 600,
900, win give s25,T0o,0O0, or three hun
bred thousand dollars less than the propos
cd amount Of twenly-six millions.
/ But might US well take this opportun
i Is TO explain subject which is not wei
understood. II has been supposed, wheI
/ ! propose TO fix a rate Of ad valorem duty
as the maximum to be allowed, that IN,
meaning is, that all articles, Of every des
crip,ion, are TO be carried OPP 10 that point
and fixed at that rate, as on a sort OF be,
Of Procustes. But that is not my idea
No doubt certain articles ought TO 20 NJ
TO tue maslmnm--I mean those Of prime
necessity belonging TO the class Of pro
tocied articles, There are others, such al
jewelry aud watches, aud some others o
small bulk and great comparative value
aud therefore easily Struggled, and present
log great temptation 10 the evasion o
duty, which ought to be subjected 10 les
rate. There should, therefore, be a dis
elimination allowed under the maximuc
rate according TO the exigency Of the re-
spectIse circumstances Of each particuia.
interest concerned. Since it will rcquir,
duty Of thirty per cent. on all articles tc
give the amount Of twenty-five million,
seven hundred thousand dollars, and sinc,
some Of them will not bear 20 high duty
as thirty per cent, il follows that less thar
that rate will certainly no, answer the ne
cessary demands Of the Government, ant
II may, IN some particular cases, require
a rate somewhat higher than that in order
to raise the proposed sum Of twcnty.sis
millions. But as the reserved fund Of two
millions for contingencies will not require
an annual revenue for that purpose, should
the amount Of duties levied be less than
lwenty-sIx millions, or even between TWEEN.
iy-tour and twenty-five millions, the re.
served fund may be made up by accumula.
, tons, during successive years, and still
leave an amount sufficient to meet an an.
nual expenditure Of twenty two millions,
and two millions for the public debt.
tConclndcd next weok)
e0r Our friend of the "Oxford Mercu.