Vermont watchman and State journal. [volume] (Montpelier, Vt.) 1836-1883, 1842-01-10

One OF thCm 10 the enactment winch, aiter tnAt
PERIOD requires all duties to be pnid In ready
ey thus putting an end to the system Of credits
which has prevailed from the first establishment
OF this Government a system which, however
necessary or convenient in the infancy Of our
commerce, when the mercantile capital Of the
country WINS inconsiderable, and a strong desire
was felt to foster and encourage foreign trade b!
all practicable MEANS nay al the present day well
yield to the important objects TO be secured by
cash payments.
Another, deemed at The same time an essential
provision of the oct, is that which declares that
after June, 1912, all duties on imported articles
shall he assessed OH the vane of such articles at the
port where the same shall be entered, under such
regulations shall be prescribed by law. Hither-
TO, throughout the whole history OF the Govern
inent, The cost value in the foreign market has
been assumed as the basis for the calculation OF
al vaorem duties, and TO this cost or value GER
tain additions have been made supposed TO he
quivnlent to the charges OF importation. But I'M
dervalualions abroad, frauds real or supposed in
invoices, ana the unjust advantages which were
believed to exist in The hands of foreign manulac-
turers, who had become, in fnct, themselves the
Importers into the country of a large proportion OF
the manufactured goods from Europe, led Con-
gress 10 look 10 u home valuation for security as
vel to the American importing merchant as to
tho revenue, and the producers OF similar arti
cles in the United States.
The legal effect of the act Of 1888 would seem
to be- to abolish the practice after june 30ih, Of
assessing duties upon invoices or foreign vaua-
tion aud therefore, If Congress shall not at his
session prescribe regulations for assessing duties
upon valuation TO be made al the port Of entry,
or pass some INV modifying the act Of 1888, it
may well be questioned whether any ail vuorein
duties can be collected after the Both of june
The language of The law seems explicit ii is
that "from and after the day last aforesn:d" June
9Oth, 1922 the duties required to be- l'uid by
law on goods, wares, and merchandise shall be
assessed upon the value thereof at tie port where
the sane shalI be entered, under ch regulations
as shall be prescribed by law And it is further
declared, that so much Of any other act as is in
consistent with that act shall be and is repealed
The assessment of duties, after the day limited
or The basis of the foreign cos, or value is ncon-
sstent with the act and the law authorizing it
must therefore, as il would seem, be considered
as repealed.
The net OF 1885, as must be Obvious to ALL con-
templates no other than nd vaorem duties after
June 1872; Tor although in given case, specific
duty may not amonntio 20 per cent. on the cost
oil The article, yet that fact cannot he ascertaned
without referring to price or vaIue-things con-
stantIy acknowledgement much uncertainty, and
perhaps confusion, would arise as changes in the
market price of articles might carry the duty be.
You'd the limit at one PERIOD though within it.at
another.
Indeed, there can be little room for doubt that
It was in the contemplation of Congress, at the
passing of the act, that no duties on imports
should exist in the country after june 1912, but
I'D valorem duties. 1t must be admitted that this
was very important change in the whole system
of imports into The u. States, since it has hereto
fore been regarded as The dictate of high pru
dence and the teaching of long experience, that
for the prevention of frauds and The security OF
he revenue, duties ought, as far practicable to
he made not al vaorem but specific.
Ofihe assentialor peremplory provisions of the
act there are two, which it is not TO be disguised.
were intended 10 stand toward each other in The
RELATION OF equivalents or mutual considerations.
These are The reduction OF all duties to twenty per
cent. al vaolem, and the assessment OF those du-
ties upon home valuation. 1t is impossible 10
read the act itself, and still mole impossible to nd-
vert to the history ofthe times, without arriving ut
the most perfect conviction that The home valua-
lion was resorted TO for The purpose of guarding
The revenue against fraud, and protecting Amer
can manufactures against underv nluations. There
could be no other possible object in this provision.
IL Is apart OF the act, therefore, led with
another part, aud inserted for The purpose of quail
flying essentially the operation of the olher part.
But II is highly proper to look at the crcum-
stances which led TO the passage of the act Of 33,
and to regard the motives in which il appears TO
have Ind Its origin. 1t was the result Of a
spirit of compromise and Cancellation, at lime
when considerable agitation existed nnd much di-
versity OF opinion prevailed II events shall APP
pear TO make il necessary TO reconsider or read
just the provisions Of that law, all proceedings
towards that end should be conducted under the in
huence of the same spirit. The undersigned is
most deeply impressed with the force OF these
convictions, while Offering suggestions TO Con.
gress OH The subject tie is constrained to admit
that it has appeared him tina, the interests of
the country require some modification Of the
act of 1883. In support OF his opinion, he would
first mention the great, il not nsurmountable diff
ficullies of establishing home valuation at our
various ports, without incuring The risk OF pro-
ducing such diversity in the estimates of value as
should not only lead to great practical inconveni-
ence, but interfere, also, in effect, with the con-
sutional provision, that duties on imports shall
be equal in all the Stales II such should be the
opinion of Congress, then il is clear that some
equivalent is TO be provided for the home vaua-
ton, or else The whole basis upon which the act
was expected to resi-, as measure of compromise
and adjustment, is taken away or displaced.-
There ceuses, in that event, to be the mutually or
compromise of interests evidently Intended TO be
produced by placing home valuation rs an equiv
aent against reduction ofad yalorem duties. 1t
| remains Tor the wisdom of Congress to determine
| whether such equivalent can be found.
But in Tho second place, If Congress should ae
Of opinion either that home valuation is practical
BILE, or that some equitable and proper substitute
may be found for It, the undersigned will not
disguise his opinion that it cannot be regarded as
wise, by any portion OF the country, as a perma-
nent system OF policy, to augment the amount Of
revenue, when further exigences may require such
augmentation by raising duties on all articles, in
GLIDING those Of absolute necessity, TO the full ex-
tent of twenty per cent and preserving that limit,
at the same time, fixed barrier against higher
duties any article whatever, even those Of mere
luxury. Such plan Of revenue, ifto he regarded
as settled system, appears 10 the undersigned TO
be unnatural and inconyenient, and such rs is not
likely to promote the best interests of the cnun-
] try. ~
/ The probable effect Of the future operation OF
the act OF 1883 upon the manufactures and me-
chanica trades OF the country, particularly il no
home valuation be established, and no equivalent
for such home valuation found, gives rise TO in
qury too important to be overlooked.
4 |, is fully acknowledged that all duties should
be laid with primary reference to revenue and II