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

should be trusted by the Government The Sc
eur,ty which he ufers in the one would be
; equally attanSh.e IN the other.
The system OF credits, established in the infancy
ofour commerce. when there but little capital
IN the country, and the import business was on a
footing totally different from what is. mis- ht
have been productive of real advantage. Bot the
state Of things which attended its establishment no
longer continues. Capital is sufficiently abundant FOR
supplying the country with foreign produces, and
much of the trade itself has been shifted from "a
mercAn to foreign hanis.
Among the direct advantages expected to arise
from the cash system is its tendency check
trading, aud TO restrain mportatons within limits
indicated toy the wants OF the country and the pro
baele amount of its exchangeable surplus IL needs
no laborcd argument or research to prove that the
present embarrassment in all our departments Of
labor and enterprise have arisen VERY much from
overtradlng, nor does II require much discussion TO
show that the spirit of overtradng and reckless ad
venture has been favored by the system Of custom
house credits.
| Another advantage OF the cash system no less
obvious is the reduction Of expenses incident to tho
collection of the revenue. The number OF custom
mouse bonds outstanding and unpaid is very great.
and the amount OF money lost through the bark
ruptcy of importers aud their suretes must amount
TO some millions. There is reasonable prohabili
~ that such loses would cease TO occur hereafer.-
Aidto this the expenses OF litigation, which in many
cases nre enormous.
Connected with the subject OF cash duties is that
OF the worchousng system, to which the attention
Of the Department has been anxiously Directed
The Constitution Of the United States, article l.,
section g. declares that "no preference shalt be Civ
en-, by any regulation of commerce OF revenue to
the ports of one State over those OF another"
IL Is manifest that under this restraint ware.
housing system, IT established, mus; bc universal
Regarded IN this light, the policy of the measure
as well IS the expense attending Us pr,c;icnl ope.
ration, are matters OF grave inheritance, and req urc
NOR consideration than 1, has heen IN The power Of
the Department to bes;ow upon them. The whole
gff Nfssf If -
Congress.
some notifications proposed Of the avs re
sulhtins The draw back OF duties The time within
winch goods can hc exported Tor the benefit Of
draWbtck Is found 10y experience 10 he unueccSsa-
tily 'ong The bill proposes one year. as in the
earlier laws. IL proposes also, to retain, former.
~, Tor the use 81 Government. and 10 reimburse
expenses incurred, tvs and half per cent Of al
drawbacks OF duties on coNdS imported o:hcr than
t'resn 'efned sugar, in respect TO which il has
been thought necessary 70 retain ten per cent. Of
TIC drawback. IN order 10 prevent check the in.
tererenc- winch would Otherwise take rlsce with
our cowmcJcli grd Manufacturing interests. The
drawback sugars refined and spirs distilled
from mo'asSos in the United Suites. hes also be,n
moc'Ied according to the proposed changes N the
rates og duty.
/ Suggestions rom various quarters have been
made to the Department. rs to the policy OF cx:esd.
/ ING OR system o. dsawback uaOn c-r.din articles
OF Domestic manufacture, IS 20 embrace articles
manufactured from hemp, lrcn. and WOOL and to
Nf'' 'ht - llpEA VI ANO>- lfslCics. WNen ma
nufactured ,oely flom foreign materia :, a draw.
oaeS eqnal or reariy tq1al in amoInt to the duty
! PAID on the importation Of such m,:crisls. The
! interests OF commerce snd navigation would no
! doubt he promoted by the adoption Of some such
system as that 1bove Recommended, wh.c at the
same time 1t would r'c?cr,ionahy enlarge the
sphere OF manufacturing labor. The objection
"hca Understood 10 have been urged ,sniuSt this
system IS, that II cannot be so guarded by lcca.
PROVISIONS rs 10 secure tho revenue against fauLs
me answer has beer, that the exposure OF the re.
venue 10 frauds, under the operation OF the scher,c
referred 10 woII DC 10 greater than that which ut.
TENDS the allowance OF drawback upon the manu-
tactuTe OF refined sugar end dist ed spirits; and
mat ia rcsreci to tie latter, the experience of the
Government has shown that few, # any, frauds
have occurred. Upon this subjeci, however, the
Depart mem, though inclined 10 favor the idea, is
not prepared 10 submit any spec nc plan, but leaves
no Ne disposed OF as the wisdom Of Congress may
direct.
All OF which is respectfully submitted
WALTER FORWARD,
o., Secretary Of The Treasury