The daily Madisonian. [volume] (Washington City [i.e. Washington, D.C.]) 1841-1845, 1842-12-06
MEMORIAL

To the Honorable the Senate aud House Of Representa-
fires Of the United staies in Congress assembled.
The Chamber of Commerce of the City Of New
York respectfully represents that the system OF Cash
Duties on arrival Of Foreign Merchandise, instead
a w arehousinc System and Cash Duties on Entry ior
Compens alton is calculated TO work most IA urously
against the best interests of our maritime cities with
Out controlling any beneficial influence in favor of
other interests, but calculated, directly and indirectly
TO do serious injury to all
IL has been, until late period the policy Of ID M
ton, from the beginning 10 grant credit on duties
This policy has heen from time TO Time modified wh
the desire and intention of changing lhe credit Ia a
cash payment on entry. To this (though Of doubtful
eapediency) your memoralists would urge an OBJ
lection but by resonng to cash payments ofdules On
.oods upon arrival and allowing no wsrehousinr i
change SO important and practically goes far be-
yond hat your memoral'ss believe 10 have been the
intention of Congress, that II is respectfully conceived
shat few brief remarks will fully illustrate The ne
cessty Of promp, and immediate modification Of he
act OF Both August last.
Your nemoriasts understand that the lead NC OBJ
iectioBs To the Wsrehonsing system are
LIST That II would facilitate and encourage over OF
excessive imporis, which, though in warehouse or
BOND, and not entered sli would be at doors and
readily obtanable TO thwan the ads anccment Of
those protected branches Of industry which the policy
Of the nation deems expedient and lust should be
sanced and prospeIed by system of counlen aing
iutes.
ID. That il would be impraclcable TO esiabish at
every port of entry Warehousing System. That
the cost of constructing warehousing would exceed
he ability Of the Treasury, and that each port Of
Try would have right TO claim under the C0nstitu-
tioD, facilities granted TO another
81. That the system of warehousing would add TO
The perplexty already involved IN sys-
em-unnecessarlly enlarge The patronage OF the Gus
ON House, and endanger or expose the 10
fraud
In answer 10 the first objection, your memoralists
would briefly state their entire belief, that by the
adoption OF a warehousing system, a broad aud
liberal scale, one Of The greatest difficulties and ob,
druclion5 against which our hume industry has hui
20 contend will be entirely obviaed. We ailudc 10
orccd sales at auction, or Otherwise Of fo eign com
nodities which, coming to the importer under adva-
or Cost and charged also with duties and other
money OUTLAWS, have other means of realization
wareiousing system, on the contrary, would fur
ash, as la London and othe leading mais every IA
lty of avoiding these forced sale, by the OF war
rants storage receipts which enable the importer To
tase money the most economical terms und 10
await demand, either at home or by export abroad
And thus steady market would be secured instead f
me subject To the fluctuations which have worked 50
much mischief TO all interests.
Your menorlaIss would here also remark, that tho
practice of using warehouse warrants or storage re-
cepts, basis Of credit, Is calculated to work ia
'orablc change IN our present system Of credit In
London, where the warehousing system Is in full
pera,ion dock warrant" storage receipts is by
law transferable security, and the holder thereof
regarded "ipso iacto" the owner of the goods (apd
such would te the practice here, if simaI ia, luies
existed 1t furnishes flexible and desirable socur-
~ because II represents actual Property 1t OF
course to exist when the goods entcred for Don
sumption. Thus credit 10 made TO resi- property
exis ing, and ceases when CONSUMPTION begins whilst
with as vast amount OF paper exists, and not Yet
tur,d, long after the property which gave il existence
has been cons uned and past away.
BY warehouspg system, we invite a regular sup
ply Of the productions of all the worJ, and thus at
all maritime towns offer an inJucement To all tie
world to to and make up their assorncns, as
well Of our own, of foreign production. This can
act limit The sale of our own Productions. He who
wants indigo tea coffee and other articles our soil or
skill does not produce, and also wants cotton tobacco
ueef pork, flour, lumber fish, and cotton shiuings
and other articles which we do furnish and produce,
will scarcely be induced 10 invest largely IN the
productions of our soil our skill, because he cannot
Obtain foreign productions Of totally different cha
racter. But by being aic to supply himself with al
he may require, induce him the more 10 come TO
u.s. instead Of compelling him seek other deposito-
lies of general assortnents, where he effect that
object.
SO well are the advantages Of a warehousing sys-
TEN known and understood IN England Ga nation pc
culiarly alive to every department Of its produc-
tive labor that it is there established extended and
cherished on the most liberal basis The history OF
its adoption there is full of useful instruction Until
this system esabiisbed duties were demanded in
cash ntipal Of merchandise This led 20 the ne
cessity, the part Of importers Of limited means TO
resort TO forced loans, or forced sales any price
and this in turn created powerful circle OF money
lenders, who eXacted their own rates aud burdened
commerce most disastrousy, and eventually drove it
into few and exclusive hands.
The doctrine, however, gained favor, that in all
systems of taxation, care should be had 10 aceommo
date the collection, as far practicable to the con-
venience OF the contributor; and as the evils alluded
to increasing and branching off in various chan
nes, TO the manifest INJURY Of trade, warehousiug
system, though at frs, met 10y signal and almost sue
cessiul opposition from the circles alluded TO- was
finally adopted and has gone from step to step til
Il has reached It's present condition. "A system :,
favorable all the abiding interests of Ike nation oa
10 have contributed more, perhaps, than any other 10
make London what IL is the great center OF exchange
of the whole commercial world and rejecting us in
luences back through every channel to those sources
If wealth and power that render Great Britain what
she is.
In answer to tie second objection against a ware
housing system, your memorialisis would sin,rv
state that the General Government will not and
nees not be called on TO contribute dollar 10 tho
Of warehouses. The law reouited 10
to lie enacted will slate distinctly that goods wotes
and merchandise, subject duty shall lie entitled 10
the privileges OF warehorsing, provided safe detot-
ores constructed as 10 guard against e. cry poss
oi'y Of iaud, he obtanable and which said deposi-
torres shall meet the requirements demanded by such
rules and regulations the collector actrr urdcr
and 10y the direction of the Secretary of the Trcssury
nay from time TO time establish" Under such & law,
trvate enterprise acting in open competition viii at
nee furnish said repositories, aud this mioiilion
VIII result IN the greatest economy in charges and
expenses of warehousng. These repositories wilt
DC constructed 10 suit the character OF the goods
stored, and TO facilitate their reception and delivery
A nd the number and capacity of these warehouses
will keep pace with the demand Tor their use
The government has simply TO regard the system Of
safe deposie from shipboard a continuance Of the
voyage ;the expense fguardng against fraud aud at
lending 10 reception and delivery, falls on the goods
not on the government The government should cY-
act nothing goods exported il simply sees that the
evenuc is not delrauded, and entry of goods for
consumption collects the duties thereon in cash By