Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1842-05-06
From HE .N-tn York Nerald

| (From The Ven York Uerad
On MIR. Peel reduced Tariff we have an immense
reduction in the duty on those articles Of consumption
which have hitherto been shipped to England, with the
of butter and COTTON and tobacco that IS, out
OF 90 articles enumerated the duties on Ia have been
reduce nearly so per cent. On the two first of these
articles the impost small in any great de-
gree arct the sale Of the articles, and tobacco is
IN degree exempt from the usual law of trade,
that high prices induce decrease in consumption or
that low prices increase IL. It's consumption IS en-
tirely matter of habit, which becomes exceedingly
strong its voarics. There is substitute for the
article, and the quantity actually consumed by each
individual is small that very great increase
in price scarcely affects them. person addicted
to tobacco will not leave it off long us he can get
nj any price; the other hand the cheapness oil The
article would never be an inducement to commence
the 1T. Deductng the cotton tobacco, and com,
there remains value Of 900 600 of exports TO Great
Britain on which very heavy reduction in duty has
taken place II may naturally be expected therefore that
ordinary years the expor, those articles VIII be dou
b!ed. IL SO, corresponding import of goods from
England must take place in pay nent for those articles
otherwise the exchange cannot take place. The English
Government have in this reduction taken long stree
towards increasing mutually beneficial trade between
the two countries. Ii now remains for our own go
vernment TO meet that movement in The spirit,
and by economy in lis expenditures and outstanding It's
resources, make the import duties as light possible
in order that the agricultural interests may take advan
tage of the avenue of trade open 10 them 1.-THE
duties raised here 10 prevent the return oil
Engls goods in payment of produce, it must
nulhfy the reduction taking place in The English tariff
high tariff here is alleged TO be necessary because
the land revenues have been given to The Slaes The
alternative then presented to the American people is
this-By retaining the public land revenues in the
Treasury, duties may be reduced as TO admit OF Brit
tsh goods coming here in exchange for an additional
s., 900, 900 of produce. If the revenues are given
away 10 the people they will receive S2000,0U0 from
the Treasury, and in return be deprived of the sale OF
5000, 900 of produce, and the Government will be
deprived of 30 per cent revenue on the IS 900 oil
returns which would amount to 690,0GU. The pro-
duce being detained at home will sink the value of the
whole production probably S30,000,00n which loss will
be sustained By the people IN return for the 81 600 000
which will go 10 the bond holders
The Western States are particularly interested in the
new English Tariff. The reduction on tallow, lard,
pork and beef alone offers immense outlet 10 those
articles Of which the West has such supcrabundance.
Tie prospective Gale of those articles alone may be
sufficient to enable them 10 pay their debts, properly
cherished and skilfully met
The House of Commons reassembled, after the East
ern news, on the 18th of pril Nothing of Importance
acted on. In answer 10 question from MIR. Raikes
Currie Sir Robert Peel re-siated his determination,
'tha the existence Of the ministry should depend on
The carrying of his financial measures the income tax
being the basis Of his ended tariff, admitting, how
ever, such notifications in the tariff as may be
considered reasonable"
from The scm', a6)
II appears that MIR. Fastcnath, the agent OF Hope q
Co.. with gentlemen agents Tor other houses in connec
ton with the special minister have, been holding out
propositions the Federal Government in relation TO
The negotiation &C the loan, subject 10 conditions
that some assistance shall be rendered by The Fede
raj Governnlea, to improve the credi, of the den
QUEEN: States, ehe! by assumption by appropriatng
the public lanes a sinking fund TO cancel the
debts pro rata. The Treasury Department. has no
authority 10 enter into any such stpuations, and the