The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1843-10-04


fourth quarter of 1912 commenced the operation of the
present tariff which raised the average duties from s.
per cent duabe imports to 35s per cent Hence
duabe imports the port of Boston, for the two years.
are follows
Dutiabe imports at Boston S0,745,7o0 S8,63,450
S0's's' sIsiEss;. sss iSisss
This is the picture of the decline of trade and
at all the ports of the Union under the oppres
sve action Of the present tariff the cash features of
which perhaps the most burthen mpos-
ed upon any branch Of nations business The Of the
law interposes directly TO crush for the benefit
OF manufactures The constitution of the United States
guarantees to all equal protection and equal laws Yet
law is passed with the express object Of favoring a
class ofmanufacturers at the expense of the shipping
commercial interests. This is done by the indirect
action of laws but directly by compelling them
other to relinquish business altogether advance IS
per cent of their capital to the government the shape
of revenue duties.
The dlapdated condition of the government finances
compelling to the issue Of species of paper money not
wihstanpg the large loans which contracted this
year. sufficient evidence that the commercial inte-
rests perishing The importing capital of the Union
is compelled under the present law advance the
government 600 per annum taken from the means
of small importers. The result is that the imports have
not been made and the government is without
This state of things must continue until the present tariff
modified in the important particular Of cash duties
without wsrehousng privileges, and the government
debt will rapidly increase it is doing or resort
must be had to direct taxation.
The only resource of which the Federal Government
snow possessed for revenue, is the customs duties
Uuder the tariff the average duty upon gross
imports is 90 per cent. IT. therefore, the government
peuditures confined within the limit of $40 oCo
per annum, import of $lOO0oOOOO of goods abso.
lutely necessary to yield that This year the
ports will be but 100000 Now if under the present
tariff foreign goocs connueto be excluded, whence is
the government to derive its This point
TO which the farmers direct their attention. If to
benefit the manufacturers they consent to destroy
of the country and with the Of the
government they must abs submit to direct taraon to
supply the wants of the government For this year the
of the government to be supplied by borrow.
ing in the shape of loans and issues paper money
This cannot however, last The alter native then pre-
sents itself in shape which cannot be dodged--a ta
riff solely with rieo TO or direct TAXATION. $780,
Ooo,oCoper annum must be raised by means the
other Hence, without any reference sectional inte
rests n high low tariff the question issue is really
direct taxation or customs The advocates for
protective tariff really the champions for direct
alton. The land have not considered, be.
for years to they will vailable. Last
year they produced but ST 100000 and this year will
yield still less because under the distribution large
quantity divided between the States which was SC
leced by the State authorities with view produc.
veness and locality These lands thus selected by the
States to be sold for State account be the Federal
Government sell any lands For nstance-under
the Distribution Illinois got 600 of the choicest
land within her borders These lands she has advertised
sell on the LIST of April next for her State liabilities
Other States will do the These sales will meet all
the demand for land fer time to come SO tn the
public lands to the Federal are
, annihilsted for some years at least.
There is alternative now, scarcely but direct
taxation. The ruin brought upon commerce during the
last year has far destroyed the that the com.
lag Congress must take vigorous to estore
adsrs. Those who oppose modification of the tsriff
with view to increase the revenue must stand before
the country the advocates Of direct Federal taxation.
The lower House OF Congress is of that OF party
which in favor of equal laws and purely revenue ia
rif. The Senate are of opposite views Hence the ques
ton will at the coming probably be brought di
recty to an issue viz reduction OF the tariff to meet
the wants of the Treasury the imposition Of direct
taxes Few politicians, we apprehend, on the eve of a
Presidential election will feel disposed to advocate the
latter course. Hence there is some chance that com
may be relieved from the letters which now bind
f..
Sales mt the stock Exchange.
$500 y rs. ~ l07A 100 Canton Co 25L