The daily union. [volume] (Washington [D.C.]) 1845-1857, 1845-10-04
Decrease. .......... S676,420 80
For the year 1874, LIST October $l9, 260, TAI So
For the year lS45, to LIST October. is, ll2O73 l6
s676,42O 80
sAlaS 66a AZ

Decrease in lS45.. ............A "a, l4S 66S 81
| see that similar table in the Journal of Com
merce of this date makes the falling off only 3d. l4o
668 81 There is Just one million of dollars DIFF
ference between us. If the figures are correctly
stated, they are in error, and not we.
Four millions Of dollars deficiency in the revenues of
the country at single port in single year, argues
badly in favor of high protective tariffs producing
large revenue!! What becomes of the argument,
that the administration favors undue expenditures,
in order that excuse may arise for continuing the
present high tariff The fact is-what we have pre-
dicted from the rstthat Congress will be forced to
lower the tariff, borrow money to sustain the gov
ernment we care not how economically it may be
administered.
There is no truer problem in Euclid, than that
moderate duties provide the largest revenue; while,
on the contrary, the higher the tariff, the less the
revenue.
The peculiar condition Of the country in 1912, at
the time the present tarf-aw was passed, favored
the absurd arguments alleged in its favor The
failure Of the United States Bank just previous to
that period, involved other banks and the people
in widespread pecuniary endorsements, which
forced them into the closest economy. So many
goods had been introduced under the inflated paper
money system of 1896, that, with proper care, the
people stood in little need of further considerable inn
portations for several years in advance. By 1912,
however, six years afterwards, the United States
became SO bare Of goods, that the consumers were
forced to supply themselves tariff no tariff.
Hence, we find in I843 and 1874, the revenue from
customs in New York suddenly rose to over
5000 900. At present. the tariff for the first time
is beginning to produce its legitimate effects upon
the receipt of revenue from duties.
The farmers produce sells 10 low, on account OF
there being no adequate demand in foreign markets,
produced, in a great degree, by the inability Of
merchants to introduce goods bought in exchange
for produce that they are forced TO consume less,
and otherwise econemIse in their pursuits. Honce,
with the falling off of importations, there is cor
responding diminution ofrevenue.
Unless the tariff be reduced to a revenue stan
dard, this state of things must progress, till the al
Tentative will be presented to government, either to
resort to direct taxation, borrow money to meet
necessary expenditures. Are the people prepared
for such an alternative Will they submit to direct
taxation or agree to borrow money to carry on the
legitimate objects of government in time of peace'
1t is for their representatives to determine.
There have been no arrivals to-day of importance,
if we except the ship Caledonia, from Rotterdam.
The sales Of cotton to-day amounted to 200
bales, and $500 yesterday. Prices stiff
Flour is heavy Genesee, $4 62i 200 bbs.
ordinary brought "a So. Michigan brought "a Sc!
$50 bushels good fine Virginia wheat brough: IS
cents SO sold at SO cents; and $50 bushels rye
sold at SO cts. 500 do. at SO cts. Southern corn,
81 cts; northern oats, Al cts.
Whskey, 3d. barrels bring "a cts.
Talow, country, a.
Pork is heavy. New is held at IL 10 10 cts .-un-
der S11 TO ga
No change in exchange
Beef sells at IS to 50 for mess.
The receipts for Croton water during the last
quarter have amounted TO about 1924, 900 increase,
about $4,000.
The stock market is without material alteration.
letter from our consul at Palermo states our
trade to be on the increase with that place.
Yours, truly and respectfully,
MORGAN.
p s. find the Commercial Advertiser, without
giving the Journal of Commerce credit, has copied
its table Of receipts Of revenue at this port, with the
error have pointed out.
SALEs October 3D. lSi5.-Firsf Boayd-17000 Pennsyl-
vana 5s IA II 900 Ohio es e7s 1000 Kentucky S.
1900 Illinois special bonds 37l 900 Texas Iop bonds,
25 200 Morris canal 24f 400 Reading X r. 5lt 10000
Reading r. r. bonds 66t 10000 do 65t IS Erie r. r., sat;
rs do, 34t; 400 do. "a; 25 u s. Bank, 81.
Second Boa,d3 900 Reading r. r. bonds, 6btj 10 Read
ing r. 6lj so Wilmington r. r.. ssi; 10 Morris canal,
al; 1875 Erie r. r., "a.