The daily union. [volume] (Washington [D.C.]) 1845-1857, 1846-06-20

may not be accomplished by mere extension or u
broader application OF existing provisions OF law
shall now dstsin the Senate but moment, M
stating some Of the principal benefits anticipated
from the charges proposed in the existing revenue
system. ~ f
The first and greatest benefit TO the commercial
interest is the relief il will afford from the present
system Of exacting the payment Of duties in cash,
on the completion Of the entry OF merchandise In
one sense il may be commended, when compared
with the present system, that II Is AN extension OF
credit 70 the importer for the duties until he can
effect sale Of his goods. Strictly speaking, il is
but abstaining from unreasonable exaction; and
Il Is dlvested Of all risk to the public the goods
will never be permitted to 90 into the possession of
the owner until the duties are paid. IL will relieve
him from the great hardship, which is common I'M
der the present system, Of being forced to sell por-
ton Of his goods, and sometimes in an overstocked
market for the purpose Of raising the money to pay
the duties IL will enable him TO pay the duties
he has the opportunity Of dsposng Of his goods for
consumption, instead Of being compelled to borrow
money, or sell his merchandise at loss, to raise it;
and il will enable men OF moderate means TO enter
into competition with large capitalists, who, as
have already said, monopoize 10 great extent the
business Of Importation, through their ability to
command money IN meet the payment OF dutlsa
in cash. The proposed change is entirely con-
sistent with the principle and the object Of
goods to raise money for the payment Of duties, it
will olen avoid an overstock Of the domestic market
with foreign merchandise, 10 the prejudice Of the
importer, by compelling him to sacrifice his prop
erty and Of the producer Of domestic goods Of like
character by depressing prices five consider also
that il w be likely to enlarge the circle Of compe-
tilioa is the business of importaton--not to aug
ment the aggregate amount OF imports for con-
sumption, bat 10 divide il among greater number
Of pesons-lt will not be difficult 10 perceive that
the mercantile interest must be greatly benefited by
the change.
The second bene6t. though perhaps no, second
in importnnco, to be anticipated from the proposed
measure Is the Stimulus 1t will be likely to give to
the carrying trade by making our ports OF entry
enirtpot, for the productions Of all countries Under
the present system, If imported merchandise is en-
tered for expectation, the duties are not refunded
until after the exploration has actually taken place.
Thus, If an importer, having brought merchandise
into the country for the domestic market, and hay-
ing paid the duties finds at the end Of one, two,
three years demand for IL at home, and is COM
PEELED to reexport il, he will have lost during that
period the use of the money he has paid for the
duties, and he 10 taxed in addition two and half
per cent on the whole amount so paid as a
premium 70 the government for the privilege OF
sending his goods TO a foreign market No better
scheme could be devised either TO glut the domestic
market by forcing the importer to throw his mer-
chandise into II at any price 1t will command, or,
on the other, to discourage navigation by taxing the
re-exportation Of foreign merchandise which is not
wanted at home. Under the proposed plan, foreign
merchandise will be allowed TO be freely deposited in
store, and to be re-expored freely with no other
imposition than the payment Of actual expenses OF
storage, &c. One Of the certain consequences OF
such system must be to accumulate IN our mari
time towns variety Of the products Of other coun-
tries, where our vessels make up assorted car
goes for foreign markets This facility has led to
the deposite IN British ports Of merchandise designed
for reshpment to the southern portions OF this CONT
neu and, indeed TO all quarters Of the globe. The
value Of foreign merchandise deposited in the ware
houses Of Great Britain is estimated at two hundred
and fay millions of dollars The proposed plan
would have the same result here, if like effects
TO be expected from like causes The deposte Of
even a considerable portion OF such quantity
in value, made up, much oft doubtless would be,
Of goods suitable TO the South American and Pacific
markets, could not fail TO benefit and extend our
navigating interest-one Of the most valuable in
peace, and the most important of all others to so
commercial a community as the United States
means of defence in war. That our carrying trade
would be vastly increased; that shipbuildng would
be stimulated; that many foreign markets would be
supplied, wholly or in part, by us with merchandise
now furnished from the warehouses of Europe; that
the, industry of our .seaports would be put IN
greater activity; that the commercial transactions
Of the country, would be facilitated; and that a
healthier competition would be created in the busl-
ness of importation, can hardly be doubted Such,
at least, is the opinion of the mercantile community;
and 30 believing, it is natural that they should look
with great interest TO the concurrence Of the Senate
in a measure which appears to them so intimately
connected with the prosperity OF the coaatry.
Ard finally, Mr. Preaideat If uniform prices and
steady markets are, az are taught to believe, adj
van,ageous 70 the producing classes, the manufac-
turing interest," next to the commercial, is likely to
be most benefited by the proposed measure, through
supplies of merchandise near at hand, ready to
meet sudden and unusual demands, thus preventing
N frnr haco he has If