The Caledonian. [volume] (St. Johnsbury, Vt.) 1837-1867, 1846-01-24

dollars per box, and the price two dollars per
box; but if the glass Went down to 81 per
box, the duty would be 400 per cent. Thus
we are told by the Secretary ofthe Treasury,
and the Chairman ofthe Committee ofWays
and Means, that the people paid in all tax of
eighty four millions, Of which but twenty sew
en- went TO the government, and fitty-seyen
to the manufacturers; and he gave n list of
sixty or seventy articles on which the duty
amounted to more than hundred per cent.
Very we'll; and what did this prove? Why,
simply that the prices of those articles had
been greatly diminished, as in the case ofcot-
tons. The same duty which, when levied had
been but % per cent, had now become $50
per cent, simply because that the price had
gone down TO one-4tll or part ofwhat it Was.
So the main result ofall the labor and cipher
ing of the chairman of the Committee of the
WAYS and Means had been to furnish TO the
whole country official demonstration that pri-
ces had been reduced by protective tariti'to
one-4th or one-fifth of what they had been in
1916. Take plain illustrations; the tariff
imposed II duty offom cents per lib. on nails;
the price ofnailS in 1916 had been rs cents
per h.; so that the duty then was % per cent
on the price; but the same duty, we are told
in this report, is 100 per cent; and how SOP
Because the price had fallen from rs to 4
cents per pound. Very oppressive on the
"poor man." who has thus to pay 100 per cent
upon nails The explanation ofths was all
perfectly plain and easy. The effect of COM
petition and of American industry had in
creased the supply, in this as in all other Gus
es, had reduced the price ofcotton, glass &c,
whilst it had rendered the whole neighbour
hood prosperous by the increased demand for
all the productions ofthc former.
Mr. Stewart thanked the chairman of the
Committee of WAYS and Means for his docu-
ment; it had furnished TO him aud to the coun-
try mdcniabe proof, from the highest author
ity, to what an extent prices had been reduc-
ed, insomuch that the duty on one article,
though reasonable AT first, had now risen TO
three hundred and eighty nine per cent dd
U1'orcm, brought about solely 10y the reduction
ofthe price. Mr. Stewart defied escape from
this position. Lrtany gentleman take the re-
port and examine II, and the more they exam
incd the more they would he convinced that
this was n true explanation OF the whole mat
ter. Yet this was held forth for the purpose
of exciting alarm; it furnished II topic for pop
ular declaration, it might persuade the poor
man that he was greatly oppressed, because
he paid tax of two hundred per cent. on
his window-glass and he perhaps would not
understand that if glass fell To dollar Il box,
he would he taxed four hundred per cent or
if by any improvement in the manufacture
he should he enabled To get his glass at fitly
cents box, why then hc would bc paying
the enormous unhenrd of tax ofeigh hundred
per cent. This same poor man of the Sec
rotary sometimes wanted 10 buy n few nails,
and the Secretary alarmed him by the intcli-
gcnce that nails were taxed Il hundred per
cent. of their value. So they were but
what did he pay for them? He used to pay
sixteen cents pound, but this wicked OPP
preSsive tariff had brought them down To
four cents. Now who did not see that
specific duty of four cents pound on nails
amounted To Il hundred per cent. should nails
he brought down to n cent pound, The duty
would he four hundred per cent? What an
oppression To get nails at n penny pound
Surely the poor man was likely to be utterly
crushed and ruined.
Mr.. Stewart proceeded TO point out some
other extraordinary doctrines of the Report,
aud ESPECIALLY, requested attention to the
project of laying excise on American man
uiacturcs--'a plan which might not maptly
he termed plan to manufacture poor mem
Such would he its practical result, and there
was no escaping it, Another extract is all
we have room for -
The Secretary of the Treasury had made
other very wonderful discoveries in finance.
What did he tell us? Experience propes
that, as Il general rule n duty of tCeniy per ct
ad valorem will yield the largest revonuc.'-
Yes, experience proved that an ad valorem duty
of twenty per cent would yield the greatest
amOnnt of revenue. Twenty per cent yield
the greatest revenue! Why, what was the
great, broad, universally Unknown experience
OF the country? We had tariff of twenty
per cent in lSil-'2, and what was Our rev
enue?
Not one-half of what it was now. The
whole amount of revenue from imports was
then about thirteen millions, and this year it
was twenty seven millions. Was thirteen
more than twenty seven? II so, the Sccrc-
tary is ri ght; itnot, he was rong. And what
was the effect of their twenty per cent hori-
zontal duty? Under It's operation the coun-
try was Frustrated, the government itself was
bankrupt and the people were little better.
Yet this man could say, in the face of these
well known faces, and of the American peo-
pie, any one of whom knew better, that an
average duty of twenty per cent yielded the
highest amount of revenue. The Secretary
had even gone further yet than this; in his
famous circular he had assumed that ttceire
and a hay per cent horizontal was the true
revenue standard. Some Western scribbIer
asked him, through the press, how much rev.
tlue IL l-S per cent Wouiu give OH one nun
dred millions of imports THAT being more
than the average amount,) The answer must
be twelve and half millions; then deduct
three and half millions, the expense ofcol-
lection, and but nine millions of net revenue
would be left to pay twenty six millions of
expenditures. To make up the revenue;
you must add more than one hundred mill
ions to our imports, while your whole spe-
Gle has never been estimated at more than
eighty five mllions then all your specie
goes for your first year and where win you
get money for the next year? These ques-
tons, being rather troublesome were new