The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1846-06-29

comparison of prices ruling at the close Of the mar
ket yesterday with those current at the close Of tho
previous week. shows advance in Pennsylvania 50 Of
IL per cent and decline in Long Island Of per cent?
Harlem, sh farmers Loan. n; Norwich and Worcss
ter VI; Reading, IL; Morris Canal, n
The Cabot Manufacturing Company, and the Chicopec
Manufacturing Company, Of Springfield, have declared
semi-annual dividends-the former Of ten or cent and
the latter of six.
So long Congress remains in session. 50 long win
every thing remain in unsettled state If both Houses
should set until next November tho important matter
which and have been for months under consider
aiion would not be passed. If they were passed at all,
until just before adournment-when they would be hur-
ried through usual and sent into the world half made
up with defects and almost entirely useless for
carrying out the purpose intended. This is
of the continual demand for repeal modification of the
principal laws regulating financial and commercial
affairs and there appears very little probability Of s be-
ing removed
Congress will not adjourn before the 10th Of August
and it may remain in session after that time This will
give both Houses at least six weeks to perfect the prn
cpa measures before themwe say perfect because We
have fears that in any attempt Congress may make
to improve commercial system, it will FAIL and only
inict upon the commercial classes changes which will
produce the most ruinous arrangement In our foreign
trade particularly and business generally It the con-
temptation of changes which commercial systems
frequently experience, that does much mschief Il
the temporary nature of nearly all laws, growing
out of their defective construction that keep in CON
tinual Of uncertainty and this uncertainty becomes
doully tedious and injurious during the time Congress
remains session. for know not what alterations or
notifications may from one day to another, b pro-
posed.
matters not much what may be the nature or fec
lures Of laws regulating trade and commerce. long
-
the operations Of defective law in time, If the thing 10
left to itself As evidence Of this have only to
fer to the present tariff act 1t protective in
theory than in practice As Objectionable and a. cxorb
tsnt protective features at s see every
year reduction in its protective strength and gradual
but steady falling of in s average rate Of duty hlst
alone il will regulate itself. few ysars-not over
threewoud suffice to bring down below the standard
established by the most bitter opponents Of every thing
approaching in any way protection in any snsPe even
for revenue.
The average rate of duty upon the aggregate mpora
ton of foreign merchandise into the United States for
the year ls4e win not DO over twenty-five per cent
About to three fourhs Of the importations
the country come into the port of New York We can,
therefore, form pretty correct idea Of the operation OF
the present tariff act and the changes from time to time
exhibited by the trade Of this po and the above state
ment in relation to the average duty this year based
upon that data The average rate Of duty upon the i'm
portasns this port for the first Eve months Of is4S
was nearly twenty per cent and for the hrst i've
months Of 1896 but fraction twenty-five per cent
The average Of the first year this act went into opera
ton, was over thirty.6ve per cent, showing re
duction in less than four years Of per cent duty
and nearly thirtythree per cent the average II Is IN
this way that all tariffs must operate, ~ the manusc
Of the country progress, and the domestic do
mand becomes satisfied and supplied with domsstp
manufactures Tho importation Of merchandise paying
the higher rates duty whether levied for protection Of
for revenue must steadily, although gradually, fall on
a. the manufacture Of similar articles within our own
limits increases; and way Of filling up the do
Aciency in the which must under the present.
or even higher tariff occur but BY pl,cing duty on
those articles now on the se list the production or
manufacture Of which, in this country entirely out Of
the question.
We allude particularly to duty-a specific duy--uv
ON tea and Coffee Of At least Ave cents pound on Inc
former and two and half cents pound on Ne sssss
duty of these rates would not affect the price % me
consumers fraction ssr the supplies % hand = mo
time the duty went into force, disposed e. insre
Is duty Of two and half cents per pound on sugsrand
the Of that article, in this market 20 nov
than before the duty sstablishsd' Inc prsducsu
are compelled whom an article IL taxed in that way 70
keen up the demand by reducing the hrst cost and n
short time. prices como down the former standard
The receipts Of the Phlsdslphia and Rssding Raj
road Company for the hird week in June, Of the past
three years, have been a. follows =
r1.;;.sss. i: Aiss::: %s''E
June "a l84t. June I'll lB43. june 20, 1876
E E;:;:E: ): s:: ~ e ~:
CO... T ,,:s.,y ;s.. sis 's. ns:! 'a sss
The capacity Of this road for the transportation Of coal
sppss 10 hsvs bssa insrssssd within ths pet two ~