Richmond daily Whig. [volume] (Richmond, Va.) 1842-1861, 1846-01-27


TO second Letter from the Hon. ABBOTT LAW
RrScr, and feel sure that our readers will thank
us Tor the substitution. We have taken but
mere glance at this document but think we may
safely say, il is powerful and impressive paper
throwing much light upon subjects of Particu-
lar interest to Virginia, and indeed to the whole
country.
Bosros, JsSusry 18th. ls46
M DrAr SIn.-I stated my letter OF the 7,h. that
should write 20 you again. upon subject Of the entire
change proposed by the President Of the United States and
the Secretary OF the Treasury in Revenue Laws 1t
in no other than the adoption OF Advaorem for Specific
dues and reduction Of the whole to 30 per cent this
being the which the Secretary suPposes the
largest revenue be obsned. shall not discuss
Of duty that vii, produce the greatest amount OF
Revenue wes the Secretary to settle that question;
but shall endesvor show what the effects will Re
the country # his recomme should be adopted by
Congress- deem the scheme proposed TO Congress, in
the main question, and one carried out tina
will reach in its operation the occupation and business u
every ms in the United States. believe the
nomcs member OF Congress will that thirty millions
dollars will be required. annually this Gov
for the five years, that this does
not include large that may be wanted 10 settle
Affairs with Mexico Texas &c. &c; and that this sum is
u be raised from Foreign mpor,aons and the Public Land
The goods subject duty imported the last year. amount
ed In round numbers, to 30 millions OF dollars, and the
goods free Of duty about 25 millions. have not the
returns nj han and may exactly amount;
butthey are near enough illustrate my arguments the
former paid m average duty of about 32 cent creating
revenue say of % millions II the revenue derived from
an importation OF 90 milOus % millions OF doas'
what amount be impaired, to produce the same sum
ut 20 per cent Ad-valoumi
The answer lao millions add to this, the free goods,
about IS millions and have importation Of los mi
~ Oure have exceeded. nof
they likely at presen, above 100 millions
then deficit of Is millions 10 provide tOr and how
i, this balance be paid State Stocks longer
current in Europe Even the Stocks OF the United States
cannot be negotiated on favorable terms.
We who are Merchants answer this question, hav-
ing been obliged make our r,miitances in coin,
whom our imports have eded our exports.
If We are obliged import l40 millions OF goods sub
ject to duty. the wants Of the Government it Is
quite certain that the be exported, the
deficiency. IL tho impoAtons fall short Of l4O millions.
we then have empty Treasury. In one case the
try will be made bankrupt fill the Treasury; and in the
other the Treasury will be bankrupt and Con-
rrcs for Treasury Notes and Loans may be said
our exports will increase with imports this supPosi
ton think faacious The policy OF Great Britain and
that of all Europe, has been, and is likely continue,
protect every thing produced either at home their
colonies In Great Britain the article Of Cotton is
hdmed Free the duty having been repealed the very last
Ths owing TO tpeHted REPRESENTATIVES Oi the
Manchester tpnnes Parliament the necessity OF
such measure consequence OF the competition from
foreign countries the fabrics manufactured from
cotton produced in aud shipped from, the United SIaes
The argument presented in the House Of Commons was,
that the had taken possession Of every market
where they admitted the terms, with their
coarse goods This is representation. and sppre-
bend the repeal OF duty Cotton will enable the
British manufacturer Bgain obtain possession of those
markets for the hes IVY descriptions of Cotton fabrics
What other article of Importance does the Government
of Great Britain Unit free Of duyi know Of none
Cotton is admitted free Of duty from How IL
with Tobacco 4 duty Is paid of 1900 per Wheat
IL prohibited by the 'Sidng Scale" aud Of
tai repeal Of the Cora Law, very le Wheat would be
shipped from this country nssmueh be laid down,
odina AIRY years Of harvest, much cheaper from the Bal
tic. Beef aud Pork burdened with heavy duy. The
duty and charges barrel of American Pork laid down
in Liverpool, with the commissions for raes, amount
1915; SO that the quantity this article shipped to Eng
land be nconsderab, unless the prices here should
b. so low be the farmer cannot find in
the catalogue Of strictly agricultural products single
article that ia not burdened with high duly in England
OF other parts of Europe, II 1t competition with
their products can discover that there is dis
position the part OF single European Nation relax
their stringent system Of duties imports this coun
Try Ii possible that Great Britain may abate her Corn
Laws, far admit Indian Corn 4 nominal duty
ship it advantage. STATE the fact then, exports
will not consequence OF reduction or even
total repeal. Of the present Tariff. The duty in Grear
Britain oil the products Of the United Safes received
in that kingdom, including cotton. less IS per
cent aud exclusive Of cotton. 800 per cent and this too
on produce generally. where the charge Of freight
constitutes quarter Of the cost here
aud this is Free Trade!
hope you, Of Virgins will. examine this matter. and
whore the hest Ia.
for your agricultural products. will Just stale TO YOU
here, that Massachusetts takes Flour Indian Corn
Pork, and many other articles annually the productions Of
the West, well as Of Vrginn. than oil Europe.
The question then nrses, what will be our condition
after the proposed plan Of low duties goes operaon In
20 days after the bill becomes law 1t will have reached
every country in Europe with which have trade: the
manufactures all motion for the supply Of the
American market; the merchandise shipped on account
DG egners many with double invoices one ss
the Cosom House. and another for the saLss 30 that
instead Of the duly amounting 90 por cent II will not
probably. exceed per This has been tho eSpef
OF the American Importers in New York who
previously the passtge of the Tariff u 1912 had o.t
VI them abandoned the business, being able 10 COM
pete successfully with fraudulent iorti gners / will not
that oil foreigners frauds the revenue:
from i-bui do say hat enormous frauds have been per
peuaied by foreigners, the revenue under I'D vsoreu
dues, and will be againptJsatng the business Of no
nest foreign and American importers n less ian twelve
months sitter the pan shall have bern In operation
this whole country will be literally surccd with foregt
nsrehandzei f It be 90, the revenue will fsI short of
the wants Of the GOyefnmentD shall then owe debt
Abosd Of millions Of dollars. which must be paid In coin
The exchanges g. Up TO point that makes Profitable 10
ship specie. money becomes the Adsnuc cities:
yet bills England end France d. "a ho loans made
90 the sou,h and West allied IN: demands Tor debts due
tom those sections Of country, nlsc exchange can
not be aincd-produco b. purchased atd shipped and
When It arrives at the North, It will not C. nnand the
sosi IN the West paralysis will have struck tho
business Of the county produce will no longer
TO pay debts due the Norh and tho next re-
sort TO coin. which b to be collected end sent down
the Mississippi, the Mountains Baltimore Phil
adephis, New Yok and Boston. Western aud southern
credits cot o. the people Of those sections can no
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