The daily union. [volume] (Washington [D.C.]) 1845-1857, 1846-07-18

agents here; that they viii I'll seapors with their
products, and exercise an unlimited control over
the home market SO far am l. sir, from feeling the
force Of this objection, that | consider il wholly
groundless. Foreigners never have had, and are
not likely 10 have, a very large share in tho busi-
ness of importation, taking all our imports toge-
ther. They send their products here TO some ex
tent, and have their agents here TO make sales; hui
y constitutes very uncomfortable portion Of
whole import trade. Indeed, l regard the present
system OF cash duties as much better calculated 10
throw the business Of importation into the hands Of
large capitalists, native and foreign, than a ware
house system IL a cargo OF merchandise worth
one hundred thousand dollars, is imported, and the
du ties are thirty per cent it, will require under the
cash system, one hundred and thirty thousand dol.
lars TO purchase the merchandise and pay the duties
on the entry. With the privilege Of placing the
goods in store without paying the duties, il viii
require only one hundred thousand dollars 10 make
the importation. The merchandise will be with.
drawn In limited Quantities, as sales are made, and
The duties paid on these separate quantities they
are delivered 20 the importer or owner la one
one hundred thousand dollars will suffice for the
transaction in the other, hundred and thirty
thousand dollars will be required. Now, ii is quite
clear that IN proportion as the amount Or capital re-
qaired for the importation Of merchandise il in.
creased, you diminish tho ability OF importers OF
moderate means TO make purchases for themselves
abroad and you multiply the chances Of making the
business OF importing monopoly in the hands OF
capitalists. They bring merchandise into the coun-
try, pay the duties, and compel the regular lealers
TO purchase Of them, with the addition Of interest on
the duties, commissions for agency, &c.,-either
depnving the merchant Of portion Of his legitimate
PROFIT or enhancing the price Of the merchandise be-
fore Il reaches the consumer, and compelling the
latter TO bear the burden Of these intermediate
charges The privilege Of storing goods will tend TO
break up, to some extent, this system Of monopoly,
by dispensing with the payment Of the duties until
rel IA rod
chendise will be more likely TO be purchased abroad
at the places production instead Of being procured
OF agents here, with the commissions and charges
OF these agents superadded. large number Of
individuals will be able to make importations un-
der the warehouse system, and whatever tends 10
withdraw any branch Of business from the hands OF
a few persons, and divides It among many, cannot
but be beneficial 70 the community
But admitting the objection to be well-founded-
admitting that Of the consequences OF the ware
house system will be TO enable foreign manufac-
urers 10 place their productions in store here ready
to be introduced at any moment into the home mar
ket, the answer is that they never be so intro
duced without first paying the duties, and that the
domestic producer is equally secure whether they
are stored here or abroad The force Of the obiec-
ton Is further weakened by the consideration that
through the rapid communication between the east
ern and western continents by steam, few weeks
are all that is necessary to bring into our market
unlimited quantities OF foreign merchandise. The
home market can only be controlled by a monopoly
Of the business Of Importation; and this, if my po-
stons are correct, will not be so likely to occur un-
der warehouse system as under system of
cash payments.
In connection with this subject the senator re-
ferted to the extent to which foreigners are now en-
gagged in the import trade of the United States, and
as think, estimated it too largely. On this point
brief explanation Is necessary. presume it will
be admitted that, in making the estimate, we must
confne our attention to the city Of New York.
There are few foreign importers in Boston, Pha-
delphia, Baltimore, Charleston. or New Orleans;
not enough, if am well informed, to make any
perceptible variation in the estimate. take it for
granted, also, that in the city of New York WOOL
lens, cottons and silks the chief imports on for
eign account The value of these articles imported
into that city in lS45, was follows:
Woolens ss,l54,534
Cottons $500, 1913
Silks 6,7S9, 220